Paper cones are widely used as containers and wrappers for various food products such as ice cream, popcorn and many snacks. They offer excellent quality, hygiene and environmental benefits over plastic containers. Paper cones provide better thermal insulation compared to plastic or foil wraps, helping food and beverages retain their temperature for a longer duration. They are customizable, lightweight and available in various sizes, shapes and styles to meet packaging requirements of different food items.

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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The paper cone market is estimated to witness high growth owing to increasing demand for ice cream and other food products packaged in paper cones. According to data, global ice cream sales have grown by over 5% annually in recent years to reach US$75 billion. Paper cones are the preferred choice of packaging for ice cream bars, cups and sticks sold at retail outlets as well as by foodservice providers. Their grease resistance and printability allows branding and promotion of ice cream products through paper cones. Growth in fast food chains selling cone packaged snacks and rise of impulse purchases at retail outlets is further driving uptake of paper cones in the food industry. Rising health and environmental concerns regarding plastic usage is promoting shift towards more sustainable paper-based packaging solutions like paper cones

SWOT Analysis

Strength: Paper cone has high demand in the packaging industry as it is cost effective and provides effective protection. The material is recyclable which makes it an eco-friendly option. The cones are lightweight and require less resources to manufacture and transport compared to other packaging materials.

Weakness: Paper cone degrades quickly when exposed to moisture. It cannot withstand extreme temperatures and harsh packaging conditions. Paper cone is less durable compared to plastic packaging materials. Its properties limit usage only to certain industries and applications.

Opportunity: Increasing focus on sustainable packaging provides growth opportunities for paper cones. More companies are shifting towards eco-friendly packaging to meet sustainability goals. Rising demand from tobacco, food and other industries can boost the paper cone market. Innovation in paper cone design and coating can improve product lifespan.

Threats: Stringent regulations regarding tobacco products packaging pose threats. Also, availability of alternative materials like plastic and hybrid packaging solutions act as substitutes. Volatility in raw material prices and economic downturns impact the market.

Key Takeaways

The global Paper Cone Market Size is expected to witness high growth over the forecast period supported by rising demand for sustainable packaging solutions. The market size is projected to reach US$ 8.05 Billion by 2023 from US$ 5.21 Billion in 2018, registering a CAGR of 7.3% during 2023-2030.

Regional analysis: Asia Pacific currently dominates the global market and is expected to maintain its lead position over the forecast period. This is attributed to high production and consumption of paper cones in the region, especially in India, China, Indonesia and Japan. The Asia Pacific paper cone market is anticipated to grow at over 8% CAGR between 2023-2030.

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.

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