The Bamboo Straws Market: Overview
The Bamboo Straws Market is valued at around USD 4.3 million in 2022 and is expected to reach USD 7.3 million by 2030, registering a CAGR of 5.3% over the forecast period. A bamboo straw is a drinking straw manufactured from bamboo, a quickly expanding grass that is commonly cultivated throughout the world's tropical climates. Plastic straws, a significant contributor to pollution, can be replaced with bamboo straws. Bamboo straws are eco-friendly and biodegradable in contrast to plastic straws.
The Bamboo Straws Market - Growth Factor
The global bamboo straws market is anticipated to grow at a CAGR of 5.3% over the projected period to reach US$ 7.3 Mn by 2032 as a result of the increase in demand for biodegradable packaging in the food service industries. The market for bamboo straws is anticipated to have a profitable growth outlook throughout the anticipated timeframe. According to a recent FMI estimate, sales of bamboo straws would increase between 2022 and 2032, creating a lucrative incremental growth opportunity of US$ 3.1 million. The market for bamboo straws is anticipated to increase as the demand for eco-friendly straws rises. During the projected period, the market for bamboo straws is expected to grow by 1.7 times its current market value.
The Bamboo Straws Market Market Trends
The food service business is expanding significantly due to the rise of food outlets. The food and beverage industry has seen a dynamic shift in customer consumption habits. Food service firms compete among themselves for customers as a result of the return on investment, creating prosperous business opportunities for the producers of disposable food items.
The demand for food service packaging is being fuelled by the growing preference for takeout food. Due to the widespread ban on plastic straws, bamboo straw producers will soon have several growth opportunities. It is anticipated that the growing food service sector would lead to a significant increase in demand for food disposables like bamboo straws.
The market for bamboo straws worldwide is anticipated to have room to grow in the food service end-user segment. During the forecast period, the target segment is anticipated to increase at a rate that is 1.8 times the current market value.
The Bamboo Straws Market Segmentation
The Bamboo Straws Market fragrance concentrates market has been sub-classified into straw length, sales channel, end-user.
On the basis of straw length, the Bamboo Straws Market is bifurcated into:
<9cm
9-15 cm
16-20 cm
>20cm
others
On the basis of sales channel, the market is segmented into:
manufacturers
distributors
retailers
e-retail
others
On the basis of end-user, the market segmented into:
food service
Institutional
Household
others
The Bamboo Straws Market Regional Analysis
Asia-Pacific dominated the global Bamboo Straws Market, likely fuel the market's growth at a 6.0% CAGR during the forecast period and increase demand for bamboo straws. India has the title for having the greatest area under bamboo production, with more than 15.69 million hectares, according to data released by the National Bamboo Mission (NBM). In addition, the National Bamboo Mission and other initiatives by the Indian government to replace plastics with bamboo-made products have increased demand for bamboo packaging, including bamboo straws.
The Bamboo Straws Market Key Market players
Global key players of Bamboo Straws Market include Straw Free, Buluh Straws, Bamboo Straws Worldwide, Zone Bamboo Straws, Simply Straws, Kimberley-Clarke Corporation, Bambu, Anji Wuyuan Bamboo Products Factory, and others.
Report scope
Global Bamboo Straws Market: Historical Years- 2018-2021
Global Bamboo Straws Market: Forecast Years- 2022-2030
Global Bamboo Straws Market 2022- USD 4.3 million
Global Bamboo Straws Market 2030- USD 7.3 million
Global Bamboo Straws Market CAGR- 5.3%
