PUNE, India, Dec. 12, 2023 (Globe Newswire) — The global paper straws market size is valued at USD 1.45 billion in 2022, growing from USD 1.51 billion in 2023 to 2.2 billion by 2030. It is predicted to grow to USD 300 million, showing a CAGR. It was 5.75% during the forecast period. This increase can be attributed to the surge in demand for products due to the government’s ban on single-use plastics.
This information is provided by: Fortune Business Insight™ In the research report, “Paper straw market, 2023-2030”.
Get a free sample survey PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/paper-straw-market-107149
List of major companies profiled in Paper Straws market:
- Hoffmaster Group, Inc. (USA)
- Transcend Packaging (UK)
- Duni Group (BioPak) (Sweden)
- Nippon Paper Industries Co., Ltd. (Japan)
- Focus Technology Co., Ltd. (China)
- Refueling technology (China)
- Footprint (US)
- Charter Global (USA)
- Canada Brown Eco Products Ltd (Canada)
- Huftamaki Oisi (Finland)
Report scope:
The report analyzes the prominent factors driving business expansion during the forecast period. Dive deeper into the key trends driving the industry landscape throughout the forecast period. Additional insights include the key steps taken by key market players to strengthen their industry foothold.
Driver and restraints:
Ban on single-use plastic products impacts market share
The growth of the paper straws market can be attributed to the strengthening of government regulations and policies banning single-use plastic products. This is due to increased product demand and increased applications in the food service sector.
However, industry expansion is likely to be hampered by negative impacts on manufacturing processes and quality.
Impact of the new coronavirus infection:
Decrease in product demand impacts industry growth
The coronavirus pandemic has caused supply chain disruptions and manufacturing sector closures. Moreover, due to social distancing norms, restaurants and hotels have ceased operations. This resulted in a decrease in product sales. However, the easing of regulations led to a recovery in product demand over the estimated period.
segment:
By material
- virgin paper
- recycled paper
By product
By use
By geography
- North America
- Europe
- Asia Pacific
- middle east and africa
- south america
Get a quote now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/paper-straw-market-107149
regional insights
North America is expected to be the key region driving the growth of the paper straws market as it is anticipated to witness significant expansion during the forecast period. This surge is primarily related to the widespread use of straws in the food service sector and the strict regulations placed on single-use plastics.
Europe is expected to continue to see significant growth over the study period. In particular, countries such as Italy, France, and Germany stand out as the largest consumers of straws within the region, contributing to the growth of this market.
Top trends in the global paper straws market:
- Transitioning from plastic to paper: Increasing awareness of environmental issues, stricter regulations and consumer preferences for sustainable products are driving a shift from plastic straws to environmentally friendly paper alternatives.
- Growing demand in the restaurant industry: Paper straws are increasingly being adopted by food service sectors such as restaurants, cafes and bars as establishments seek sustainable options and cater to environmentally conscious customers.
- Innovation in design and durability: Continuous innovation in paper straw design focuses on durability, functionality, and ease of use to match or exceed the performance of plastic straws and meet consumer expectations.
- Expansion in emerging markets: Increasing awareness of their environmental impact has made their way into emerging markets, leading to increased adoption of paper straws as a responsible choice.
- Collaboration and partnership: Collaborative efforts among industry players, including partnerships between manufacturers, distributors, and companies, to strengthen production capacity and distribution networks for paper straw products.
- Customization and branding: Customization options for paper straws can meet a company’s specific branding requirements, allowing for personalized designs, colors and packaging, increasing brand awareness.
- Advances in technology: The adoption of advanced manufacturing techniques and materials improves the quality, strength and cost efficiency of paper straws, making them more competitive with traditional plastic alternatives.
Competitive environment:
Major companies develop new products and promote business expansion
Leading paper straw companies are focusing on introducing various strategic initiatives such as acquisitions, alliances, and mergers. Many companies are also entering into collaboration and partnership agreements to strengthen their market positions. Additional efforts include increased research activity.
Detailed table of contents:
- introduction
- Research scope: Defined parameters of the study.
- Market segmentation: Market classification.
- research method: Approach used for data collection.
- Definitions and assumptions: Clarifications and assumptions made in the study.
- executive summary
- Market trend
- Market drivers: Factors driving market growth.
- Market constraints: Factors hindering market growth.
- Market opportunity: Possible means of market expansion.
- Market trend: New trends shaping the market.
- key insights
- Straw market overview
- Regulatory status: Examining regulations affecting the industry.
- Industry SWOT analysis: Assessing strengths, weaknesses, opportunities, and threats.
- Recent industry developments: Policies, partnerships, new product launches, mergers and acquisitions.
- Impact of the new coronavirus on the paper straw market:
- Assessing the impact of the novel coronavirus on the market.
- Supply chain challenges due to the new coronavirus infection (COVID-19).
- the potential opportunities created by COVID-19;
- Global Paper Straws Market Analysis, Insights, and Forecasts (2019-2030)
- Main findings/overview
- Market size estimation and forecast:
- By material (value):
- virgin paper
- recycled paper
- By product (value):
- By application (value):
- By region (value):
- North America
- Europe
- Asia Pacific
- south america
- middle east and africa
- By material (value):
Table of contents continued…!
Talk to our experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/paper-straw-market-107149
Development of major industries:
- September 2021 – Nestlé has launched sustainable paper straws for Milo drinks. In collaboration with IPL team Royal Challengers Bangalore (RCB), the initiative focuses on promoting sustainability.
Read related insights:
Webcomics Market to Reach $11.12 Billion by 2028 | Industry Expected to Generate a CAGR of 6.1% (2021-2028)
Office furniture market to be worth $80.62 billion by 2029 | CAGR 7.48%
Cashmere clothing market to reach USD 4.44 billion by 2030 | CAGR 4.2%
About us:
Fortune Business Insight™ provides accurate data and innovative enterprise analytics to help organizations of all sizes make better decisions. We customize new solutions for our clients and help them address a variety of business-specific challenges. Our aim is to provide them with a detailed overview of the markets in which they operate and provide them with comprehensive market intelligence.
address:
Fortune Business Insights Co., Ltd.
9th floor, icon tower, banner,
Mahalunge Road, Banner, Pune – 411045,
Maharashtra, India.
phone:
we: +1 424 253 0390
England: +44 2071 939123
Asia Pacific: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Please follow us: LinkedIn | Facebook | Twitter