Rising Government Initiatives to Ban Plastic Products Is Expected to Boost the Growth of the Global Paper Straw Market During the Forecast Period

Paper Straw Market - Global Industry Analysis and Forecast 2020 to 2027

Global Paper Straw Market: Key Highlights

  • The Global Paper Straw Market is estimated to reach USD 2675.36 Million by 2027 at a CAGR of 23.8% during the review period
  • The global paper straw market is segmented by into material type, product type, straw length, sales channel and end-user.
  • Based on basis of stage, the market is sub segmented into printed and non-printed. The Non-printed paper straws is excepted to largely consumed paper straws. The non-printed paper based straws is being made to avoid digestions of inks or dyes as well as are manufactured with the help of sustainably sourced paper or food-grade paper.
  • On the bases of region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
  • North America accounted for the major market share as the U.S. government’s initiative to ban plastic straws in some states has also increased.
  • Top players that account for the major share include Canada Brown Eco Products Ltd, Footprint, Fuling Global, Inc., Hoffmaster Group, Inc., Huhtamaki Oyj, Royal Paper Industries, Tetra Pak International S.A., Transcend Packaging Ltd, Vegware, and among others.

Paper Straw Market

Global Paper Straw Market: Key Market Dynamics

  • There has been rising government initiatives to ban plastic products is play a significant role for the paper straw market. The sustainability objective to reach environment friendly targets made up by the governments of various countries, is projected to boost the market.
  • The growing usage of paper straws in food & beverage industry is also lead to enhance the paper straw market growth.  
  • Further, growing consumer demand for eco-friendly straws is create a significant growth of the market.
  • However, high cost associated to paper straw as compared to plastic straws are hindering the growth of the market

Request Sample PDF Here: https://www.forencisresearch.com/paper-straw-market-sample-pdf/

Global Paper Straw Market: Regional Overview

  • North America:
    • North America region is further divided in to US, Canada and Mexico. Globally, North America accounted for the major market share
    • The region has various leading shareholder of a paper straw industry. For example, Vancouver has become one of the first major Canadian city to completely ban single-use plastic
    • The rising fast-food chains as well as the high population of fast food consumers in the region are also projected to drive the growth of the paper straws market in the region.
    • For example, the U.S. government has also taken an initiative to ban plastic straws in some states such as in California, DC, etc.
    • On 2020, the New York is projected to be the third state to carry out its ban on plastic bags, which will apply to most single-use plastic bags provided by grocery stores as well as the various other retailers
  • Asia Pacific
    • Asia Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
    • The government initiatives to ban as well as restrictions on the use of plastic by across various countries in the region, is also create a significant opportunity for the market growth
    • The countries such as India is projected to play a major role to other countries in terms of increasing rate due to the rapid expansion of the food & beverage sector
    • According to the World Bank Group, in 2018 China banned imports of plastic recyclables from other countries

Global Paper Straw Market: Key Players

Some of the key players operating in the market include Canada Brown Eco Products Ltd, Footprint, Fuling Global, Inc., Hoffmaster Group, Inc., Huhtamaki Oyj, Royal Paper Industries, Tetra Pak International S.A., Transcend Packaging Ltd, Vegware, and among others.

Global Paper Straw Market: Key Developments

  • On May 2019, Huhtamaki Oyj has set up a paper straw production unit in Northern Ireland. With the aims to grow the company’s paper-based product portfolio, includes paper straws.
  • On October 2019, Transcend Packaging has acquired the assets of BioStraw Ltd. a paper straw manufacturer. Where, the BioStraw (UK) will helps to transfer all its production assets to Transcend Packaging.
  • On May 2019, the Hoffmaster Group, Inc. has acquired The Paper Straw Co which is a UK-based manufacturer of paper straws.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone: +1 (720) 306 9020

Email: sales@forencisresearch.com

Website: www.forencisresearch.com