Reusable straw tend to be more hygienic and safe for the environment. These straws produce less waste and provide players with more effective and efficient solution to serve the customers.
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.
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.
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.
Segment Analysis by Region
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.
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.
Reusable Straws Market Segment Analysis, 2019
The global reusable straws market is segmented into type, end use, and distribution channel. The type segment is divided into stainless-steel 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. The players profiled in the report are FinalStraw, Buluh Straws, Simply Straws, Ecostrawz, Lakeland Joie, Greens Steel, Straw Free, Waitrose, Koffie Straw, and Klean Kanteen.
Market By Type
Market By End Use
Bar and Restaurants
Market By Distribution Channel
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.
In type the stainless-steel straw segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are FinalStraw, Buluh Straws, Simply Straws, and Ecostrawz, Lakeland Joie.
The North America is expected to account for major revenue share in the global 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.