Paper cones are used for packaging of various frozen foods, snacks, candies, biscuits and bakery items. They provide product protection and moisture barrier along with convenient dispensing of powdered and granular products. Growing demand for packaged and processed foods and beverages is driving the growth of paper cone market.
The global Paper Cone Market is estimated to be valued at US$ 8.05 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for processed foods and beverages is propelling the paper cone market. Paper cones are widely used in the food and beverage industry for packaging snacks, frozen foods, candies, biscuits, coffee and other products. With rising urbanization and changing lifestyle, there is significant growth in the demand for packaged and ready-to-eat meals. The working population prefers packaged foods due to lack of time for cooking. This in turn is augmenting the demand for paper cones used in packaging of various foods and beverages. Innovation and development of new packaging styles by manufacturers is also boosting the paper cone market.
SWOT Analysis
Strength: Paper cone is a widely used and sustainable packaging solution which provides protection and shape retention. It is cost effective and environment friendly solution.
Weakness: Paper cones are bulky and difficult to ship in large quantities as compared to flat cardboard boxes. They also have lower strength compared to plastic packaging solutions.
Opportunity: Increasing adoption of paper cones from food, pharmaceutical and chemical industries owing to rising demand for eco-friendly packaging. Growth in e-commerce sector is also propelling the market.
Threats: Availability of substitute packaging materials like plastic, corrugated boxes and plastic cone poses threat to paper cone market. Fluctuations in raw material prices can negatively impact the profit margins.
Key Takeaways
The global Paper Cone Market Size is expected to witness high growth at a CAGR of 7.3% during the forecast period of 2023 to 2030. Regional analysis
Asia Pacific region dominates the global paper cone market with more than 35% share due to strong presence of paper cone manufacturing industries and low production costs in countries like China and India. The region is expected to maintain its leading position over the forecast period supported by growing demand from end use industries in emerging economies.
Key players
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:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
