Paper Straws Market: Industry Analysis and Opportunity and Forecast to 2027


Posted March 30, 2021 by Vaibhavwa_mrfr21

MarketResearchFuture Presents “Paper Straws Market Research Report –Global Forecast to 2027” New Document to its Studies Database
 
Market Forecast

Paper Straws Market is projected to be valued at USD 2.44 Billion by 2024 at a CAGR of 12.61% from 2019 to 2024. The market has registered over 40% growth since 2010. Paper straws are generally sold in a variety of colors 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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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)

Market USP

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 Market 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.

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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Issued By MRFR
Business Address Office No. 528/524, Amanora Chambers, Magarpatta Road, Hadapsar Pune, Maharashtra 411028
Country India
Categories Retail
Tags Paper Straws Market
Last Updated March 30, 2021