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The Popcorn Market size is projected to increase by USD 3.97 billion at a CAGR of 9.79% between 2022 and 2027. Market growth is driven by the increasing demand for healthy snacks and the surge in product launches, propelled by a rise in disposable income and shifts in lifestyle preferences. However, challenges emerge from the fluctuating prices of corn and competition from other snack options. Additionally, concerns regarding the side effects of consuming ready-to-eat popcorn present hurdles to market expansion. Despite these obstacles, efforts to address consumer preferences for healthier snack alternatives and stabilize corn prices are crucial for overcoming challenges. Moreover, initiatives aimed at enhancing product innovation and diversification can help mitigate competition and cater to evolving consumer needs. Embracing sustainable practices and focusing on product quality and safety are essential for fostering continued growth in the healthy snacks market while addressing key challenges in the industry.
The growing demand for healthy snacks is driving growth in the market size. The health benefits of popcorn principally contribute to its global popularity as a widely consumed snack item. As more and more people realize the health benefits of Popcorn, it is now considered to be a healthy snack. Popcorn is a rich and concentrated source of various proteins, antioxidants, fibers, polyphenolic compounds, and vitamin B complex. More people are choosing healthy options for their snacks, as health consciousness increases in an increasing number of consumers. The ready-to-eat popcorn category has benefited from this shift in perception and change in eating habits as popcorn is a familiar, natural, trusted, and healthy snack. The few health benefits of popcorn coupled with increasing demand for healthy snacks will drive the market in focus during the forecast period.
The Popcorn Market shows an Accelerated CAGR during the forecast period.
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This market research report extensively covers market segmentation by product (ready-to-eat and microwave), end-user (household and commercial), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Popcorn is increasingly popular across the world, particularly in the US, Canada, Mexico, the UK, Germany, China, and India. In addition, popcorn has become common at picnics, house parties, and gatherings of family and friends. The growth of this segment is attributable to the adoption of popcorn in a large number of households. This is being fueled by the proliferation of posts on social media platforms such as Instagram and Facebook that show people cooking and eating this ready-to-eat popcorn. The rising demand for ready-to-eat popcorn among customers and the launches of new products are expected to propel the growth of the household segment of the global popcorn market during the forecast period.
The market share growth by the ready-to-eat segment will be significant during the forecast period. Preferences for ready-to-eat (RTE) snacks, including popcorn, are evolving, with consumers, especially the youth, eager to experiment and constantly seeking different products. Increased consumer interest in convenience foods is driving up the market for prepared and eaten snacks.
The read-to-eat segment was valued at USD 3.76 billion in 2017 and continued to grow until 2021.
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RTE goods are becoming more popular because of short cooking time, ease of preparation, and long shelf life. To meet this demand, manufacturers are seeking to innovate products, extend their brand names, and introduce new brands. Increasing consumer interest in ethnic and exotic flavors is pushing vendors to experiment with innovative flavors such as fruit-flavored chutney popcorn and barbecue popcorn. Such factors are expected to fuel the growth of the ready-to-eat segment and market in focus during the forecast period.
APAC is estimated to contribute 33% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, APAC was the largest market for popcorn in the world. China, India, Japan, South Korea, Australia, Taiwan, New Zealand, Singapore, and Indonesia are the major APAC countries with huge market potential for popcorn in APAC. Over the last five years, imports of popcorn have increased from countries such as China, Australia, and India, which are the companies operating in the world market for popcorn, this is a positive sign. The APAC region is the world's biggest population area and has a huge potential for growth in popcorn. The increasing disposable income of consumers and the rising number of organized retail outlets offering ready-to-eat popcorn are the major drivers estimated to drive the growth of the popcorn market in APAC during the forecast period.
The market offers a delightful range of options to cater to modern snacking preferences, from traditional popcorn kernels to ready-to-eat snacks packed with essential nutrients like niacin, riboflavin, and thiamin. With a focus on health-conscious choices, popcorn enthusiasts can enjoy varieties enriched with pantothenic acid, vitamin B6, copper, and magnesium. Convenient options like instant food and microwave popcorn make snacking effortless, while the use of vegetable oil ensures a healthier alternative. Available across various online platforms and e-commerce channels, popcorn caters to modern lifestyles, with options ranging from classic Sea Salt flavor to gourmet gourmet flavored RTE popcorn. Whether enjoyed at multiplexes or in the comfort of home, popcorn remains a timeless snack loved by all ages, combining taste, convenience, and nutritional value.
