Global Paper Straw Market to Grow at a CAGR of over 20% between 2019 and 2025 – Facts & Factors
Oct 23, 2020
Global paper straw market was valued over USD 580 Million in 2019 and is expected to reach a CAGR of over 20% between 2019 and 2025.
Pune, India - October 22, 2020 /MarketersMedia/ —
According to the Facts and Factors, Research Report, the global paper straw market was valued at over USD 580 Million in 2019 and is expected to reach a CAGR of over 20% between 2019 and 2025.
Increased application of the food straw in the end-use industries is the major factor driving the global market. Increasing consumer preference toward eco-friendly products and rising government obligations toward reducing plastic usage are other factors fuelling the growth of the paper straw market.
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In terms of both value and volume virgin paper expects to hold a major share during the forecast period
In the material type category, virgin paper anticipates dominating the market owing to its beneficial characteristics. Virgin paper straws are of high quality as they have a high absorption rate and are reliable and strong. This avoids wastage of straws for single usage, hence preferred more by the manufacturers and consumers.
Non-printed paper straws anticipate dominating the product type segment
Preference for non-printed paper straws is more since it avoids the ingestion of any harmful chemicals in the form of inks or dyes. The paper straws are manufactured using food-grade paper.
Among the end-use applications, food service segment anticipates to grow at the highest growth rate during the forecast period
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The foodservice segment is growing at a rapid rate in most of the regions. Increasing industrialization and increasing disposable income are some of the factors triggering the growth of the foodservice segment. Thus, market players offering food services are looking out for products that are eco-friendly and sustainable. The demand for paper straws is increasing in the foodservice sector owing to growing awareness regarding the ban of plastic products.
The paper straw market expects to witness the highest CAGR in Europe
The region has witnessed an increased demand for paper straws in the last few years. The major countries that contribute to the European paper straw market are the United Kingdom and Germany. The key factor that supports the paper straw market is a rapidly growing food service business. Other factors that have aided in the market demand are environmental issues and government protocols for plastic restrictions.
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Key Market Players
Some of the key players in the global paper straw market include Transcend Packaging Ltd., Footprint, Canada Brown Eco Products Ltd., Hoffmaster Group, Inc. Huhtamaki Oyj, Fuling Global Inc., among others.
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The report on the global paper straw market is segmented into:
Global Paper Straw Market: By Material Type Segmentation Analysis
Virgin paper
Recycled paper
Global Paper Straw Market: By Product TypeSegmentation Analysis
Printed
Non-printed
Global Paper Straw Market: By Straw LengthSegmentation Analysis
10.5 inches
Global Paper Straw Market: By Straw Diameter Segmentation Analysis
0.4 inches
Global Paper Straw Market: By End-Use ApplicationSegmentation Analysis
Foodservice
Institutional
Household
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