Paper Straws Market Size Analytical Overview, Growth Factors, Trends and Forecast to 2027
The
already booming global paper straw market is expected to gain further
prominence over the forecast period. In 2018, paper straws accounted for around
10% of the global straws market, which was then valued at nearly USD 14.36 BN. Paper
straw market growth is majorly driven by the increasing awareness of the
hampering effects on the environment caused by plastic materials. Moreover, the
growing preference for biodegradable products accelerates the growth of the
market.
Recently,
biodegradable straws have gained immense popularity due to the threat of land
& water pollution caused by toxic substances in plastic. This, as a result,
drives huge demand for paper straws as a non-toxic, biodegradable, and
environment-friendly alternative to plastic straws. According to Market
Research Future (MRFR), the global Paper Straws Market Size is poised to create
a value of USD 2.44 BN by 2024, growing at a staggering 12.61% CAGR
during the assessment period (2019-2024).
Additionally,
increasing government initiatives & funding programs to promote the uptake
of paper straws, impact market growth positively. The market witnesses the
presence of many notable industry players and hence a fierce competition. To
stand out in this competition, players accentuate on innovation in
manufacturing techniques. They make substantial investments to drive their
R&D activities to make improved bio-degradable materials and production
technologies.
Also,
the availability of different color and pattern variants attracts the consumers,
further increasing the consumer preference for paper straws. All these factors
cumulatively escalate the growth of the market to furthered height. On the
other hand, there is still a group of people that somehow dislike the feeling
of wet cardboard in the mouth triggered by the paper straw. This restricts the
particular group to go back to plastic straws. Such consumerism issue results
in increasing plastic straw usages.
The
Widespread uses of inexpensive & durable plastic straws and the lack of awareness
for the benefits of paper straws are the major factors expected to impede the
market growth hugely, especially in developing countries. Nevertheless, the
rising investments made to improve the quality of paper, so that paper makes
the best suitable material for straws, would support the growth of the market
throughout the review period. Also, economic growth worldwide is anticipated to
boost the market growth.
Industry/ Innovation/ Related News:
March 12, 2020 ---- Transcend
Packaging (the US), a leading sustainable packaging solutions provider,
announced that it has increased its production, looking at the growing market
demand. In its 166,000 sqft. production unit in Dyffryn Business Park,
Transcend Packaging generates around 20 MN paper straws a week.
Paper Straw Global Market- Regional Analysis
North
America dominates the global Paper
Straws Market Size. The largest market share attributes to the high demand for paper
straws due to the growing number of restaurants in the US and Canada.
Besides, the increasing adoption of paper straws encouraged due to the rising
adverse effects of plastic straws on the environment influences the regional
market growth. Throughout the assessment period, the North American Paper
Straws Market Size is projected to retain its dominance on the global market.
Europe
stands second in the global Paper Straws Market Size. The market is
predominantly driven by the increasing numbers of campaigns run by the European
Union to promote a pollution-free environment. Moreover, the high demand for
biodegradable products and emphasis on certified recyclable products are
fueling market growth. The European Paper Straws Market Size is anticipated to
create a substantial revenue pocket during the review period.
The
paper straw market in the Asia Pacific region is catching a rapid momentum. Raw
material advantage and cost-competitive workforce is a key driving force behind
the regional market force. Moreover, factors such as the growing product
awareness, rapid industrialization, and expanding food & beverage
industries portray the landscape of the APAC paper straw market as a lucrative
market on the global front.
Global Paper Straw Market- Segments
The
report is segmented into four dynamics;
By
Type :
Flexible and Non-Flexible.
By End-Use :
Household and Commercial.
By Regions :
Europe, Americas, Asia Pacific, and Rest-of-the-World.
Access Report Details @ https://www.marketresearchfuture.com/reports/paper-straw-market-8510
Global Paper Straw Market - Competitive Analysis
Highly
competitive, the paper straw market appears fragmented due to the presence of
several well-established players. To gain a larger competitive share in the
market, players incorporate strategic initiatives such as partnerships, mergers
& acquisitions, collaborations, expansion, and technology launch. Owing to
the availability of various similar products with low product differentiation,
manufacturers are increasingly focusing on effective marketing communications.
High potential growth that the market demonstrates attracts several new
entrants, which intensifies the market competition further.
Major Players:
Players
leading the global Paper Straws Market Size include Huhtamäki
Oyj (Finland), Hoffmaster Group, Inc. (US), Biopac Ltd (UK), ECOPRO2 (US), The
Paper Straw Co. (UK), Bygreen (Eco-Straw) (Australia), Footprint, LLC (UAE),
OkStraw Paper Straws (US), Transcend Packaging Ltd (UK), Strawland (Indonesia),
TIPI Straws (UK), Canada Brown Eco Products Ltd (Canada), Aleco Industrial Co.,
Ltd (China), Tetra Pak International SA (Switzerland), and Sharp Serviettes
(New Zealand), among others.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact
on Various Industry Verticals and wherever required we will be considering
Covid19 Footprints for Better Analysis of Market and Industries. Cordially get
in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and
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