Eco-Friendly Straws Market Set to Exceed US$ 22.07 Billion by 2033 in North America and Europe, Research By FMI

With a projected compound annual growth rate (CAGR) of 7.5%, the eco-friendly straws market is set to expand its horizons steadily throughout the forecast period. By 2023, the market is expected to reach a significant value of US$ 10.71 billion, and it is anticipated to surpass US$ 22.07 billion by the year 2033.

In the United States, the Eco-Friendly Straws market is flourishing, demonstrating a robust average Compound Annual Growth Rate (CAGR) of 6.9% from 2023 to 2033. The market is poised to achieve a significant sales volume of 55 in 2023. Meanwhile, the North American market has already carved a notable niche, boasting a market share of US$ 2.5 million in 2023, with a further expected CAGR of 7.1% from 2023 to 2033. This growth can be attributed to the surging consumer awareness in the United States regarding eco-friendly products, driven by government mandates to reduce plastic usage.

Furthermore, sustainability initiatives from both government and non-government sectors are set to favor the sales of eco-friendly reusable and green straws in the region.

Across the Atlantic, the United Kingdom’s Eco-Friendly Straws market is also thriving with a CAGR of 5.9% anticipated between 2023 and 2033, holding a sales volume of 8. The European demand for eco-friendly straws is expected to have a global impact, with Europe’s market currently commanding a dominant share of 29.3%. As initiatives raise awareness about eco-friendly products, the consumption of eco-friendly straws is expected to surge, aligning with the broader global focus on sustainability.

Request Free Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12573

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.

• Huhtamaki Oyj.
• Biopac (UK) Ltd.
• Sulapac Oy
• The Paper Straw Co.
• Vegware Ltd.
• Hello Straw
• The Blue Straw
• JOVAMA
• Wilbistraw

Factors are Estimated to Positively Influence Demand for Earth-friendly Straws-

1. Environmental Concerns: Growing awareness of the environmental impact of plastic straws, including ocean pollution and harm to marine life, has motivated consumers to shift towards more sustainable options.
2. Government Regulations: Stringent regulations and bans on single-use plastic straws in many regions are driving the demand for earth-friendly alternatives to comply with legal requirements.
3. Consumer Preferences: Changing consumer preferences, with a focus on eco-friendly products, have encouraged the adoption of earth-friendly straws as a responsible choice.
4. Corporate Sustainability Initiatives: Many businesses are incorporating sustainability into their corporate social responsibility efforts, including using earth-friendly straws as part of their sustainable practices.
5. Biodegradability and Recyclability: Earth-friendly straws made from biodegradable or recyclable materials align with the desire to reduce waste and environmental harm.
6. Innovations in Material Science: Advancements in material science have led to the development of earth-friendly straw options that are both practical and eco-conscious.

Restrains the Sales of Paper Eco-Friendly Straws to Some Extent

The sales of paper eco-friendly straws, while on the rise, face certain restraints that can limit their market growth to some extent. These restraining factors include:

1. Durability and Performance: Paper straws may not be as durable as their plastic counterparts, especially when used with certain beverages. Some consumers find that they break down or become soggy relatively quickly, impacting the overall user experience.
2. Cost: Eco-friendly paper straws can be more expensive to produce than traditional plastic straws. This cost difference can affect their adoption, especially for price-sensitive consumers and businesses.
3. Limited Use with Certain Beverages: Paper straws are not suitable for all types of beverages, particularly those with long or extended consumption times. Hot beverages and thick milkshakes, for instance, may pose challenges for paper straws.
4. Availability and Accessibility: In some regions, it may be challenging to find a consistent supply of paper eco-friendly straws, limiting their accessibility to consumers and businesses.
5. Consumer Resistance: Some consumers are resistant to change and may prefer the familiarity of plastic straws. Convincing them to switch to paper straws may require education and awareness efforts.
6. Manufacturing Challenges: Producing paper straws at scale with the necessary quality and consistency can be a challenge for manufacturers, leading to potential supply constraints.
7. Lack of Standardization: The lack of industry-wide standards for eco-friendly straws can lead to variations in quality and performance, which can deter some consumers.
8. Environmental Trade-offs: While paper straws are more environmentally friendly than plastic, they still require resources for production and transportation. Some argue that the environmental impact of paper straws is not entirely negligible.

Market Developments:

• In February 2022, EQUO, a company focused on eliminating the use of single-use plastic products, started its international expansion with the launch of its products in Singapore. This eco-straw brand based in Vietnam provides coconut straws, grass straws, rice straws, and other types of eco straws.
• Huhtamaki Oyj has introduced its paper straw that is made with sustainably sourced paper with 100% PEFC-certified paper.

Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-12573

Key Segmentations-

Market By Straw Width / Diameter:

• < 7 mm
• 7-10 mm
• 10-15 mm
• > 15 mm

Market By Product Type:

• Straight Eco-friendly Straws
  • Printed
  • Non-printed
• Flexible Eco-friendly Straws
  • Printed
  • Non-printed

Market By Distribution Channel:

• Manufacturers (Direct Sales)
• Distributors
• Retailers
• Sold in Hypermarkets
• Supermarkets
• Convenience Stores
• Specialty Stores
• Discount Stores & Warehouse/Wholesale Clubs
• Sold through e-Retail

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

Market By End Use:

• Food Service
• Hotels & Logistics
• Bars & Lounges
• Cafes & Fast Food Outlets
• Cinemas
• Airline & Railway Catering
• Institutional Use
• Educational Use
• Healthcare Use
• Corporate Use
• Household Use

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube