Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.4 Billion | USD 21.3 Billion | 8.7% | 2022 |
FrequentlyAsked Questions
Paper straws are garnering huge popularity owing to the rise in the awareness about sustainability of plastic straws become the target of growing government regulations. All across the globe, a large number of countries are making use of paper straws instead of plastic because of the eco-friendly nature of plastic and owing to strict government laws in various nations over banning plastic use to avoid environmental degradation.
The global paper straw market is projected to expand over 2023-2030 owing to a massive customer preference for eco-friendly products and strict government laws promoting the use of biodegradable products.
According to study, the global paper straw market size was $11.4 billion in 2022 and is projected to reach $21.3 billion by the end of 2030.
The global paper straw market is anticipated to record a CAGR of nearly 8.7% from 2023 to 2030.
The European Paper Straw industry is set to register the fastest CAGR over the forecasting period subject to rising demand for paper straws in Germany, France, Italy, the UK, Holland, Spain, and Finland. In addition to this, strict EU laws banning the use of plastics to reduce environmental degradation and meetings such as the Paris Convention to minimize the greenhouse effect on the environment have led to the acceptance of eco-friendly products by the customers.
The global paper straw market is led by industry players such as Footprint, Lollicup USA, Inc., Hoffmaster Group, Inc., Shenzhen Grizzlies Industries Co., LTD, Soton Daily Necessities Co., Ltd., Aleco Industrial Co. Ltd., Transcend Packaging Ltd., Biopak, Bygreen, Canada Brown Eco Products Ltd., Focus Technology Co., Ltd., Fuling Global Inc., Tipi Straws, Huhtamaki Oyj, Charta Global, Ningbo Jiangbei Shenyu Industry and Trade Co., Ltd., and YuTong Eco-Technology (SuQian) Co., Ltd.
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