Transparency Market Research delivers vital insights on the paper straws market in its report titled “Global Industry Analysis, Size, Share, Growth, Trends, Historical Analysis 2013-2018 and Forecast 2019-2027.” In terms of value, the global paper straws market is projected to expand at a CAGR of 13.8% during the forecast period.
Paper straws are single-use disposable
products manufactured from raw materials such as virgin kraft pulp and
recycle paper. Due to its compostable, biodegradable, and recyclable
nature paper is one of the best alternatives to plastic. In the report,
TMR proposes that the foodservice end-use segment is expected to drive
the paper straws market during the forecast period. The increasing
number of food outlets across the globe is boosting the growth of the
foodservice industry substantially. Besides, the rising demand for
eco-friendly foodservice disposables is likely to offer enormous growth
opportunities for the global paper straws market during the forecast
period.
Governments Supporting Sustainable Drives by Introducing Reforms Favorable for Non-Plastic Goods
North America is a significant
shareholder of the global paper straws market and is expected to expand
with a noteworthy CAGR during the forecast period. Due to the saturation
of plastic waste, and the subsequent harm to the environment, the US.
government has taken an initiative to ban the usage of single-use
plastic straws. Also, the consumer demand for eco-friendly straws, which
are hygienic and single-use, is expected to drive the growth of the
paper straws market during the forecast period. The US is expected to be
highly attractive in terms of market share and growth rate of paper
straws during the forecast period, owing to a vast consumer base and
robust growth of the foodservice industry.
Increasing government reforms and
campaigns to ditch plastic straws and the rising awareness among
consumers regarding its environmental impact are likely to generate
substantial growth opportunities for paper straws during the forecast
period. Also, initiatives of various brands to ban plastic straws in
Europe, such as Marriott UK, Starbucks, and others are expected to push
the growth of the paper straws market during the forecast period. U.K
and Germany are together expected to hold more than 1/3rd of the
European market share by the end of the forecast period. Overall, the
European paper straws market is anticipated to expand with a notable
CAGR during the forecast period.
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