Sales of eco-friendly straws are projected to grow at a steady CAGR of 5.1% (2022-2030), reaching an estimated value of US$ 2.2 Bn by the end of 2030. The market for eco-friendly straws is currently worth US$1.5 billion.
Through 2030, it is projected that demand for bamboo drinking straws, eco-agave straws, reusable straws, phade ocean-friendly straws, and biodegradable straws would rise. Sales of environmentally friendly straws generate 12.6% of the total revenue from the world straw market.
Green straws are witnessing remarkable adoption across a broad spectrum of end-use industries. From food service to home consumption, eco-friendly straws are gaining traction, especially among carbon-conscious consumers. The global eco-friendly straws market is expected to witness a positive growth trend through 2030, mainly owing to growing interest in sustainable manufacturing and consumption. The report found that awareness of growing interest in sustainable living and environmental protection will influence investment in green products and straws as a category will benefit.
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The demand for eco-friendly straws is particularly strong in the food service sector, with a growing proportion of consumers preferring fast food and other ready-to-eat meals.
Growing interest in reducing plastics
In 2018, 250 organizations responsible for one-fifth of the world’s plastic packaging produced worldwide announced their commitment to reducing waste and pollution through the New Plastics Economy Global Commitment.
The initiative brings together various member groups from companies such as H&M, Unilever, PepsiCo, L’Oréal, Nestle and Coca-Cola, as well as several well-known organizations such as WWF, WEF and Consumer Goods Forum.
Main Content Global eco-friendly straw market expected to grow at a CAGR of 4.9% by 2030 Strict legal provisions combined with NGO awareness campaigns to curb plastic waste to drive market growth Virgin Kraft Paper Sees Maximum Adoption in Green Straw Production Due to Enhanced Material Neutrality Exceed $2 billion in revenue from e-commerce channels by 2030 Europe will witness more investment in eco-friendly straws
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competitive landscape
Key players are diversifying their product portfolios to focus on expanding their reach globally. They also conduct awareness campaigns to minimize the use of non-recyclable materials and strategic partnerships with existing players.
Recently, in May 2020, Huhtamaki Oyj announced a global partnership with WasteAid to drive community-level circular economy innovation in key regions. The collaboration aims to provide education and training in waste management and recycling systems and to work with key stakeholders in India, Vietnam and South Africa.
COVID-19 Crisis Analysis
In the first quarter of 2020, the world was faced with adverse pandemic conditions, and this negatively impacted multiple sectors as disruptions to supply chains and manufacturing facilities were observed.
However, shipments of eco-friendly straws saw a rise for household use as the work-from-home trend picked up pace during the pandemic. Online food and beverage deliveries also saw substantial increase in business during the pandemic era which subsequently drove demand and sales of eco-friendly straws.
Eco-friendly paper straws, earth-friendly straws, biodegradable straws, eco-friendly bamboo straws, and other eco straws are anticipated to see steady increase in demand in the post-pandemic era.
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Key Segments Of Eco-Friendly Straws Industry Survey
Eco-Friendly Straws Market By Straw Width / Diameter :
- < 7 mm Eco-friendly Straws
- 7-10 mm Eco-friendly Straws
- 10-15 mm Eco-friendly Straws
- > 15 mm Eco-friendly Straws
Eco-Friendly Straws Market By Product Type :
- Straight Eco-friendly Straws
- Printed
- Non-printed
- Flexible Eco-friendly Straws
- Printed
- Non-printed
Eco-Friendly Straws Market By Distribution Channel :
- Eco-friendly Straw Manufacturers (Direct Sales)
- Eco-friendly Straw Distributors
- Eco-friendly Straw Retailers
- Eco-friendly Straws Sold in Hypermarkets
- Eco-friendly Straws Sold in Supermarkets
- Eco-friendly Straws Sold in Convenience Stores
- Eco-friendly Straws Sold in Specialty Stores
- Eco-friendly Straws Sold in Discount Stores & Warehouse/Wholesale Clubs
- Eco-friendly Straws Sold through e-Retail
Eco-Friendly Straws Market By Material :
- Paper Eco-friendly Straws
- Virgin Craft Paper
- Recycled Paper
- Pasta Eco-friendly Straws
- Glass Eco-friendly Straws
- Bamboo Eco-friendly Straws
- Polylactic Acid (PLA) Eco-friendly Straws
- Metal Eco-friendly Straws
Eco-Friendly Straws Market By End Use :
- Eco-friendly Straws for Food Service
- Eco-friendly Straws for Hotels & Logistics
- Eco-friendly Straws for Bars & Lounges
- Eco-friendly Straws for Cafes & Fast Food Outlets
- Eco-friendly Straws for Cinemas
- Eco-friendly Straws for Airline & Railway Catering
- Eco-friendly Straws for Institutional Use
- Eco-friendly Straws for Educational Use
- Eco-friendly Straws for Healthcare Use
- Eco-friendly Straws for Corporate Use
- Eco-friendly Straws for Household Use
Related Links –
https://issuu.com/nk99/docs/dispersion_coating_market_size
https://www.transferbigfiles.com/ad10cd91-4d4b-4598-9130-afbf14972c44/Z7VzTXgOQSVWguthL6NPUQ2
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