Global Paper Straw Market Size is Projected to Reach $21.3 Billion by 2030 with an Impressive CAGR of 8.7% from 2023 | Strong Growth Prospects, Rapid Expansion, Global Industry Report

Houston, TX, May 16, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Paper Straw Market By Material (Virgin Paper And Recycled Paper), By Product (Printed And Non-Printed), By Application (Foodservice And Household), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Paper Straw Market size & share in terms of revenue was valued at USD 11.4 billion in 2022 and it is expected to surpass around USD 21.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.7% during the forecast period 2023 to 2030.”

What is Paper Straw? How big is the Paper Straw Industry?

Report Overview:

The global paper straw industry size was nearly $11.4 Billion in 2022 and is set to increase to about $21.3 Billion by 2030 along with securing the highest cumulative annual growth rate of 8.7% from 2023 to 2030.

Paper straw is gaining humungous popularity subject to rising consciousness about plastic straws’ sustainability as well as their ability in aligning with the laws enacted by the government. Moreover, many countries are preferring paper straws over plastics owing to their renewable nature and strict government regulations restricting the usage of plastic for preventing greenhouse effects. Reportedly, the product finds high penetration in the food and beverage industry owing to an increase in catering activities along with a surge in the establishment of restaurants, hotels, and food stalls globally.

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• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
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Global Paper Straw Market: Growth Factors

Growing trend of consuming bio-based products is predicted to bolster the demand for paper straws in the ensuing years. With many food processing firms in the packaging, farming, and textile business shifting towards the utilization of bio-based items, the demand for paper straws is likely to increase in the ensuing years. All these aspects will embellish the expansion of the global paper straw market years ahead. In July 2021, the EU banned the usage of single-use plastic plates and food & beverage containers, thereby charting a profitable growth graph for the global market.

Nevertheless, escalating costs of paper straws and easy availability of substitute products at reduced costs can decimate the global paper straw industry surge. However, the plastic ban in the commercial packaging sector has forced firms to look for opting for best substitutes, thereby generating new growth opportunities for the global industry.

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Report Scope

Paper Straw Market: Segmentation Analysis

The global paper straw market is divided into material, product, application, and region.

The material segment of the paper straw market is sub-segmented into virgin paper and recycled paper segments. Furthermore, the virgin paper segment, which accounted for more than half of the global market share in 2022, is set to maintain its segment domination status in the coming years. The segmental surge in the coming decade can be credited to the large number of paper straw manufacturers using virgin paper as a raw component in the production of paper straws. In addition to this, paper straws produced with the help of virgin paper are strong, having high absorbency rates and high quality.

On the basis of product, the paper straw industry across the globe is divided into printed and non-printed segments. The non-printed beds segment, which held a share of approximately two-fifths of the global market in 2022, is set to continue its segmental domination in the ensuing years. The expansion of the segment in the analysis timeframe can be owing to the rising preference for non-printed paper straws by consumers as they are produced from food-grade papers which are bio-based and eco-friendly.

In terms of end-use, the paper straw market across the globe is segmented into food service and household segments. The foodservice segment, which contributed for about more than one-third of the global market revenue in 2022, is set to establish a leading position in the global market in the upcoming years. The segmental expansion in the ensuing years can be a result of the acceptance of paper straws in foodservice activities as apt eco-friendly substitutes for single-use plastics.

The global Paper Straw market is segmented as follows:

By Material

• Virgin Paper
• Recycled Paper

By Product

• Printed
• Non-Printed

By Application

• Foodservice
• Household

Browse the full “Paper Straw Market By Material (Virgin Paper and Recycled Paper), By Product (Printed and Non-Printed), By Application (Foodservice and Household), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”-Report at https://www.zionmarketresearch.com/report/paper-straw-market

Competitive Landscape

Some of the main competitors dominating the global Paper Straw market include - 

• Footprint
• Lollicup USA Inc.
• Hoffmaster Group Inc.
• Shenzhen Grizzlies Industries Co. LTD
• Soton Daily Necessities Co. Ltd.
• Aleco Industrial Co. Ltd.
• Transcend Packaging Ltd.
• Biopak
• Bygreen
• Canada Brown Eco Products Ltd.
• Focus Technology Co. Ltd.
• Fuling Global Inc.
• Tipi Straws
• Huhtamaki Oyj
• Charta Global
• Ningbo Jiangbei Shenyu Industry and Trade Co. Ltd.
• YuTong Eco-Technology (SuQian) Co. Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Paper Straw market is likely to expand at a CAGR of around 8.7% during the forecast period (2023-2030).                                            
• In terms of revenue, the Paper Straw market size was valued at around US$ 11.4 billion in 2022 and is projected to reach US$ 21.3 billion by 2030.
• Based on material, the virgin paper segment is predicted to contribute majorly towards the global market share over the forecast timeline.
• In terms of product, the non-printed segment is projected to account for a major share of the global market in 2023-2030.
• On the basis of application, the foodservice segment is set to register the fastest CAGR over the period from 2023 to 2030.
• Region-wise, the European paper straw market is projected to register the fastest CAGR during the assessment period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Paper Straw industry?
• What are the main driving factors propelling the Paper Straw Market forward?
• What are the leading companies in the Paper Straw Industry?
• What segments does the Paper Straw Market cover?
• How can I receive a free copy of the Paper Straw Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Material, By Product, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Europe, which contributed more than three-fifths of the overall share of the paper straw market revenue in 2022, is set to dominate the regional market expansion in the forecasting years. The regional market expansion in the coming years can be due to the growing penetration of paper straws in Germany, France, Italy, the UK, Holland, Spain, and Finland. In addition to this, the EU has mandated its member countries to ban the use of single-use plastics for minimizing environmental pollution and save Earth from catastrophes such as global warming and climatic changes.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In the second half of 2022, SIG India, a division of a Swiss-based firm providing aseptic carton packaging services to its customers, introduced an assortment of renewable paper straws with different shapes and dimensions. Reportedly, the paper straw is predicted to offer the best bio-based non-plastic options to customers.
• In the first half of 2021, Nestle S.A., launched renewable paper straws for Milo, the chocolate drink. With this initiative, Nestle eliminated nearly 30 million plastic straws. Moreover, the firm declared that it will make use of paper straws in the packaging of its Nescafe cold coffee products in the near future. This is a major shift of any reputed food & beverage firm towards the use of eco-friendly products and is likely to contribute substantially towards the growth of the paper straw business in India as well as add to the profits & business growth of the manufacturers based across the country.

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FREQUENTLY ASKED QUESTIONS

• What is Paper Straw?
• Which key factors will influence global paper straw market growth over 2023-2030?
• What will be the value of the global paper straw market during 2023-2030?
• What will be the CAGR value of the global paper straw market during 2023-2030?
• Which region will record the highest growth in the paper straw industry globally?
• Which are the major players leveraging the global paper straw market growth?

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