Paper Straws Market: Printed Paper Straws with Appealing Designs to Seize Consumer Attention and Gain Significant Traction
According to Transparency Market Research’s latest market report titled “Paper Straws Market: Global Industry Analysis, Size, Share, Growth, Trends, Historical Analysis 2013-2018 and Forecast 2019-2027,” the growing demand for paper straws in the food service end-use industry to bolster the growth of the global paper straws market during the forecast period. Globally, the revenue generated by the paper straws market has been estimated to be over US$ 1.6 Bn in 2019 and is expected to increase at a CAGR of 13.8% in terms of value throughout the forecast period.
Paper Straws – Market Dynamics
Plastic straw consumption in the world was increasing by leaps and bounds before the last 2-3 years. However, rising intolerance towards plastic straws, growing consumer demand for eco-friendly straws, and globally increasing government reforms and campaigns to ban plastic straws are likely to offer a positive outlook for the paper straws market. On-the-go consumers demand more than convenience from their products. They are increasingly aware of their choices and are picking more sustainable options.
The latest trend is to move towards non-plastic straws. Paper straws are hygienic, single-use products found in restaurants, bars & lounges, soda shops, and other places. Straws built of paper hold up during the course of a meal, and once discarded, they degrade way faster than those made with plastic, thus, leaving a smaller impact on the environment. The improvised characteristics of paper straws and their sustainable nature are likely to drive the growth of the global paper straw market during the forecast period.
The food service industry is a significant consumer of paper straws, and the increasing number of food outlets is boosting the demand for paper straws substantially. There has been a dynamic shift in the consumer consumption pattern in the food and beverages sector. On an average, online food delivery platforms in emerging countries such as India, offer over 40% return on investment. This is leading to intense competition across food delivery platforms among food service companies, which provides lucrative opportunities to food disposable products such as paper straws. Preference for takeaway food or ready-to-eat food is increasing which, in turn, is fuelling the food service packaging demand. Hence, there are high growth opportunities for paper straws in the near future, owing to the plastic straw ban in many countries and the rising demand for eco-friendly products. Such factors together are foreseen to propel the growth of the global paper straws market during the forecast period.
One of the important factors that drive the growth of the paper straws market is the consumer inclination towards eco-friendly, as well as convenient products. Consumables which are appealing, as well as disposable after one use, always get the attention of the consumer. Thus, manufacturers of paper straws are providing printed paper straws with appealing designs to grab consumer attention in the marketplace. Paper straws made with 3-4 layers of paper around a mold and a number of additives, are comparatively more durable than conventional paper straws. Paper straws answer to the market need of durable and sustainable alternative to plastic straws and are likely to gain significant traction during the forecast period.
The Volume of the Global Paper Straws Market Is Expected to Expand 2.6X over the Forecast Period
Irrespective of the optimistic viewpoint, the high cost of paper straws as compared to plastic straws might hinder the growth of the paper straws market up to some extent during the forecast period. Paper straws cost ten times higher than plastic-based straws, which may affect the paper straws market negatively. The high cost of paper straws is attributed to high-quality paper, binder, and additives used during the manufacturing process. However, the manufacturers of paper straws are channelizing their efforts on improving production efficiency, use of recycled raw materials for lowering costs and increase overall profitability margin.
The Value of the Global Paper Straws Market Is Expected to Expand 2.8X over the Forecast Period
Paper Straws Market – Competition Dashboard
Detailed profiles of manufacturers of paper straws are also included in the report to evaluate their key product offerings, financials, recent developments, and strategies. Key players operating in the global paper straws market include Huhtamäki Oyj., Hoffmaster Group Inc. (Aardvark), Biopac UK Ltd., Vegware Ltd., U.S. Paper Straw, The Paper Straw Co., Austraw Pty Ltd T/as Bygreen, Footprint LLC, Okstraw, Transcend Packaging Ltd., PT. Strawland, TIPI Straws, MPM Marketing Services Pty Ltd., Canada Brown Eco Products Ltd., Aleco Straws Co. Ltd., Zhengzhou Gstar Plastics Co., Ltd., YIWU JinDong Paper Co., Ltd., Sharp Serviettes, GP Paper Straw Sdn Bhd, and The Blue Straw.
Paper Straws Market – Key Developments
Few of the key developments observed among the manufacturers of paper straws are:
- Huhtamäki Oyj and Hoffmaster Group Inc. are actively engaged in acquisitions and mergers for the expansion of its business segments and to explore different markets.
- In 2018, Hoffmaster Group Inc. acquired Aardvark Straws, a leading paper straw manufacturer in the United States.
- In 2018, Huhtamäki Oyj acquired a majority stake in Cup Print Company, which is an Ireland-based manufacturer of cups.
