Market Research

Paper Straw Market Business Development | Size, Value Share, Industry Segments, Competitor Analysis, COVID – 19 Outbreak and Forecast to 2024

Jul 9, 2020 1:12 PM ET
iCrowd Newswire – Jul 9, 2020

Market Insight

Global Paper Straws Market is projected to be valued at USD 2.44 Billion by 2024 at a CAGR of 12.61% from 2020 to 2024. The market has registered over 40% growth since 2010. Paper straws are generally sold in a variety of colours and patterns such as polka dots or festive foil. Moreover, manufacturers are producing paper drinking straws with high durability. Being a plant-based product, paper decomposes quickly as compared to plastic.

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Growth Opportunities in the Market

Rising demand for soft straws among the elderly and motor-impaired: Paper straws are a safe alternative to conventional straws as they lower the risk of injury caused by harder straws such as plastic, glass, and metal. Increasing concerns among the elderly and motor-impaired population are influencing established foodservice outlets to withdraw the use of plastic straws and replace them with paper straws. The rising demand for soft straws is directly influencing the sales of paper straws across the globe.

Increasing number of cafés and foodservice chains: In 2018, quick-service restaurants (QSRs) and casual and fine dining restaurants accounted for about 75% of the global restaurant and foodservice industry. Furthermore, cafés & bakery and pubs, clubs, bars, and lounges (PBCL) accounted for about 10%, while institutional catering and kiosks held the remaining 15% share of the global restaurant and foodservice industry. The number of food outlets is anticipated to increase by more than 12% during the forecast period. This is directly impacting the growth of the Global Paper Straws Market. For instance, Starbucks has started to phase out plastic straws at a rate of 1 billion plastic straws per year from its retail stores. Similarly, other food chains such as McDonald’s, All Bar One, Wetherspoon, Pizza Express, Wagamama, and Nando’s and hotels such as Marriott International have initiated the removal of plastic straws from circulation and introduced straw-less service or biodegradable straws including paper variants.

Key Players

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 S.A. (Switzerland), Sharp Serviettes (New Zealand)

List of Tables

Table 1 Global Paper Straws Market, By Region, 2017–2024 (USD Million)

Table 2 Global Paper Straws Market, By Type, 2017–2024 (USD Million)

Table 3 Global Paper Straws Market, By End Use, 2017–2024 (USD Million)

Table 4 North America: Paper Straws Market, By Country, 2017–2024 (USD Million)

Table 5 North America: Paper Straws Market, By Type, 2017–2024 (USD Million)

Table 6 North America: Paper Straws Market, By End Use, 2017–2024 (USD Million)

Table 7 US: Paper Straws Market, By Type, 2017–2024 (USD Million)

Table 8 US: Paper Straws Market, By End Use, 2017–2024 (USD Million)

Table 9 Canada: Paper Straws Market, By Type, 2017–2024 (USD Million)

Table 10 Canada: Paper Straws Market, By End Use, 2019–2024 (USD Million)

Table 11 Mexico: Paper Straws Market, By Type, 2017–2024 (USD Million)

Table 12 Mexico: Paper Straws Market, By End Use, 2017–2024 (USD Million)

Continued….

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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.

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