Bamboo industry has plans to grow

As the global demand for bamboo continues to rise, more countries are beginning to see opportunities in developing the industry. The fast-growing plant has many uses, making it popular with consumers across the globe. BusinessWorld Online reported that the industry is estimated at about $10 billion, and demand is expected to rise to $20 billion by 2015. With a growing market for the product, countries with the ability to produce bamboo are beginning emerge as potential competitors to China, which is currently the world's largest bamboo exporter. However, these countries must first improve their bamboo industries and minimal industry supply chains.

Sri Lanka has plans to increase its bamboo exports and invest $24 million into the project over the next seven years. The country must first develop a strong a strong supply chain that facilitates the smooth flow of goods. The country will receive assistance to complete the project from the United Nations Industrial Development Organization.

Sri Lanka isn't the only country looking to expand its bamboo production and become an industry leader. Leaders in the Philippines are also hoping to capitalize on the growing demand for the product. However, the Philippine bamboo industry is lacking the established supply chain seen in China. Both countries are investing in local economies to create bamboo hubs that could benefit communities and ease the bamboo procurement process.