The global popcorn market 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.
Popcorn is a type of maize or corn kernel, which expands and puffs up when heated. It is prepared by heating corn kernel, which turns the water into steam, builds pressure inside the kernel and converts it into popcorn. Popcorn is a snacking choice almost in all countries and regions. Two types of popcorns are available commercially that include ready-to-eat and microwave popcorn. Microwave popcorns and ready-to-eat popcorn are mainly used as snack at homes as well as in movie theatres, fairs and circuses. Butter, cheese and caramel are the traditional flavors available in the market. Whereas new flavors such as jalapeno, sea salt, cracked pepper, bacon, and salted caramel have been introduced recently in the market.
According to American Dental Association, popcorn is a sugar free, fat-free snack containing low calories, which helps in weight loss. In addition, popcorn is rich in nutrients such as proteins, antioxidants, fibers, polyphenolic compounds, and vitamin B complex, which provide various health benefits. Hence, it is widely consumed as a healthy snack and considered as a better choice for breakfast, contributing to the growth of the popcorn market. The rise in disposable income and changing lifestyles have made consumers to spend more on entertainment such as watching movies in single theaters, multiplex theaters, and sports events, which is further propelling the growth of the popcorn market. Growth of theatres and multiplexes in emerging economies such as India and China are still at its initial phase as compared to other developed countries, which will provide great opportunities for growth of popcorn market in recent years in this region.
Excessive amounts of oil, preservatives, and fats are added to popcorn in order to make them microwavable. Snack vendors are considering these concerns and focus on improving their product, by introducing variety of healthy snacks in the market. This may change perception and buying preferences of consumer for other snacks such as nuts, chips, bites, pretzels, yogurt, and others over popcorn, which is expected to restrain the growth of the market.
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 bifurcated into butterfly and mushroom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Popcorn is a type of maize or corn kernel, which expands and puffs up when heated. It is prepared by heating corn kernel, which turns the water into steam, builds pressure inside the kernel and converts it into popcorn. Popcorn is a snacking choice almost in all countries and regions. Two types of popcorns are available commercially that include ready-to-eat and microwave popcorn. Microwave popcorns and ready-to-eat popcorn are mainly used as snack at homes as well as in movie theatres, fairs and circuses. Butter, cheese and caramel are the traditional flavors available in the market. Whereas new flavors such as jalapeno, sea salt, cracked pepper, bacon, and salted caramel have been introduced recently in the market.
According to American Dental Association, popcorn is a sugar free, fat-free snack containing low calories, which helps in weight loss. In addition, popcorn is rich in nutrients such as proteins, antioxidants, fibers, polyphenolic compounds, and vitamin B complex, which provide various health benefits. Hence, it is widely consumed as a healthy snack and considered as a better choice for breakfast, contributing to the growth of the popcorn market. The rise in disposable income and changing lifestyles have made consumers to spend more on entertainment such as watching movies in single theaters, multiplex theaters, and sports events, which is further propelling the growth of the popcorn market. Growth of theatres and multiplexes in emerging economies such as India and China are still at its initial phase as compared to other developed countries, which will provide great opportunities for growth of popcorn market in recent years in this region.
Excessive amounts of oil, preservatives, and fats are added to popcorn in order to make them microwavable. Snack vendors are considering these concerns and focus on improving their product, by introducing variety of healthy snacks in the market. This may change perception and buying preferences of consumer for other snacks such as nuts, chips, bites, pretzels, yogurt, and others over popcorn, which is expected to restrain the growth of the market.
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 bifurcated into butterfly and mushroom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging popcorn market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing popcorn market opportunities in the market.
- The popcorn market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Key Market Segments
By End User
- Household
- Commercial
By Type
- Microwave
- Ready To Eat
By Shape
- Butterfly
- Mushroom
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of LAMEA
Key Market Players
- Quinn Foods LLC
- The Hain Celestial Group, Inc.
- Weaver Popcorn Company, Inc.
- the hershey company
- Conagra Brands, Inc.
- snyder's-lance, inc.
- Intersnack Group GmbH & Co. KG
- PepsiCo
- eagle family foods
- propercorn
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POPCORN MARKET, BY TYPE
CHAPTER 5: POPCORN MARKET, BY END USER
CHAPTER 6: POPCORN MARKET, BY SHAPE
CHAPTER 7: POPCORN MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Popcorn Market,' the popcorn market size was valued at $9,868.40 million in 2020, and is estimated to reach $18.8 Billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.Popcorn is a type of snack made from maize or corn kernel. It is prepared by heating corn kernels with vegetable oil or butter in pot, stove, kettle or microwave. Owing to its high nutrition content, popcorn is consumed as a snack food all over the world in two forms- ready-to-eat (RTE) and microwave popcorn. Microwave and RTE popcorn are consumed as the most favorite snack at homes as well as at movie theatres, sports events, fairs and other public places.
Popcorns are rich and concentrated sources of fiber, polyphenolic compounds, vitamin B complex, antioxidants and various proteins. Increase in health consciousness among consumers coupled with health benefits of eating popcorn are contributing to the growth of popcorn market. Significant rise in theatres and multiplexes in developed countries has led to the growth of popcorn market. Moreover, increasing number of microwaves has raised the demand for microwavable popcorn further driving the popcorn market growth.
As per the popcorn market analysis, the 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.
In 2020, ready-to-eat popcorn accounted for the highest market share and is anticipated to dominate the market during the forecast period. Due to busy and fast paced lifestyle, people are becoming more health conscious and thus, prefer a healthy diet. Due to increase in disposable income, consumer prefers convenience over price, thereby driving ready-to-eat (RTE) popcorn market. 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 RTE popcorn market.
In 2020, the household segment accounted for the highest market share. Owing to the numerous health benefits associated with popcorns, consumers consider it as a healthier option for breakfast. Whereas, commercial segment is anticipated to grow at the highest CAGR owing to rise in commercial places such as theatres, multiplexes, stadiums and others. Furthermore, rising demand for popcorn as on-the-go snack and its availability in a wider variety of flavors is expected to propel the growth of the commercial popcorn market.
Based on the shape, the butterfly segment accounted for highest popcorn market share in 2020. This was attributed to 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.
As per the popcorn market trends, 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. Whereas, Asia-Pacific is anticipated to grow at the highest CAGR from 2022 to 2031. Countries such as China and India, are experiencing a rising population and growing entertainment industry. Increase in number of commercial spaces like theatres, stadiums, and multiplexes in the developing nations of Asia-Pacific is expected to foster the demand for popcorn during the forecast period.
The key players operating in the global popcorn industry 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.
Key findings of the Study
- Region wise, Asia-Pacific is expected to grow at the highest CAGR of 6.5% from 2022 to 2031, followed by LAMEA.
- By type, ready-to-eat popcorn segment accounted for approximately $ 67.4% of the popcorn market share in 2020, in terms of value, and is expected to grow at the highest CAGR of 5.6%.
- In 2020, North America generated the highest revenue, and is expected to grow at a CAGR of 4.9%.
- In 2020, U.S. generated the highest revenue, accounting for approximately $ 39.9% share in the global market.
Companies Mentioned
- Quinn Foods LLC
- The Hain Celestial Group, Inc.
- Weaver Popcorn Company, Inc.
- the hershey company
- Conagra Brands, Inc.
- snyder's-lance, inc.
- Intersnack Group GmbH & Co. KG
- PepsiCo
- eagle family foods
- propercorn
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | March 2022 |
| Forecast Period | 2020 - 2031 |
| Estimated Market Value ( USD | $ 9868.4 million |
| Forecasted Market Value ( USD | $ 18827.1 million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
