PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1792753
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1792753
Global Wafer Cones Market to Reach US$3.5 Billion by 2030
The global market for Wafer Cones estimated at US$3.0 Billion in the year 2024, is expected to reach US$3.5 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2024-2030. Waffle Cone Type, one of the segments analyzed in the report, is expected to record a 2.5% CAGR and reach US$2.0 Billion by the end of the analysis period. Growth in the Sugar Cone Type segment is estimated at 3.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$810.9 Million While China is Forecast to Grow at 5.1% CAGR
The Wafer Cones market in the U.S. is estimated at US$810.9 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$675.6 Million by the year 2030 trailing a CAGR of 5.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.
Global Wafer Cones Market - Key Trends & Drivers Summarized
Why Are Wafer Cones Remaining a Popular Choice in the Ice Cream and Dessert Industry?
Wafer cones continue to be a staple in the global ice cream and dessert industry due to their universal appeal, practicality, and ability to enhance the overall eating experience. Unlike cups or bowls, wafer cones offer the unique advantage of being edible, eliminating the need for disposable utensils and aligning with sustainability goals that are increasingly influencing consumer decisions. Their crisp texture and subtly sweet flavor complement a wide variety of ice cream types and toppings, making them a versatile choice for food service providers and manufacturers alike. In addition, wafer cones cater to all age groups, particularly children and families, who often associate them with enjoyment, nostalgia, and seasonal traditions like summer outings and festivals. The visual appeal of a well-presented ice cream cone also contributes significantly to social media-driven food trends, where presentation matters as much as taste. For retailers, wafer cones offer operational efficiency through portion control and ease of packaging, transportation, and serving. The product’s long shelf life and ambient storage requirements further make it an attractive option in both modern retail and traditional settings. Wafer cones are also seeing rising popularity in emerging markets, where increasing disposable income and growing interest in Western-style desserts are driving new consumer demand. These attributes make wafer cones not just a functional container but a key component of the ice cream experience, ensuring their continued relevance across diverse markets and demographics.
What Product Innovations Are Shaping the Future of Wafer Cones in Competitive Markets?
Product innovation is playing a major role in keeping wafer cones relevant and competitive in a market where consumer preferences are rapidly evolving. Manufacturers are now exploring diverse formulations to cater to dietary needs and lifestyle choices, such as gluten-free, vegan, and low-sugar cones that appeal to health-conscious consumers. Innovations in flavor are also transforming the standard wafer cone into a more exciting and integral part of the dessert, with options like chocolate-dipped, caramel-infused, matcha-flavored, and fruit-flavored varieties gaining traction. Structural improvements, including reinforced cone tips and layered designs, are helping to reduce leakage and extend crispness, addressing common consumer pain points. Customizable shapes and branding options are enabling businesses to differentiate themselves by offering uniquely designed cones that enhance brand recognition and consumer loyalty. Packaging technology is also advancing, with resealable, moisture-resistant materials being used to extend product freshness and reduce breakage during transport. Additionally, production processes are becoming more efficient with the use of automated baking and molding systems that allow for high-volume output without compromising quality. Sustainability remains a key area of focus, with some manufacturers experimenting with biodegradable wrappers and eco-friendly production techniques that reduce water and energy usage. These innovations not only cater to changing consumer expectations but also allow brands to expand into new channels such as gourmet dessert cafes, food trucks, and premium retail. Collectively, these developments are transforming wafer cones from a standard commodity into a dynamic and customizable product that adapts to modern tastes and market trends.
Why Are Foodservice and Retail Channels Expanding Their Use of Wafer Cones?
Foodservice providers and retail outlets are increasingly expanding their use of wafer cones due to their growing appeal among consumers seeking convenience, experience, and novelty in their dessert choices. In quick-service restaurants and ice cream parlors, wafer cones serve as an efficient and visually appealing vessel that allows staff to serve customers quickly without the need for additional packaging or utensils. This supports faster turnover, reduced waste, and enhanced operational efficiency, particularly during high-demand seasons. Buffet-style dessert counters and mobile vendors also favor wafer cones for their portability and low mess factor, making them ideal for outdoor events and on-the-go consumption. In the retail sector, supermarkets and convenience stores are stocking a wider array of pre-filled and ready-to-eat ice cream cones, capitalizing on the growing trend of indulgent snacks and single-serve treats. These products offer consumers the convenience of enjoying a high-quality dessert at home without any preparation. Wafer cones are also being paired with new dessert formats like frozen yogurt, soft serve, and plant-based ice creams, expanding their relevance beyond traditional ice cream offerings. Private label and co-branded cone products are gaining traction in retail as brands seek to attract niche audiences and increase shelf visibility. Seasonal promotions, limited-edition flavors, and attractive packaging designs are further boosting sales, especially during summer months and holiday seasons. As dessert consumption becomes increasingly experience-driven, wafer cones are playing a more prominent role in both foodservice and retail strategies aimed at satisfying modern consumer preferences for taste, convenience, and sensory appeal.
What Market Forces and Consumer Trends Are Driving Growth in the Wafer Cones Sector?
The growth in the wafer cones market is being driven by a confluence of factors including shifting consumer behavior, economic development, and evolving product distribution strategies. One of the most influential trends is the global rise in ice cream consumption, particularly in emerging markets where rising income levels and changing dietary habits are expanding the consumer base. Urbanization and the growth of convenience-driven lifestyles are increasing demand for ready-to-eat desserts, of which wafer cones are a central component. Social media and visual platforms are also playing a significant role in popularizing creative and aesthetically pleasing dessert presentations, often featuring colorful, decorated wafer cones that appeal to younger consumers. Health and wellness trends are encouraging brands to innovate with cleaner labels, natural ingredients, and better-for-you formulations that still deliver the indulgent experience associated with ice cream cones. Expansion of cold chain infrastructure and improvements in distribution networks are enabling broader availability of cone products in rural and remote areas, further driving market penetration. Collaborations between cone manufacturers and large ice cream brands are resulting in co-branded offerings that attract attention on retail shelves and in advertising campaigns. The food tourism boom and interest in artisanal desserts are also supporting small-batch and gourmet cone varieties, adding a premium tier to the traditional cone market. Furthermore, cost-effective production methods and scalability are making wafer cones a profitable item for foodservice operators seeking to optimize margins without compromising on consumer appeal. These market forces, combined with a steady stream of product and marketing innovation, are ensuring the continued expansion of the wafer cones sector across global regions and consumer categories.
SCOPE OF STUDY:
The report analyzes the Wafer Cones market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Waffle Cone Type, Sugar Cone Type, Cake Cone Type); Flavor Type (Flavored, Vanilla, Strawberry, Butterscotch, Chocolate, Unflavored / Plain, Other Flavor Types); Category (Dairy Based Category, Vegan Category); Distribution Channel (Supermarkets / Hypermarkets, Specialty Stores, Convenience Stores, Online Distribution Channel, Other Distribution Channels); End-Use (Residential End-Use, Commercial End-Use, Hotels End-Use, Restaurants End-Use, Cafes End-Use, Parlor End-Use)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 42 Featured) -
AI INTEGRATIONS
We're transforming market and competitive intelligence with validated expert content and AI tools.
Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.