Paper cones are extensively used in the packaging industry for winding films, foils, papers, and tapes. They provide excellent strength, are cost-effective, and are biodegradable. Paper cones help in smooth and organized winding and unwinding of packaging materials. They are replacing plastic and aluminum cones due to stringent environmental regulations on single-use plastics. The global paper cone market is estimated to be valued at US$ 9.28 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The expansion of the packaging industry has been a key growth driver for the paper cone market. The demand for paper cones has increased significantly from the food and beverage industry in particular, as they are used extensively for packaging snacks, biscuits, and noodles. Furthermore, regulations in many countries mandate the use of paper or biodegradable materials for food packaging, increasing the replacement of plastic packaging materials with paper. The growth of the e-commerce industry has also fueled the need for effective packaging solutions, augmenting the sales of paper cones. Various technologies are being adopted by paper cone manufacturers to improve production capacity and meet the growing demands from end-use industries. However, fluctuations in raw material prices remain a key challenge.
Segment Analysis
The Global Paper Cone Market Analysis is dominated by the ice cream cone sub-segment. This is because ice cream cones account for the largest share of paper cone consumption due to its ability to hold frozen desserts without melting and leaking. It provides an affordable and environment friendly packaging solution for ice creams.
Key Takeaways
The global paper cone market is expected to witness high growth driven by the increasing demand for frozen desserts across regions.
Regional analysis: North America region currently dominates the paper cone market holding around 30% share due to the high ice cream consumption in countries like the US. Asia Pacific region is expected to witness fastest growth in the forecast period owing to rising middle class population and disposable incomes in countries like India and China boosting the demand for ice cream and other frozen products packaged in paper cones.
Key players operating in the paper cone market are Afterpay, Holdings Inc., Klarna Bank AB, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd.), PayPal Holdings Inc., Perpay, Quadpay, Sezzl, Splitit. Among these, Afterpay and Klarna hold significant shares in the market due to their wide acceptance and easy repayment plans attracting large consumer bases globally.
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The Cone Crushers Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cone crushers market include WESTPRO, Telsmith, Terex, Global Mining Crusher, Metso and Sandvik.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cone Crushers Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cone-crushers-market/download-sampleMarket DynamicsThe demand for cone crushers is rising globally with the growth of industries such as mining, aggregate, demolition, industrial, construction, and others.
In Asia Pacific region, rising mining activities and rapid expansion of the construction industry are likely to propel the demand.
However, with high investment cost and operational cost linked up with the cone crusher, many companies are opting for rent services as per requirement which may act as a restraint for the market growth.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
