According to projections, the global straw market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. In 2023, the market is estimated to be valued at US$19.2 billion, and it is anticipated to surpass US$32.2 billion by 2033.
The increase in the number of foodservice restaurants has been a significant factor driving the usage of straws on a global scale. This trend is expected to continue and contribute to the growth of the straw market. A key driver influencing straw sales is the shift in consumer preference away from plastic towards recyclable and biodegradable alternatives. This movement towards sustainable options has become a major trend in the straw market, leading to the strong growth projections with a CAGR of approximately 5.3% from 2023 to 2033.
The demand for paper straws, in particular, has witnessed a significant increase as a sustainable and eco-friendly substitute for single-use plastic. This suggests a substantial market potential for paper straws in the near future. Currently, the combined sales of plastic and paper straws dominate the global market.
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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
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.
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Some of the leading companies operating in the market are:
- Stora Enso
- FinalStraw
- Hoffmaster Group Inc.
- Hay Straws
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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