Paper cones are single-piece paper constructions typically used for winding and unwinding paper, plastic films, foil, textiles and other packaging materials. Their core function is to serve as bobbins and spools to deliver films, foils and papers smoothly without tearing or jamming. The global paper cone market is estimated to be valued at US$ 8.05 Billion in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the paper cone market is the increasing demand for paper packaging from various end-use industries such as food, beverages, personal care, and homecare. Paper cones effectively wind films and foils for packaging various products across these industries. They provide excellent strength and durability for winding films without damage. Moreover, paper cones are eco-friendly as they are made from recyclable materials. The growing focus on sustainable packaging has accelerated the replacement of plastic spools and cones with paper-based alternatives in recent years. This increasing preference for paper packaging over plastics is expected to significantly augment the demand for paper cones over the forecast period.
SWOT Analysis
Strength: Global Paper Cone Market Size have high stiffness and strength which helps protect products during transportation and storage. They are cost effective and recyclable.
Weakness: Paper cones have lower moisture barrier properties than alternative packaging solutions such as plastic or foil. They require more material than some other solutions.
Opportunity: Growing use of paper cones for ice cream, popcorn, and sweets offers an opportunity as consumption of frozen desserts and snacks increases. Rising concerns about plastic waste also supports use of paper packaging solutions.
Threats: Stricter environmental policies boosting adoption of reusable or compostable packaging pose a threat. Economic slowdowns could limit expenditures on premium and indulgence foods packaged in paper cones.
Key Takeaways
The global paper cone market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Asia Pacific region currently accounts for the largest share of the global paper cone market and is expected to continue dominating due to high production and consumption in countries such as China, India, and Japan. Growth in Asia Pacific is supported by rising disposable incomes, expanding retail sector, and increasing demand for packaged confectionery, bakery, and dairy products in the region.
Key players operating in the paper cone market include Afterpay, Holdings Inc., Klarna Bank AB, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd.), PayPal Holdings Inc., Perpay, Quadpay, Sezzl, Splitit. The market is consolidated in nature with top players accounting for majority market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