In the global paper straws market report, we have discussed individual strategies, followed by company profiles of the manufacturers of paper straws. The ‘Competitive Landscape’ section is included in the paper straws market report to provide report audiences with a dashboard view and a company market share analysis of top manufacturers operating in the global paper straws market.
In this report, Transparency Market Research (TMR) offers historical 2013-2018 and forecast 2019-2027 data of the global paper straws market. The study reveals the dynamics of the paper straws market in five geographic segments, along with a market analysis for the current market environment and future scenario over the forecast period.
Paper Straws Market - Report Description
This Transparency Market Research report studies the global paper straws market for the period 2019–2027. The prime objective of this report is to offer insights and key market trends pertaining to the paper straws market that are gradually helping transform global businesses.
The global paper straws market report begins with an executive summary for various categories and their share in the paper straws market. It is followed by the market introduction, market dynamics, and an overview of the global paper straws market, which includes TMR analysis of the market drivers, restraints, and trends that are affecting the growth of the paper straws market. Furthermore, to understand the Y-o-Y trends of the paper straws market, a Y-o-Y analysis with elaborated insights on the same is provided.
The global market for paper straws is further segmented as per material type, product type, straw length, sales channel, and end use.
- On the basis of material type, the global market for paper straws is segmented into virgin kraft paper and recycled paper.
- On the basis of product type, the global market for paper straws is segmented into printed paper straws and non-printed paper straws.
- On the basis of straw length, the global market for paper straws is segmented into <7 cm, 7 – 10 cm, 10-15 cm, and >15 cm.
- On the basis of sales channel, the global market for paper straws is segmented into manufacturers, distributors, retailers, and E-retail.
- On the basis of end use, the global market for paper straws is segmented into food service, institutional, and household.
The next section of the report highlights the USPs which include, a value chain describing the raw material suppliers, paper straw manufacturers, and distributors in the market. Each section in the value chain consists of some listed examples for better understanding of the whole supply chain, added to it is the profitability margin validated by primary interviews. Another USP includes data about essential industry perspective which contains the views of the industry leaders about the paper straws market. Porter’s Analysis is another added point in the report which explains how the number of manufacturers affects the whole market scenario. PESTLE Analysis includes a political, economic, social, technological, legal, and environmental analysis of all the regions. This analysis explains the effect of all these factors on the paper straws market. Pricing analysis is provided in the report, which is examined in accordance with different regions and product type segments. The values for all product type segments in all the regions including North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA) are provided.
The next section of the report highlights the paper straws market by region and provides the market outlook for 2019–2027. The study analyses the drivers that influence the regional paper straws market. The main regions assessed in this report include North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The report evaluates the present scenario and growth prospects of the regional paper straws market for 2019–2027.
To ascertain the size of the paper straws market in terms of value and volume, revenue generated by the key paper straws manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the paper straws market. In order to provide an accurate forecast, we initiated by sizing up the current paper straws market with the help of the parent market. We gathered data from secondary research and validated it through primary research. Also, we form the basis of how the paper straws market is expected to develop in the future by taking into account the opinions of industry experts.
Given the characteristics of the paper straws market, we triangulated the outcome on the basis of three different types of analysis- based on the supply side, downstream industry demand, and economic envelope. In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the market based on key parameters to understand the predictability of the paper straws market and identify the right opportunities across the market.
The segments for the global paper straws market have been analysed in terms of their market share to understand the individual segment’s relative contribution to market growth. This detailed level of information is important for identifying the key trends in the paper straws market.
Paper Straws Market – Competition Landscape
In the final section of the report on paper straws, a 'dashboard view' of the companies is provided to compare the current industrial scenario and their contribution to the total paper straws market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to paper straws market segments. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the paper straws marketplace.
Paper Straws Market – Company Profiles
Detailed profiles of companies are also included in the global paper straws market report to evaluate their strategies, key product offerings, and recent developments. Key players operating in the global paper straws market include Huhtamäki Oyj., Hoffmaster Group Inc. (Aardvark), Biopac UK Ltd., Vegware Ltd., U.S. Paper Straw, The Paper Straw Co, Austraw Pty Ltd T/as Bygreen, Footprint LLC, Okstraw, Transcend Packaging Ltd., PT. Strawland, TIPI Straws, MPM Marketing Services Pty Ltd, Canada Brown Eco Products Ltd., Aleco Straws Co. Ltd., Zhengzhou Gstar Plastics Co., Ltd., YIWU JinDong Paper Co., Ltd., Sharp Serviettes, GP Paper Straw Sdn Bhd, and The Blue Straw among others.
Geographical Segmentation of the Paper Straws Market