https://www.acumenresearchandconsulting.com/
Home Services Industry Services Press Releases About Us Blogs Report Store Contact us

Reusable Straws Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Published : Jul 2022

Report ID: ARC2727

Pages : 250

Format : Reusable Straws Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The Global Reusable Straws Market Size was valued at USD 1,785 Million in 2021 and is predicted to be worth USD 3,374 Million by 2030, with a CAGR of 7.5% from 2022 to 2030.

Reusable straw tend to be more hygienic and safe for the environment. These straws produce less waste and provide players with more effective and eficient solution to serve the customers.

Reusable Straws Market is predicted to be worth USD 3,374 Million by 2030, with a CAGR of 7.5%

Report Coverage

Market Reusable Straws Market
Market Size 2021 USD 1,785 Million
Market Forecast 2030 USD 3,374 Million
CAGR During 2022 - 2030 7.5%
Analysis Period 2018 - 2030
Base Year 2021
Forecast Data 2022 - 2030
Segments Covered By Type, By End-User, By Distribution Channel, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled FinalStraw, Buluh Straws, Simply Straws, Ecostrawz, Lakeland Joie, Greens Steel, Straw Free, Waitrose, Koffie Straw, and Klean Kanteen.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope

10 hrs of free customization and expert consultation

Reusable Straws Market Dynamics

Rapid advancements in raw material used for manufacturing of straw, stringent government regulation related to use of plastic and rising awareness among consumers related to environment are major factors expected to drive the growth of global reusable straws market.  Straw are widely used in beverage industry with the rise in plastic waste accumulation negatively impacting the environment demand for eco-friendly straw is increasing. The United States uses millions of single-use plastic straws a day. The use of single-use plastic per day in the US is millions. Across the globe single use plastic is a major contributor to plastic marine debris. In the five years cleanup research project the result showed nearly 7.5 million plastic straws are found on US shoreline. Globally 437 million to 8.3 billion plastic straws are found on the coastline. Plastic straw presently makes up to 99% of the global drinking straw market that is US$ 3 billion. In 2019, Bon Appétit Management, a food service company with 1,000 U.S. locations, announced it will phase out plastic straws. Starbucks plans to phase out plastic straws by 2020. McDonald’s recently announced it will ban plastic straws at its U.K outlets. This is expected to impact the growth of reusable straws market.

Factors such as fluctuating raw material prices and lack of awareness among consumers are factors expected to hamper the growth of global reusable straws market. In addition, disturbed supply chain is impacting product availability further challenging the growth of global market. However, changing government regulations, favorable business policies, and the introduction of new products from regional players are factors expected to create new opportunities for players operating in the reusable straws market over the forecast period. In addition, increasing partnership in order to strengthen the distribution channel is expected to support the revenue growth of target market.

Reusable Straws Market Segmentation

The global reusable straws market is segmented into type, end-use, and distribution channel. The type segment is divided into stainless-steel straw, reusable plastic straw, bamboo straw, glass straw, and other. Among type, the stainless-steel straw segment is expected to account for major revenue share in the global reusable straws market. The end-use segment is bifurcated into home, bar and restaurants, and other.

Market by Type

  • Stainless-Steel Straw
  • Reusable Plastic Straw
  • Bamboo Straw
  • Glass Straw
  • Other

Reusable Straws Market By Type is predicted to be worth USD 3,374 Million by 2030, with a CAGR of 7.5%

Market by End-Use

  • Home
  • Bar and Restaurants
  • Other

Reusable Straws Market By End-Use is predicted to be worth USD 3,374 Million by 2030, with a CAGR of 7.5%

Market by Distribution Channel

  • Offline
  • Others

Reusable Straws Market Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Latin America

  • Mexico
  • Brazil
  • Rest of Latin America

Asia-Pacific

  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Rest of Asia-Pacific

The Middle East & Africa (MEA)

  • Gulf Cooperation Council (GCC)
  • South Africa
  • Rest of the Middle East & Africa

The market in North America is expected to account for major revenue share in the global reusable straws market due to ban on use of plastic from the government. Presence of large number of players operating in the country and introduction of low cost new products are factors expected to support the regional reusable straws market growth. In addition, increasing acquisition activities by players in order to increase the business presence is expected to support the market growth.

Reusable Straws Market Players

The global reusable straws market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. Some of the prominent global Reusable Straws market companies are FinalStraw, Buluh Straws, Simply Straws, Ecostrawz, Lakeland Joie, Greens Steel, Straw Free, Waitrose, Koffie Straw, and Klean Kanteen.

Major players are investing high for R&D activities, their approach towards enhancing the business through introduction of new products are factors expected to support the growth of reusable straws market.

In 2020, Plasticless, a straw manufacturer launched its sustainable straws that are made from grass and bamboo. Each product is handmade with high-quality organic raw materials in a clean and conducive environment. The product launch is expected to help company to enhance the business and increase the revenue share.

In 2020, DIAGEO, launched Tanqueray Straw Capsule the packaging and product innovations and designs aim to appeal to both eco- and fashion-minded consumers. This is expected to help the company attract new customers and increase the profit ratio.

In 2021, EQUO, launched drinking straws made from grass, rice, coconut, sugarcane and coffee. The rice straws are made from rice and tapioca starch and are available in plant-based colors including white, green, pink, blue and yellow. This is expected to help company enhance the business.

 

Frequently Asked Questions

How much was the global reusable straws market size in 2021?

The global reusable straws market size in 2021 was accounted to be USD 1,785 Million.

What will be the projected CAGR for global reusable straws market during forecast period of 2022 to 2030?

The projected CAGR of reusable straws during the analysis period of 2022 to 2030 is 7.5%.

Which are the prominent competitors operating in the market?

The prominent players of the global reusable straws market involve FinalStraw, Buluh Straws, Simply Straws, Ecostrawz, Lakeland Joie, Greens Steel, Straw Free, Waitrose, Koffie Straw, and Klean Kanteen.

Which region held the dominating position in the global reusable straws market?

Asia-Pacific held the dominating share for reusable straws during the analysis period of 2022 to 2030.

Which region exhibited the fastest growing CAGR for the forecast period of 2022 to 2030?

North America region exhibited fastest growing CAGR for reusable straws during the analysis period of 2022 to 2030.

What are the current trends and dynamics in the global reusable straws market?

Increasing consumer awareness of green products, as well as rising demand in cafeterias and bars due to cost-cutting measures, are the prominent factors that fuel the growth of global reusable straws market.

By segment type, which sub-segment held the maximum share?

Based on type, stainless-steel straw segment held the maximum share for reusable straws market in 2021.

Select Licence Type

Single User

US$ 4500

Multi User

US$ 7000

Excel Datapack

US$ 2000

Why Acumen Research And Consulting

100%

Customer Satisfaction

24x7

Availability - we are always there when you need us

200+

Fortune 50 Companies trust Acumen Research and Consulting

80%

of our reports are exclusive and first in the industry

100%

more data and analysis

1000+

reports published till date