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). Straws 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 growing 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 made a great extent to the market. The government has made strong actions toward this market.
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 the 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 the 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 recent Paper Straws Market industry news.
Key Companies in the paper straw market include
Huhtamäki Oyj
Hoffmaster Group Inc.
Biopac Ltd
ECOPRO2
The Paper Straw Co., among others
Market Segment Overview
The Paper Straws Market 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.
Regional segmentation of the market
The Paper Straws Market Size 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.
Paper Straw Industry Developments
October 2019: 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.
April 2022: The first U-shaped paper straw manufacturing line in India has been announced by UFlex Limited, a flexible packaging material solution, and polymer science company, as part of its initiative to bring about a sustainable shift. The production line was set up at the company's Sanand, Gujarat, aseptic liquid packaging facility.
July 2022: The official launch of its U-shape paper straw solutions for the Indian market was announced by Lamipak, one of the leading providers of aseptic packaging products and services. By the third quarter of this year, Lamipak hopes to expand its capacity in Indonesia, where it currently operates a production line for U-shaped paper straw. When both paper straw production lines are fully operational, they will each produce 200 million straw each month, with an additional 100 million per month added in 2023.
Browse The Related Report:@
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 Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
