Paper Cone Cup Market: Overview
Paper cone cups are single-use, disposable cups made of paper and coated with plastic or wax to avoid the leaking or soaking of liquid. Single-use disposable paper cone cups are gaining popularity, owing to their durable and sustainable nature. The tightly rolled rims help in retaining the structural integrity of paper cone cups, which makes them suitable for usage at vending machines. Also, these cups can be printed with multi-color graphics to add branding information on them. Thus, cup manufacturers are eyeing this opportunity and providing the flexographic printing technique to give a custom look to their paper cone cups; this enables brand owners to use them as a cost-effective marketing tool. In addition to this, engraving is also observed as a common practice, especially for tier 1 companies in the paper cone cup market. The use of these techniques increases consumer engagement, which makes them stand out in the competitive market.
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Paper Cone Cup Market: Dynamics
The footfall in public places, such as bus stops, airports, railways, etc., has been growing at a steady pace. This increase can be attributed to various factors, such as growth in migration rates, and increasing urban population, which has resulted in an increased number of vending machines, water coolers, etc. Paper cone cups modernize and enhance customer experience, and aid in portion control to an extent. This is expected to play a crucial role in the growth of the global paper cone cup market. Moreover, high demand generated from institutions such as theatres & malls and other recreational parks will continue to create substantial demand for paper cone cups. Thus, the paper cone cup market is expected to benefit owing to growth in the number of vending machines in places with high footfall.
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However, for most applications, paper cone cups can be replaced with conventional paper cups. In the global disposable cups market, conventional paper cups lead the chart, and are expected to continue to lead during the forecast period. Paper cone cups might gain ground due to their user-friendly attributes, as beverages dispensed from water coolers and other containers are easy to drink from paper cone cups.
Paper Cone Cup Market: Regional Outlook
Geographical analysis of the paper cone cup market reveals that, the developed markets of North America and Europe are expected to drive the demand for paper cone cups in the coming years. This demand can be attributed to the presence of fast-food chains and rising popularity of portion-controlled intakes in the U.S. A similar trend has been witnessed in European countries such as France, Germany, and the U.K. Increasing footfall has led to significant growth in the number of vending machines, and this is expected to fuel the demand for paper cone cups in the region. Asian countries have a relatively lower penetration of paper cone cups, which is likely to increase during the period of forecast. Thus, Asia Pacific represents remunerative growth potential for the global paper cone cup market.
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Paper Cone Cup Market: Key Players
Some of the key players operating in the global paper cone cup market are Huhtamaki Oyj., Konie Cups International, Inc., Genpak LLC, ConverPack, Geogia Pacific LLC, Dart Container Corporation and more.