Paper cones are commonly used for packaging applications in the food and beverage industry, mainly for baked goods and confectionaries like ice creams, cupcakes, pastries, and others. They provide excellent moisture barrier and enhances the shelf life of products while also adding an aesthetic appeal. Cones made of paper are recyclable in nature and offers a sustainable packaging solution as compared to plastics.

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 key trends:
The growth of the paper cone market is majorly driven by rising demand for ice cream and various baked goods where paper cones are increasingly being used for packaging. According to research, the global ice cream market witnessed a growth rate of around 4.5% during 2018-2020 and is expected to further rise in the coming years. This rising demand for ice creams directly influences the consumption of paper cones used to package them. Furthermore, changing consumer preferences towards eco-friendly packaging are fuelling the need for paper cones among manufacturers. Their recyclable nature makes them favored over plastic or polystyrene cones. This growing inclination towards sustainable options is anticipated to propel the paper cone market expansion over the forecast period.
 

Segment Analysis
The global paper cone market is dominated by the ice cream segment, accounting for over 35% share in 2023. Paper cones are the preferred choice for packaging and serving ice cream and other frozen desserts as they impart excellent printability and ensure minimum heat transfer from hands. The ice cream segment is expected to continue its lead through 2030 on account of rising consumption of frozen desserts across regions. The fireworks segment occupies the second position and will witness high demand for paper cones due to increasing number of festivals worldwide.

Key Takeaways

The global Paper Cone Market Size is expected to witness high growth over the forecast period. Rising incomes and expanding frozen dessert industry across developing regions will drive the market.

Regional analysis
The Asia Pacific region held the largest share of over 40% in the global paper cone market in 2023. China accounted for more than half of the region's demand due to strong local manufacturing and consumption. South and Southeast Asian countries are fastest growing markets due to increasing disposable incomes and western influence on food habits. North America and Europe are established yet sizable markets whereas growth in Latin America and Middle East & Africa will be guided by economic development.

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. Key players are focusing on expansions and new product launches to meet the growing demand and consolidate their position.

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