Paper Straw Market Size Hitting New Highs Explored with CAGR of 20.33 %, Opportunities, Revenue, Industry Trends and Forecast by 2029

Paper Straw Market research report has been prepared with a nice combination of industry insight, smart solutions, practical solutions and newest technology to give better user experience. Under market segmentation chapter, research and analysis is done based on several market and industry segments such as application, vertical, deployment model, end user, and geography. To perform this market research study, competent and advanced tools and techniques have been utilized that include SWOT analysis and Porter's Five Forces Analysis. Businesses can surely anticipate the reduced risk and failure with the winning research report.

Data Bridge Market Research analyses that the paper straw market was valued at USD 847.04 million in 2021 and is expected to reach USD 3723.02 million by 2029, registering a CAGR of 20.33 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

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Market Analysis and Size

Paper straws are becoming more and more popular during current situation due to increase the awareness about sustainability and plastic straws become the target of growing government regulations. All across the globe, several countries are moving towards the use of paper straws instead of plastic because choosing paper over plastic as an eco-friendly alternative. Food and beverage industry has witnessed for the significant growth and rapid development of the paper straw market due to the increase in many catering services, restaurants, hotels, food wagons, and food stalls serving millions of customers.

Paper straw is a utensil which has intended to carry the matter of a beverage to one's mouth. Paper straws are normally made from the virgin papers, but due to environmental concerns, the new regulation has led to an increase in reusable straws. These straws are often made up from recycled paper. Drinking straws is the single used product.

Paper Straw Market Dynamics

Drivers

Huge demand in food sector
The food industry is the main consumer of the paper straws. Due to rapid urbanization and increasing population upsurge, the number of food eateries and outlets increases the demand of paper straw and is expected to drive the growth of the paper straw market.

Rise the demand of eco-friendly solution
Paper straws are the primary choice for most stores because they can be easily decomposed, recycled, and easy to use. A single paper straw can be used for 25 to 30 years. It does not harm the environment. The use of paper straw is completely environment friendly.

Increase the demand of paper over plastic
The demand of paper straws increases due to the ban for plastic straws in several countries which has accelerated the growth of paper straws market. The customer demand for durable and sustainable alternatives to plastic straws is expected to gain traction during the forecast period.

Rise in the number of government initiatives for spreading consumer awareness
The paper straw market is expected to rise due to increasing government initiatives to spread consumer awareness for using paper straw. With the rise in government activities and strict rules and regulations to raise awareness about paper straw, the market is being pushed by augmented the demand for paper straw from various industries, including hotels, malls, and many stores.

Opportunities

Paper straws offer many opportunities for companies to start the production of these straws as an alternative to plastic. New paper straw startups are popping up and Sales are skyrocketing everywhere to help the meet demand. Companies encouraging the use of recyclable paper straws and national governments are slowly banning on the use of plastic in commercial packaging. Several countries are banning the use of straws. Therefore, paper straws are replacing plastic straws in the different markets. With a lack of biodegradable options, the paper straws have the opportunity to lead the paper straw market vacated by plastic straws.

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