The recent past has observed significant increase in the number of foodservice restaurants. This would remain among the leading factors driving consumption of straws at a global level. The mass shift in preference from plastics to recyclable and biodegradable material alternatives has been the key trend shaping straw sales. On the back of these factors, the straw market is projected to expand at a strong CAGR of nearly 7% during the forecast period (2019 - 2029).
Paper has been witnessing solid rise in demand as an eco-friendly, sustainable alternative to single use plastic, which indicates a massive opportunity for paper straws in the near future. Currently, plastic straws and paper straws collectively account for the most of global market revenues.
Key Takeaways - Straw Market Study
- Plastic straws are the most common trash item found in ocean. To overcome this and decrease the consumption of plastic straws, various manufacturers are offering recyclable, reusable, and compostable straws
- Increasing number of bars and lounges, restaurants, and quick service restaurants is intensifying consumption of straws
- Brand owners are investing in marketing and branding of products, which are expected to gain consumers’ attention
- Straw manufacturers are collaborating to produce custom-made straws with logos and taglines for marketing as well as branding
- To eliminate the usage of single-use plastic straws, foodservice companies and brand owners such as McDonald’s and Starbucks are using paper and bio-based straws
Straw manufacturers should focus on investments in novel material combinations to enhance the quality of straw, along with taking recyclability into consideration. Furthermore, small and medium scale players in the global straw market should augment investments in marketing through online foodservice platforms to establish themselves as a brand.
E-catering and Online Foodservice Platforms to Propel Straw Market Growth
For More Detailed Insights on Straws Market
Online foodservice platforms are providing convenient delivery at low costs, along with efficient packaging solutions, which is fueling worldwide sales of straws. Changing consumption pattern from offline to online sales channel in the F&B industry is anticipated to drive the straw market growth. Increasing number of fast food outlets and restaurants are also anticipated to create huge demand for straws in coming years.
Straw Market - Key Trends Shaping Competition
Manufacturers in the straw market are adopting collaboration strategy to expand their global reach. Leading players are offering wide range of options for straw consumers, such as collapsible straws, biodegradable straws, recyclable straws, reusable straws, and straw (Hay) straws.
- Collaborations and Joint Ventures
- Stora Enso Oy, a leading player in the packaging industry, and Sulapac Oy, a cosmetic packaging solution provider, formed a collaboration to create renewable straw ‘Sulapac Straw’.
- Product Launch
- A new entrant in the straw market, FinalStraw, which is a straw manufacturer, came up with a product ‘Collapsible Straw’. This can be folded and carried with a keychain, and is also reusable.
Learn More About the Report
Future Market Insights, in its new offering, brings to fore an unbiased analysis of the global straw market, presenting historical demand data (2014-2018) and forecast statistics for the forecast period 2019-2029. The study divulges compelling insights on the straw market on the basis of material (plastic straws, paper straws, metal straws, glass straws, bamboo straws, silicone straws, and hay/edible straws), straw length (<9 cm, 9-15 cm, 16-20 cm, and above 20 cm), sales channel (manufacturers, distributors, retailers and e-retail), and end-use (foodservice, institutional and households), across seven major regions.
For access to the informative insights on how the growth of straw market will unfold over the course of next decade, write to the analyst at email@example.com
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About Future Market Insights (FMI)
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