The global Bamboo Straws market is set to enjoy a valuation of US$ 4.3 Mn in 2022 and reach a valuation of US$ 7.3 Mn by the year 2032. The global sales of bamboo straws are predicted to bolster with the top 5 companies projected to hold approximately 20-25% of the market by the end of 2022. According to historical estimations, the global bamboo straws market revenue totaled a valuation of US$ 4.1 Mn in 2021, and the market forms around 1% of the global bamboo packaging market worth US$ 455.0 Mn in 2021. The global bamboo straws market witnessed a CAGR of 3.1% during the historic period with a market value of US$ 4.1 Mn in 2021 from US$ 3.6 Mn in 2016.
On the basis of sales channels, the e-retail segment is anticipated to create a lucrative growth opportunity for the global bamboo straws market due to increased online shopping by consumers. The e-retail segment is anticipated to grow 1.5x the current market value during the forecast period. With the increasing consumer preference for biodegradable packaging within the food service industries, the global bamboo straw market is expected to showcase opulent growth opportunities. The rise in demand for eco-friendly straws is anticipated to propel the demand for bamboo straws. The bamboo straw market is predicted to expand 1.7 times the current market value during the forecast period.
Traditionally, plastic straws were in high demand due to their cost-effective benefit along with easy availability. The impact of plastic straws on the environment made it difficult for them to survive in the long run. Due to this, increasing consumer awareness of sustainable packaging propelled the demand for plastic-free products such as bamboo straws. Bamboo straws are reusable, biodegradable, recyclable, and disposable straws that address the growing environmental issues. Consumers are rapidly inclining towards eco-friendly convenient, as well as reusable packaging solutions, which is boosting the demand for bamboo straws.
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Key Takeaways
- Plastic straw consumption in the world was surging but due to the saturation of plastic waste and the subsequent harm to the environment, European Union and the Global government banned the utilization of plastic cutlery and other products. These include plastic straws, stirrers, bags, cups, and others. Prominent manufacturers in the North American and European regions are working on replacing plastic straws with sustainable and reusable straws.
- Governments in England made regulations to make sure that no one supplies beverages in single-use plastic straws. Furthermore, in Canada as well, widespread bans were implemented on using plastic straws. Many cities, such as San Francisco, Long Beach, Manhattan, and Oakland, have banned plastic straws in California. Different types of straws are introduced by manufacturers to expand their share in regional drinking straw markets. Attributed to these aforementioned factors, the global bamboo straws market is estimated to augment over the assessment period.
- The surging number of food outlets is anticipated to fuel the growth of the food service industry substantially. Consumers have shifted towards using bamboo straws in the food & beverage industry. The return-on-investment leads to competition across food delivery platforms among food service companies, ensuring lucrative opportunities for food disposable manufacturers.
- Preference for takeaway food is increasing which, in turn, is fueling the food service packaging demand. There are high growth opportunities for bamboo straw manufacturers in the near future, owing to the plastic straw ban in many countries.
Competitive Landscape
The key players in the global bamboo straw market are trying to capture a reasonable market share. Such key players are focusing on catering to the surging demand for eco-friendly packaging through expansion and collaboration with non-profit organizations.
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More Insights into the Bamboo Straws Market
Asia Pacific region is anticipated to create lucrative growth opportunities for the global bamboo straws market as it accounted for more than 30% of the market share and was considered the largest geographical market in 2017. Over the course of the recent prediction, the region is anticipated to maintain its supremacy. Rising product demand from nations like China, India, Japan, South Korea, and Taiwan is responsible for this expansion. These nations are among the biggest bamboo growers in the world.
Bamboo Straws Market by Category
By Straw Length, Bamboo Straws Market is Segmented as:
- <9 cm
- 9 – 15 cm
- 16 – 20 cm
- >20 cm
By Sales Channel, Bamboo Straws Market is Segmented as:
- Manufacturers
- Distributors
- Retailers
- E-retail
By End-user, Bamboo Straws Market is Segmented as:
- Food Service
- Institutional
- Household
By Region, Bamboo Straws Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
3.4.1. Profit Margin Analysis
3.4.2. Raw Straw Length Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
3.4.4. End-user/ Customers
3.5. Regional Parent Market Outlook
3.6. Production and Consumption Statistics
3.7. Global Average Pricing Analysis Benchmark
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