The global paper straws market size was valued at $ 1.51 billion in 2023. The market is expected to grow to $2.23 billion by 2030, exhibiting a CAGR of 5.75% during the forecast period . This increase can be attributed to the surge in demand for the product due to government bans on the use of single-use plastics.
This information is found in Fortune Business Insights™ research report titled “Paper Straw Market, 2024-2030.”
Intelligence source: https://www.fortunebusinessinsights.com/paper-straw-market-107149
List of Major Players Profiled in the Paper Straw Market Report:
- Fuel supply technology (China)
- Footprints (USA)
- Charta Global (USA)
- Canada Brown Eco Products (Canada)
- Double-rolled cucumber (Finland)
- Hoffmaster Group (USA)
- Transcend Packaging (UK)
- Duni Group (BioPak) (Sweden)
- Nippon Paper Industries Co., Ltd. (Japan)
- Focus Technology Co., Ltd. (China)
segment:
Rising demand for high-quality straws leads to a surge in virgin paper sector share
Based on material, the paper straws market is divided into recycled paper and virgin paper. The virgin paper segment is expected to register considerable growth during the forecast period. Such expansion is attributed to the increased technological developments in the process of pure fiber production.
The printed paper sector recorded growth that was praised for its customizability.
Based on product, the market is segmented into non-print and print. The print segment is estimated to register a substantial surge during the forecast period. Such surge can be attributed to the increasing adoption of the product in food service establishments.
The foodservice sector will gain traction due to surging product demand.
Depending on application, the market is segmented into home and food service. Of this, the food service segment is expected to show commendable expansion during the study period. Such expansion can be attributed to the increasing technological developments in the field of food delivery.
Based on geography, the market has been analyzed across North America, South America, Asia Pacific, Europe, Middle East and Africa.
Reporting Scope:
The report provides an analysis of the key factors driving business expansion during the forecast period. It also takes an in-depth look at the key trends propelling the industrial landscape during the forecast period. Further insights include the key steps taken by the key market participants to strengthen their industry base.
Drivers and Restrictions:
Market share impact of single-use plastic bans
The growth of the paper straws market can be attributed to the increasing number of government regulations and policies banning single-use plastic products, which in turn increases the demand for the product and the number of applications in the food service sector.
However, it is likely to have a negative impact on manufacturing processes and quality, hindering the expansion of the industry.
Regional Insights
North America emerges as leader with tougher regulations on single-use plastics
The North American paper straws market share is anticipated to register considerable expansion during the forecast period. Such surge can be attributed to the increasing usage of straws in the food service industry and stringent regulations on single-use plastics.
The European market is expected to register notable growth during the study period. The largest straw consuming countries in this region are Italy, France, and Germany.
Competitive Landscape:
Large companies develop new products to promote business expansion
Leading paper straw companies are focusing on adopting various strategic initiatives such as acquisitions, affiliate formation, and mergers. Also, many companies are entering into collaboration and partnership agreements to strengthen their position in the market. Additional plans include increasing research activities.
Key industrial developments:
September 2021 – Nestle launched sustainable paper straws for its Milo beverages. In collaboration with IPL team Royal Challengers Bangalore (RCB), the initiative focuses on improving sustainability.
