Bamboo Clothing Market to Reach $3 Billion, Globally, by 2032 at 9.1% CAGR: Allied Market Research

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06 Jul, 2023, 13:17 ET

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The growth of the global bamboo clothing market is driven by factors such as the growth in awareness toward sustainable fashion brands among consumers, environmentally friendly materials, Increase in purchasing power of consumers, and achieving economies of scale by manufacturers.

PORTLAND, Ore., July 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Bamboo Clothing Market by Product Type (T-Shirts and Shirts, Pants, Activewear, Coats and Jackets, Dress, Undergarments, and Others), End User (Men, Women, and Kids), and Distribution Channel (Supermarket and Hypermarket, Independent Retail Stores, E-commerce, and Specialty Stores): Global Opportunity Analysis And Industry Forecast, 2022-2032". According to the report, the global bamboo clothing industry generated $1.3 billion in 2022, and is anticipated to generate $3 billion by 2032, witnessing a CAGR of 9.1% from 2023 to 2032.

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Prime determinants of growth

The growth of the global bamboo clothing market is driven by factors such as growth in awareness toward sustainable fashion brands among consumers, environmentally friendly materials, increase in purchasing power of consumers, and achieving economies of scale by manufacturers. However, high-profit margins by manufacturers and a decentralized supply chain of raw materials hamper the growth of the market. On the contrary, the rapid growth of the online retail sector and pressure on reducing carbon footprint are expected to offer remunerative opportunities for the expansion of the bamboo clothing market during the forecast period.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$1.3 billion

Market Size in 2031

$3 billion

CAGR

9.1 %

No. of Pages in Report

390

Segments covered

Product Type, End User, Distribution Channel, and Region.

Drivers

Growth in awareness toward sustainable fashion brands among consumers

Environmentally friendly materials

Achieving economies of scale by manufacturers

Increase in purchasing power of consumers

Opportunities

Pressure on reducing carbon footprint

Rapid growth of the online retail sector

Restraints

High profit margins by manufacturers

Decentralized supply chain of raw materials

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The t-shirts and shirts segment to maintain its leadership status throughout the forecast period

Based on product type, the t-shirts and shirts segment held the highest market share in 2022, accounting for more than one-fourth of the global bamboo clothing market revenue and is estimated to maintain its leadership status throughout the forecast period, as there is a rapid increase in the usage bamboo t-shirts and shirts among consumers as it acts as a protective fabric against the UV radiations of the sun. However, the undergarments segment is projected to manifest the highest CAGR of 10.22% from 2023 to 2032, as demand for undergarments, especially shapewear has increased in recent years. Apart from that, the increasing fashion sense and availability of colorful garments will propel segmental market growth.

The women segment to maintain its leadership during the forecast period

Based on end user, the women segment accounted for the largest share in 2022, contributing to more than half of the global bamboo clothing market revenue and is projected to maintain its lead position during the forecast period, because women frequently have access to a wider variety of clothing alternatives and designs than men. The kids segment is expected to portray the highest CAGR of 10.52% from 2023 to 2032, owing to the emerging kids fashion all around the world.

The independent retail stores segment to maintain its leadership throughout the forecast period

Based on distribution channel, the independent retail stores segment held the highest market share in 2022, accounting for nearly half of the global bamboo clothing market revenue and is estimated to maintain its leadership status throughout the forecast period, as bamboo clothing from several different categories and brands in one location assists consumers in forming a connection between the company and the shopper. However, the specialty stores segment is projected to manifest the highest CAGR of 10.22% from 2023 to 2032, as these stores are conveniently located and manufacturers continuously make efforts to increase the shelf visibility of their products.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global bamboo clothing market revenue, owing to the high expenditure on premium quality bamboo clothing. In addition, the surge in affinity consumers toward comfortable clothing is expected to offer huge opportunities for new entrants in the North America bamboo clothing market during the forecast period. However, LAMEA is expected to witness the fastest CAGR of 11.81% from 2023 to 2032, as the stakeholders in the region are significantly investing in marketing and advertising to increase customer awareness regarding sustainable clothing, allowing the market to thrive.

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Leading Market Players: -

The report provides a detailed analysis of these key players of the global bamboo clothing market. These players have adopted different strategies such as new product launches, acquisitions, technological developments, investment in R&D, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Consumer Goods Industry:

• Canada Bamboo Clothing Market Opportunity Analysis and Industry Forecast, 2022-2032• Europe Bamboo Clothing Market Opportunity Analysis and Industry Forecast, 2022-2032• UK Bamboo Clothing Market Opportunity Analysis and Industry Forecast, 2022-2032• Mexico Bamboo Clothing Market Opportunity Analysis and Industry Forecast, 2022-2032• Germany Bamboo Clothing Market Opportunity Analysis and Industry Forecast, 2022-2032

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research