25-Feb-2020 | Facts and Factors
Facts and Factors have published a new report titled “Paper Straw Market By Material (Virgin Paper & Recycled Paper), By Application (Foodservice, Institutional, & Household), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global paper straw market was valued at over USD 579 Million in 2020 and is expected to reach USD 1,576 Million by 2026, at a CAGR of over 19.5% between 2021 and 2026.
Increased application of the food straw in the end-use industries is the major factor driving the global market. Increasing consumer preference toward eco-friendly products and rising government obligations toward reducing plastic usage are other factors fuelling the growth of the paper straw market.
Browse the full “Paper Straw Market By Material (Virgin Paper & Recycled Paper), By Application (Foodservice, Institutional, & Household), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026" report at https://www.fnfresearch.com/paper-straw-market-report
In terms of both value and volume virgin paper expects to hold a major share during the forecast period
In the material type category, virgin paper anticipates dominating the market owing to its beneficial characteristics. Virgin paper straws are of high quality as they have a high absorption rate and are reliable and strong. This avoids wastage of straws for single usage, hence preferred more by the manufacturers and consumers.
Non-printed paper straws anticipate dominating the product type segment
Preference for non-printed paper straws is more since it avoids the ingestion of any harmful chemicals in the form of inks or dyes. The paper straws are manufactured using food-grade paper.
Among the end-use applications, the food service segment anticipates growing at the highest growth rate during the forecast period
The foodservice segment is growing at a rapid rate in most of the regions. Increasing industrialization and increasing disposable income are some of the factors triggering the growth of the foodservice segment. Thus, market players offering food services are looking out for products that are eco-friendly and sustainable. The demand for paper straws is increasing in the foodservice sector owing to growing awareness regarding the ban of plastic products.
The paper straw market expects to witness the highest CAGR in Europe
The region has witnessed an increased demand for paper straws in the last few years. The major countries that contribute to the European paper straw market are the United Kingdom and Germany. The key factor that supports the paper straw market is a rapidly growing food service business. Other factors that have aided in the market demand are environmental issues and government protocols for plastic restrictions.
Key Market Players
The key market participants for the global paper straw market are Fuling Global, Footprint, Charta Global, Canada Brown Eco Products, Bygreen, Biopak, Hoffmaster Group, Transcend Packaging, Royal Paper Industries, Huhtamaki OYJ, Tetra Pak, Hello Straw, Nippon Paper Group, Soton Daily Necessity Co. Ltd, and Shenzhen Grizzlies Industries Co. Ltd, among others.
The report on the global paper straw market is segmented into:
Global Paper Straw Market: By Material Segment Analysis
- Virgin Paper
- Recycled Paper
Global Paper Straw Market: By Application Segment Analysis
- Foodservice
- Institutional
- Household
Global Paper Straw Market: By Regional Segmentation Analysis
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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