The global straw market stands at a net worth of US$ 18.1 Billion in 2022 and is predicted to rise at a CAGR of 5.9% over the forecast period to attain a valuation of US$ 28 Billion by 2029. This growth can be attributed to the following factors:
- Smart packaging solutions that use disposable straws for their non-biodegradable nature
- Available in various shapes, sizes, and colors
- Highly preferred by the food industry to maintain the hygiene levels of their service.
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Paper has been witnessing solid rise in demand as an eco-friendly, sustainable alternative to single use plastic, which indicates a massive opportunity for paper straws in the near future. Currently, plastic straws and paper straws collectively account for the most of global market revenues.
Key Takeaways – Straw Market Study
- Plastic straws are the most common trash item found in ocean. To overcome this and decrease the consumption of plastic straws, various manufacturers are offering recyclable, reusable, and compostable straws
- Increasing number of bars and lounges, restaurants, and quick service restaurants is intensifying consumption of straws
- Brand owners are investing in marketing and branding of products, which are expected to gain consumers’ attention
- Straw manufacturers are collaborating to produce custom-made straws with logos and taglines for marketing as well as branding
- To eliminate the usage of single-use plastic straws, foodservice companies and brand owners such as McDonald’s and Starbucks are using paper and bio-based straws
Foodservices will raise the bar for the Straw Market
Future Market Insights predicts that this market for materials would be dominated by the food service sector. It is anticipated that it would maintain its dominance during the foreseeable time due to the implementation of ecologically friendly alternatives for single-use disposable items to do away with plastic straws. Due to growing environmental awareness and an increase in the number of single-use plastic product bans in the food service industry, it is projected that the market for paper straws will grow dramatically over the next years.
The shift in consumer preferences from offline to online sales channels within the food service industry is anticipated to promote growth in the straw market.
Competitive Landscape
Manufacturers in the straw market are adopting a collaboration strategy to expand their global reach. Leading players are offering a wide range of options for straw consumers, such as collapsible straws, biodegradable straws, recyclable straws, reusable straws, and straw (hay) straws.
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Collaborations and Joint Ventures
- Stora Enso Oy, a leading player in the packaging industry, and Sulapac Oy, a cosmetic packaging solution provider, formed a collaboration to create a renewable straw – ‘Sulapac Straw’.
Key Companies Profiled
- Hoffmaster Group Inc.
- Tetra Pak International S.A.
- Hay Straws
- Stora Enso Oy
- FinalStraw
- Bio Agave
- Aardvark Straws
- Absolute Custom Extrusions
- Southeastern Liquid Analyzers
- Klean Kanteen
Key Segments of Straw Industry Research
By Product:
- Plastic Straws
- Bamboo Straws
- Metal Straws
- Paper Straws
- Glass Straws
- Silicone Straws
- Others
By Straw Length:
- <9 cm Straws
- 9-15 cm Straws
- 16-20 cm Straws
- >20 cm Straws
By Sales Channel:
- Straw Manufacturers
- Straw Distributors
- Straw Retailers
- E-retail of Straws
By End Use:
- Foodservice
- Institutional
- Households
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation
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