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Paper Straw Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A07893
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Dec 2020 | 35 Views
 
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Paper Straw Market Outlook - 2027

Paper straws are straws used to suck and drink liquid foods made out of paper. The two types of paper used for manufacturing paper straws are virgin paper and recycled paper. Virgin paper is the paper that does not contain any recycled material and is extracted directly from the pulp of the trees. Whereas, recycled paper is the paper that is prepared from used paper. Paper straws can be manufactured as straight or angled tubes for different applications. Paper straws are made from paper hence, they are eco-friendly. Paper straws are recyclable and biodegradable unlike plastic straws. Paper straws usually take about 2-6 weeks to decompose. 

Market scope and structure analysis:

                     Report Metric

                                      Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($USD Million)

  Segments covered

  Material type, product type, straw length, application ,and region

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

 

Major players analyzed include Aleco Industrial Co. Ltd., Canada Brown Eco Products Ltd., Tetra Pak International S.A., Transcend Packaging Ltd., Footprint, Fuling Global Inc., Royal Paper Industries, Soton Daily Necessities Co. Ltd. Y.W., Hoffmaster Group Inc., and Huhtamaki OYJ.
 
 

 

COVID-19 Scenario analysis:

  • COVID-19 crisis is likely to affect the paper straw industry negatively, as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
  • COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
  • The requirement of e-commerce specific packaging is likely to remain strong, although the ecommerce companies would have to focus on protection of goods and sanitization of packages. 
  • In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites. 
  • Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020. 
  • Owing to the lowered disposable income of maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs. 
  • Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the packaging industry growth in the future after the COVID-19 crisis. 

Drivers, restraints, and opportunities

A growing number of cafes and restaurants worldwide is a major driving factor for the paper straw market. Besides, rapid growth in the food and beverage sector and increase in consumer preference toward on-the-go food and beverages are the factors expected to drive the paper straw market. Furthermore, the growing demand for organic, natural, and eco-friendly straws are expected to propel the growth of the paper straw market in the upcoming years. However, higher availability and usage of alternative products like plastic straws can be restraining factors for the paper straw market. On the contrary, growing environmental concerns have led to stringent environmental safety standards in many countries, which are likely to provide huge growth opportunities for the paper straw market. 

Trends in the paper straw market

New business strategies to positively affect the market

Collaborations and negotiations among market competitors lead to new strategic business outputs. The paper straw market has witnessed few mergers and acquisitions over the past few years for the collective growth of the involved companies. For instance, in May, 2019, The Paper Straw Co., a UK-based paper straw manufacturer was acquired by Hoffmaster Group Inc., a US-based manufacturing company. As a result of the acquisition, the company has expanded its operations in the European market and improved its product portfolio. Such new business strategies by market leaders are expected to support the growth of the paper straw market in the future. 

Growing preference for eco-friendly products

Recently, many companies have switched to paper straws as a replacement from plastic straws due to the increasing preference of the consumers for eco-friendly products. For instance, Starbucks, a U.S.-based company pledged to end the use of plastic drinking straws from all its units by the year 2020. As an alternative for plastic straws, paper straws, bamboo straws, glass straws, and others are being adopted. Such new initiatives are expected to emphasize more on the use of eco-friendly products, which can eventually increase the demand for paper straws in the market.

Key segments covered:

                         Segments

                       Sub-segments

  Material type

  1. Virgin paper
  2. Recycled paper

  Product type

  1. Printed
  2. Non-printed

  Straw length

  1. Less than 5.75 inches
  2. 5.75-10.5 inches
  3. Greater than 10.5 inches

  Application

  1. Household
  2. Foodservice
  3. Others

 

Key benefits of the report:

  • This study represents the analytical representation of the global paper straw market combined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughly analyzed from 2019 to 2027 to enlighten the paper straw market growth.
  • The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global paper straw market.
  • Segmentation details of the global paper straw market.
  • The report gives a comprehensive global paper straw market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 
 
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