Bamboo Shoots Market

Bamboo Shoots Market Outlook (2023 to 2033)

Newly-released bamboo shoots market analysis report by Fact.MR reveals that global sales of Bamboo Shoots in 2022 were held at US$ 375 million. With 6.4% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 746 million by the end of the forecast period. Fresh type is expected to be the highest revenue-generating type Bamboo Shoots, projected to grow at a CAGR of over 6.2% from 2023 to 2033.

Attributes	Details
Global Bamboo Shoots Market Size In 2022	US$ 375 million
Global Bamboo Shoots Market Size at End of Forecast (2033)	US$ 746 million
Global Bamboo Shoots Market CAGR (2023 to 2033)	6.4%
U.S. Bamboo Shoots Market CAGR (2023 to 2033)	6.2%
Key Companies Covered	Dnice Foods Group Jieyang City Junjia Industry Co., Ltd Ningbo Kisun Biofood Development Co.,Ltd Monteral Foods Company Limited Canz Homcook Sarwar Kasoi Luciana Pahari Roots Dynasty Geisha Native Forest

Revenue of Bamboo Shoots Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the research of the bamboo shoots market by Fact.MR- a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 4.2 % CAGR. With an absolute dollar opportunity of US$ 346 million, the market is projected to reach a valuation of US$ 746 million by 2033.

What are the Key Drivers Influencing the Market Expansion?

Bamboo shoots are the young, tender, and edible shoots or sprouts of the bamboo plant, which belong to the grass family Poaceae. Bamboo is a type of perennial, woody grass that grows in various regions around the world, and its shoots emerge from the ground and grow rapidly into tall and sturdy bamboo stalks. The shoots are usually harvested when they are still young and tender, before they develop into mature bamboo culms.

According to the Food and Agriculture Organization of the United Nations (FAO), in 2018, the global production of bamboo shoots was around 2.7 million metric tons and the production of bamboo shoots was increased in 2020 with around 3.2 million metric tons. The growing consumer preference for healthy and natural food products has led to an increasing demand for bamboo shoots as they are perceived as a healthy, low-calorie, and nutrient-rich food option. Increased demand for bamboo shoots in various culinary applications influences the market growth in the upcoming years.

In 2021, the global plant-based food sales were valued at around US$ 18.5 billion and in 2022 the global plant-based food sales were valued at around US$ 20.39 billion, it is expected to grow at a CAGR of 4.72% during the forecasted period. Bamboo shoots are a plant-based food option and are suitable for various dietary preferences, including vegetarian, vegan, and gluten-free diets. Consumers are seeking out alternative option for the sustainable food sources, bamboo shoots are gaining popular as a healthy and eco-friendly choice, driving the market growth.

In 2018, the global dietary supplements sales were valued at around US$ 123.28 billion and in 2020 the global dietary sales were increased and valued at around US$ 140.3 billion. The rising awareness about the nutritional benefits of bamboo shoots, including their high fiber content, low-fat content, and rich source of vitamins and minerals, has led to an increased demand for bamboo shoots in dietary supplements.

Region-Wise Analysis :

Which Region is Projected to Offer Significant growth in Bamboo Shoots Demand?

North America stands as a prominent market for Bamboo Shoots with a market size of US$ 105 million in 2022. It is projected that the region will have a market worth US$ 208 million by 2033.

In 2020, the plant-based food sales in Canada was valued at around CAD 1.5 billion, this represents a significant growth from CAD 1.134 billion in 2018. Bamboo shoots are a plant-based food option and are suitable for various dietary preferences, including vegetarian, vegan, and gluten-free diets. This is versatile and can be used in a wide range of culinary applications, including in soups, salads, stir-fries, curries, and pickles. The growing demand for plant-based food helps for the market growth in the upcoming years.

Country-Wise Analysis :

United States Bamboo Shoots Market Analysis :

The market in the United States is expected to grow to be worth US$ 180.1 million by 2033, with an absolute dollar growth of US$ 81.6 million from 2023 to 2033. The market in the United States has grown at a CAGR of 4% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from the year 2023 to 2033.

According to data from the United States Department of Agriculture (USDA), in 2020, the total value of bamboo shoots imported into the United States was around US$ 20 million and in 2018 the total value of bamboo shoots imported was around US$ 18 million. Bamboo shoots can be processed and imported in various forms, such as canned, frozen, or fresh.

The growing consumer preference for healthy and natural food products has led to an increasing demand for bamboo shoots as they are perceived as a healthy, low-calorie, and nutrient-rich food option. The growing consumption of bamboo shoots in the food influences the market growth in the upcoming years.

