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The popcorn market size is forecast to increase by USD 4.92 billion at a CAGR of 10.87% between 2023 and 2028. The market is experiencing significant growth due to several key trends and drivers. The increasing demand for healthy snacks is a major factor fueling market growth, as popcorn is considered a healthier alternative to other processed snacks. Additionally, the growth of online retailing is providing a boost to the market, as consumers increasingly turn to e-commerce platforms for convenience and variety. However, the market is also facing challenges, including fluctuating prices of corn, which can impact the cost of production and profitability for manufacturers. Overall, the market is expected to continue growing, driven by these trends and the enduring popularity of this versatile and delicious snack.
Popcorn, a beloved staple in the food and beverage industry, continues to thrive as a popular choice for ready-to-eat snacks. The market for popcorn is vast, with various flavors catering to diverse consumer preferences. Plant-based proteins are increasingly being incorporated into popcorn production, making it an attractive option for health-conscious consumers. Sea salt flavor remains a fan favorite, but innovative popcorn companies are experimenting with a wide range of flavors to keep consumers engaged. Online platforms have revolutionized the way popcorn is sold and consumed. E-commerce and online retail have made it easier for consumers to purchase popcorn from shopping apps and websites.
Further, microwave popcorn, a convenient instant food, is a significant contributor to the market's growth. Popcorn is also rich in essential vitamins and minerals such as folate, niacin, riboflavin, thiamin, pantothenic acid, vitamin B6, iron, calcium, copper, and magnesium. These nutrients add to the appeal of popcorn as a healthy snack option. Theatres and multiplexes continue to serve popcorn, further boosting the market's growth. Corn kernels, vegetable oil, and butter are the primary ingredients in popcorn production, with proteins added to enhance its nutritional value.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The ready-to-eat segment is estimated to witness significant growth during the forecast period. The global market is witnessing significant growth due to the increasing demand for convenience food, particularly among the young population. This trend is driving innovation in the snacking industry, with an emphasis on gourmet popcorn made from whole grain corn kernels and infused with all-natural flavors. Manganese, phosphorus, potassium, zinc, and other essential nutrients are naturally present in popcorn, making it a healthy snack option. Clean-label ingredients and ingredient transparency are key factors influencing consumer preferences. Unpopped popcorn and Ready-to-Eat (RTE) popcorn are popular choices due to their convenience. The market is witnessing an upwave in seasonal flavors such as Tandoori, Tiramisu, Cheese, Caramel, and Classic Salted.
The use of vegetable oil and butter in popcorn production adds proteins, antioxidants, fiber, and Vitamin B complex. The snacking industry is witnessing a shift towards Instant food and Ready-to-eat food, with popcorn being a significant contributor. Multiplexes, convenience stores, and online retail stores are major distribution channels. Caramel candies and other additives are used in limited quantities to enhance the taste and texture of popcorn. Health awareness is another key factor driving the market growth.
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The ready-to-eat segment was valued at USD 4.05 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The global market is witnessing significant growth due to the increasing demand for convenience food, particularly among the young population. This market caters to various consumer preferences, including gourmet popcorn made with all-natural flavors and clean-label ingredients. Whole grain popcorn, rich in essential minerals such as manganese, phosphorus, potassium, and zinc, is a popular choice. Manufacturers are focusing on innovation, introducing seasonal flavors like Tandoori, Tiramisu, Cheese, Caramel, and Classic Salted. The use of vegetable oil and butter in popcorn production provides proteins, antioxidants, fiber, and vitamin B complex. However, the addition of additives and caramel candies may raise concerns regarding ingredient transparency.
The snacking industry's shift towards instant food and ready-to-eat (RTE) popcorn in multiplexes, convenience stores, and online retail outlets is driving market growth. Health awareness is another significant factor influencing consumer behavior, with many preferring unpopped popcorn kernels for home preparation. Despite these trends, traditional meals continue to hold a strong presence in the market. The market is expected to grow further due to the convenience factor and the wide array of flavors catering to diverse consumer tastes. However, maintaining ingredient transparency and ensuring the absence of harmful additives will remain crucial for market success.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing demand for healthy snacks is the key driver of the market. Popcorn, a beloved snack, has gained significant traction in the global market due to its health benefits. As consumers become more health-conscious, popcorn, with its rich nutritional profile, has emerged as a preferred choice. This snack is packed with proteins, antioxidants, dietary fiber, polyphenolic compounds, and vitamin B complex. The versatility of popcorn is evident in its widespread use in various sectors, including the entertainment industry, sports events, and public places. In theaters, mushroom popcorn adds a gourmet touch to the movie-going experience. At sports events, popcorn provides a tasty and energizing snack for spectators. In public places, it is a convenient and healthy option for those on-the-go.
