North America maintains its lead in the paper cone cup market, driven by the proliferation of fast-food chains, growing popularity of portion control, and the rise in vending machines. Environmental concerns and a shift away from non-biodegradable plastic cups to eco-friendly paper ones have fueled sales. Additionally, heightened consumer health awareness promotes the use of hygienic, reusable paper cone cups, with a projected 3% CAGR for the industry in North America.
The Gloabl 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 paper cone cup market is poised for substantial growth, driven by several key factors. Firstly, paper cone cups are preferred for their ease of use, hygiene, safety, and cost-effectiveness, making them suitable for modern lifestyles. Additionally, the proliferation of coffee chains like Starbucks, Costa Coffee, and Café Coffee Day worldwide has contributed to the market’s expansion, as these establishments widely utilize paper cone cups.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-10591
Furthermore, there is a rising demand for short-run custom printed cups, primarily by standalone coffee and ice cream shops seeking quick deliveries in larger volumes. This trend is expected to further boost the paper cone cup market.
The market’s growth is also influenced by increasing urbanization rates and a growing global population, which has led to a rise in the number of vending machines and water coolers, driving the demand for paper cone cups.
Moreover, the growing adoption of paper cone cups for packaging various food products, coupled with increasing environmental concerns and a heightened awareness of eco-friendly packaging, is positively impacting the market. As the world becomes more conscious of waste generation and the need for sustainable packaging, the paper cone cup market is likely to thrive in the coming years.
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.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-10591
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 the 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.
Buy Report Now: https://www.futuremarketinsights.com/checkout/10591
Key Segments
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
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
