USD 5.78 billion
Popcorn Market Size, Share, Growth Analysis, By Product(Ready-To-Eat Popcorn and Microwave Popcorn), By Distribution Channel(B2B and B2C (Supermarkets/Hypermarkets, Convenience Stores, Online)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2123 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
61
|Figures:
75
Popcorn Market Insights
Global Popcorn Market size was valued at USD 5.78 billion in 2022 and is poised to grow from USD 6.43 billion in 2023 to USD 15.03 billion by 2031, growing at a CAGR of 11.20% during the forecast period (2024-2031).
The global consumer trend towards health and well-being is crucial to the global popcorn market's expansion. Global consumer behavior trends for food and drink items as snacks are another factor driving the market. The coronavirus outbreak impacted the world's popcorn supply chain and distribution system, which led to the closure and regulation of convenience stores and super/hypermarkets. A substantial change in consumer purchasing priorities was brought on by the COVID-19 epidemic.
Once considered "niche" interests, the rise in consumer concerns about personal health and sustainable development are now top priority, especially when it comes to food purchases. Plant-based proteins are more sought-after than ever, and demand for wholesome, practical, and sustainably produced food is rising. The pandemic resulted in a huge change in consumer expectations, and thus, people are making personal purchasing decisions based on sustainability and are trying to make more health-conscious purchases. Furthermore, the market is being driven by consumer demand for flavor-infused popcorn.
The food and beverage industry is being considerably impacted by the rising demand for ready-to-eat snacks worldwide. The majority of the market's products are ready-to-eat (RTE). The rising demand for gourmet flavored RTE popcorn is attributed to an expanded selection of mouth watering new flavors, consistent product development, and innovation. For instance, PepsiCo, Inc. notes the growing popularity of the sea salt flavour.is leveraging this trend with their Smartfood Delight Sea Salt Popcorn. Companies in the RTE popcorn sector are working to gain market share by offering appealing product packaging, a wide range of products, and online product promotion.
Popcorn is now available to customers all around the world thanks to e-commerce or internet retail. Major market players are constructing e-commerce websites quickly due to rising internet usage and consumer demand for shopping apps. Online businesses offer special rewards to people who join their online community in addition to discounts and one-of-a-kind bargains. Because more people stayed at home during the COVID-19 pandemic, there was an increase in the demand for microwave popcorn. Another significant reason fueling the demand for the product is the need for microwaveable popcorn, which has increased as more homes have microwaves.
US Popcorn Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
B2B
Fastest Growth
B2B
Growth Rate
11.20% CAGR
Global Popcorn Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Popcorn Market Segmental Analysis
The global popcorn market is segmented based on product, distribution channel, and region. In terms of product, the market is classified into ready-to-eat popcorn and microwave popcorn. Based on distribution channels, the market is categorized into B2B, B2C (supermarkets/hypermarkets, convenience stores, online). Based on region the global popcorn market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Popcorn Market By Distribution Channel 2021 (%)
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Popcorn Market Regional Insights
North America accounted for the second-largest share of more than 24.55% of the overall sales in 2022 as a result of a rising demand for salty snacks in the region. The demand for popcorn in the area has increased as healthy eating gains popularity. Popcorn add-ons like candy or dried cranberries are becoming increasingly popular, as are new flavors and healthier snack options.
In addition to flavor innovation, the market has seen advancements in items that cater to consumer desires for healthy, all-natural, and clean-label goods. Poppin Top Hat Popcorn debuted fresh flavors in August 2020 and provides its clients with delectable gourmet popcorn, all-occasion gift boxes, party favors, and custom designs. On the other hand, Asia Pacific is holding the largest share and is likely to do so throughout the forecast period. Husk, a Scottie Pippen-owned vegan popcorn company, debuted a line of organic popcorn in July 2021 with flavors like matcha, coconut water, and kale and broccoli.
