Paper Straw Market Expected to Reach $3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Paper Straw Market," The 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.

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.

The paper straw market is segmented on the basis of material, product, end user, and region. By material, the market is fragmented into virgin paper and recycled paper. By product, the global market is categorized into printed and non-printed. By end user, the market is divided into food service and household. By region, the market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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.

 KEY FINDINGS OF THE STUDY

•        The report provides an extensive analysis of the current and emerging global paper straw market trends and dynamics. 

•        By material, the recycled paper segment was the largest revenue generator in 2021.

•        By product, the printed segment generated the highest revenue in 2021.

•        By end user, the foodservice segment generated the highest revenue in 2021.

•        Region-wise, Europe is anticipated to dominate the global paper straw market share during the study period.

•        The report provides an extensive analysis of the global paper straw market opportunities. 

•        The global paper straw market forecast analysis from 2022 to 2031 is included in the report.