Rockville, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a detailed industry report by Fact.MR, a market research and competitive intelligence provider, as of 2023, the global Paper Straw Market is valued at US$ 1.3 billion and is expected to jump to US$ 8 billion by the end of 2033.
Paper straws are cylindrical tubes made from paper, designed as an eco-friendly alternative to plastic straws. These straws are made from biodegradable materials, primarily paper, and offer a sustainable solution for beverage consumption
Growing government regulations to restrict the use of plastic and rising consumer demand for eco-friendly products are two major elements anticipated to fuel market revenue growth over the forecast period. Rising demand for paper straws from various applications is also anticipated to fuel market revenue growth over the coming years.
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One of the main products used in the foodservice sector is straws. The emergence of online meal-delivery websites and applications has sparked a rapid increase in innovations in food delivery, which has contributed to the rising demand for food services.
Rapidly rising need for food purchased outside the home is greatly influenced by both rapid urbanization and migration. The demand for paper straws and cutlery is gaining traction due to the expanding foodservice sector. Paper straws are now more in demand than plastic ones as a result of the ban on plastic items and growing sustainability awareness.
To lessen the reliance on traditional plastic for straws, industry trends are changing towards alternatives based on biomaterials. Furthermore, due to strict government requirements, several producers are moving towards bio-based goods for the production of straws.
Key Takeaways from Market Study
- The global paper straw market is valued at US$ 1.3 billion in 2023.
- Worldwide sales of paper straws are forecasted to increase rapidly at a CAGR of 20% from 2023 to 2033.
- Global paper straw demand is set to reach a market value of US$ 8 billion by 2033.
- Asia Pacific is leading the global market with 40% share.
- Virgin paper accounts for 60% share of the global market.
“Paper straws made from virgin paper are very strong, have high absorbency rates, and are of excellent quality. Without using any recycled materials, virgin paper is made only from the pulp of pine, spruce, or fir wood. Growing usage of virgin paper straws in the food & beverage industry will drive market expansion,” says a Fact.MR analyst
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Winning Strategy
Manufacturers are concentrating on getting rid of single-use plastic items from their portfolios. Due to enhanced production capacities, the paper straw market is anticipated to experience considerable expansion over the coming years.
For instance,
- The Paper Straw Co. introduced the first 180-degree paper straw that is entirely functional for use with single-serve beverage cartons of water, milk, and juice.
Top paper straw firms are creating unique designs, according to extensive study by Fact.MR, a supplier of market research and competitive intelligence. These designs aim to improve functionality and user experience. To address concerns about squishy or crumbling straws, manufacturers are developing straws with greater strength and durability. These designs may feature strengthened components, water-resistant coatings, or choices that can be folded or bent.
To replace plastic straws with paper alternatives, key market players are working with a variety of stakeholders, including beverage firms, foodservice providers, and suppliers of paper packaging materials. To boost their revenue, they are concentrating on new developments, product standards, quality assurance, and supply chain management.
For instance:
- In September 2021, Sun-Rype Products Ltd., a division of Canadian fruit-based beverage manufacturer A. Lassonde Inc., announced its new flexible paper straw on all of its beverage packs manufactured from recycled paper.
Key Companies Profiled
- Bygreen
- Charta Global, Inc.
- OkStraw Paper Straws
- Footprint LLC
- BioPak UK
- UFlex Limited
- Hoffmaster Group Inc.
- The Paper Straw Co
- Transcend Packaging Ltd.
- Canada Brown Eco Products Ltd.
- Huhtamäki
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global paper straw market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the paper straw market based on product type (printed paper straws, non-printed paper straws), material (virgin paper, recycled paper), and end use (foodservice, household, institutional, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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