The paper cone market is primarily used for packaging food items like ice cream cones. Made from paper and cardboard, paper cones provide excellent breathability and insulation properties to packaged food items. They prevent moisture or oils from being transferred to or from the contained food product while also being lightweight and compact for storage and transportation. Paper cones are increasingly being adopted by ice cream, frozen dessert, nuts, snacks and other food manufacturers due to their moisture resistance, cost-effectiveness and sustainability.
The Global Paper Cone Market is estimated to be valued at US$ 8.64 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.
Key Takeaways
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
Paper Cone Market Demand for packaged and frozen foods from the expanding working population is propelling the market. Paper cones provide breathability and prevent moisture seepage, making them suitable for packaging various edible items. Technological advancements like customized paper cone sizes, shapes, printing and coating are augmenting their usage in the food industry.
Market Trends
Increasing health-consciousness and preference for natural ingredients is driving demand for frozen yogurt and novel ice cream flavors packaged in paper cones. Major ice cream and frozen dessert brands are opting for paper cones over sugar or wafer cones owing to their sustainable nature. Another key trend is the customization of paper cone sizes, shapes and printing for enhancing branding visibility and attracting different consumer segments.
Market Opportunities
Rising snacking trends and on-the-go eating habits provide considerable growth potential for mini and bite-sized paper cones for packaging nuts, seeds and snacks. Paper cone manufacturers can also explore co-packing opportunities with food brands and private labels. Additionally,Paper cones made from recycled or agricultural waste paper can garner more customers among eco-conscious consumers.
Impact of COVID-19 on Paper Cone Market Growth
The Paper Cone Companies in COVID-19 pandemic has severely impacted the growth of the paper cone market in 2020. In the initial months of the pandemic, manufacturing activities were halted due to lockdowns imposed across various countries. This led to disruptions in the supply chain and a significant decline in production volumes. Demand from end-use industries such as food and beverages also reduced drastically as their operations were suspended during lockdowns. Many companies faced financial troubles and had to scale down or even shut down their operations temporarily.
However, with easing of lockdown restrictions and resumption of economic activities from mid-2020, the market is witnessing a gradual revival. The demand from food packaging applications is increasing steadily as food processing companies are focusing on innovative packaging solutions for home delivery and takeaway orders. Various governments and healthcare agencies are also emphasizing on proper hygiene and prevention of infections. This is boosting the usage of paper cones in pharmaceutical and medical applications as cones provide effective packing and dust-free storage of medicines, pills and ointments.
Going forward, the market is expected to gather strong momentum owing to accelerated rates of vaccination rollout and normalization of supply chains. Companies are embracing digital technologies and automation to make production processes more efficient. They are also optimizing product offerings to address the evolving needs of consumers in the new normal. Strategic partnerships and expansion into new geographic territories will play a key role in future growth.
Geographical regions with high concentration of paper cone market:
Asia Pacific accounts for the largest share of the global paper cone market volume in terms of sales. Led by countries like India, China and Japan, the Asia Pacific region has a huge paper cone manufacturing industry catering to diverse end-use segments. This is attributed to factors like low cost of production, availability of skilled labor and proximity to demand centers in Southeast Asian nations. The demand is driven by widespread usage of paper cones in pharmaceutical, food and beverage packaging applications.
Fastest growing region in the paper cone market:
North America is expected to fastest growing regional market during the forecast period. Growing health awareness among consumers is fueling the demand for innovative pharmaceutical packaging. Moreover, strong economic growth and increased consumer spending on packaged and processed foods are favoring market expansion in the USA and copyright. Major players are strengthening their distribution channels and promotional efforts in this high potential region to gain higher revenue shares.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)