PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392082
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392082
Global Paper Cone Market is expected to reach US$ 13.18 Bn by 2030, from US$ 8.05 Bn in 2023, exhibiting a CAGR of 7.3% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 8.05 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 7.30% | 2030 Value Projection: | US$ 13.18 Bn |
Paper cones are widely used for packaging and transportation purposes, as these provide a convenient and eco-friendly solution. These cones are made from high-quality paper materials that ensure durability and strength. Paper cones are commonly used for a variety of products, including food items like popcorn, ice cream, and french fries, as well as non-food items like yarn, thread, and other small items. These are also used in industrial settings for packaging and transporting materials like powders, granules, and liquids.
One of the main advantages of using paper cones is their eco-friendliness. Unlike plastic or other non-biodegradable materials, paper cones can be easily recycled or composted, and thus, reducing their impact on the environment. Paper cones are lightweight and easy to transport, and thus, making these a cost-effective and efficient packaging solution.
Global paper cone market is witnessing significant growth due to increasing demand from various industries such as textile, food and beverage, and construction. The market growth is driven by growing awareness about sustainable packaging solutions and rising demand for paper cones in the textile industry. Paper cones are extensively used in the textile industry for winding yarns and threads. These offer advantages such as easy handling, cost-effectiveness, and recyclability that makes them a preferred choice among textile manufacturers. Furthermore, the food and beverage industry is also contributing to the growth of the global paper cone market. Paper cones are used for packaging various food items such as ice creams, snacks, and beverages. Increasing preference for eco-friendly packaging solutions, and rising demand for on-the-go food products boosts demand for paper cones in food industry.
However, the market faces certain challenges such as the availability of alternative packaging solutions and the fluctuating prices of raw materials. COVID-19 pandemic has also impacted the market, leading to supply chain disruptions and reduced demand from end-use industries.