The growth of online retailing is a key trend in the market. The global expansion of e-commerce enterprises such as Alibaba, Amazon, and Flipkart, among others, has been fueled by increasing internet access. A new opportunity has been opened to the suppliers through online shopping, which will allow them to increase sales, expand their geographical reach, and enhance customer relations and profitability. With an online presence, manufacturers and distributors can boost their product visibility across regions.
However, a number of producers and distributors are focusing on Internet sales owing to consumers' increased interest in online sales, as well as their preference for the convenience this offers. Online retailers facilitate business-to-business (B2B) and business-to-consumer (B2C) transactions, encouraging vendors to concentrate on the internet-savvy consumer segment and explore new online retail formats. Such factors are expected to boost the growth of the global market during the forecast period.
The fluctuating prices of corn are a major challenge in the market. Due to climatic conditions, there have been fluctuations in the supply of corn from some geographic regions, some of which have affected the operations of the vendors in the market. The fluctuation in the prices of corn is a major challenge faced by vendors operating in the market.
Moreover, any sudden rise or fall in corn prices due to an abnormal climate affects the profit margins of many corn-based food manufacturers in the US. This volatility of prices and price changes, affecting market demand and the gap in supply, is a frequent cause of production problems. Thus, fluctuating prices of corn will negatively impact the market in focus during the forecast period.
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 analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is thriving amidst the growing demand for food and beverage options, particularly those featuring plant-based proteins. Ready-to-eat food, such as gourmet flavored RTE popcorn, are gaining popularity, with options like sea salt flavor attracting consumers via online platforms. The rise in internet usage and the convenience of shopping apps have further fueled sales, especially during stay-at-home orders. Varieties like microwaveable popcorn appeal to both home and theater goers, with popcorn stores and supermarkets serving as key distribution channels. With an emphasis on clean-label ingredients and flavor innovation, the market caters to diverse tastes, offering options like vegan popcorn and organic popcorn lines. As health awareness grows, popcorn remains a favorite snack choice, offering a satisfying crunch and a range of flavors to suit every palate. The market offers an array of enticing options to cater to diverse tastes and preferences.
With a focus on popcorn flavors, consumers can enjoy a variety of choices ranging from classic favorites like Cheese and Caramel to unique and trendy flavors like Tandoori and Matcha. These options are available not only in traditional settings like theaters and multiplexes but also through the convenience of the microwave product segment and online retail stores. Moreover, the market caters to health-conscious consumers with offerings such as vegan popcorn brands and organic popcorn lines, ensuring ingredient transparency and clean-label products. Additionally, options for popcorn mix-ins like candy and dried cranberries provide added indulgence, while the convenience of doorstep service and simple payment options enhance the overall snacking experience. As demand grows, the popcorn market continues to innovate, providing delicious and satisfying snacks for all occasions.
Market is flourishing with a diverse array of offerings to satisfy consumer cravings and preferences. From traditional theatres to the convenience of internet distribution channels and hypermarkets, popcorn is readily available in various settings. Whether packaged in all-occasion gift boxes or offered as party favors, popcorn serves as a versatile snack for all occasions. Health-conscious consumers can indulge in options like vegan popcorn brands and organic popcorn lines, while flavor enthusiasts can explore innovative varieties such as matcha. Moreover, popcorn is fortified with essential nutrients like folate, iron, and calcium, appealing to health-conscious consumers. With options ranging from gourmet popcorn with all-natural flavors to classic favorites like Cheese and Caramel, the popcorn market caters to a wide range of tastes and preferences, ensuring that snacking remains enjoyable for consumers of all ages.
Popcorn Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.79% |
Market growth 2023-2027 |
USD 3.97 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.25 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Pop Corn Co., Campbell Soup Co., Conagra Brands Inc., Garrett Popcorn Holding Company LLC, Intersnack Group GmbH and Co. KG, Newmans Own Inc., PepsiCo Inc., PROPER Snacks, Quinn Foods LLC, The Hershey Co., The J.M Smucker Co., Weaver Popcorn Bulk LLC, Popz USA LLC, Popcorn Superpop Group Pty Ltd., Kettle Foods Ltd., Jonnys Popcorn Delights, Joes Gourmet Foods Ltd., Great American Popcorn Co., CORNiCO Co. s.r.o, and Coda Manufacturing LLC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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