July 19, 2022 09:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, July 19, 2022 (GLOBE NEWSWIRE) -- According to a latest report by FMI, the global eco-friendly straws market is expected to reach US$ 1.5 Bn in 2022, likely to surge at a vigorous 5.1% CAGR during the assessment period 2022-2030.
Eco-friendly straws are biodegradable and non-toxic, which is a perfect alternative for chemically processed plastic straw. Manufacturing companies are trying to create eco-friendly straws that look stylish and trendy.
Bars, restaurants, and cafes are adopting the use of eco-friendly straws as it gives an elegant touch to the dining experience. These straws are made from biodegradable materials such as wood, paper, silicone, metal, bamboo, and glass. Straw manufacturers are working on innovations to attract more customers by introducing new designs such as star-shaped, polka dots, striped, and others.
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Increased consumption of food and beverages in catering sections requires a massive stock of eco-friendly straws to meet the demand. The hospitality and catering sector had to shut their business due to the outbreak of COVID-19, which hampered the growth of the eco-friendly straw market. Post-COVID, the demand is expected to increase as the consumers will resume visiting bars, cafes, and other commercial sectors.
COVID-19 Impact Analysis of Eco-Friendly Straws Market
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Global Eco-friendly straws market: Dynamics
Eco-friendly straws such as bamboo straw, compostable straws, metal & glass straws are replacing plastic straws, as latter one create a large amount of plastic waste. The global eco-friendly straws market is estimated to experience growth during the forecast period as per the number stringent regulations on plastic use.
Nearly 500 million plastic straws are discarded daily in the U.S., but over the past few months, restaurants & hotel groups are preferring eco-friendly straws. The global usage of eco-friendly products is ultimately impacting trends & styles in the food and beverage industry. Reduction in usage of straws, which is a non-essential part, may hamper the growth of the global ecofriendly straws market.
Competitive Landscape and Eco-Friendly Straws Market Share Analysis
The eco-friendly straws market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to eco-friendly straws market.
The major players covered in the eco-friendly straws market report 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, Papearth
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Key Segments of Eco-Friendly Straws Industry Survey
Eco-Friendly Straws Market by Straw Width / Diameter:
Eco-Friendly Straws Market by Product Type:
Eco-Friendly Straws Market by Distribution Channel:
Eco-Friendly Straws Market by Material:
Eco-Friendly Straws Market by End Use:
Eco-Friendly Straws Market By Region:
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3.1. Key Trends Impacting the Market
Have a Look at Related Research Reports of Packaging:
Bamboo Straws Market Size: Bamboo Straws Market: Global Industry Analysis and Opportunity Assessment; 2018 – 2028
Metal Straws Market Share: 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 Analysis: Compostable Straws Market : Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 – 2031
Eco-Friendly Bottle Market Outlook: Eco-Friendly Bottle Market : Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 – 2031
Eco-friendly Tea Packaging Market Trends: Eco-friendly Tea Packaging Market by Material, Distribution Channel, Packaging Format & Region - Forecast 2022 – 2032
Senior Friendly Packaging Market Demand: Senior Friendly Packaging Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 - 2028
Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison
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