The demand and supply analysis implies that the global paper straw market is driven by the growth of the food service market. Value chain participants in the global straw market are focusing on adopting business models and growth strategies in synchronization with biodegradability and reusability of straws. Food service segment in the straw market is expected to create high incremental opportunity during the forecast period.
Plastic straw consumption in the world was increasing by leaps and bounds before the last 2-3 years. However, rising intolerance towards plastic straws, growing consumer demand for eco-friendly straws, and globally increasing government reforms and campaigns to ban plastic straws are likely to offer a positive outlook for the paper straws market. On-the-go consumers demand more than convenience from their products. They are increasingly aware of their choices and are picking more sustainable options.
The latest trend is to move towards non-plastic straws. Paper straws are hygienic, single-use products found in restaurants, bars & lounges, soda shops, and other places. Straws built of paper hold up during the course of a meal, and once discarded, they degrade way faster than those made with plastic, thus, leaving a smaller impact on the environment. The improvised characteristics of paper straws and their sustainable nature are likely to drive the growth of the global paper straw market during the forecast period.
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The food service industry is a significant consumer of paper straws, and the increasing number of food outlets is boosting the demand for paper straws substantially. There has been a dynamic shift in the consumer consumption pattern in the food and beverages sector. On an average, online food delivery platforms in emerging countries such as India, offer over 40% return on investment.
This is leading to intense competition across food delivery platforms among food service companies, which provides lucrative opportunities to food disposable products such as paper straws. Preference for takeaway food or ready-to-eat food is increasing which, in turn, is fuelling the food service packaging demand.
Key Factors Shaping the Global Paper Straw Market
Increasing Use of Beverage Packages to Boost the Straw Market Growth
To enhance convenience and ensure hygiene at workplaces, brand owners and corporates prefer straws along-with tetra packs. Manufacturers directly provide packaged product or packages to beverage companies. Consequently, the demand for packaged beverages to fuel the straw market growth during the coming years.
Market Inclination Toward Biodegradable Foodservice Packaging Solutions
Due to all single-use plastic bans across the world, manufacturers in the straw market are coming up with sustainable and biodegradable straws.