A recent report published by Infinium Global Research on paper straws market provides an in-depth analysis of segments and sub-segments in the global as well as regional paper straws market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional paper straws market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global paper straws market. According to the report, the global paper straws market is projected to grow at a CAGR of 14.62% over the forecast period of 2019-2025.
The flourishing food and beverage industry have changed the dynamics of the packaging and cutlery industry. The changing eating habits of the consumer also affects the cutlery and packaging industry along with the food and beverage industry. Straws are the part of cutlery and packaging which has evolved as the fast food and restaurant chains have increased. The paper straw market is relatively new and is highly fragmented in nature. A number of market players control a large part of the market share. The key players in the market including Hoffmaster Group Inc., Huhtamäki Oyj., Biopac UK Ltd., The Paper Straw Co., Eco-Straw by green Australia, U.S. Paper Straw, and others are focusing on developing new products to increase the revenue.
The growing consumer demand for eco-friendly products is majorly driving the paper straws market. The growing awareness among the population regarding environment protection has increased the demand for eco-friendly products such as paper straws. Moreover, the improvised characteristics and high sustainability are expanding the demand for paper straws. Furthermore, the increasing number of food outlets is supporting the growth of the paper straws market. The changing eating habits of the consumer towards convenient and packaged food have boosted the fast food and restaurants industry, which in turn helps the growth of the paper straw market. However, the high cost of paper straws is the major restraining factor for the growth of the paper straws market. Nevertheless, the increasing use of recycled raw materials is expected to offer lucrative opportunities for the key players in the paper straws market.
In terms of region, North America held the highest market share, dominating the global paper straws market. The dominance of the North America market attributed to the government initiatives to ban the single-use plastic and the increasing consumer preference towards eco-friendly products. Moreover, the growing fast-food chains and the high population of fast food consumers in the region are expected to boost the growth of the paper straws market in North America.
The report on global paper straws market covers segments such as material, product type, length, sales channel, and end-use. On the basis of material, the sub-markets include kraft paper, and recycled paper. On the basis of product type, the sub-markets include printed, and non-printed. On the basis of length, the sub-markets include <10cm, 10-15cm, 16-20cm, and >20cm. On the basis of sales channel, the sub-markets include manufacturers, distributors, retailers, and E-retail. On the basis of end-use, the sub-markets include food service, institutional, and household.
The report provides profiles of the companies in the market such as Hoffmaster Group Inc., Huhtamäki Oyj., Biopac UK Ltd., The Paper Straw Co., Eco-Straw Bygreen Australia, U.S. Paper Straw, GP Paper Straw Sdn Bhd, Footprint LLC, Sensil International LLC., PT. Strawland, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of paper straws market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.