Sustainable Straw Market
To provide an understanding of the sustainable straw and product movement including industry insights and the business focus and marketing tactics of top competitors in the industry (such as Aardvark, World Centric, Eco-Products, Loliwear and WinCup).
Insights on the Extent of Use of Plastic Straws and Associated Challenges
- Scientists estimate that there are 437 million to 8.3 billion plastic straws on the entire world's coastlines, with nearly 7.5 million plastic straws lying around U.S. shorelines.
- Estimates on the use of plastic straws in the U.S. range from around 170-175 million straws per day, according to Technomic; and 390 million straws a day according to Freedonia Group.
- Globally, of the nearly 9 million tons of plastic waste that flows in the ocean each year, straws add up to only about 2,000 tons of it (about 0.02%).
- Although plastic straws represent a comparatively small amount of all plastic waste, they are more difficult to recycle than other plastic items due to the size and weight of a straw that make it a challenge in sorting.
Insights on the Sustainable Straw Market
- Globally, "cities and nations are looking at banning plastic straws and stirrers in hopes of addressing the world's plastic pollution problem."
- Plastic straw bans have been declared in places like "Seattle and Vancouver, and at global companies like Starbucks Corp., McDonald’s Corp., Hyatt Hotels Corp., and Ikea, opening the door for alternatives."
- With the regulatory and consumer backlash on single use plastic straws, key market players are turning to eco-friendly straws that are either made up of bio-based materials such as paper, or reusable materials which includes food-grade silicone, metal or glass. Paper will continue to gain higher traction than its glass and metal counterparts owing to the relatively low price point.
- The overall global eco-friendly straw market is expected to grow by a CAGR of 7% from 2019 to 2025.
- One industry report estimates that the global paper straw market is projected to grow from $585 million in 2019 to $1,687 million by 2024, recording a CAGR of 23.6%; while another estimates the global paper straws market revenue to be over $1.6 billion in 2019 and is expected to increase at a CAGR of 13.8% from 2020 to 2026.
- The worldwide market for bamboo straw was estimated at $120 million in 2017 and is expected to reach $160 million in 2023 growing at a CAGR of about 5.6% over the next 5 years.
- The growth in the sustainable straw market will be driven by the rising usage of environment-friendly products over plastic, and the increasing consumer demand for sustainable products.
Insights on Main Players in the Sustainable Straw Market
- Some of the key players in the global eco-friendly straw market include: Huhtamäki Oyj, Tetra Pak International S.A., Hoffmaster Group Inc. (Aardvark Straws), Biopac (UK) Ltd., Merrypak, Guanlin Paper Products Co., Ltd., Straw Free, Bamboo Straws Worldwide, Simply Straws, Footprint (U.S.), Fuling Global Inc (China).
- Between 2016 and 2019 corporations expanded their operations to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the paper straw market. These companies included Huhtamäki Oyj (Finland), Footprint (US), Fuling Global Inc. (China), and Canada Brown Eco Products Ltd (China).
Summary of Findings
- In this first hour of research, we found some insights on the sustainable/eco-friendly straw market and some key players in the industry.
- We have assumed a global focus in our research. If a more targeted approach is desired, for example, the U.S., this would have to be clearly communicated to us in any reply.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address the stated goals.
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