July 23, 2024
Paper Cone Market

The utilization of paper cones anticipated to boost packaging efficiency and effectiveness is gaining traction in the paper cone market

Market Overview:

Paper cones are predominantly used in packaging applications such as winding films, foils, papers, textiles etc. Paper cones provide packaging solutions for efficient handling and transportation of a variety of products across industries like textiles, food, beverages, pharmaceutical etc. Paper cones are cost effective, recyclable and helps protect contents from moisture, dust and mechanical damage during shipping and warehousing.

Market Dynamics:

Increasing demand for sustainable and eco-friendly packaging solutions is a key driver boosting growth of the paper cone market. Paper cones are biodegradable and avoid use of plastic thereby reducing environmental footprint. In addition, growing focus on efficient logistics has increased deployment of paper cones for product handling across warehouses and distribution centers. For example, paper cones allow easy stacking and transportation of wound materials in an organized manner that helps optimize space utilization during shipping. Furthermore, steady growth of end use industries such as food and beverages, textiles etc that heavily rely on conical packaging is anticipated to augment market expansion over the forecast period.

Segment Analysis

The global Paper Cone Market Demand is segmented on the basis of product types and applications. Based on product types, the paper cone market is segmented into tight cone and spiral coils. The tight cone segment dominates the market due to its advantage of stability and support during packaging and stacking. It also prevents damage during shipping and distribution.

PEST Analysis

Political: Government regulations regarding packaging standards and material recycling impact the market growth. Economic: Growing e-commerce sector and retail industry drives the demand for paper cones for packaging various products. Social: Rising awareness about environmental hazards of plastics boosts the adoption of paper cones as sustainable packaging solution. Technological: Automation in paper cone manufacturing increases production capacity and reduces costs.

Key Takeaways

The global paper cone market size was valued at US$ 8.05 Bn in 2023 and is expected to reach US$ 13.78 Bn by 2030, expanding at a compound annual growth rate (CAGR) of 7.3% during the forecast period. Growth in the e-commerce and retail industry coupled with increasing preference for sustainable packaging solutions is fueling the market expansion.

The Asia Pacific region dominated the global market in 2023 with a share of over 35%, owing to strong presence of paper cone manufacturers in China and India. Rapid industrialization and expanding end-use industries in the region will continue to drive the regional market over the next few years.

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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Note:

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