United Kingdom Bamboo Shoots Market Analysis :

The market in United Kingdom is expected to grow to be worth US$ 27.4 million by 2033, with an absolute dollar growth of US$ 11.4 million. The market in the country has grown at a CAGR of 3.2% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from 2023 to 2033.

In 2020, the total sales of bamboo shoots in United Kingdom were around 291 metric tons while in 2019 it was held at around 235 metric tons. Bamboo shoots are used in a wide range of culinary applications, including in soups, salads, stir-fries, curries, and pickles. The growing demand of bamboo shoots in the food helps for the market growth in the upcoming years.

China Bamboo Shoots Market Analysis :

In China, the market is expected to grow to be worth US$ 93.1 million with an absolute dollar growth of US$ 40.3 million from 2023 to 2033. The market in China has grown at a CAGR of 3.6% from 2018 to 2022 and is expected to grow at a CAGR of 5.8% from the year 2023 to 2033.

China is one of the world's leading producers and exporters of bamboo shoots. Bamboo shoots are considered a popular and nutritious vegetable in Chinese cuisine and are used in a wide range of dishes. From 2016 to 2020, China's total bamboo shoots exports ranged from around 60,000 to 80,000 metric tons per year. The export value during the same period ranged from about US$ 50 to 70 million. The growing need for bamboo shoots in the Chinese cuisine helps for the market growth in the upcoming years.

Japan Bamboo Shoots Market Analysis :

In Japan, the market is expected to grow to be worth US$ 76.1 million with an absolute dollar growth of US$ 29.2 million till 2033. The market in Japan has grown at a CAGR of 2.7% from 2018 to 2022 and is expected to grow at a CAGR of 5% from the year 2023 to 2033.

According to a survey conducted by the Vegetarian Society of Japan, in 2020, the number of vegetarians in Japan was around 1% of the total population, which would be approximately 1.3 million people. The rising awareness about health and well-being, along with the increasing adoption of vegetarian and vegan diets, has contributed to the demand for plant-based food products, including bamboo shoots. The growing demand of plant-based food products helps for the market growth in the upcoming years.

India Bamboo Shoots Market Analysis :

The market in India is expected to grow to be worth US$ 46.6 million by 2033, with an absolute dollar growth of US$ 17 million. The market in the India has grown at a CAGR of 2.2% from 2018 to 2022 and is expected to grow at a CAGR of 4.6% from 2023 to 2033.

In 2019, the total bamboo-bearing area in India was around 16 million hectares which grew to about 20 million hectares in 2020. Bamboo shoots are the young, tender, and edible shoots or sprouts of the bamboo plant. The growing demand of bamboo shoots in culinary applications, including in soups, salads, stir-fries, curries, and pickles, helps for the market growth in the upcoming years.

Category-Wise Insights

Which Type of Bamboo Shoots is Projected to Witness the Fastest Growth?

Fresh bamboo shoots are projected to witness the fastest growth as it has grown at a CAGR of 4% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

Bamboo shoots are young shoots of bamboo plants that are edible and widely used in Asian cuisines, including Japanese, Chinese, and Southeast Asian cuisines. They are known for their crunchy texture, mild flavor, and nutritional value. Bamboo shoots are rich in dietary fiber, vitamins, minerals, and antioxidants, which makes them popular in various culinary applications.

Fresh bamboo are projected to witness faster growth in the market due to factors such as increasing consumer interest in plant-based diets, growing awareness about the nutritional benefits of bamboo shoots, and the rising popularity of Asian cuisines worldwide.

Competitive Analysis :

Key players in the market are Dnice Foods Group, Jieyang City Junjia Industry Co., Ltd, Ningbo Kisun Biofood Development Co.,Ltd, Monteral Foods Company Limited, Canz, Homcook, Sarwar, Kasoi, Luciana, Pahari Roots, Dynasty, Geisha, and Native Forest.

A few of the recent developments in the market are :

• In September 2021, Nestlé announced plans to plant 3.5 million natural bamboo bunches and trees in the Philippines. Nestlé's goal of planting 200 million trees by 2030 is met through this forestry program. It also aligns with Nestlé's aim to ramp up regenerative agricultural activities, deploy environmental alternatives to collect carbon pollution, and contribute to the company's net-zero target by 2050.

Segmentation of the Bamboo Shoots Market :

• By Type :

  • Fresh
  • Dried

• By Packaging Type :

  • Canned
  • Bottles

• By Distribution Channel :

  • Online Sales
  • Supermarket and Hypermarkets
  • Convenience Stores
  • Other Channels

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa