The Global Paper Straw Market size was valued at $865.30 million in 2021, and is estimated to reach $3 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031. A paper straw is a utensil made of paper that is intended to carry the contents of a beverage to one’s mouth.
Top Companies
The major players profiled in the paper straw market analysis include Aleco Industrial Co. Ltd., Biopak , Bygreen, Canada Brown Eco Products Ltd , Charta Global , Focus Technology Co., Ltd. , Footprint , Fuling Global Inc. , Hoffmaster Group, Inc. , Huhtamaki Oyj , Lollicup USA, Inc., Ningbo Jiangbei Shenyu Industry and Trade Co., Ltd. , Shenzhen Grizzlies Industries Co., LTD, Soton Daily Necessities Co., Ltd. , Tipi Straws, Transcend Packaging Ltd., and YuTong Eco-Technology (SuQian) Co., Ltd.
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The report provides a detailed analysis of these key players of the global paper straw market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Bio-based and paper straws are a perfect substitute to conventional straws made of plastic. Currently the cost of paper straws is about 2 times high as compared to plastic straw or straw made from artificial organic polymers, obtained from natural gas or oil (petroleum based plastics). The paper straw market is still developing; and growth opportunities are widening with growing awareness for bio-based products. In addition, the food & beverage industry holds major share in global paper straw market growth. Packaging companies are increasingly using biodegradable products, such as paper to manufacture a large number of straws for water & juice bottles.
However, COVID-19 is a disease caused by a newly discovered virus named Coronavirus. Many people are suffering from coronavirus disease globally. During lockdown, due to the COVID-19 pandemic, various major players in the global paper straw market had to stop their business production due to lockdown implemented in countries, such as the U.S., China, Brazil, and others. This stop in business activities has directly impacted the sales of the paper straw industry manufacturers. For instance, Alstom SA registered a decline of 17.7% in revenue in September 2020. On the contrary, introduction of vaccines for coronavirus disease and the re-initiation of production facilities are anticipated to provide lucrative opportunities for the paper straws players.
Based on application, the Foodservice segment accounted for the largest share in 2021, contributing to 90.9% of the global paper straw market, and is projected to maintain its lead position during the forecast period. This is owing to the rise in demand for eco-friendly products that can replace plastic products. However, the household segment is expected to portray the largest CAGR of 16.5% from 2022 to 2031, owing to the increase in restrictions on the use of plastic products for personal uses.
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