MarkNtel Advisors, a leading market research firm, has showed its latest study titled "Global Straw Market", offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Global Straw Market: 2024-2030
The Global Straw Market size was valued at around USD 5.5 billion in 2023 & is estimated to grow at a CAGR of around 4.8% during the forecast period, i.e., 2024-30.
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Global Straw Market Driver:
Growth of Food Service Outlets Driving Market Demand – The adoption of paper straws and other sustainable straws replaces plastic straws. However, the growth in the overall Global Straw Market will come from the growth in food service outlets. This is primarily due to the extensive consumption of drinks and beverages in restaurants, café and coffee shops, bars & clubs, and fast food chains. In these food service outlets, drinks are generally served in a cup with a straw. This leads to the extensive consumption of single-use plastic straws. For example, Tim Hortons, a large multinational coffee and quick-service restaurant chain, uses an astonishing 300 million straws each year in its restaurant locations across Canada.
As the food service market continues to grow, the demand for straws will increase in tandem. Major global food service outlets (for example, Starbucks, Tim Hortons, Dunkin’, McDonald’s, and Burger King) have announced their growth strategy for the future, which will feature substantial store growth in new and developing markets around the world. Specifically, these companies intend to open more stores in the rapidly developing Asia-Pacific Region, which hosts immediate and emerging economies (Indian and Chinese economies, respectively). Likewise, the Asia-Pacific region represents a large population base, expanding middle class, and increasing disposable income. These are significant points that outline the healthy future growth potential of the Global Straw Market.
Global Straw Market Segmentation:
The Global Straw Market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Type
-Plastic Straws- Market Size & Forecast 2019-2030, Thousand Units
-Metal Straws- Market Size & Forecast 2019-2030, Thousand Units
-Paper Straws- Market Size & Forecast 2019-2030, Thousand Units
-Bamboo Straws- Market Size & Forecast 2019-2030, Thousand Units
-Silicone Straws- Market Size & Forecast 2019-2030, Thousand Units
-Others (Glass Straws, PLA straws, etc.) - Market Size & Forecast 2019-2030, Thousand Units
By Straw Length
-<9 cm- Market Size & Forecast 2019-2030, Thousand Units
-9-15 cm- Market Size & Forecast 2019-2030, Thousand Units
-16- 20 cm- Market Size & Forecast 2019-2030, Thousand Units
->20 cm- Market Size & Forecast 2019-2030, Thousand Units
By Material
-Biodegradable- Market Size & Forecast 2019-2030, Thousand Units
-Non-Biodegradable- Market Size & Forecast 2019-2030, Thousand Units
By Shape
-Straight Straws- Market Size & Forecast 2019-2030, Thousand Units
-Bent or Curved Straws- Market Size & Forecast 2019-2030, Thousand Units
-Twist Straws- Market Size & Forecast 2019-2030, Thousand Units
-Others (Telescopic straws, Flexible Straws, etc.)- Market Size & Forecast 2019-2030, Thousand Units
By Distribution Channel
-Offline- Market Size & Forecast 2019-2030, Thousand Units
-Direct Sales (B2B)- Market Size & Forecast 2019-2030, Thousand Units
-Supermarkets and Hypermarkets- Market Size & Forecast 2019-2030, Thousand Units
-Others- Market Size & Forecast 2019-2030, Thousand Units
-Online- Market Size & Forecast 2019-2030, Thousand Units
By End Users
-Food Service Outlets- Market Size & Forecast 2019-2030, Thousand Units
-Restaurants- Market Size & Forecast 2019-2030, Thousand Units
-Cafés and Coffee Shops- Market Size & Forecast 2019-2030, Thousand Units
-Bars and Clubs- Market Size & Forecast 2019-2030, Thousand Units
-Fast Food Chains- Market Size & Forecast 2019-2030, Thousand Units
-Households- Market Size & Forecast 2019-2030, Thousand Units
-Food & Beverage Industries- Market Size & Forecast 2019-2030, Thousand Units.
Geographical Analysis into the Global Straw Market:
· North America
· South America
· Europe
· The Middle East & Africa
· Asia-Pacific
Read Detailed Index of full Research Study at – https://www.marknteladvisors.com/research-library/straw-market.html
Competitive Landscape and Global Straw Market Share Analysis:
The competitive landscape of the Global Straw Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
The report features major players including:
Huhtamäki Oyj, Hoffmaster Group, Inc., Transcend Packaging, Canada Brown Eco Products Ltd, Alpha Charta d.o.o., Footprint, Tetra Pak Group, Nippon Paper Industries Co. Ltd., Stora Enso Oy, Bio Agave, Absolute Custom Extrusions Inc., Klean Kanteen, Simply Straws, Southeastern Liquid Analyzers Inc., Stone Straws Ltd., and Others.
Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.
Questions Addressed in this Study
· What factors are driving the Global Straw Market growth?
· How is the Global Straw Market expected to grow over the next five years?
· What are the key insights into the current trends in the Global Straw Market?
· What is the current size of the Global Straw Market, and how is it projected to change in the future?
· What is the future outlook for the Global Straw Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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