Straw Market is projected to register a CAGR of 5.9% during 2022-2029

The global straw market is valued at US$ 18.1 billion in 2022 and is expected to grow at a CAGR of 5.9% over the forecast period to reach US$ 28 billion by 2029.

The following factors can be linked to this expansion:

Because disposable straws are non-biodegradable, smart packaging solutions rely on them.
There are numerous forms, sizes, and colours to choose from.
The food sector prefers it to maintain the sanitary levels of their service.
Collaborations and Joint Ventures

Stora Enso Oy, a leading player in the packaging industry, and Sulapac Oy, a cosmetic packaging solution provider, formed a collaboration to create a renewable straw - 'Sulapac Straw'.

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Key Companies Profiled

Hoffmaster Group Inc.
Tetra Pak International S.A.
Hay Straws
Stora Enso Oy
FinalStraw
Bio Agave
Aardvark Straws
Absolute Custom Extrusions
Southeastern Liquid Analyzers
Klean Kanteen
Paper Straws are preferred for their Sustainable Nature

The paper straw market is anticipated to have considerable sales growth throughout the anticipated time frame. This paper makes excellent and powerful straws that are durable, sturdy, and absorbent. Additionally, customers do not even need to use a lot of straws for single use. The reduction of waste is a result of this. The category will thus control the market in the not-too-distant future. The expansion of the paper straw sector is anticipated to be constrained by the high costs of production and processing.

Mechanical properties and absorption issues plague these straws. The danger to the paper straw market would come from a lack of production capacity over the anticipated period.

Paper has been witnessing solid rise in demand as an eco-friendly, sustainable alternative to single use plastic, which indicates a massive opportunity for paper straws in the near future. Currently, plastic straws and paper straws collectively account for the most of global market revenues.

Key Takeaways - Straw Market Study

Plastic straws are the most common trash item found in ocean. To overcome this and decrease the consumption of plastic straws, various manufacturers are offering recyclable, reusable, and compostable straws
Increasing number of bars and lounges, restaurants, and quick service restaurants is intensifying consumption of straws
Brand owners are investing in marketing and branding of products, which are expected to gain consumers' attention
Straw manufacturers are collaborating to produce custom-made straws with logos and taglines for marketing as well as branding
To eliminate the usage of single-use plastic straws, foodservice companies and brand owners such as McDonald's and Starbucks are using paper and bio-based straws

Foodservices will raise the bar for the Straw Market
Future Market Insights predicts that this market for materials would be dominated by the food service sector. It is anticipated that it would maintain its dominance during the foreseeable time due to the implementation of ecologically friendly alternatives for single-use disposable items to do away with plastic straws. Due to growing environmental awareness and an increase in the number of single-use plastic product bans in the food service industry, it is projected that the market for paper straws will grow dramatically over the next years.

The shift in consumer preferences from offline to online sales channels within the food service industry is anticipated to promote growth in the straw market.

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Key Segments of Straw Industry Research

By Product:

Plastic Straws
Bamboo Straws
Metal Straws
Paper Straws
Glass Straws
Silicone Straws
Others
By Straw Length:

20 cm Straws
By Sales Channel:

Straw Manufacturers
Straw Distributors
Straw Retailers
E-retail of Straws
By End Use:

Foodservice
Institutional
Households
Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage

2.2. Market Definition

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation

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This release was published on openPR.