Paper Straw Market : Global Opportunity Analysis and Industry Forecast, 2021-2031
WILMINGTON, DELAWARE, UNITED STATES, November 20, 2023 /EINPresswire.com/ — Allied Market Research's recent report, "Paper Straw Market," unveils a promising trajectory for the eco-friendly utensil industry. Valued at $865.30 million in 2021, the paper straw market is projected to soar to $3 billion by 2031, exhibiting a robust CAGR of 13.3% from 2022 to 2031. As a beverage-conveying tool made from paper, the paper straw is not just a utensil; it represents a pivotal shift toward sustainability.
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The surge in demand for paper straws is evident, fueled by global governmental restrictions on single-use plastic cutlery in hotels, restaurants, and households. This shift in regulations has sparked heightened awareness and an increased global demand for paper straws. Serving as an ideal substitute for traditional plastic straws, bio-based and paper straws are gaining traction despite their current cost, which is approximately twice as high as their plastic counterparts or straws made from synthetic organic polymers derived from natural gas or oil.
The ongoing development of the paper straw market presents expanding opportunities, especially with the growing consciousness of bio-based products. Notably, the food and beverage industry plays a pivotal role in the market's growth, as packaging companies increasingly embrace biodegradable materials like paper for manufacturing straws for water and juice bottles.
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However, the COVID-19 pandemic has cast a shadow over the industry. The virus, causing a global health crisis, led to lockdowns, impacting major players in the paper straw market. Business operations came to a standstill in countries such as the U.S., China, and Brazil, resulting in a direct hit on sales for paper straw manufacturers. Despite this setback, the introduction of COVID-19 vaccines and the gradual reopening of production facilities are expected to present lucrative opportunities for players in the paper straw industry.
The paper straw market is segmented based on material, product, end user, and region. Materials include virgin paper and recycled paper, while products are categorized as printed and non-printed. End users are divided into food service and household. Region-wise, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Study:
By material, the recycled paper segment led in revenue generation in 2021.
The printed segment dominated in terms of revenue in the product category in 2021.
The food service segment emerged as the top revenue generator among end users in 2021.
Europe is anticipated to dominate the global paper straw market share during the study period.
The major players contributing to the paper straw market's dynamics include Aleco Industrial Co. Ltd., Biopak, Bygreen, Canada Brown Eco Products Ltd, Charta Global, Focus Technology Co., Ltd., Footprint, Fuling Global Inc., Hoffmaster Group, Inc., Huhtamaki Oyj, Lollicup USA, Inc., Ningbo Jiangbei Shenyu Industry and Trade Co., Ltd., Shenzhen Grizzlies Industries Co., LTD, Soton Daily Necessities Co., Ltd., Tipi Straws, Transcend Packaging Ltd., and YuTong Eco-Technology (SuQian) Co., Ltd.
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The report not only provides an extensive analysis of the current and emerging trends but also offers a glimpse into the opportunities that lie ahead in the global paper straw market. The forecast analysis covers the period from 2022 to 2031, capturing the anticipated growth trajectory of this eco-conscious industry.
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