Project report for Cane and Bamboo furniture

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Introduction

Indian Market potential of Bamboo based products is estimated to be Rs.26, 000 Cores by the year 2015. Bamboo Furniture market is estimated at 3625 crores and Bamboo Housing market stands at 1100 Crores. There is good domestic as well as export demand of bamboo furniture. New entrepreneurs venture into this field will be successful.In India, Bamboo has been making a major comeback with a modern - designs for woven wallpapers, flooring, furniture, and even bathroom accessories. The material is gaining high traction across residential and commercial sectors due to its sustainability and light weight, which makes it easier to move around. Some of the common types used in furniture are strips, artificial bamboo board, and laminated forms. Cane furniture, furniture in which a mesh of split canes is stretched over parts of the framework, principally on the backs and seats of chairs. caning is a method of weaving chair seats and other furniture either while building new chairs or in the process of cane chair repair. Mistakenly some people confuse furniture or chair caning with wicker. To clarify, chair caning is specifically the craft of applying rattan cane or rattan peel to a piece of furniture such as the backs or seats of chairs, whereas wicker or wicker work is a reference to the craft of weaving any number of materials such as willow or rattan reeds as well as manmade paper - based cords.

Market potential & Strategy

The global bamboo furniture market size was valued at INR 75800 Crores in 2019 and is expected to expand at a CAGR of 5.2% from 2020 to 2025. The growth is primarily attributed to rising investments in infrastructure developments coupled with the use of sustainable raw materials for furniture. Bamboo absorbs 40% more carbon dioxide and releases 35% more oxygen than trees thereby improves the air quality. Awareness regarding the advantages of using this material for sustainability is anticipated to drive the growth. The market is majorly driven by the rise in residential application. Along with offering aesthetic appeal to interiors, bamboo is gaining significant acceptance as a wood substitute due to its mechanical strength, durability, and easy availability. Rising environmental awareness among wood processing companies is anticipated to drive the adoption of bamboos as a sustainable building material.

Apart from housing units, bamboo is also used in commercial places such as hotels, offices, and recreational areas. Companies focus on crafting environmentally friendly furniture using bamboo as the major raw material. Rising consumer preference for rich, natural, and elegant interior décor is projected driving demand for crochet and woven designed furniture thereby driving the bamboo furniture market growth.

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