Straw Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

Straw Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ -- The straw market has experienced robust growth in recent years, expanding from $17.70 billion in 2023 to $18.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to an increasing focus on utilizing agricultural by-products, a rise in demand for sustainable and biodegradable products, an increasing market for biodegradable straws in emerging economies, implementation of subsidies and incentives for renewable resources and increasing public awareness about environmental issues and plastic pollution.

Strong Future Growth Anticipated
The straw market is projected to continue its strong growth, reaching $24.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to the implementation of stricter bans on single-use plastics, corporate commitments to sustainability and zero-waste initiatives, a shift towards eco-friendly and organic products among consumers, increasing governmental support for green products through legislation and development of new, more efficient methods for producing biodegradable straws.

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Growth Driver Of The Straw Market
The increasing consumption of beverages is expected to propel the growth of the straw market going forward. Beverages are liquids that are consumed for hydration, nutrition, or enjoyment. The demand for beverages is rising due to increasing consumer preferences for diverse, convenient, and premium drink options and heightened social and cultural trends surrounding beverage consumption. Straws are required for alcoholic and non-alcoholic beverages to facilitate more accessible and hygienic consumption, enhance the drinking experience, and prevent spills, especially in on-the-go situations.

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Major Players And Market Trends
Key players in the straw market include Tetra Pak International SA, Stora Enso, Nippon Paper Industries Co. Ltd., Pactiv Evergreen Inc., Huhtamaki Oyj, Crate and Barrel.

Major companies operating in the straw market focus on developing innovative products, such as recyclable straws, to promote eco-friendly options among consumers. A recyclable straw is a drinking straw made from easily recycled materials.

Segments:
1) By Product: Plastic, Bamboo, Metal, Paper, Glass, Silicone, Other Products
2) By Sales Channel: Manufacturers, Distributors, Retailers, E-Retail
3) By Straw Length: <9 Cm, 9-15 Cm, 16-20 Cm, >20 Cm
4) By End Use: Foodservice, Institutional, Households

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the straw market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the straw market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Straw Market Definition
Straw refers to a thin tube used for sipping and consuming beverages. Drinking straws are often used for beverages like soft drinks, milkshakes, and cocktails. They are commonly used to drink liquids, providing a convenient and hygienic way to consume drinks. The purpose of straws is to allow for easier and more controlled intake of beverages, particularly useful for individuals with mobility or accessibility issues.

Straw Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Straw Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on straw market size, straw market drivers and trends, straw market major players, straw competitors' revenues, straw market positioning, and straw market growth across geographies. The straw market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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