July 23, 2024

Paper Cone Market Propelled By Increasing Demand From Packaging Sector

Paper cones are widely used for the packaging of various consumer products ranging from ice cream cones, baking products, and wafers. Paper cones are lightweight, affordable, sustainable, and biodegradable, making them an ideal packaging solution. Paper cones provide effective protection and maintain freshness of products during transportation and storage. The global Paper Cone Market is estimated to be valued at US$ 9.28 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing packaging sector has been propelling the demand for paper cones in the recent years. Packaging plays a vital role in brand building and marketing of products. Manufacturers are focusing on innovative and attractive packaging solutions to enhance customer appeal and brand differentiation. Paper cones provide an economical and environment-friendly packaging solution. They are suitable for primary as well as secondary packaging of various products. Rising focus on sustainable packaging along with the increase in sales of food and beverages, cosmetics, and pharmaceutical products has been fueling the adoption of paper cones significantly. Paper cone manufacturers have been investing in new machinery to cater to the growing packaging demand.

SWOT Analysis
: Paper cones provide excellent strength and durable packaging solution for various industrial applications. They help preserve the packaged product well during transit or storage.

Weakness: Paper cones can get damaged easily if not handled with care. They also have lower barrier properties compared to plastic packaging.

Opportunity: Growing demand from paper and packaging industries as well as food and beverage sectors presents significant growth opportunities. Rise in online retail is also fueling the need for sturdy parcel and postal packaging.

Threats: Substitution threat from flexible plastic packaging and pouches. Strict environmental regulations around the world regarding usage of plastics and paper could also impact the market negatively.

Key Takeaways
The Global Paper Cone Market Demand is expected to witness high over the forecast period of 2024 to 2031. The market size is projected to reach US$ 9.28 Billion in 2024 and forecast to surpass US$ 16 Billion by 2031, registering a CAGR of around 8.2% during the period.

Regional analysis indicates Asia Pacific is currently the largest as well as fastest growing regional market for paper cones. Abundant availability of raw materials as well as presence of major packaging converter industries in countries like China, India, Japan, etc. is driving the growth. North America and Europe are other major regions dominating the global market share currently.

Key players operating in the paper cone market are Afterpay, Holdings Inc., Klarna Bank AB, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd.), PayPal Holdings Inc., Perpay, Quadpay, Sezzl, Splitit. These companies are focusing on new product launches, collaborations and expanding their footprints across high potential regions to strengthen market position.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it