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The global popcorn market was valued at USD 6.83 Billion in 2022, which is anticipated to grow at a CAGR of 12.62% from 2023 to 2032. Growth in the market is dependent on the worldwide trend of consumers favouring well-being. The market is also being influenced by shifting worldwide consumer trends in food and beverage consumption. The coronavirus outbreak caused disruptions to the global popcorn supply chain and distribution channel, leading to the closure and limitations of convenience stores and super/hypermarkets. The COVID-19 epidemic significantly changed the priority of consumer purchases.
Popcorn, made by heating corn kernels and adding butter, salt, pepper, chilli flakes and other condiments, is a low-calorie, high-fiber and healthful snack. It has high levels of antioxidants, vitamins, riboflavin, folate, and niacin. When consumed in moderation, it can help reduce body weight, enhance intestinal health and blood circulation, and reduce the risk of diabetes and heart disease. In addition, it relieves melancholy, eases constipation, promotes healthy bone function, regulates blood sugar, fights tumour cells, and lowers cholesterol. Due to people's busy and stressful lifestyles, instant and ready-to-eat (RTE) handy food products are becoming more and more popular worldwide. This is one of the main reasons driving the market, along with people's increasing awareness of healthy eating practises. Furthermore, the market is expanding due to the growing number of commercial spaces, such as stadiums, multiplexes, and movie theatres, around the world. Furthermore, the market is being positively impacted by the growing demand for gourmet and distinctive popcorn flavours, like sea-salted caramel, rosemary and olive oil, sea salt, and white and chipotle aged cheddar. In addition, the global accessibility of popcorn via physical and virtual retailers presents profitable expansion prospects for business investors. A growing number of people are relying more and more on microwaves to cut down on preparation time, as well as rising disposable incomes and increased internet penetration. In addition, major market participants are concentrating on social media marketing, product packaging enhancement, and mergers and acquisitions (M&A) in order to broaden their customer base and boost their total profitability.
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Strong inclination towards quick-to-eat convenience foods- Due to their busy lifestyles, people are more prone to prefer convenience foods that are quick and ready to eat than conventional meals. Furthermore, people's eating habits have changed significantly and they have become compelled to consume a healthier diet as their awareness of health issues has grown. Popcorn is not just a popular snack but also a convenient, quick, and healthful meal. While combined with butter or vegetable oil, the corn kernels are heated in a kettle, saucepan or burner. It's a popular healthy option for breakfast and dinner in families. The demand for microwaveable popcorn is mostly being driven by the advancements in microwave popcorn. The desire to live a normal life, changes in lifestyle, and increased disposable income are further factors driving the expansion of the popcorn market.
Rising disposable income- In the next years, the popcorn market will rise due to rising disposable income and growing worries about eating a balanced diet. Another factor that will play a major role in the market's growth in the upcoming years is an increase in the standard of living. In the near future, the demand for popcorn will be fueled by the opening of more commercial spaces such as multiplexes, movie theatres, and stadiums in developing nations. Popcorn is one of the relatively healthy foods that customers like because of the products' many benefits, which will fuel the global popcorn market's expansion in the years to come. In addition, growing domestic product usage of microwaves is another factor driving this market's rise in the near future.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global popcorn market, with a 31.59% market revenue share in 2022. It's because the area's need for salty snacks is expanding. The growth in the popcorn market in the region might be attributed to the growing trend of healthy snacking. New flavours and healthier snack options are becoming more and more popular, as are popcorn mix-ins like candies or dried cranberries. Innovation in the sector has addressed consumer preferences for clean-label, healthy, and all-natural products in addition to flavour innovation.
North America Region Popcorn Market Share in 2022 - 31.59%
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The product segment is divided into microwave popcorn and ready-to-eat popcorn. The ready-to-eat popcorn segment dominated the market, with a market share of around 68.35% in 2022. The demand for RTE popcorn is anticipated to be driven by increased RTE popcorn consumption at home and at movie theatres, as well as rising consumer spending power. A further factor driving demand likely involves people's growing health consciousness. Customers are also drawn in by an expanding selection of new flavours, steady product advancements, and innovations.
The distribution channel segment is divided into B2C and B2B. The B2C segment dominated the market, with a market share of around 62.46% in 2022. The segment is expected to continue growing at the highest rate possible and hold the top spot for the duration of the forecast years. The availability of a wide range of options at supermarkets, hypermarkets, and convenience stores, along with the internet distribution channel, have drastically changed people's purchasing habits. These options include doorstep service, easy payment methods, significant savings, and a vast selection of products on a single platform.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 6.83 Billion |
| Market size value in 2032 | USD 22.41 Billion |
| CAGR (2023 to 2032) | 12.62% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Product, Distribution Channel |
As per The Brainy Insights, the size of the popcorn market was valued at USD 6.83 Billion in 2022 & USD 22.41 Billion by 2032.
Global popcorn market is growing at a CAGR of 12.62% during the forecast period 2023-2032.
North America region emerged as the largest market for the popcorn.
Strong inclination towards quick-to-eat convenience foods is a significant driving factor for the growth of the popcorn market.
Rising disposable income is a significant opportunity for the growth of the popcorn market.
Key players are PepsiCo Inc., Weaver Popcorn, Inc., The Hershey Company, PROPER Snacks, Intersnack Group GmbH & Co. KG., Campbell Soup Company, Quinn Foods LLC, JOLLY TIME, Conagra Brands, Inc., Eagle Family Foods Group LLC, among others.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global popcorn market based on below mentioned segments:
Global Popcorn by Product:
Global Popcorn by Distribution Channel:
Global Popcorn by Region:
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