The ready-to-eat popcorn category has particularly benefited from this trend, as it is a natural, trusted, and healthy alternative to other high-calorie snacks. Popcorn is popped, not fried, making it lower in fat and calories, naturally gluten-free, and typically derived from non-GMO sources.
The growth of online retailing is the upcoming trend in the market. The entertainment industry, including theaters and sports events, continues to be a significant market for popcorn. However, the global market is witnessing a shift towards online sales channels. The expansion of e-commerce enterprises like Alibaba, Amazon, and Flipkart, among others, has facilitated this trend. According to the US Department of Commerce, e-commerce sales accounted for over 20% of total retail sales in the US in 2020. Convenient shopping, simplified product discovery, attractive pricing, and personalized product offers are driving the global demand for online shopping. This trend presents an opportunity for popcorn manufacturers and distributors to expand their reach and improve customer relations and profitability.
An online presence enables them to increase product visibility across regions, including the sale of specialty popcorn varieties like mushroom popcorn.
Fluctuating prices of corn is a key challenge affecting the market growth. The market has faced various challenges due to unpredictable weather conditions affecting the supply of corn in several geographic regions. The entertainment industry, including theaters, and public places such as sports events, heavily rely on a consistent supply of popcorn.
However, the impact of El Nino on corn crops in the US, particularly in the Eastern Corn Belt comprising Western Ohio, Indiana, and Illinois, has caused significant damage and uncertainty. Spring and summer rains delayed planting, potentially reducing overall corn yields. Mushroom popcorn, an alternative to traditional popcorn, may offer some respite to vendors facing corn shortages. Nonetheless, the market's stability remains uncertain as the full impact of El Nino on corn production unfolds.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Popcorn is a popular ready-to-eat snack, known for its crunchy texture and delicious taste. The market for popcorn is witnessing significant growth due to the increasing health consciousness among consumers. Plant-based proteins in popcorn make it a preferred choice for those following vegetarian or vegan diets. The market offers various popcorn flavors, including sea salt, to cater to diverse consumer preferences. The advent of online platforms and e-commerce has revolutionized popcorn shopping. Internet usage and shopping apps have made it convenient for consumers to purchase popcorn online, especially during stay-at-home orders. Microwave popcorn remains a favorite due to its ease of preparation and quick cooking time.
Moreover, popcorn comes in various mix-ins like candy, dried cranberries, and clean-label products. Brands are also introducing vegan and organic popcorn lines, along with innovative flavors such as coconut water and matcha. Popcorn is rich in essential vitamins and minerals like folate, niacin, riboflavin, thiamin, pantothenic acid, vitamin B6, iron, calcium, copper, and magnesium, making it a healthy snacking option. Popcorn is available at popcorn stores, supermarkets, and hypermarkets. Doorstep service and simple payment options ensure a hassle-free shopping experience for consumers. Popcorn is not just a snack; it's an all-occasion gift box and party favor.
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Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
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Market growth 2024-2028 |
USD 4.92 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.53 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 34% |
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Key countries |
US, China, UK, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
American Pop Corn Co., Campbell Soup Co., Coda Manufacturing LLC, Conagra Brands Inc., CORNiCO Co. s.r.o, Garrett Popcorn Holding Company LLC, Great American Popcorn Co., Intersnack Group GmbH and Co. KG, Joes Gourmet Foods Ltd., Jonnys Popcorn Delights, Kettle Foods Ltd., Newmans Own Inc., PepsiCo Inc., Popcorn Superpop Group Pty Ltd., Popz USA LLC, PROPER Snacks, Quinn Foods LLC, The Hershey Co., The J.M Smucker Co., and Weaver Popcorn Bulk LLC |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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