Popcorn Market Research, 2031
The global popcorn market size was valued at $9,868.40 million in 2020, and is projected to reach $18,827.12 million by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
Popcorn, a widely consumed snack derived from toasted maize kernels, is valued for its adaptability and light texture. Available in gourmet, savory, and sweet varieties, it is a common sight in homes and movie theaters. Compared to many conventional snack foods, popcorn is a healthy option because it is high in fiber and low in calories.
MARKET DYNAMICS
The busy lifestyle has motivated individuals to adopt convenient solutions such as instant and ready-to-eat convenient food over traditional meals. In addition, growing awareness related to health among individuals has changed their eating habits drastically, forcing them to have healthy food. Popcorn is the most popular snack that falls into the category of both instant, convenient, and healthy food. It is prepared by heating the corn kernels in a kettle, pot, or stovetop by adding vegetable oil or butter. Popcorn is one of the oldest and most popular snacks consumed across the globe at movie theatres, fairs, carnivals, and stadiums. It requires minimal preparation time and can be cooked easily at home or can be consumed as a ready-to-eat snack. Popcorn is a rich and concentrated source of nutrients such as proteins, antioxidants, fiber, vitamin B complex, and others, which make it popular among households as a healthy alternative for breakfast and meals. The emergence of microwave popcorn is the key factor that drives microwave popcorn market demand. Other factors such as increased disposable income, desire to live a standard life, and change in lifestyles, further fuel the growth of the popcorn industry.
Segment Overview
The popcorn market is segmented on the basis of type, end-use, shape, and region. On the basis of type, the market is classified as microwave popcorn and ready-to-eat popcorn. By end-use, it is divided into household and commercial. Depending on the shape, the market is segregated into butterfly and mushroom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
BY END USE
Based on end use, household witnessed a major growth rate in the market. Owing to the numerous health benefits associated with popcorn, consumers consider it a healthier option for breakfast. The commercial segment is anticipated to grow at the highest CAGR owing to the rise in commercial places such as theatres, multiplexes, stadiums, and others. Furthermore, the rising demand for popcorn as an on-the-go snack and its availability in a wider variety of flavors is expected to propel the commercial popcorn market growth.
BY TYPE
Based on type, the ready-to-eat segment held the major share of the market. Due to a busy and fast-paced lifestyle, people are becoming more health conscious and thus demand a healthy diet. Due to the increase in disposable income consumers prefer convenience over price thereby driving the ready-to-eat (RTE) market. A growing number of commercial places such as movie theatres, multiplexes, and stadiums in developed as well as developing regions further contributes to the growth of the RTE popcorn market.
BY SHAPE
By shape, the butterfly segment dominated the global popcorn market in 2020 and is anticipated to maintain its dominance during the popcorn market forecast period. This is attributed to the increased availability and consumption of butterfly popcorn across the globe. The penetration of butterfly-shaped popcorn in commercial spaces is higher and hence, it is highly consumed across the globe.
BY REGION
In 2020, North America accounted for the highest popcorn market share in the global market. Higher corn production in the states of Indiana, Iowa, Nebraska, and Illinois in the U.S. drives the market growth in the region. Availability of raw materials, high disposable income, and the popularity of eating popcorn as snacks in theaters, sports events, and public places are the major factors propelling the growth of the market in North America. Whereas Asia-Pacific is anticipated to grow at the highest CAGR from 2022 to 2031. Countries such as China and India, are experiencing a growing population and growing entertainment industry. The rising number of commercial spaces such as theatres, stadiums, and multiplexes in the developing nations of Asia-Pacific is expected to foster the demand for popcorn during the forecast period.
Competition Analysis
The key players operating in the global popcorn market analysis are Amplify Snack Conagra Brands, Inc., KP Snacks Limited, PepsiCo (Frito-Lay), Quinn Foods, LLC, Indiana, Propercorn, Diamond Food, Snyder's-Lance, Inc., The Hain Celestial Group, Inc. and Weaver Popcorn Company, Inc.
SOME KEY DEVELOPMENTS IN THE MARKET
In August 2024, Conagra Brands, Inc. added a new variety of gourmet popcorn tastes to its Orville Redenbacher product line to meet the rising demand from consumers for distinctive and high-end snack options.
