Paper Straw Market Overview, Manufacturing Cost Structure Analysis, Key Players Review, Growth Opportunities and Restraints to 2024

Market Overview

Global Paper Straw Market is expected to exhibit a strong 12.61% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The report presents the growing awareness about the ecological benefits of paper straws as the major driver for the global paper straws market. Growing awareness about the problems of the overuse of plastics has been a key feature in urban landscapes in North America and Europe in the last few years. This has come at the perfect time, with plastic pollution becoming an increasing concern across the world. Plastic pollution doesn’t decompose naturally and also causes toxicity in landfills, which has led to a growing demand for alternatives to plastic that don’t cause pollution in their dumping site. Paper straws are a small step towards that goal, but have proved popular, mainly in urban environments in the developed Western world.

The growing interest among businesses to go green and use that as a USP to attract a chicer crowd has led to a growing interest in green initiatives, such as the replacement of plastic straws with paper straws. Growth of the hotels and hospitality industry has been a key feature of the economy in the Western world in the last decade, leading to such seemingly small initiatives carrying a larger cumulative footprint in the big picture. The growing number of bars, restaurants, and other eateries is likely to lead to a growing demand from the paper straw market. Following Western countries, emerging regions such as Asia Pacific and the Middle East are also witnessing a boom in the hospitality industry, as the overall income levels rise, and new consumer demographics open up for the industry. This has the potential to be a major driver for the global paper straw market, considering the economic growth observed in these regions over the last few years.

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Unfortunately, product awareness remains low in emerging countries, where cheaper and more durable plastic straws are still the most common configuration. This is one of the key restraints against the global paper straw market, as the market is mainly saturated around key Western markets, where awareness remains high and widespread. Inability to move into the lucrative Asia Pacific and Middle East markets in the coming years could prove costly for the global paper straws market.

Competitive Landscape

Leading players in the global Paper Straws Market include Huhtamaki Oyj, Hoffmaster Group Inc., Biopac Ltd., EcoPro2, The Paper Straw Co., Bygreen, Footprint LLC, Okstraw Paper Straws, Transcend Packaging Ltd., PT Strawland, Tipi Straws, Canada Brown Eco Products Ltd., Aleco Industrial Co. Ltd., Tetra Pak International SA, and Sharp Serviettes.

The global paper straws market is highly fragmented, with local players ruling the roost in most regions. Very few companies have managed to carve out a global presence in the paper straws market due to the ubiquity of the product and the ease of manufacturing. Regional players are likely to remain important for the paper straws market over the forecast period, with regional players often being able to offer cheaper prices due to local tax laws and thus appearing to be more lucrative for consumers. Large multinational companies are likely to attempt to buy smaller players in order to eliminate local competition.

Segmentation

The global Paper Straws Market is segmented based on type, end use, and region.

By type, the global paper straws market is segmented into flexible and non-flexible. The flexible segment is likely to dominate the global paper straws market over the forecast period due to the ease of use flexible straws provide while drinking beverages. This is likely to accelerate their demand in the hospitality industry.

By end use, the global paper straws market is dominated by the commercial segment, which comprehensively dominates the household segment due to the larger volume of consumption in the former.

Regional Analysis

North America is likely to dominate the global paper straws market over the forecast period, followed by Europe. This is mainly due to the fact that many countries in the region have banned plastic straws in an effort to increase overall sustainability.

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