Global paper straw market is projected to expand at a CAGR of 15.53% over the forecast period to grow tUS$693.029 million by 2024 from US$291.463 million in 2018. Key industries driving the demand for paper straws are hotels, cafes, restaurant and lounges among others. Paper straws are eco-friendly and can be easily recycled. Further, the increasing awareness regarding harmful properties of plastic along with increasing demand for eco-friendly straws is expected to drive the market for paper straws. Further, various government rules and regulations regarding ban of plastic across various regions around the globe is anticipated to create growth opportunities for paper straws market. Furthermore, the growing food and beverage industry along with increasing preference for take away food is anticipated to boost the food packaging demand providing growth opportunities for the paper straw market.
DRIVERS
Increasing awareness regarding environment
Growing food and beverage industry
RESTRAINTS
Budget constraint for SME’s
INDUSTRY UPDATES
In August 2018, Hoffmaster Group, Inc., a leading U.S. manufacturer of premium disposable tableware, acquired Aardvark Straws, the sole U.S. producer of paper straws.
The major players profiled in the paper straws market include Hoffmaster Group Inc., Biopak pty ltd., U.S. Paper Straw, Okstraw, Vegware Ltd., TIPI Straws, Sharp Serviettes, Canada Brown EcProducts Ltd, AlecIndustrial Co., Ltd, and YIWU JinDong Paper Co., Ltd.,
Segmentation
The paper straws market has been analyzed through the following segments:
By Distribution Channel
Retailer
E-Retailer
By End-User
Restaurants
Hotels
Cafes
Lounge
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others