ID: MRFR/CR/7038-HCR | February 2021 | Region: Global | 100 pages
Paper Straws Market is projected to reach USD 3.78 Billion by 2030 at a CAGR of 13.80% from 2020-2030. Straws are very commonly used and often spotted in general stores and eateries. While plastic straws were earlier in widespread use, and environment-friendly mindset has made people shift towards paper straws. Although plastic straws are cheap and user-friendly, they are non-biodegradable. Thus, the use of plastic straws has littered the earth to a great extent till now. The amount of plastic waste and straws’ contribution to it is highly polluting for the earth. Therefore, the majority of people and businesses have shifted to paper straws. Paper straws are a great alternative to plastic straws as they get the job done and create less waste. Paper straws are easily disposable and biodegradable and are also preferred because of their recyclable power.
When commercial establishments and people turn to sustainability, paper straws make a huge difference in the environment. This difference is positive and is good for land and aquatic animals too. The use of environmentally friendly plastic alternatives has gone up in recent years. There is a growth of commercial establishments like restaurants and eateries that use paper straws every day. A growth in takeaway and food delivery culture has also boosted growth in the Paper Straws Market.
Many other straws are used in the commercial sector. Since many restaurants and cafes are coming up in the world, straws are always in use. Plastic straws are still in use and own a significant share of the global straw market. However, the biodegradable, environment-friendly sector of straws has been growing. In this Paper, Straws Market Report, we discuss various drivers, market challenges, COVID 19 impact, and other aspects of the Global Market that affect its future projections. In the Paper Straws Market Forecast period, the sector is set for growth due to many reasons.
COVID 19 Impact
The COVID 19 pandemic caused an economic slowdown over the entire business scenario of the globe. The Paper Straws Market also suffered under the initial impact of the COVID 19 pandemic. COVID 19 pandemic was an unprecedented situation that all market sectors took time to adapt to. As restaurants, diners, and cafes shut down to avoid contamination, the use of paper straws declined to an unprecedented low. However, as food deliveries and takeaways increased, the Global Market revived. The growth of consumer mindset and ease of food order and delivery has pushed the sale of Paper Straws further up. Moreover, new entrants in the restaurant and hotel sector make a conscious decision to adopt Paper Straws for environmental safety.
With vaccinations and the resumption of commercial activity, paper straws will go up, and Paper Straws Market Growth will resume. Since eating out culture is on the rise and people prefer to drink smoothies and shakes, Paper Straws are in for enhanced sales. In the aftermath of the COVID 19 pandemic, the Global Market will grow, and an increase in Market revenue will be observed.
Growth in the environment-friendly mindset of people and steps towards a sustainable lifestyle is a key driver of the Paper Straws Market. People are more aware of their effect on the environment. Plastic straws are among the top contributors to marine waste accumulation and harm to aquatic animals worldwide. Thus, people prefer printed paper straws for drinking because of the ease of use and guilt-free disposal. Being able to dispose of straw without the guilt of creating waste is dominant in public today.
Moreover, restaurants and cafes prefer to give paper straws in takeaways and food deliveries. Many food businesses treat this as a part of their commercial responsibility towards nature. Thus, there is a gradual increase in the adoption of paper straws.
Apart from businesses encouraging the use of biodegradable paper straws, national governments worldwide are slowly banning plastic in commercial packaging. Most countries are banning the use of plastic bags and straws. Thus, paper bags and paper straws are replacing plastic straws in the different regional markets. The gradual ban of plastic straws in different national markets opens up new regional markets for paper straw producers. With a lack of biodegradable options, Paper Straws have the opportunity of dominating the straw market vacated by plastic straws.
Some significant restraints affect Paper Straws Market Growth negatively. For example, the production of paper straws is pricey and follows a complex process. Thus, the price of paper straws is higher than plastic straws. This may be a discouragement for small cafes and restaurants. On the other hand, paper straws are very susceptible to liquids. They lose their strength and usability within 30 minutes of use which is a problem for customers and food outlets. These observations are some notable restraints of the Global Market that counteract its growth.
There are some market challenges that the Global Market has to resolve to create channels of Paper Straws Market Revenue. For example, metal straws are now in vogue as people look for personalized, long-term use alternatives to paper straws. People prefer buying metal straws that they can carry around, as these remain exclusive and hygienic. Another challenge is to make paper straws more durable and less absorbent to be used with any drink at any time.
Cumulative Growth Analysis
The prospects of Paper Straws Market Growth are high in the Market Forecast period. The Paper Straws Industry is set to grow at a tremendous rate of 12.61 percent in the future. This double-digit growth rate indicates that more businesses and people will adopt paper straws shortly.
The Paper Straws Market Size is divided into different segments based on different criteria. A study of Paper Straws Industry Analysis is very important to know about the market in detail. The two main segments of the Global Market are divided by type and by end-user.
By type, there are flexible and non-flexible straws. Flexible straws are better and preferred because they offer ease of drinking from different angles and positions. However, non-flexible straws with a straight body are more used because of their application in developing countries and the fast-food industry. The non-flexible segment leads by Paper Straws Market share.
By end-user, the main segments are household and commercial. The commercial segment is the clear leader in Paper Straws Market share because of the extensive use of paper straws in restaurants and the café industry. The commercial segment will record-high share growth in the forecast period too.
The Paper Straws Market Size divides over different regional markets that contribute to Market Revenue. For an understanding of revenue and profit channels, a Global Market Analysis by regions is necessary. The major regional markets of Paper Straws Industry are North America, Europe, Asia Pacific, and the Rest of the World. The North American region will dominate Market share by revenue as 75 percent of North American restaurants shift to paper straw use. The highest CAGR in the arket forecast period will be recorded in the Asia Pacific due to high product awareness and a greater focus on sustainability.
The competitive landscape of the Paper Straws Market is dispersed with multiple key companies that produce paper straw every day. The major competitors of the business landscape are as follows-
These top competitors of the Paper Straws Market contribute to Industry Trends and revenue through various developments. A Global Market Analysis by competitors is necessary to know about leading producers of Paper Straws. Most of the Paper Straws producers exist in the North American and European markets.
The key players of the Paper Straws Market undertake many developments to keep the market growing. Some key players undertake research and development of new characteristics to establish new product lines of paper straws. Other key players take up promotional activities to support the marketing and sales of their products. Two or more key players often become part of a merger or acquisition to improve business prospects and collective growth opportunities.
The Paper Straws Market Outlook summary is as follows-
The Paper Straws Market Outlook is a complete view of the Global Market, focusing on different aspects like its major drivers, restraints, opportunities, and challenges. The report takes the irreversible impact of the COVID 19 pandemic before proceeding towards Paper Straws Industry Forecast. The report also pays attention to the analysis of regional markets and industrial segments so that the reader can get an inside view of the Industry. The report discusses recent developments and Global Market trends that project over the forecast period. Cumulative growth analysis of the market gives a better view of the future CAGR.
Frequently Asked Questions (FAQ) :
Paper Straw Market is projected to grow at a 13.80% CAGR between 2020-2030
North America is expected to dominate the Paper Straw Market.
Paper Straw Market is predicted to touch USD 3.78 billion by 2030.
The commercial segment will lead the Paper Straw Market.
Flexible type segment will dominate the Paper Straw Market.