Paper Straws Market Overview
Paper Straw Market Size was valued at USD 1.35 billion in 2021. The paper straw market industry is projected to grow from USD 1.54 billion in 2022 to USD 3.80 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.80% during the forecast period (2022 – 2030). The growing food service industry and the shift in consumer preference towards sustainable packaging solutions are the key market drivers enhancing the market growth.
Paper Straws Market Insights are most commonly used in general stores and eateries. Plastic straws are widely used earlier, but people have changed due to the environment-friendly mindset. Now the industry shifted to the paper straws market to grow towards the eco-friendly. The plastic straws are available at a reasonable price. The plastic straw market is user-friendly and non-biodegradable. The extensive use of plastic straws has brought it to a great extent to the market. The government has taken strong actions toward this market.
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Most industrialists and common people, and businesses have shifted to paper straws. Paper straws are a great alternative to plastic straws because to make less waste. Paper straws are disposable and biodegradable and are also preferred in industry. Paper straws make a huge difference in the environment, and this difference made positive changes in the industry. The paper straws market is good for land and aquatic animals too. The use of environmentally friendly plastic straws has gone in recent years.
As there is a growth in the commercial establishments in the eateries and restaurants, the paper straws market builds its presence every day. The market has boosted the growth in industry. Many other kinds of straws are also available in the commercial sector. Since many restaurants and cafes are established in the world, the need for paper straws is increasing at a rapid pace. During the covid 19 situation, the Paper Straws Market suffered the initial impact, but later, the market balanced itself.
The major drivers of the market are the mindset of the consumers and the increased number of food deliveries, and ease of food order and delivery options. Now people have become more aware of the sustainable lifestyle. The business is encouraging the biodegradable paper straws market and bringing new opportunities. This market research report holds all the information on market and regional segments with the recentPaper Straws Marketindustry news.
Market Segment Overview
The Key Paper Straws Market Players Size is divided into segments based on criteria, including type and end-user. Based on type, the market segment is divided into flexible and non-flexible straws. The flexible straws are better than the non-flexible ones. By end-user, the segments are divided into the household and commercial segments.
Key Companies in the paper straw market include
- Huhtamäki Oyj
- Hoffmaster Group Inc.
- Biopac Ltd
- The Paper Straw Co., among others
- Paper Straw Industry Developments
Bio Straw Ltd. (UK) has been acquired by Transcend Packaging (UK). Transcend Packaging will receive all manufacturing assets currently owned by Bio Straw (UK). This tactical move will also increase the product’s consumer base and strengthen straw manufacturing and marketing capacities.
Regional segmentation of the market
The Paper Straws Market Outlook divides into regional markets: North America, Asia Pacific, Europe, and the Rest of the World. The North American region will dominate the Market share among all the market regions. This is the highest CAGR gaining market for 75 percent of North Americans. The paper straws market contributes to the leading producers of Paper Straws.
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Recently the government has banned plastic products in the market, but certain leading beverage companies deny or ask the government to give some time to them. Other key industry players also take up promotional activities to support the marketing and sales of their products.
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