The paper straws market revenue has been estimated to be over US$ 1.6 Bn in 2019 and is expected to increase at a CAGR of 13.9% in terms of value throughout the forecast period 2020 to 2027.
Plastic straw consumption in the world was increasing by leaps and bounds before the last 2-3 years. However, rising intolerance towards plastic straws, growing consumer demand for eco-friendly straws, and globally increasing government reforms and campaigns to ban plastic straws are likely to offer a positive outlook for the paper straws market. On-the-go consumers demand more than convenience from their products. They are increasingly aware of their choices and are picking more sustainable options.
The latest trend is to move towards non-plastic straws. Paper straws are hygienic, single-use products found in restaurants, bars & lounges, soda shops, and other places. Straws built of paper hold up during the course of a meal, and once discarded, they degrade way faster than those made with plastic, thus, leaving a smaller impact on the environment. The improvised characteristics of paper straws and their sustainable nature are likely to drive the growth of the global paper straw market during the forecast period.
The food service industry is a significant consumer of paper straws, and the increasing number of food outlets is boosting the demand for paper straws substantially. There has been a dynamic shift in the consumer consumption pattern in the food and beverages sector. On an average, online food delivery platforms in emerging countries such as India, offer over 40% return on investment. This is leading to intense competition across food delivery platforms among food service companies, which provides lucrative opportunities to food disposable products such as paper straws. Preference for takeaway food or ready-to-eat food is increasing which, in turn, is fuelling the food service packaging demand. Hence, there are high growth opportunities for paper straws in the near future, owing to the plastic straw ban in many countries and the rising demand for eco-friendly products. Such factors together are foreseen to propel the growth of the global paper straws market during the forecast period.
One of the important factors that drive the growth of the paper straws market is the consumer inclination towards eco-friendly, as well as convenient products. Consumables which are appealing, as well as disposable after one use, always get the attention of the consumer. Thus, manufacturers of paper straws are providing printed paper straws with appealing designs to grab consumer attention in the marketplace. Paper straws made with 3-4 layers of paper around a mold and a number of additives, are comparatively more durable than conventional paper straws. Paper straws answer to the market need of durable and sustainable alternative to plastic straws and are likely to gain significant traction during the forecast period.
Demand for Green and Eco-friendly Products
The strong uprising against the use of plastics and other non-biodegradable products has caused formidable disruptions across multiple industries. The use of biodegradable products has become a mark of responsibility and better citizenship. Environmentalists are persuading national governments and planning authorities to ban a major share of plastic products that glut the market. Therefore, the use of plastic straws and glasses is gradually running out of practice. Considering the factors stated above, it is safe to expect that the global paper straws market would tread along a lucrative pathway.
Use of Effective Marketing Strategies
The use of paper straws across cafes and bakeries has become quite prominent. Moreover, the development of collaterals for these units follows a comprehensive approach toward marketing and sales. Since paper-based straws have a larger scope for customization in terms of colour and attractiveness, the use of these straws has gained momentum. The design of plastic straws can undergo greater level of customization. For this reason, several buyers still prefer to use plastic straws. However, the vendors in the global paper straws market could capitalise on the shift from plastics to biodegradable products to earn sustainable revenues.
The Paper Straws market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Paper Straws market for the base year 2019 and the forecast between 2020 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Paper Straws market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Paper Straws market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Paper Straws market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Paper Straws market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Paper Straws market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Paper Straws industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Paper Straws market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Paper Straws market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Paper Straws market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Paper Straws market. These factors have benefited the growth of the global market for Paper Straws. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Paper Straws. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Detailed profiles of manufacturers of paper straws are also included in the report to evaluate their key product offerings, financials, recent developments, and strategies. Key players operating in the global paper straws market include Huhtamäki Oyj., Hoffmaster Group Inc. (Aardvark), Biopac UK Ltd., Vegware Ltd., U.S. Paper Straw, The Paper Straw Co., Austraw Pty Ltd T/as Bygreen, Footprint LLC, Okstraw, Transcend Packaging Ltd., PT. Strawland, TIPI Straws, MPM Marketing Services Pty Ltd., Canada Brown Eco Products Ltd., Aleco Straws Co. Ltd., Zhengzhou Gstar Plastics Co., Ltd., YIWU JinDong Paper Co., Ltd., Sharp Serviettes, GP Paper Straw Sdn Bhd, and The Blue Straw.
In this study, the years considered to estimate the market size of Paper Straws are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: