Popcorn Market report from 2022-2027 by Technavio - The market size to grow by USD 3.97 billion during the forecast period
NEW YORK, Dec. 14, 2023 /PRNewswire/ -- The Popcorn Market is projected to witness substantial growth between 2022 and 2027, with an estimated increase of USD 3.97 billion at an accelerated Compound Annual Growth Rate (CAGR) of 9.79%. This projection is primarily driven by the escalating demand for healthy snack options, where popcorn, recognized for its health benefits, has gained immense popularity globally. The market research encompasses two primary product segments - ready-to-eat popcorn and microwave popcorn - and serves both household and commercial end-users across regions including APAC, North America, Europe, South America, and the Middle East and Africa. Request Sample Report
To gain insights covering Popcorn Kernels, Gourmet Popcorn, Popcorn Seasonings, Popcorn Machines, Air-popped Popcorn, Popcorn Brands, Popcorn Packaging, Movie Theater Popcorn, Popcorn Flavors, Popcorn Production, Popcorn Consumption, Popcorn Trends, Healthy Popcorn, Organic Popcorn, Popcorn Industry, Popcorn Market Analysis, Popcorn Distribution, Popcorn Sales, Popcorn Popularity, Popcorn Innovations, and Popcorn Merchandising, you can explore our detailed report for a comprehensive understanding of the entire popcorn market landscape.
Covering a comprehensive spectrum, this industry analysis report delves into distinct market segments based on product (ready-to-eat popcorn and microwave popcorn), end-user (household and commercial), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). An in-depth market research analysis of drivers, trends, and challenges is provided, supplemented by historical market data spanning from 2017 to 2021.
Our researchers conducted a detailed market research analysis, considering 2022 as the base year and 2023 as the estimated year, identifying crucial drivers, trends, and challenges. The popcorn market is experiencing growth due to increasing demand for healthy snacks. Popcorn's global popularity as a nutritious snack, rich in proteins, antioxidants, fibers, and vitamins, contributes to its widespread consumption.
The market growth aligns with the rising health consciousness among consumers, leading to a notable shift in snack preferences. Specifically, the ready-to-eat popcorn category benefits from this perception change, being recognized as a trusted and natural healthy snack. As more individuals acknowledge popcorn's nutritional benefits, it becomes a preferred choice among health-conscious consumers, driving market growth. Buy the report
This robust analysis presents an illuminating outlook on the Popcorn Market's dynamics, challenges, and opportunities across diverse sectors and geographies, charting a trajectory of rapid growth and evolution.
The popcorn market continues to witness a rise in demand across various segments, including microwave popcorn, gourmet popcorn, and popcorn kernels. Consumers, driven by health consciousness, are increasingly inclined towards ready-to-eat popcorn, seeking healthier snacking options. Notably, organic popcorn, with its natural appeal and nutritional benefits, emerges as a trend gaining significant traction within the popcorn industry.
Innovations in popcorn flavors and seasonings have captivated consumer interest, offering a wide array of choices and enhancing popcorn's appeal. Additionally, advancements in popcorn machines and air-popped popcorn production techniques contribute to the industry's growth. The market analysis reflects a robust increase in popcorn sales, notably in movie theaters where popcorn remains a quintessential snack, driving its popularity.
The popcorn industry strategically focuses on merchandising, packaging, and distribution to meet evolving consumer preferences. Popcorn merchandising strategies capitalize on the diversity of flavors and the health benefits associated with consuming this snack, amplifying its market presence. Moreover, the industry's emphasis on popcorn packaging innovations aims to enhance product visibility and shelf appeal, thereby driving consumption rates.
Consumers' increasing interest in healthy snack alternatives amplifies the significance of the popcorn market. The industry aligns with these trends, emphasizing healthy popcorn options through organic production methods and promoting air-popped popcorn as a nutritious choice. These strategies propel the industry's growth and cater to the growing demand for healthier snacking alternatives.
The popcorn market's thriving nature hinges on its adaptability to consumer preferences, innovations in flavors, and strategic merchandising efforts. As the industry continues to witness shifts in consumption patterns and preferences, its dynamism and ability to meet diverse demands serve as cornerstones for sustained growth and market relevance.
For insights on Popcorn Kernels, Gourmet Popcorn, Popcorn Seasonings, Popcorn Machines, Air-popped Popcorn, Popcorn Brands, Popcorn Packaging, Movie Theater Popcorn, Popcorn Flavors, Popcorn Production, Popcorn Consumption, Popcorn Trends, Healthy Popcorn, Organic Popcorn, Popcorn Industry, Popcorn Market Analysis, Popcorn Distribution, Popcorn Sales, Popcorn Popularity, Popcorn Innovations, and Popcorn Merchandising, download the sample report here
Senior Analysts of Technavio said:
"APAC is estimated to contribute 33% to the growth of the global market during the market forecast period."
"APAC stands out as a key contributor, projected to account for 33% of the global market growth during the market forecast period. Countries like China, India, Japan, and South Korea, displaying immense market potential due to an increase in disposable income and a growing number of organized retail outlets. Despite challenges set by the COVID-19 pandemic, the region showcased resilience, with vaccination drives leading to a resurgence in demand for ready-to-eat popcorn, especially through e-commerce platforms."
According to an Executive of Technavio,
"The growth of online retailing is the key trend"
"E-commerce companies like Alibaba, Amazon, and Flipkart facilitate expanded market reach for popcorn suppliers, offering increased visibility and customer engagement opportunities. The consumer preference for online shopping and convenience boosts the market's growth potential."
The popcorn market presents a promising landscape with escalating growth opportunities driven by consumer health awareness, evolving preferences, and strategic industry initiatives. Despite challenges in price fluctuations, the market's growth indicates significant growth potential, particularly in the ready-to-eat segment across diverse geographies.
Related reports:
Ready-To-Eat (RTE) Popcorn Market: The ready-to-eat (RTE) popcorn market is estimated to grow at a CAGR of 7.5% between 2022 and 2027. The size of the market forecast to increase by USD 2,952.16 million.
Snack Market: The market size for Snack Market is projected to decline at a CAGR of 6.51% between 2023 to 2027 with a Year over Year (YoY) growth of 5.62%.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by End-User
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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