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The global straw market is expected to post a CAGR of 5.3% during the forecast period. The market is expected to be valued at US$ 19.2 billion in 2023. The estimation is projected to surpass US$ 32.2 billion by 2033.
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The globalstraw marketis expected to post a CAGR of 5.3% during the forecast period. The market is expected to be valued at US$ 19.2 billion in 2023. The estimation is projected to surpass US$ 32.2 billion by 2033. 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, theStraw Marketis projected to expand at a strong CAGR of nearly 5.9% during the forecast period (2022 – 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. Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-9214 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 For any Queries Related with the Report, Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-9214 E-catering and Online Foodservice Platforms to Propel Straw Market Growth 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. Key Segments of Straw Industry Research By Product:
• Plastic Straws • Bamboo Straws • Metal Straws • Paper Straws • Glass Straws • Silicone Straws • Others By Straw Length: • <9 cm Straws • 9-15 cm Straws • 16-20 cm Straws • >20 cm Straws By Sales Channel: • Straw Manufacturers • Straw Distributors • Straw Retailers • E-retail of Straws By End Use: • Foodservice • Institutional • Households Customization in the Report, Enquire Now @ https://www.futuremarketinsights.com/customization-available/rep-gb-9214
