Market Overview:
Paper cones are extensively used for winding and unwinding paper, textiles, films, foils and wires in different end-use industries such as food and beverage, cosmetics & personal care, pharmaceuticals, and more. They offer various advantages such as being lightweight, hygienic, compact and cost-effective as compared to their plastic counterparts. Paper cones are also recyclable, thus environment friendly. The growing demand for paper cones from various industries drives the growth of the global paper cone market.
Market key trends:
The key trend witnessed in the paper cone market is increasing application of paper cones in the food and beverage industry. Paper cones are gaining popularity over plastic cones for packaging food items like chips, cookies, candies, etc. due to their recyclable and eco-friendly nature. They ensure freshness and hygiene of packed food items. Additionally, paper cones are moisture resistant and provide robust protection as compared to plastic or foil materials. This has boosted their adoption among F&B companies who are focusing on sustainability. Another trend is growing demand for customized paper cones catering to specific requirements of end use industries. Manufacturers are offering paper cones in varied sizes, shapes and designs to suit diverse applications. This is expanding the potential of paper cones across industries.
Porter’s Analysis
Threat of new entrants: Low capital requirements for paper cone manufacturing limits the threat of new entrants to the Paper Cone Market Demand.
Bargaining power of buyers: The global paper cone market has multiple buyers from various end-use industries lowering their bargaining power.
Bargaining power of suppliers: Raw material suppliers have moderate bargaining power in the paper cone market owing to the lack of product differentiation.
Threat of new substitutes: Paper cones face moderate threat from substitutes like plastic cones, however, paper cones are considered more environment-friendly.
Competitive rivalry: The global paper cone market is a consolidated market with the presence of multiple manufacturers globally.
Key Takeaways
The global paper cone market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period 2023 to 2030, due to increasing demand from food and beverage industries. The paper cone market size for 2023 is estimated to be US$ 8.05 Bn.
Regionally, Asia Pacific dominates the global paper cone market and is estimated to grow at the fastest rate during the forecast period. Abundant availability of raw materials and labor, along with the presence of emerging economies like China and India, driving the demand.
Key players operating in the paper cone market are Huhtamaki Oyj, Conitex Sonoco, Tubettificio Senese S.r.l., A.C.M.I. S.p.A., PTM Packaging Pvt. Ltd., Sonoco Products Company, Paper Machinery Corporation, Raeed Company, SUNRISE PAPER INDUSTRY CO., LTD., Fujian Minqing Technology Co.,Ltd, Fulistar New Material Technology Co., Ltd., Xinhe Paper Cone Making Machinery Co., Ltd., Global Sources, Jaiding Paper Products Co., Limited, Ace Paper Products Company, Dongguan City Leyu Paper Products Co., Ltd., Jiangyin Golden Bridge Printing & Packaging Machinery Co., Ltd, Shenyang Beizhi Paper Machinery Co., Ltd., KU Sodalamuthu And Co. Pvt Ltd, National Paper Products.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it