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Global Straw Market it is anticipated to reach at market value of US$ 11 Bn by 2027

Bizizz Market Research has recently published a research report, “Straw Market By Product Type (Plastic, Bamboo, Metal, Paper, Glass, Silicone and Others), straw Length (<9 cm, 9-15 cm, 16-20 cm and >20 cm), Sales channel (Manufacturers, Distributors, Retailers and E-retail), End Users (Foodservice, Institutional and Households) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.

As per the report, Global Straw Market was valued at US$ 11 Bn in 2018 and it is anticipated to reach at market value of US$ 11 Bn by 2027, witnessing a CAGR of 8.0 % during the forecast period. Key drivers of the market are increase in the consumption of packaged beverages coupled with expansion of food and beverages outlets are propelling its market demand.

The straw is high in its growth rate by an increase in the demand for the packaged beverage products that are propelling its market growth. The customers shift in the lifestyle has increased the packaged beverages consumption rate that had substantiated the market demand for straw in the global market. Moreover, the demand for the sustainable straw products is increasing by the imposed government regulations to curb the pollution causing agents. Thus the market growth for the straw is high during the forecast period.

The Straw market is anticipated to register a CAGR of over 8.0% during the forecast period.

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By End-user, Food service segment held a key share in Global Straw Market in 2018.

The demand for straw in led by the food service industry in catering various beverages to the customers. Moreover, the food service industry is plunging in its market because of the shift in the lifestyle of the customers that had propelled the growth of packaged or freshly prepared beverages by the customers. This had contributed significantly to the increase in the market growth of straw products to reach the customers’ expectations. Among all Café is accounted for the highest demand for straw in the global market.

Asia Pacific region is anticipated to dominate the Global Straw Market during the Forecast Period

The demand of the straw market is led by the Asia pacific region that is especially because of the growing population in this region having high consumption rate of beverages in the market. Thus the need for the straws is increasing significantly by the food and beverage industry to cater the market demand by the food and beverages manufacturing industry. However, this region is witnessing high growth rate of food and beverages because of which there is good demand for the straw products in this region.

Global Straw market was moderately consolidated with key players accounting for significant share in 2018. The companies are offering sustainable straw products to the end users to comply with the government regulation and has substantially being contributing to the market for increasing their competitiveness.

Prominent players operating in the Global Straw Market are: Absolute Custom Extrusions, ., Huhtamäki Oyj., Pactiv LLC, Tetra Pak International S.A., Huhtamäki Oyj., Biopac Ltd., Gumi Bamboo, Hoffmaster Group 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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