The paper cone cup market is anticipated to reach a value of US$ 2.2 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 4.75% leading it to US$ 3.5 billion by the end of the 2022-2032 forecast period. This growth is attributed to the widespread global utilization of paper cone cups in the packaging industry. These cups, featuring a paper composition with plastic or wax coatings to prevent leakage, have gained popularity due to their durability and sustainability. The tightly rolled rims of these cups maintain their structure, rendering them suitable for vending machines and branding with multi-color images.
The North American region, especially the US, dominates the paper cone cup market due to the presence of well-established food chains. High demand for these cups is anticipated from institutions like malls, theaters, and recreational parks. As a response to environmental concerns, the region has been shifting from non-biodegradable plastic to paper cone cups, driven by consumer awareness of health and hygiene. The North American paper cone cup market is projected to grow at a CAGR of 3%, reflecting these trends.
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By 2032, the paper cone cup market is expected to reach new heights due to a surge in their adoption for packaging food products. Consumer concern about waste generation and rising awareness of environmentally friendly materials will drive an increase in demand for these cups. Moreover, heightened environmental consciousness combined with consumers’ willingness to pursue eco-friendly options are likely encouraging greater utilization of paper cone cups worldwide during this period.
“Heightened demands from malls, theaters, recreational parks, and other similar institutions stimulate the global growth of the paper cone cups market over the forecast period,” says an FMI analyst.
Key Takeaways:
• Stringent environmental regulations and demand for conventional paper cups may limit the growth of the paper cone cup market.
• Demand for eco-friendly packaging materials may strengthen market prospects for paper cone cups during the assessment period.
• The paper cone cups market in North America is estimated to register a CAGR of 3% during the forecast period.
• Europe’s paper cone cups market will register a high growth rate owing to a large-scale ban on the use of single-use plastic.
Competitive Landscape
Shield Emballeurs, AXIS VERSATILE SDN.BHD, ebul Packaging Pty Ltd, LONGYOUXIAN JINlONG PAPER CO., LTD., Kaily Packaging Pte Ltd, Tri Wall Pak. Pvt. Ltd and FORLIT, A.S., among others are some of the major players in the paper cone cups market profiled in the full version of the report.
Owing to the presence of a huge amount of market participants, the paper cone cup market is highly competitive. International players like DS Smith and Smurfit Kappa Group are accountable for a considerable portion of the market. Many market participants are, thus, focusing on strategic mergers, acquisitions, partnerships, and collaborations to strengthen their market position.
More Insights into Paper Cone Cups Market
According to the latest FMI reports, based on segmentation, the institutional and theater, and mall applications are anticipated to generate high demand for the overall paper cone cups market.
Based on region, the paper cone cups market in North America is expected to demonstrate impressive growth during 2022-2032. The target market in this region is likely to record a CAGR of 3% owing to the rising environmental concerns. The expanding fast-food chains, particularly in the United States, a rise in the number of vending machines, and safety and hygiene issues associated with the use of plastic cups further promote the growth of the paper cone cups market during the forecast period.
Worldwide concern for the environment, the rapid development of cafes and fast-food chains, and elements of hygiene bolster the growth of the paper cone cups market during the projection period.
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Key Segments Profiled in the Paper Cone Cup Industry Survey
Product:
- Rolled Paper Cone Cup Rims
- Straight Paper Cone Cup Rims
- Funnel Paper Cone Cups
Capacity:
- 4 Oz Paper Cone Cups
- 4.5 Oz Paper Cone Cups
- 5 Oz Paper Cone Cups
Application:
- Paper Cone Cups for Foodservice Outlets
- Paper Cone Cups for Quick Service Restaurants
- Paper Cone Cups for Cafes
- Paper Cone Cups for Institutional Applications
- Paper Cone Cups for Offices
- Paper Cone Cups for Households
- Paper Cone Cups for Theaters and Malls
Distribution Channel:
- Paper Cone Cups Sales via Offline Channels
- Hypermarkets
- Supermarkets
- Convenience Stores
- Others
- Paper Cone Cups Sales via Online Channels
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