The Paper Straws Market has been growing rapidly due to the increasing demand for eco-friendly items and growing government mandates to reduce plastic consumption. The global market is expected to have a rapidly inclining revenue CAGR over the forecast period due to rising demand from different end-use applications, including foodservice, institutional, and home usage. The paper straws are composed of paper and are 100 percent recyclable and biodegradable.
The global market for paper straws has been segmented based on material type, product type, length, diameter, and end-use applications. The virgin paper segment is expected to register significant revenue growth over the forecast period. The non-printed segment is expected to account for the largest revenue share in the global market, and the 7.75-8.5 inches segment is expected to lead the market in terms of length. During the projected timeframe, the CAGR of the 0.15 inches segment is expected to be the largest. The foodservice segment is expected to develop at the fastest rate and generate high paper straws market share in the upcoming years.
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Key companies in the global market include:
Footprint, Transcend Packaging Ltd., Hoffmaster Group, Inc., Huhtamaki Oyj, Fuling Global Inc., and Canada Brown Eco Products Ltd.
Drivers:
- Growing government mandates to reduce plastic consumption
- Rising demand for eco-friendly items from customers
- Increasing number of bans and limitations on the usage of plastic
- Rising demand for paper straws from different end-use applications
- Rising environmental awareness and increasing number of single-use plastic bans in the foodservice industry
- Technological advancements and increasing production and manufacturing capacity and output by key players
Restraints:
- Higher cost compared to plastic straws
- Limited shelf life compared to plastic straws
- Availability issues due to lower production capacity compared to plastic straws
- Limited scope for innovation and product differentiation in the paper straw market
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