Global Reusable Straws Market Overview:
Reusable straws market has high growth prospects owing to increasing concerns regarding environmental safety and government initiative for banning plastic products. Growing awareness about the reusable straws driving the market demand. Moreover, growing adoption by foodservice providers and increasing demand from the developing economies expected to drive the demand for reusable straw in the long-standing. In various developed economies, key manufacturers are highly focusing on the development of the reusable straws.
Growth Drivers
- Growing Environmental Concerns and Stringent Regulations on Plastic Use
- Growth in Food Service Industry
Roadblocks
- Fluctuating Raw Material Prizes
Opportunities
- Increasing Numebr of Bars, Lounges, and Hotels in Developing Contries
- Rising Consumer Demand for Eco-Friendly Straws
Challenges
- Lack of Awareness in the Emerging Economies
- High Cost of Reusable Straws
Competitive Landscape:
Some of the key players profiled in the report are Tetra Pak International SA (Switzerland), Biopac (UK) Ltd. (United Kingdom), Aardvark Straws (United States), Simply Straws (United States), Merrypak (South Africa), Vegware (United Kingdom), Aleco Straws (Hong Kong), Ecostrawz Ltd (United Kingdom), Greens Steel (United States) and The Final Co. LLC (United States). Additionally, following companies can also be profiled that are part of our coverage like Simply Straws (United States) and Softy Straws (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Reusable Straws market by 2026. Considering Market by Material , the sub-segment i.e. Silicone will boost the Reusable Straws market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Reusable Straws market. Considering Market by End User, the sub-segment i.e. Cafes and Schools will boost the Reusable Straws market.
KFC announced a new global sustainability commitment that all plastic-based, consumer-facing packaging will be recoverable or reusable by 2025. KFC has developed a roadmap that includes partnering with major suppliers and franchisees globally to identify plastic alternatives in each market.
In 2018, both UK and Scottish Government have directed their initiatives in banning the use of plastic straws driven by consumer awareness.
What Can be Explored with the Reusable Straws Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Reusable Straws Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Reusable Straws
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Reusable Straws market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Reusable Straws market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Reusable Straws Manufacturers, Reusable Straws Suppliers and Distributors, Potential Investors, Raw Material Suppliers, Associations, Government and End Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.