In May 2024, The Hershey Company established a joint venture with a top snack manufacturer to manufacture and distribute Hershey's branded popcorn products throughout the country to effectively enter the Japanese market.
In January 2024, Weaver Popcorn Bulk, LLC aimed to take advantage of the growing demand for easy snack options among Chinese consumers by introducing its microwave popcorn products in collaboration with a significant Chinese retail chain.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the current popcorn market trends, estimations, and dynamics from 2020 to 2031 to assist in identifying the prevailing market opportunities.
Major countries in each region are mapped according to the individual market revenue.
The region-wise and country-wise market conditions are comprehensively analyzed.
This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
An in-depth analysis of each segment of the popcorn market is provided to assist the prevailing market opportunities.
Popcorn Market Report Highlights
| Aspects | Details |
 By End User |
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 By Type |
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 By Shape |
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 By Region |
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 Key Market Players | Quinn Foods LLC, Weaver Popcorn Company, Inc., propercorn, Conagra Brands, Inc., The Hain Celestial Group, Inc., snyder's-lance, inc., Intersnack Group GmbH & Co. KG, the hershey company, eagle family foods, PepsiCo |
Analyst Review
Strains of corn are cultivated specifically as popping corns. Six major varieties of corn that are used as popcorn are dent corn, flint corn, pod corn, popcorn, flour corn, and sweet corn. When heated, the oil and the water within the kernel of corn turns the moisture into pressurized steam forcing it to pop.
High consumption of ready-to-eat popcorn in theaters, home and other public places is anticipated to drive the popcorn market. Increasing number of microwaves has raised the demand for microwavable popcorn. In addition, growing health consciousness among people coupled with high health benefit associated with eating popcorns further supplements the market growth. The rising popularity of snacking among the young population has boosted the need for innovative flavors. Thus, introduction of innovative flavors and rise in single theatres and multiplexes in emerging economies such as India and China, may open new opportunities for driving the market growth. However, higher availability of other healthy snacks substitutes may hamper the market growth.
The global popcorn market size was valued at $9,868.4 million in 2020 and is projected to reach $18,827.1 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. The busy and hectic lifestyle has motivated individuals to adopt convenient solutions such as instant and ready-to-eat convenient food over traditional meals.
The global popcorn market is expected to exhibit a CAGR of 5.3% from 2022 to 2031. Factors such as increased disposable income, desire to live standard life and change in lifestyles, further fuel the market growth.
The popcorn market sample is available on request on the website of Allied Market Research.
The forecast period calculated in the report is from 2022 to 2031. This report provides a detailed analysis of the top impacting factors and market sizes in each forecast year based on the segments, region, and countries.
The key players operating in the global popcorn market are Amplify Snack Conagra Brands, Inc., KP Snacks Limited, PepsiCo (Frito-Lay), Quinn Foods, Indiana, Propercorn, Diamond Food, Snyder's-Lance, Inc., The Hain Celestial Group, Inc. and Weaver Popcorn Company, Inc.
The popcorn market is segmented on the basis of type, end-use, shape, and region. On the basis of type, the popcorn market is classified as microwave popcorn, and ready-to-eat popcorn. By end-use, it is divided into household, and commercial. Depending on shape, the popcorn market is segregated into butterfly and mushroom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is anticipated to grow at the highest CAGR from 2022 to 2031. Countries such as China and India, are experiencing a growing population and growing entertainment industry. The rising number of commercial spaces such as theatres, stadiums, and multiplexes in the developing nations of Asia-Pacific is expected to foster the demand for popcorn during the forecast period.
In 2020, North America accounted for the highest market share in the global popcorn market. Higher corn production in the states of Indiana, Iowa, Nebraska and Illinois in the U.S. drives the market growth in the region. Availability of raw materials, high disposable income, and popularity of eating popcorn as snacks in theaters, sports events and public places are the major factors propelling the growth of popcorn market in North America.
The COVID-19 pandemic resulted in the implementation of the lockdown regulations across the globe and the commercial and public spaces such as movie theatres, fairs, and carnivals were restricted to remain operative. This resulted in huge losses to the global popcorn industry. However, the demand for the microwave popcorn spiked during the pandemic. People saw popcorn as a type of comfort food in during the lockdown period and extended stay hours at home.
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