Eco-Friendly Straws Market is Estimated to Cross a Revenue of US$ 22.07 Billion by 2033, Registering a CAGR of 7.5% | Get Deep Data by Future Market Insights, Inc. – Yahoo Finance

NEWARK, DE / ACCESSWIRE / March 29, 2023 / The eco-friendly straws market is anticipated to expand its roots at a steady CAGR of 7.5% between 2023 and 2033. The market is anticipated to cross a market share of US$ 22.07 billion by 2033 while it is likely to be valued at US$ 10.71 billion in 2023.
Sustainable packaging solutions with bio-degradable crockery are gaining traction in households and food outlets. The discontinued plastic straws have led to the adoption of alternatives such as bamboo straws, papaya leaf stems, glass straw, and more.
The government support schemes for businesses adding sustainable solutions through tax deductions and easy loan reimbursement also garner market growth.
The new generation of food and beverage businesses is starting with the adoption of nature-friendly solutions such as paper eco-friendly straws. Furthermore, the increase in options such as printed and non-printed straight straws is pushing FMCG businesses to adopt sustainable solutions.
The future for the eco-friendly straws market looks promising as people are becoming aware of the hazardous effects of plastic and carbon emissions.
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Key Points:
The United States market is a significant eco-friendly straws market. The market thrives at a CAGR of 6.9% during the forecast period. The market growth is attributed to high awareness, and FMCG giants adopting paper as an alternative for tableware. The regional market is anticipated to hold a sales volume of 55 units in 2023.
India eco-friendly straws market leads the South Asia market in terms of CAGR with a leading CAGR of 14.1% between 2023 and 2033. The regional growth is attributed to the government’s efforts of fast transition along with the promotion of innovative ideas. The market is expected to hold a sales volume of 15 units in 2023.
The paper segment is likely to thrive in the material category as it expands on a CAGR of 10.1% between 2023 and 2033. The growth is attributed to its easy availability. Furthermore, companies experimenting with paper straws to make them strong against the liquid also fuel the sales.
Competitive Landscape:
The key vendors try to decrease the production cost while keeping the sustainable and recyclable elements high in their products. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Huhtamaki Oyj., Biopac (UK) Ltd., Sulapac Oy, The Paper Straw Co., Vegware Ltd., Hello Straw, The Blue Straw, JOVAMA, Wilbistraw, SAS OSTONE, EVOQ Sp. Z.O.O, TIPI STRAWS, Stroodles, and Papearth
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Recent Market Developments:
The Paper Straw Co and Billerudkorsnas (A Swedish Pulp and Paper Manufacturer) have introduced the 180-degree paper straw for individual drink cartons. Later, Hoffmaster group bought The Paper Straw Co. This straw is called ‘U-Bend Straw’ and is made of sustainable and eco-friendly paper.
Hello Straw, a biodegradable straw manufacturer launched 100% different biodegradable paper straws that involve bubble tea straws, aseptic straws, branded & custom straws, and straight & flexible straws. The company has also started producing sustainable paper cutlery.
Key Segments
Market By Straw Width / Diameter:
< 7 mm
7-10 mm
10-15 mm
> 15 mm
Market By Product Type:
Straight Eco-friendly Straws
Printed
Non-printed
Flexible Eco-friendly Straws
Printed
Non-printed
Market By Distribution Channel:
Manufacturers (Direct Sales)
Distributors
Retailers
Sold in Hypermarkets
Supermarkets
Convenience Stores
Specialty Stores
Discount Stores & Warehouse/Wholesale Clubs
Sold through e-Retail
Market By Material :
Paper Eco-friendly Straws
Virgin Craft Paper
Recycled Paper
Pasta Eco-friendly Straws
Glass Eco-friendly Straws
Bamboo Eco-friendly Straws
Polylactic Acid (PLA) Eco-friendly Straws
Metal Eco-friendly Straws
Market By End Use:
Food Service
Hotels & Logistics
Bars & Lounges
Cafes & Fast Food Outlets
Cinemas
Airline & Railway Catering
Institutional Use
Educational Use
Healthcare Use
Corporate Use
Household Use
To Gain More Insights about this Research, Visit https://www.futuremarketinsights.com/reports/eco-friendly-straws-market
Table of Content
1. Executive Summary | Eco-Friendly Straws Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
Click Here for Eco-Friendly Straws Market 306 pages TOC Report
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Bamboo Straws Market : According to Future Market Insights research, during the projected period, the global bamboo straws market is set to enjoy a valuation of US$ 4.3 Million in 2022, and further expand at a CAGR of 5.3% to reach US$ 7.3 Million by the year 2032. The sales of bamboo straws are anticipated to bolster with the top 5 companies projected to hold approximately 20 to 25% of the market by the end of 2022.
Metal Straws Market : The metal straw market is projected to register a CAGR of 6% during the forecast period, up from US$ 17 Bn in 2021 to reach a valuation of US$ 32.2 Bn by 2032.
Compostable Straws Market : The global compostable straws market is anticipated to accumulate a market value of US$ 1,670 million in 2023 and is expected to garner a valuation of US$ 3,250 million by exhibiting a CAGR of 6.8% in the forecast period 2023 to 2033. The market of temperature-controlled packaging boxes market reflected growth with a 5% CAGR in the historical period 2018 to 2022.
Reusable Straws Market : According to latest research by Future Market Insights, reusable straws market is set to witness steady growth over 11% during 2021-2031. Environmental corporate social responsibility management and strategy has been reshaping the consumer behaviour.
Fluorinated Bottle Market : The global fluorinated bottles market is forecast to gain a valuation of US$ 36.9 billion in 2023 and further grow at a CAGR of 4.2% between 2023 and 2033. Overall fluorinated bottle sales are likely to total a market valuation of US$ 55.7 billion by 2033. Rising usage across industries like chemical, automotive, and personal care is a key factor driving fluorinated bottle demand globally.
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