Paper Straw Market worth $11.5 billion by 2028
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05 Jul, 2023, 02:30 ET
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CHICAGO, July 5, 2023 /PRNewswire/ -- The report "Paper Straw Market by Type (Flexible, Non-flexible), Material Type (Virgin paper, Recycled paper), Product Type (Printed, Non-printed), Straw Length, Straw Diameter, End-use Application (Foodservice, , Household), and Region - Global Forecast to 2028", is projected to grow from USD 4.9 billion in 2023 to USD 11.5 billion by 2028, recording a CAGR of 18.9% during the forecast period.
The global paper straw market is anticipated to experience significant growth due to several factors. Firstly, there is a growing demand for sustainable, single-use disposable products and solutions in various industries such as foodservice, institutional, and household sectors. This demand is driven by the increasing awareness and concern about the environmental impact of plastic straws. As governments implement reforms and campaigns to ban or restrict the use of plastics, the demand for alternative options like paper straws is expected to rise. Additionally, consumer adoption and demand for sustainable and environment-friendly straws are contributing to the market's growth. Consumers are increasingly conscious of their ecological footprint and are actively seeking out eco-friendly alternatives. Paper straws, being biodegradable and compostable, offer a more sustainable option compared to plastic straws. The rising popularity of sustainable practices and the willingness of consumers to make environmentally responsible choices are propelling the demand for paper straws, thereby driving market growth.
Browse in-depth TOC on "Paper Straw Market"400 – Tables80 – Figures371 – Pages
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The flexibles segment is projected to grow at the highest CAGR from 2023 to 2028, in terms of value & volume.
The flexible paper straw segment is projected to grow at the fastest rate in the future due to its numerous advantages and increasing demand for eco-friendly alternatives. Specifically, the usage of U-shaped (flexible and bendable) straws in tetra packs contributes significantly to this growth. These innovative straws allow consumers to conveniently enjoy their beverages without compromising on sustainability. The U-shaped design ensures that the straw reaches the bottom of tetra packs, enabling efficient consumption of packaged liquids, such as juices and dairy products. This feature enhances the overall user experience while addressing environmental concerns, making it an appealing choice for both manufacturers and environmentally-conscious consumers.
The virgin paper segment is projected to grow at the 2nd highest CAGR from 2023 to 2028, in terms of value & volume.
The virgin paper segment, by material type, of the paper straw market, is projected to grow at a 2nd highest CAGR during the forecast period, in terms of both value and volume. This growth can be attributed to the rising demand for virgin paper straws across various industries, including foodservice, household, and institutional sectors. Virgin paper straws offer several key advantages that contribute to their increasing popularity. Firstly, they are known for their durability and reliability, ensuring that they do not easily break or disintegrate during use. Additionally, virgin paper straws have a high absorbance rate, effectively maintaining their structural integrity even when in contact with liquids for extended periods. Another important factor driving the demand for virgin paper straws is their ability to provide high-quality, effective, and sustainable alternatives to traditional plastic straws. This aspect encourages the global adoption of virgin paper straws as a more environmentally friendly option.
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The non-printed segment, by product type, is estimated to lead the paper straw market in 2023, in terms of value and volume.
Paper straws are one of the best biodegradable disposable drinking straws available in the market. These straws offer several advantages, including affordability, food safety, FDA approval, and FSC certification. Non-printed paper straws, specifically, are the preferred option due to their eco-friendly nature and extensive use across various industries. They eliminate concerns about ink or dye ingestion since they are manufactured using sustainably sourced or food-grade paper. As a result, non-printed paper straws are highly popular for a wide range of applications.
The Asia Pacific region is projected to lead the paper straw market during the forecast period, in terms of value and volume.
Asia Pacific is projected to dominate the paper straw market during the forecast period. This dominance can be attributed to several factors. Firstly, there is a growing demand for sustainable, cost-effective, and recyclable single-use disposable products and solutions in densely populated countries like India and China. These countries have a large customer base for the foodservice industry due to their increasing population, which in turn is expected to drive the growth of the paper straw market in the region. Additionally, factors such as rising disposable income, evolving lifestyles of customers, and increasing awareness regarding the use of sustainable straws are projected to contribute to the demand for paper straws in this region.
Companies such Hoffmaster Group Inc. (US), Transcend Packaging Ltd. (UK), Huhtamaki Oyj (Finland), Footprint (US), Fuling Global Inc. (China), Bygreen (Australia), Biopak (Australia), Soton Daily Necessities Co., Ltd. (China), and Canada Brown Eco Products Ltd (Canada), Nippon Paper Industries Co Ltd (Japan) are the key players operating in the paper straw market. Expansions, contracts, new product developments, and acquisitions are some of the major strategies adopted by these key players to enhance their positions in the paper straw market.
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