During the projected period, a CAGR of 5.3% is anticipated for the worldwide straw market. In 2023, the market is anticipated to be worth US$19.2 billion. By 2033, it is anticipated that the figure will exceed $32.2 billion.
The number of foodservice restaurants has significantly increased in recent years. This would continue to be one of the key variables influencing the usage of straws on a global scale. The main trend influencing straw sales has been the widespread movement in consumer choice away from plastic towards recyclable and biodegradable material alternatives. Because of these reasons, the Straw Market is anticipated to grow at a robust CAGR of approximately 5.3% from 2023 to 2033.
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Paper has seen a significant increase in demand as a sustainable, eco-friendly substitute for single-use plastic, which suggests that there will be a huge market for paper straws in the near future. Currently, the combined sales of plastic and paper straws make up the majority of the global market.
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
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Market Benefits
- The study provides an in-depth analysis of the global Straw Market market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
Some of the leading companies operating in the market are:
- Stora Enso
- FinalStraw
- Hoffmaster Group Inc.
- Hay Straws
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Straw Market Segmentation
By Product Type:
- 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:
- Food Service
- Institutional
- Households
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