The global straw market is poised for significant growth, with a projected 5.3% CAGR, reaching a value of US$ 19.2 billion in 2023 and an estimated US$ 32.2 billion by 2033. Key drivers include the demand for smart packaging solutions utilizing disposable, non-biodegradable straws, diverse options in shapes and colors, and the food industry’s preference for maintaining hygiene standards. The paper straw segment is expected to thrive due to its durability, absorbency, and waste reduction benefits. However, production costs may hinder the full potential of the paper straw market, despite its anticipated substantial sales growth in the foreseeable future.
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Market Drivers:
- Sustainability Trends: Growing consumer preference for eco-friendly options is driving the straw market, with a demand for sustainable and biodegradable straw alternatives.
- Beverage Industry Boom: The flourishing beverage industry, especially in the quick-service and on-the-go sectors, fuels the demand for straws as an essential accessory.
- Government Regulations: Stringent regulations and bans on single-use plastics in various regions are propelling the adoption of alternative materials, driving innovation in the straw market.
- Hospitality Sector Requirements: Straws remain essential in the hospitality sector, and the demand is propelled by the need for hygienic and convenient drinking solutions.
- Innovations in Material Science: Advances in material technologies, such as edible, reusable, and plant-based straw options, contribute to the market’s growth by providing diverse and sustainable choices for consumers.
The smart packaging solutions market is making use of eco-friendly straws because of their bio-degradable nature. The market of smart packaging solutions is valued at more than US$ 25,000 million and is expected to grow at 6.2%. A massive smart packaging solutions market is expected to surge the sales of straws during the forecast period.
A lot of companies are now making serious efforts to reach their sustainable goals. Owing to this, companies that are into beverages are making use of paper straws as these are bio-degradable. Furthermore, few straws have been manufactured using rice, which means that these can be consumed as well. These factors might surge the demand for straw in the future.
The café market is expected to surge at a CAGR of around 5%. Branded cafes, like Barista, Starbucks, and café coffee day, have been making use of paper straws on an increasing basis as these are hygienic as compared to plastic straws. Moreover, the paper straws are enhanced using additives which make them quite strong. However, the market growth is plagued by rising awareness regarding the side effects of plastic straws. This has led to manufacturers focusing more on the production of other forms of bio-degradable straws. Thus, scaling up alternate straws might take some time, which may also create a demand-supply gap.
From the insights provided by FMI analysts, it can be inferred that surging demand for smart packaging solutions, increased consumption of beverages, and a number of other factors are expected to surge the straw market growth during the forecast period.
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Key Takeaways:
- The market is anticipated to expand at 5.3% in the forecast period.
- In 2023, the market is expected to be valued at US$ 19.2 billion.
- By 2033, the valuation might cross US$ 32.2 billion.
- Based on the regional analysis, Europe is expected to be the dominant market during the forecast period.
- The United States market is expected to register a CAGR of 4%.
- The United Kingdom market is anticipated to surge at 4.7%.
- China market is projected to advance at 5.8%.
- Japan market is expected to grow at 10.7%.
- South Korea market is projected to surge at 6.6%.
- Based on product type, the plastic straw segment is expected to hold the dominant market share, and grow at 1.6%.
- Based on end use, the food service segment is projected to hold the leading market share, and advance at 5.5%.
Paper has been witnessing solid rise in demand as an eco-friendly, sustainable alternative to single use plastic, which indicates a massive opportunity for paper straws in the near future. Currently, plastic straws and paper straws collectively account for the most of global market revenues.
E-catering and Online Foodservice Platforms to Propel Straw Market Growth
Online foodservice platforms are providing convenient delivery at low costs, along with efficient packaging solutions, which is fueling worldwide sales of straws. Changing consumption pattern from offline to online sales channel in the F&B industry is anticipated to drive the straw market growth. Increasing number of fast food outlets and restaurants are also anticipated to create huge demand for straws in coming years.
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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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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.
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