Press release
Drinking Straw Market: Emerging Trends and Future Growth through 2031 | Hoffmaster Group Inc, Huhtamaki, Pactiv Evergreen.
Drinking Straw Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Drinking Straw market from 2024 to 2031, and what is the market value expected to change by 2031?
The Global Drinking Straw Market reached USD 25,845 million in 2022 and is projected to witness lucrative growth by reaching up to USD 136,282 million by 2031. The market is growing at a CAGR of 23.1% during the forecast period (2024-2031).
Market Overview:
The Drinking Straw Market focuses on the production and sale of straws used for consuming beverages, including plastic, paper, metal, silicone, and edible varieties. This market is driven by the growing demand for eco-friendly alternatives to plastic straws, influenced by global efforts to reduce plastic waste and the increasing popularity of sustainable products. The rise in health-conscious consumers also supports the demand for reusable, non-toxic straws. Additionally, innovations in biodegradable materials and government regulations restricting plastic straw usage contribute to the market's growth. The market serves a wide range of industries, including foodservice, hospitality, and retail.
Key Developments:
On January 2, 2023, Stora Enso successfully completed the divestment of its Nymölla paper production site in Sweden, along with all associated assets, to Sylvamo, a leading global producer of uncoated paper based in the United States. The transaction, valued at approximately EUR 150 million, marks a significant shift in Stora Enso's strategic focus.
On April 26, 2023, Innocent Drinks introduced an upgraded range of sturdier straws for its kids' smoothies and juice products. This enhancement reflects Innocent Drinks' ongoing commitment to improving its product offerings, responding to consumer feedback, and meeting evolving market demands.
List of the Key Players in the Drinking Straw Market:
Hoffmaster Group Inc, Huhtamaki, Pactiv Evergreen, Southeastern Liquid Analyzers, Inc, StoneStraw Limited, Paperstraw Group, B&B Straw Pack Co., Ltd, ACE, Absolute Custom Extrusions, Inc., R&M Plastic Products Ltd, and Tawfikiya Plastic Manufacturing S.A.E.
Research Process:
Both primary and secondary data sources have been used in the global Drinking Straw Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Segment Covered in the Drinking Straw Market:
By Type: Plastic Drinking Straw, Paper Drinking Straw.
By Shape: Straight Drinking Straws, U-Shape Drinking Straws, Telescopic Drinking Straws.
By Application: Foodservice, Institutional, Household.
Regional Breakout:
The global Drinking Straw Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
✫ North America (U.S., Canada, Mexico)
✫ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
✫ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
✫ South America (Colombia, Brazil, Argentina, Rest of South America)
✫ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**
This Report Unveils:
✔ Go to Market Strategy- A roadmap to successfully product launch or service in the target market.
✔ Gain a clear picture of the market's health and growth trajectory through neutral analysis.
✔ Deep Market Insights delve into development trends, competitor landscape, supply and demand dynamics, brand share & pricing analysis year-over-year growth patterns, and key players' performance.
✔ Upon request, we can provide customized reports focusing on specific regions or countries, offering a granular view of their markets.
✔ Identify high-potential niche segments and regions poised for significant expansion.
✔ Analysis of Market Size (historical and forecast) Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) to understand the market's overall size and your achievable market share.
✔ Gain a comprehensive understanding of the competitive landscape, including market share distribution, key players (innovators, startups, laggards, and pioneers), and their respective strengths and weaknesses.
Chapter Outline:
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of New Zealand Food Testing and Certification manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Revenue of New Zealand Food Testing and Certification in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.
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Frequently Asked Questions
☞ What is the expected growth rate of the global Drinking Straw market for the forecast period?
☞ What are the key driving factors that are responsible to shape the fate of the Drinking Straw market during the forecast period?
☞ What will be the overall size of the market during the analysis period?
☞ What are the prominent market trends which influence the development of the Drinking Straw market across various regions?
☞ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?
☞ What are the challenges and threats that are likely to act as a barrier to the growth of the Drinking Straw market?
☞ What are the major opportunities that the companies can get to attain success in the world?
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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