Acumen Research and Consulting, a global market research provider, recently released a report titled “The Reusable Straws Market – Global Industry Analysis, Market Size, Opportunities and Forecast for 2021-2030”, which provides detailed market information, including an understanding of different market segments …
LOS ANGELES, July 21, 2021 (GLOBE NEWSWIRE) – Reusable straws generally more hygienic and environmentally friendly. These straws generate less waste and provide players with more efficient and effective customer service solutions.
In the United States, millions of disposable plastic straws are used daily. Worldwide, about 437 million plastic straws are found along the coastline. Currently, plastic straws account for up to 99% of the global drinking straw market, which is US $ 3 billion. In 2019, Bon Appétit Management, a foodservice company with 1,000 offices in the United States, announced that it would gradually phase out plastic straws. Starbucks, a well-known coffee brand, plans to phase out plastic straws by 2020. McDonald’s also announced a ban on plastic straws by the end of 2020. This will drive the growth of the market for reusable straws.
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In 2020, straw maker Plastic less sent out its straws, which are made from grass and bamboo. Each piece is handcrafted from natural raw materials in an ideal and favorable climate. Shipment of goods is used to help an organization renew its business and increase its revenue share.
In 2020, DIAGEO sent out Tanqueray Straw Capsule with suggestions for bundling and improving items, and these are expected to address both eco-design and customer-disapproved designs. This is to help the organization attract clients and increase the share of benefits.
In 2021, EQUO shipped drinking straws made from grass, rice, coconut, sugarcane and espresso. Rice sticks are made using rice and custard starch and are available in plant colors including white, green, pink, blue and yellow. This is necessary to help renew the company’s business.
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Factors such as irregular supply of raw materials and variable costs, as well as lack of awareness among consumers, are factors that are expected to hinder the development of the global market for reusable straws. In addition, a disrupted supply chain affects product availability, further testing the development of the global market. Be that as it may, changing informal laws, positive business practices and introducing new products from local players are factors that are expected to open new doors for players operating in the reusable straw market for a period of time. Moreover, expanding the association to strengthen the dispersal channel can help increase the revenue of the target market.
Market segment analysis
The market for reusable straws is divided into types, end uses and distribution channels. The typical segment is divided into stainless steel straws, bamboo straws, glass straws and others. The stainless steel straw segment is expected to grow and account for the bulk of the global reusable straw market revenue. The end-use segment is subdivided into homes, bars, restaurants, etc.
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The North American market is expected to represent a significant share of the global reusable straw market revenue due to government restrictions on plastic use. The presence of a huge number of players operating in the country and the presentation of new products at minimal cost are factors that are expected to help the development of the local market for reusable straws. In addition, the development of the market requires the expansion of security measures with core parts to build a business presence.
The global market for reusable straws is very competitive due to the presence of many players and innovative product offerings. In addition, business expansion through partnerships and agreements is expected to further intensify competition.
The following players are featured in the report: Simply Straws, Ecostrawz, FinalStraw, Buluh Straws, Lakeland Joie, Straw Free, Waitrose, Greens Steel, Koffie Straw, and Klean Kanteen.
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