According to a new report, published by KBV research, The Global Paper Straw Market size is expected to reach $16.1 billion by 2030, rising at a market growth of 18.2% CAGR during the forecast period.
The Flexible segment would exhibit a CAGR of 19.1% during (2023 - 2030). This is as a result of its many benefits and rising desire for environmentally friendly alternatives. This rise is mostly attributed to the use of U-shaped (flexible and bending) straws in tetra packs. Consumers may enjoy their drinks easily with these cutting-edge straws without sacrificing sustainability. Tetra packs' U-shaped design guarantees that the straw reaches the bottom, making it possible to consume packaged liquids like juices and dairy products effectively.
The Foodservice segment acquired maximum revenue share in the Global Paper Straw Market by End-use in 2022; thereby, achieving a market value of $8.2 billion by 2030. This development may be credited with the emergence of more environmentally friendly substitutes for single-use throwaway products. Plastic straws and other single-use plastic goods are increasingly being avoided or outlawed as awareness of sustainability grows. As a result, a significant increase in demand for paper straws is anticipated soon.
The Recycled Paper segment is showcasing a CAGR of 20% during (2023 - 2030). Paper straws created from recycled paper have advantages over traditional paper straws. Manufacturing straws from recycled paper lessen the quantity of garbage disposed of in landfills or burned. Giving recycled materials new life lowers the need for virgin paper manufacture, preserving natural resources and lowering the environmental effect of paper production.
The Non-printed segment is leading the Global Paper Straw Market by Product Type in 2022; thereby, achieving a market value of $9.2 billion by 2030. The distinctive qualities of plain paper straws and the rising demand brought on by shifting consumer tastes are only two reasons for this increase. Customers have a safer and greener alternative with non-printed paper straws since they are made particularly to avoid ingesting inks or colors. The fact that these straws are often made from food- or sustainably-sourced paper materials increases their appeal to those who care about the environment.
The <5.75 inches segment would witness a CAGR of 19.4% during (2023 - 2030). Shorter Paper straws are more practical for eating when traveling. They are perfect for kids' drinks or single-serving beverages since they can be used in smaller beverage containers like juice boxes, cans, or tiny cups. Additionally, shorter paper straws save waste since they are made for lower drink volumes. One is to prevent surplus straw material from going to waste by utilizing a paper straw that is the proper length.
The Asia Pacific region dominated the Global Paper Straw Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.0 billion by 2030. The Europe region is poised to grow at a CAGR of 17.4% during (2023 - 2030). Additionally, The North America region would experience a CAGR of 17.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/paper-straw-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hoffmaster Group, Inc., Transcend Packaging Ltd., Huhtamaki Oyj, Footprint, Fuling Technology Co., Ltd., Bygreen, Biopak (Duni AB), Canada Brown Eco Products Ltd., ALECOSTRAWS.
By Type
By End Use
By Material Type
By Product Type
By Length
By Geography
Companies Profiled
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