Global Paper and Plastic Straws Market Overview:
In foodservice packaging for beverages, straw is considered the most important product in industrialized and developing countries around the world. The increasing pollution from plastic packaging disposal around the world creates problems for the ecosystem, which is expected to hamper the market growth. Over the past decade, the food and beverage industry has seen significant growth and rapid development with the addition of multiple restaurants, hotels, grocery carts, catering services, and food stalls serving millions of customers. This has led to an increase in the use of paper straws worldwide in the food and beverage industry. Advances in technology have led to the emergence of online food delivery platforms that are enabling the paper straw market to experience tremendous growth. The ban on plastic products in many countries around the world due to their non-degradable properties is a major market restriction. Food delivery platforms are currently having a very positive impact on the demand for paper and plastic straws. Consumer perception of the printed straws preference has increased, fueling industry growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Growing Consumer Demand for Eco-Friendly Straws and High Spending Capacity among Consumers
Market Growth Drivers:
The Increase in Demand for the Product for Several End-Use Applications, The Rise in the Number of Restaurants, Hotels, Food Stalls, Food Wagons and Catering Services and The Increasing Inclination of Consumers towards the Printed Paper Straws
Challenges:
The Environmental Impact of Plastic Waste
Restraints:
The Increase in Number of Government Reforms and Campaigns for Eradication of Plastic Straws and The Issue with Absorption and Compressive Strength with Paper Straws
Opportunities:
Increasing Disposable Income and Surge in Food Expenditure and The Advancement in Technology E-Commerce Has Become a Popular Platform to Increase Sales
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Aardvark Straws (United States), Merrypak (South Africa), Transcend Packaging Ltd. (United Kingdom), EcoPack (South Africa), Hoffmaster Group Inc. (United States), Dynamec (Cyprus), Tetra Pak International S.A. (Switzerland), BioPak (United Kingdom), Huhtamaki Oyj (Finland), SEOIL (South Korea) and Matrix pack (Greece). Additionally, following companies can also be profiled that are part of our coverage like Huhtamaki (Finland) and NIPPON PAPER INDUSTRIES CO., LTD (Japan). Analyst at AMA Research see European and United States Vendors to retain maximum share of Global Paper and Plastic Straws market by 2028. Considering Market by Paper Type, the sub-segment i.e. Virgin Paper will boost the Paper and Plastic Straws market. Considering Market by Length, the sub-segment i.e. <5.75 Inches will boost the Paper and Plastic Straws market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Paper and Plastic Straws market.
Latest Market Insights:
In September 2023, BioCup, a leading provider of sustainable foodservice disposables, launched a new line of plant-based biopolymer straws made from cornstarch and other renewable materials. These straws are biodegradable and compostable, offering a more environmentally friendly alternative to plastic straws.
What Can be Explored with the Paper and Plastic Straws Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Paper and Plastic Straws Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Paper and Plastic 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 Paper and Plastic 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 Paper and Plastic 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 New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Paper and Plastic Straws, Suppliers and Distributors of Paper and Plastic Straws, Venture Capitalists and Private Equity Firms and End-Use Industry.
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.