The popcorn market is segmented based on type, end user, and region.
The global popcorn market was valued at $9,060 million in 2016 and is projected to reach $15,098 million by 2023, registering a CAGR of 7.6% from 2017 to 2023. 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 convert it into popcorn. Popcorn is a snacking choice almost in all countries and regions.
Two types of popcorn are available commercially-ready-to-eat and microwave popcorn. These are mainly used as snack at homes as well as in the movie theatres, fairs, and circus.
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 are introduced recently in market.
According to American Dental Association, popcorn is a sugar free, fat-free snack containing low calories thus helps in weight loss. In addition, popcorn is rich in nutrients such as proteins, antioxidants, fibers, polyphenolic compounds, and vitamin B complex; and thus comes with a lot of health benefits.
It is widely consumed as healthy snack and considered to be a better choice for breakfast. This contributes to the growth of the popcorn market.
The rise in disposable income and changes in lifestyles have made consumers spend more on entertainment such as watching movies in single theaters, multiplex theaters, and sports events, which further propels the growth of the popcorn market. Increase in number 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 provide great opportunities for the growth of the popcorn market in recent years in this region.
Excessive amounts of oil, preservatives, and fats are added to the popcorn 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 the consumer for other snacks such as nuts, chips, bites, pretzels, yogurt, and others over popcorn, which are projected to restrain the growth of the market.
Based on type, the popcorn market is classified as microwave popcorn and ready-to-eat popcorn. By end user, it is divided into household and commercial.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Following are the key operating players in this market:
- The Hershey Company (Amplify Snack Brands, Inc.)
- Conagra Brands, Inc.
- Snyder's-Lance, Inc. (Diamond Food)
- Intersnack Group GmbH & Co. KG. (KP Snacks Limited)
- PepsiCo (Frito-Lay)
- Eagle Family Foods Group LLC (Popcorn, Indiana LLC)
- Quinn Foods LLC
- The Hain Celestial Group, Inc.
- Weaver Popcorn Company, Inc.
KEY BENEFITS FOR STAKEHOLDERS:
- This report provides a quantitative analysis of the current trends and estimations, and dynamics through 2016-2023, which assist in identifying the prevailing market opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the popcorn market is provided.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- The report outlines the current trends and future scenarios to determine the overall market potential.
- The report focuses on regional as well as global market, its key players, along with market segments including detailed study on various divisions and its applications.
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