The latest report by IMARC Group, titled “Popcorn Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global popcorn market size reached a value of US$ 11.63 Billion in 2021. Popcorn is a popular snack with low calorie and high fiber content. It is produced from the exposed kernel of corn or maize by adding butter, salt, and other ingredients. It is a well-liked snack that satiates the consumers while being light on calories. Popcorn is consumed due to the associated health benefits such as a low risk of diabetes, heart disease, hypertension, and improved weight management. It is also a rich source of antioxidants, folate, niacin, riboflavin, thiamin, and vitamins. Besides this, popcorn consumption is also known to aid metabolism, control blood sugar levels, and support healthy bone function.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Popcorn Market Trends:
The market is primarily driven by the changing dietary preferences of individuals. Popcorn is included under the category of healthy foods as it is made of corn and needs less time to cook. In addition, there has been a high demand for convenience and ready-to-eat (RTE) food solutions like popcorn. This can be attributed to rapid urbanization and hectic lifestyles. Moreover, popcorn is increasingly consumed at commercial spaces, stadiums, as well as multiplex theatres. Besides this, the rising awareness regarding healthy eating habits is also shifting consumer preference toward popcorn. In addition to this, manufacturers have launched new flavors, including rosemary, olive oil, sea salt, caramel, white and chipotle aged cheddar, thus creating a positive market outlook. Furthermore, inflating disposable income levels, along with effective marketing strategies, are also significantly impacting the market growth. Looking forward, the market is expected to reach a value of US$ 17.6 Billion by 2027, exhibiting a CAGR of 6.70% during the forecast period (2022-2027).
- Based on the type, the market has been segmented into microwave and ready-to-eat (RTE) popcorn.
- On the basis of the distribution channel, the market has been classified into on-trade and off-trade (supermarkets and hypermarkets, convenience stores, online channel, and other channels).
- The market has been categorized based on the end consumer into household and commercial.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Amplify Snack Brands Inc. (The Hershey Company), Campbell Soup Company, Conagra Brands Inc., Eagle Family Foods Group LLC (The J.M. Smucker Company), Frito-Lay North America Inc. (Pepsico Inc.), Great American Popcorn, Joe's Gourmet Foods Limited, Popz USA LLC, Preferred Popcorn, Proper Snacks Limited, Quinn Snacks Inc., and Weaver Popcorn Bulk LLC.
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