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.