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Bamboo Straws Market Size, Industry Analysis Report By Sales Channel (manufacturers, distributors retailers, e-retail), By End-User (food service, Institutional, Household) & Region – Forecast

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 240
  • CATEGORY
  • Retails & Consumer
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%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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