Home Research Reports Foodservice Industry to Generate Green Spaces for Eco-friendly Straws: FMI Study

Foodservice Industry to Generate Green Spaces for Eco-friendly Straws: FMI Study

by markit Wired
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According to FMI, the global eco-friendly straws market is anticipated to exhibit a positive growth trend through 2030, primarily driven by growing focus on sustainable manufacturing and consumption. The report opines that awareness about sustainable living and rising environmental protection concerns will influence investments in eco-friendly products, and straws as a category will benefit from it. The Global Eco-friendly Straw Market size was estimated at USD 266.95 Million in 2020 and expected to reach USD 298.74 Million in 2021, at a Compound Annual Growth Rate (CAGR) 12.24% to reach USD 533.96 Million by 2026.

Demand for eco-friendly straws is especially strong across the foodservice segment, with an increasing proportion of consumers preferring to eat fast foods and other ready-to-serve meals.

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 Key Takeaways
  • Global eco-friendly straws market to expand at 4.9% CAGR through 2030
  • Stringent legal provisions combined with awareness campaigns by NGOs to curb plastic waste likely to drive market growth
  • Virgin kraft paper to witness maximum adoption in eco-friendly straws production due to enhanced material neutrality
  • Sales through e-commerce channels to surpass US$ 2 Bn by 2030
  • Europe will witness higher investments in eco-friendly straws.

eco friendly straws market

“Collaborations with governmental agencies and global platforms to spread awareness about plastic waste generation is considered an important approach by vendors to promote sales of eco-friendly straws,” says the FMI analyst.

COVID-19 Impact Analysis

With the onset of the coronavirus pandemic, a definite hygiene oriented pattern has emerged within consumers’ habits. Consumers are reallocating their budgets towards purchasing immunity and hygiene enhancing foods and beverages.

This trend of healthy drinking and eating also entails utilization of environmentally friendly utensils such as paper plates, bowls, straws and cutlery. Hence, demand for eco-friendly straws in household settings has witnessed a major spike since the past few months.

The imposition of lockdowns has compelled organizations to issue work-from-home directives. Subsequently, there has been an increase in the demand for fast foods and ready-to-drink beverages through online delivery platforms. This has impelled the sales of eco-friendly straws.

A moderate downswing is anticipated with the cessation of outdoor dine-in activities. Fears of community infection spreading has compelled hotels, cafeterias and restaurants to suspend all dining operations, decelerating demand for eco-friendly straws across the commercial sector.

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Eco-friendly Straws Market- Report Scope
Attribute Details
Forecast Period 2020-2030
Historical Data Available for 2015-2019
Market Analysis US$ Mn for Value and ‘000 Units for Volume
Key Regions Covered North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA)
Key Countries Covered U.S, Canada, Germany, U.K, France, Italy, Spain, Mexico, Brazil, China, India, ASEAN, GCC & South Africa
Key Segments Covered Material, Product Type, Straw Width/Diameter, Distribution Channel and End-Use
Key Companies Profiled
  • Huhtamaki Oyj.
  • Biopac (UK) Ltd.
  • Sulapac Oy
  • The Paper Straw Co.
  • Vegware Ltd.
  • Hello Straw
  • The Blue Straw
  • JOVAMA
  • Wilbistraw
  • SAS OSTONE
  • EVOQ Sp. Z.O.O
  • TIPI STRAWS
  • Stroodles
  • Papearth
Report Coverage Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis
Customization & Pricing Available upon Request
Competitive Landscape

Key players are focusing on expanding their reach globally by diversifying their product portfolio. They also undertake awareness campaigns to minimize usage of non-recyclable material and strategic partnerships with existing players.

In 2018, Sulapac Oy joined forces with Stora Enso to develop renewable and biodegradable straws. This partnership is a product of both companies’ commitment to combat the global problem of plastic waste generation. The straws are made from wood and natural binders, recyclable via industrial composting.

Recently, in May 2020, Huhtamaki Oyj collaborated with WasteAid and announced a global partnership to drive community level circular economy innovation in key locations. The collaboration aims to provide education and training on waste management and circular systems and work with key stakeholders across India, Vietnam and South Africa.

More Insights on the Eco-friendly Straws Market

Future Market Insights, in its new report, offers an unbiased analysis of the global eco-friendly straws market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the eco-friendly straws market on the basis of material (paper, pasta, glass, bamboo, PLA and metal), product type (straight straw and flexible straw.), width/diameter (< 7mm, 7 – 10 mm, 10 – 15 mm and > 15 mm), distribution channel (manufacturers, distributors, retailers and e-retail), end use (food service, institutional and household) across seven regions.

About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help

The post Foodservice Industry to Generate Green Spaces for Eco-friendly Straws: FMI Study appeared first on Industry News Analsis.

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