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Paper and Plastic Straws Market Segments: By Product Type (Plastic and Paper); By Application (hotels, restaurants & motels, bars & lounges, cafes and others.); and Region - Global Analysis of Market Size, Share & Trends for 2014 - 2020 and Forecasts to 2030
Paper straws are straws made from paper and are used for drinking liquids. They are often produced as a straight during a pipe shape or can be given an adjustable angularity counting on the convenience of the user and therefore the kind of liquid which is served. Paper straws are available in several sizes and shapes counting on the density of the drink served. As they're made from paper hence, they're considered environmentally friendly and thus proving to be a possible alternative to plastic straws. They are fully biodegradable and may even be recycled after use, unlike plastic straws which take months to degrade. Since plastic goods are non-biodegradable, several governments have announced plans to phase out their use, despite the fact that they appear to have increased emission rates in recent decades. Paper-based straws are likely to gain new prospects as a result of this scenario. Furthermore, as consumer understanding of the environmental effects of plastic products grows, paper straws are likely to gain traction in a variety of end-use applications.
Global Paper and Plastic Straws Market to surpass USD 27.9 billion by 2030 from USD 10 billion in 2020 at a CAGR of 10.6 % in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Paper and Plastic Straws. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Paper and Plastic Straws industry.
Global Paper and Plastic Straws Market is segmented by product type into Plastic and Paper straws. Paper segment held the largest market share of XX.X% in the year 2020. One end of a thin tube of paper or other substance is placed in the mouth, while the other is placed in the beverage. Paper straws decompose quicker than plastic straws. Paper straws are compostable and biodegradable.
Global Paper and Plastic Straws Market is segmented by application into hotels, restaurants & motels, bars & lounges, cafes, and others. Over the forecast period, the café segment is projected to expand at the fastest pace. The way customers drink iced coffee and fountain drinks will likely change as major corporations begin to move away from plastic straws. The shift comes after concerns were high by environmental activists and across social media about the effect plastic drinking straws have on the environment once they are thrown away.
Surging demand of Paper and Plastic Straws Market from numerous end-user industries is the key factor contributing in the market growth. Over the next many years, a rising number of multinational restaurant and café chains is projected to drive sales growth in the global market. Other factors anticipated to drive demand for paper and plastic straws include increasing demand for on-the-go consumer drinks, higher disposable income levels, an increasingly growing food and beverage industry, and changing consumer taste and preferences. In addition, the demand for eco-friendly, natural & organic, and reusable straws, as well as consumers' preference for increased use of environmentally friendly goods, are expected to drive the market's growth to some extent.
In the last couple of years, there has been a tremendous increase and fast development in the beverages and food industries, serving thousands of customers every minute. This has resulted in a worldwide surge in the application of paper and plastic straws. Technological developments have resulted in the advent of online food supply platforms that help the paper and plastic straws market expand enormously.
Paper straws are comparatively costlier as compared to plastic straws. This is due to its complex manufacturing process from cutting trees to creating pulp and paper. This adds up to the cost and thus industries with small profit margin tend to use plastic straws as they are available at cheaper rates. Most of the paper straws are made from the organic material and tend to lose their strength when they come in contact with a liquid for a long period of time. Therefore they can only be used for a short period of time due to the tendency of paper to get dissolved in water for prolonged period of time.
Shenzhen Grizzlies Industries Co., Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Paper and Plastic Straws Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Paper and Plastic Straws Market in North America held the largest market share of XX.X% in the year 2020 in terms of revenue. This is due to the demand in the United States and Canada for paper and plastic straws. In the coming years, revenue from the Asia Pacific paper and plastic straws market is expected to rise at a faster pace. This is largely due to an increase in the number of producers and retailers in Asia Pacific countries, as well as increased market awareness of organic beverages in countries like India and China.
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