Global Popcorn Market By Geography, 2021-2030
- Largest
- Fastest
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Popcorn Market Dynamics
Popcorn MarketDrivers
Increasing Demand for Healthy Snacking Options
- Popcorn is considered a healthy snack option as it is low in calories and fat compared to other snacks like chips and cookies. With the growing health consciousness among consumers, the demand for popcorn is increasing.
Popcorn Market Restraints
Price Volatility of Raw Materials
- The price of raw materials like corn kernels used to make popcorn can be volatile, which can impact the profitability of manufacturers and restrain market growth.
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Popcorn Market Competitive Landscape
To strengthen their positions in the market and increase their share, industry players often employ new product launches, innovations, geographic expansions, and mergers and acquisitions. For instance, Opopop debuted new Dill Pickle-flavored popcorn kernels in June 2022 in preparation for summer 2022. The limited-edition Opopop Pickle Monster flavor is distinct and powerful, with the right amount of dill, spice and saltiness. Popcorn Indiana unveiled four improved and new popcorn flavors in July 2020. Kettle corn, black and white drizzle corn, movie theater butter and aged white cheddar are a few of the modified variants.
Popcorn Market Top Player’s Company Profiles
- American Popcorn Company
- Snyder's-Lance, Inc.
- The Hershey Company
- PepsiCo, Inc.
- Aramidth International Group
- Amplify Snack Brands
- Angie's Artisan Treats
- B&G Foods, Inc.
- Frito-Lay, Inc.
- GH Cretors Popped Corn
- Hain Celestial Group
- Jolly Time Pop Corn
- Kernel Encore Gourmet Popcorn
- Metcalfe's Food Company
- Pop Weaver
- Popcorn Indiana
- The Popcorn Factory.
Popcorn Market Recent Developments
- In August 2021, Conagra Brands launched its new Slim Jim popcorn line, which includes three bold flavors: Original, Memphis BBQ, and Spicy Chili.
- In July 2021, the Weaver Popcorn Company announced the acquisition of Popcornopolis, a California-based popcorn brand.
Popcorn Key Market Trends
- Increasing demand for flavored popcorn: Flavored popcorn, such as caramel, cheese, and chocolate-covered popcorn, is gaining popularity among consumers. Popcorn manufacturers are introducing new and innovative flavors to cater to this demand.
- Rising demand for organic and non-GMO popcorn: Health-conscious consumers are increasingly opting for organic and non-GMO popcorn as they perceive it to be a healthier option. Popcorn manufacturers are responding to this trend by introducing organic and non-GMO popcorn products.
- Growing popularity of gourmet popcorn: Gourmet popcorn made with high-quality ingredients and unique flavor profiles is gaining popularity among consumers. This trend has led to the emergence of small-scale popcorn manufacturers that offer artisanal and premium popcorn products.
- Increasing popularity of ready-to-eat popcorn: Consumers are increasingly looking for ready-to-eat snack options that are convenient and can be consumed on-the-go. This trend is driving the growth of the ready-to-eat popcorn segment.
- Growing popularity of online sales channels: With the increasing popularity of e-commerce, popcorn manufacturers are increasingly selling their products through online sales channels. This has led to increased accessibility and convenience for consumers and is driving the growth of the popcorn market.
Popcorn Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Popcorn market is the global consumer trend towards well-being that is crucial to the market's expansion. Global consumer behavior trends for food and drink are another factor driving the sector. The coronavirus outbreak impacted the world's popcorn supply chain and distribution system, which led to the closure and regulation of convenience stores and super/hypermarkets. Popcorn is considered a healthy snack option as it is low in calories and fat compared to other snacks like chips and cookies. With the growing health consciousness among consumers, the demand for popcorn is increasing.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.78 billion |
| Market size value in 2031 | USD 15.03 billion |
| Growth Rate | 11.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Popcorn Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Popcorn Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Popcorn Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Popcorn Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Popcorn Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Popcorn Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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