Paper Cone Market Is Estimated To Witness High Growth Owing To Rising Demand From Food And Beverage Industry
Paper Cone Market Is Estimated To Witness High Growth Owing To Rising Demand From Food And Beverage Industry
The Paper Cone market is estimated to be valued at US$ 8.05 Bn or Mn 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.

Paper Cone Market Is Estimated To Witness High Growth Owing To Rising Demand From Food And Beverage Industry

Market Overview:
Paper cones are used for packaging, food stuffs, and other industrial applications. Paper cones are extensively used for wrapping food items like chips, sweets and nuts. They are also used in textile, consumer goods and other industries for holding rolls. Paper cones provide advantages like low cost, eco-friendliness and recyclability over plastic cones.

Market Dynamics:
The growth of Paper Cone Market Demand is driven by rising demand from food and beverage industry. Paper cones are increasingly preferred over plastic cones for packaging snacks, sweets and other food items due to sustainable nature of paper. Growing health awareness and stringent regulations against plastics have further augmented the demand for paper cones from food industry. Another key driver is growth in textile industry. Paper cones are majorly used for holding rolls of fabrics, threads and yarns in textile industry. Rapid industrialization in developing economies have propelled the demand for textiles which in turn boost the consumption of paper cones.

SWOT Analysis

Strength:
- Paper cones provide inexpensive and renewable packaging solution.
- Paper cones are easily customizable based on end-use packaging requirements.
- These cones offer high load-bearing strength and resist breakage during transportation.

Weakness:
- Risk of damage from moisture due to paper material used in cones.
- Paper cones have less durability as compared to plastic alternatives.

Opportunity:
- Increasing adoption of paper cones from food packaging industry due to rise in popularity of sustainable packaging materials.
- Growth in e-commerce industry has augmented the demand for paper cones in shipping and logistics applications.

Threats:
- Availability of plastic substitutes like molded pulp cones offers strong competition to paper cones.
- Volatility in prices of raw materials required for paper cone manufacturing increases production costs.

Key Takeaways

The global paper cone market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing demand for sustainable packaging from food industry.

Regional analysis
Asia Pacific dominates the global paper cone market with over 35% share in 2023, attributed to burgeoning packaging sector across China and India. Rising consumption of ready-to-eat food along with increased online shopping activities has been fueling the market growth in the region.

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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https://www.marketwebjournal.com/the-paper-cone-market-contributing-large-share/

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