Paper Straws Market - Forecast From 2019 To 2024

Description

Global paper straw market is projected to expand at a CAGR of 15.53% over the forecast period to grow to US$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 ton 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 UPDATE

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 Eco Products Ltd, Aleco Industrial Co., Ltd, 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

Others

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