Market Share of Paper Straw Industry
The paper straw market is fragmented in nature. The key players in the market include Hoffmaster Group Inc., Huhtamaki Oyj, Fuling Global Inc., Transcend Packaging Ltd, Tembo Paper BV, and Karat Packaging Inc. (Lollicup USA Inc.). The players operating in the market are focusing on offering innovative products to stay competitive.
In August 2023, Transcend Packaging Ltd announced its partnership with Kluber Lubrications to make paper straws using vegetable-origin lubricants and reduce the use of mineral oil aromatic hydrocarbons (MOAH). The partnership will help the company evolve its production process, eliminate traces of mineral oil residue, and offer products that are compliant with future legislation that is expected to come into effect across Europe.
In May 2023, IPI SRL announced the acquisition of Oji Holdings Corporation. The acquisition will help Oji Holdings Corporation leverage IPI's technology and knowledge, leading to further development in the paper market.
Paper Straw Market Leaders
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Hoffmaster Group Inc.
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Transcend Packaging Ltd.
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Huhtamaki OYJ
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Fuling Global Inc.
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Karat Packaging, Inc. (Lollicup USA Inc.)
*Disclaimer: Major Players sorted in no particular order
