Allied Market Research published a new report, titled, “Eco-Friendly Straw Market 2021-2030” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The major manufacturers of eco-friendly straws contribute to one-fifth of the total production of straws. The company procures the straws directly from the manufacturing company. The direct procurement of straws is a familiar way to do business in the eco-friendly straw market. Manufacturing companies offer heavy discounts on sales of straws, making it a profit-making deal for the buyers. Due to the ongoing pandemic, the business had partially shifted from traditional to online. Currently, the manufacturing companies are creating their website for sales or coming into partnership with e-commerce giants to sell their products.
The foodservice industry is the primary customer of eco-friendly straws. The rise in demand for food services all over the world is creating an equal want for eco-friendly straws. All catering and hospitality industries are environmentally aware and encourage environment-friendly dishes, cutlery and straws. Straws made of glass are gaining popularity in customers, as it gives an aesthetic look to the straw
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Countries around the globe are banning the use of plastic straw as it is an environmental hazard. The decreasing use of plastic straws is leading to the growth of the eco-friendly straw market. The new organizations are joining the initiative to eradicate the usage of plastic straws.
Consumer awareness regarding environmental health is encouraging them to adopt the use of eco-friendly straws. The usage of eco-friendly straws is trending in the market as people are fascinated with the design and feel they experience using eco-friendly straws. Manufacturing companies are introducing their newest innovations to capture the interest of new consumers and influence them to opt for biodegradable straws.
The key market players profiled in the report include Huhtamäki Oyj., Biopac (UK) Ltd, Sulapac Oy, The Paper Straw Co, Vegware Ltd., Guanlin Paper Products Co., Ltd., Merrypak, Co., Stroodles. Co., Papearth. Hu., and Pactiv LLC.
COVID-19 Impact Analysis:
○ Consumers have shifted their interest to essential products to help them over the lockdown period. Consumers had no use of eco-friendly straws as there are alternate ways for them to drink beverages without a straw. For the individual, demand for eco-friendly straws substituted by groceries and pharmaceuticals products.
○ There was a negative effect on the eco-friendly straw market due to the COVID-19 pandemic. The demand for eco-friendly straws decreased during these times due to the lack of stocks and disrupted distribution channels.
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Key Benefits of the Report:
○ This study presents the analytical depiction of the eco-friendly straw industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the eco-friendly straw market share.
○ The current market is quantitatively analyzed from 2020 to 2028 to highlight the eco-friendly straw market growth scenario.
○ Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
○ The report provides a detailed eco-friendly straw market analysis on the basis of competitive intensity and how the competition will take shape in coming years.
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