What is the Impact of the COVID-19 Crisis on Paper Straws Market?

What is the Impact of the COVID-19 Crisis on Paper Straws Market?

“Paper Straws Market”
Globally, the revenue generated by the paper straws market has been estimated to be over US$ 1.6 Bn in 2019 and is expected to increase at a CAGR of 13.8% in terms of value throughout the forecast period.

The global paper straws market has engulfed new trends and propensities over the past decade. The growing demand for paper straws can be attributed to the surge in production of biodegradable materials. Moreover, paper straws have emerged as a valued alternative to plastic straws that contribute to environmental degradation. The total volume of revenues within the global paper straws market is expected to multiply in the years to follow. This assertion can partly be attributed to the efforts of the food and beverages industry to endorse biodegradable products. Furthermore, manufacturers of paper-based products have accelerated their speed of production to cater to the increasing demand. Therefore, it is safe to accord the paper straws market with distinction in growth. 

Transparency Market Research (TMR), in one of its reports, predicts that the global plastic straws market would expand at a starry CAGR of 13.8% over the period 2019 and 2027. The total value of the global paper straws market is tabulated at US$ 1.6 Bn in 2019. The availability of various sizes and shapes of paper straws has played an integral role in market growth. Moreover, retail shops have become important selling points for such products.

Rhino Paper Straws has been extremely responsive to the demand for biodegradable straws. The company manufactures gluten-free straws made from high-quality paper. The company claims that these straws can withstand all types of drinks for around four hours. The paper used to manufacture these straws is procured from renewable tree farms. 

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Demand for Green and Eco-friendly Products 

The strong uprising against the use of plastics and other non-biodegradable products has caused formidable disruptions across multiple industries. The use of biodegradable products has become a mark of responsibility and better citizenship. Environmentalists are persuading national governments and planning authorities to ban a major share of plastic products that glut the market. Therefore, the use of plastic straws and glasses is gradually running out of practice. Considering the factors stated above, it is safe to expect that the global paper straws market would tread along a lucrative pathway. 

Use of Effective Marketing Strategies 

The use of paper straws across cafes and bakeries has become quite prominent. Moreover, the development of collaterals for these units follows a comprehensive approach toward marketing and sales. Since paper-based straws have a larger scope for customization in terms of colour and attractiveness, the use of these straws has gained momentum. The design of plastic straws can undergo greater level of customization. For this reason, several buyers still prefer to use plastic straws. However, the vendors in the global paper straws market could capitalise on the shift from plastics to biodegradable products to earn sustainable revenues. 

Some of the leading vendors in the global paper straws market are Hoffmaster Group Inc., The Paper Straw Co., and U.S. Paper Straw. 

Paper Straws – Market Dynamics

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.

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. Hence, there are high growth opportunities for paper straws in the near future, owing to the plastic straw ban in many countries and the rising demand for eco-friendly products. Such factors together are foreseen to propel the growth of the global paper straws market during the forecast period.

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One of the important factors that drive the growth of the paper straws market is the consumer inclination towards eco-friendly, as well as convenient products. Consumables which are appealing, as well as disposable after one use, always get the attention of the consumer. Thus, manufacturers of paper straws are providing printed paper straws with appealing designs to grab consumer attention in the marketplace. Paper straws made with 3-4 layers of paper around a mold and a number of additives, are comparatively more durable than conventional paper straws. Paper straws answer to the market need of durable and sustainable alternative to plastic straws and are likely to gain significant traction during the forecast period. 

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