Bizizz Market Research has recently published a research report, “Paper Straw Market By Virgin paper Type (Virgin paper and Recycled paper), Product type (Printed and Non-printed), Straw length (<5.75 inches, 5.75-7.75 inches, 7.75-8.5 inches, 8.5-10.5 inches and >10.5 inches), Straw diameter (<0.15 inches, 0.15 – 0.196 inches, 0.196 – 0.25 inches, 0.25 – 0.4 inches and >0.4 inches), Application (Food service, Institutional and Household) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Paper Straw Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 3 Bn by 2027, witnessing a CAGR of 23.5 % during the forecast period. The rising awareness regarding the eco-friendly offerings coupled with stringent government regulations are substantiating its market demand.
The demand from consumers is increasing for consumables which are degradable after a single-use. The Paper straws are a eco-friendly in nature and are durable along with substitute to the plastic straws. The cost of paper straws is greater in comparison to plastic straws and it is a contributing factor in limiting the growth of the market. The costs of paper straws are because of the use for good quality of additives, paper, and binder for the manufacturing process. Companies are concentrating on ways to decrease the cost of paper straws through advanced technologies.
The Paper Straw market is anticipated to register a CAGR of over 23.5% during the forecast period.
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By Product, Virgin paper segment held a key share in Global Paper Straw Market in 2018.
The virgin paper segment is anticipated to lead the global paper straw market. The virgin paper segment is anticipated to exhibit greater growth in contrast to other material types. The straw made by virgin paper has a different feature including its strength, greater absorbency rate, and others. These features of paper straws are highly embraced for applying in various industries. Such variety of straw had a lesser environmental influence including that boosts the growth of paper straws market worldwide.
Europe Anticipated to Dominate the Global Paper Straw Market during the Forecast Period
European region is anticipated to propel the global paper straw market in the forecast period. These nations including Germany and the United Kingdom are anticipated to exhibit lucrative growth during the forecast period. Exponentially growths of industrial usage in these regions are considerably being the primary factors to drive its market demand. The market of Europe in paper straw market is contributed through various factors including tough regulation imposed by the government are positively influencing the environment. All such elements are together stimulating the market growth of paper straw market in the European region.
Global Paper Straw market was highly/moderately consolidated with key players accounting for significant share in 2018. The competitor organizations are focusing on offering sustainable paper straw products to the end-users.
Prominent players operating in the Global Paper Straw Market are: Huhtamaki Oyj, Transcend Packaging Ltd. , Canada Brown Eco Products Ltd., Footprint, Fuling Global Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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