Popcorn Market by Type (Microwave Popcorn and Ready-to-eat Popcorn) and End User (Household and Commercial) –

Global Opportunity Analysis and Industry Forecast, 2017-2023

Popcorn Market Overview:

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. The busy and hectic lifestyle has motivated individuals to adopt convenient solutions, such as instant and ready-to-eat convenient food over traditional meals. In addition, growth in awareness related to health among individuals have changed their eating habits drastically, enforcing them to have healthy food. Popcorn is the most popular snack and is instant, convenient, and healthy, as well. It is prepared by heating the corn kernels in a kettle, pot, or stove-top by adding vegetable oil or butter. Popcorn is one of the oldest and popular snack consumed across the globe at movie theatres, fairs, carnivals, and stadiums. It requires minimal preparation time and can be cooked easily at homes or can be consumed as ready-to-eat snack. Popcorn is a rich and concentrated source of nutrients such as proteins, antioxidants, fiber, vitamin B complex, and others, which makes it popular among households as a healthy alternative for breakfast and meals. Rise in consumption of ready-to-eat popcorn at home as well as in multiplex theatres is the key factor that drives the market growth. Other factors, such as introduction of microwave popcorn, increased disposable income, and change in lifestyles further fuel the market growth.

The popcorn market is segmented based on type, end user, and region. Based on type, the market is classified into microwave popcorn and ready-to-eat popcorn. By end user, it is divided into household and commercial. Based on region, the market it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global popcorn market are 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), Propercorn, Quinn Foods LLC, The Hain Celestial Group, Inc., and Weaver Popcorn Company, Inc.

In 2016, 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. drive 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 that propel the growth of the popcorn market in North America. Whereas, Asia-Pacific is anticipated to grow at the highest CAGR from 2017 to 2023.

In 2016, 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 demand healthy diet. Due to increase in disposable income consumers prefer convenience over price thereby driving the ready-to-eat (RTE) popcorn market. Growth in number of commercial places such as movie theatres, multiplexes, and stadiums in the developed as well as the developing regions further contributes to the growth of the RTE popcorn market.

In 2016, 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.

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