The global popcorn market size was estimated at USD 5.2 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. The market growth is reliant upon the global consumer trend toward well-being. In addition, the industry is being driven by changing consumer behavior patterns for food and beverage globally. The global popcorn supply chain and distribution channel were disrupted by the coronavirus outbreak, which resulted in the closure and restrictions of convenience stores, and super/hypermarkets. The COVID-19 pandemic caused a significant shift in consumer purchasing priorities.
Personal health and sustainable development, once relegated to the category of "niche" interests, are now at the forefront of buyers' minds, especially when it is related to food purchases. Demand for healthy, convenient, and sustainably-produced foods is on the rise, and plant-based proteins are more popular than ever. People are making personal purchasing decisions based on sustainability and are aiming to make more health-conscious shopping decisions due to the pandemic, which has caused a significant shift in consumer expectations. In addition, the demand for popcorn with different flavors is also driving the market.
The global demand for ready-to-eat snacks is increasing, significantly affecting the food and beverage market. Ready-to-eat (RTE) products dominate the industry. An expanding range of exciting new flavors, consistent product development, and innovation attract consumers and are attributable to the increased demand for gourmet flavored RTE popcorn. Sea salt flavor, for instance, is becoming increasingly popular, and PepsiCo, Inc. is capitalizing on this trend with its Smartfood Delight Sea Salt Popcorn. Companies in the RTE popcorn industry are taking steps to increase market share with their attractive product packaging, diverse product portfolio, and promoting products on online platforms.
E-commerce or online retail has made popcorn accessible to consumers across various parts of the world. Due to increased internet usage and customer preference for shopping apps, major market participants are rapidly building e-commerce websites. Along with discounts and unique deals, online brands provide particular benefits to those who join their online community. The demand for microwave popcorn increased during the COVID-19 pandemic due to stay-at-home orders. In addition, as the percentage of households with microwaves has increased, so has the demand for microwaveable popcorn, which is another key factor driving the product demand.
The RTE product segment accounted for the maximum share of more than 74.00% of the global revenue in 2021. The rising consumption of RTE popcorn at home and in theatres, coupled with a rise in the spending capacity of consumers, is expected to drive the demand for RTE popcorn. The demand is also likely to be driven by the rising health consciousness among individuals. In addition, a growing range of new flavors, consistent product developments, and innovations attract consumers. In November 2021, AMC planned to open five popcorn stores in the first half of 2022, or counters, and/or kiosks in shopping malls in the U.S. including kiosks in select retail locations in malls across the nation.
In addition, AMC plans to supply microwaveable prepackaged and ready-to-pop popcorn to supermarkets and convenience stores around the country. On the other hand, the microwave product segment is expected to register the fastest growth rate, in terms of revenue, during the forecast period. The COVID-19 pandemic and the increasing affordability of electronic goods led to an increase in demand for microwave popcorn. In 2020, Pop Secret, a Campbell Snacks brand, was best-selling, with sales jumping 16.4% to USD 169.5 million.
The B2C segment dominated the global industry in 2021 and accounted for the largest share of more than 69.50% of the total revenue. The segment is projected to expand further at the fastest growth rate retaining its leading position throughout the forecast years. People's buying habits have been significantly altered by the internet distribution channel, as well as by a variety of options available at supermarkets/hypermarkets & convenience stores, which offers benefits, such as doorstep service, simple payment options, substantial savings, and availability of a large choice of items on a single platform.
Due to increased internet usage and customer preference for shopping apps, major market participants are rapidly building e-commerce websites in potential areas. Consumer inclination towards e-commerce is expected to drive segment growth. In addition, the prices of products in supermarkets/hypermarkets vary according to brand, and customers have the option of selecting from a variety of brands to fit their budget. Consumer demand for salty snacks including popcorn has increased in product portfolio expansions at supermarkets and hypermarkets.
North America accounted for the second-largest share of more than 24.55% of the overall revenue in 2021 due to a growing demand for salty snacks in the region. Owing to the rising popularity of healthy snacking, there has been a rise in the region's popcorn sector. Popcorn mix-ins like candy or dried cranberries are becoming increasingly popular, as are new flavors and healthier snacking options.
The category has seen innovation not just in terms of flavors but also in terms of addressing consumer preferences for healthy, all-natural, and clean-label products. In August 2019, Poppin Top Hat Popcorn introduced new flavors and offers its customers delicious, gourmet popcorn, all-occasion gift boxes, party favors, and custom creations. On the other hand, Asia Pacific is anticipated to register the fastest growth rate, in terms of revenue, during the forecast period. In July 2021, Husk, a vegan popcorn brand by Scottie Pippen launched an organic popcorn line with Kale and Broccoli, coconut water, and matcha flavors.
New product launches, innovations, geographical expansions, and mergers & acquisitions are some of the key strategies adopted by the industry players to strengthen their position in the market and gain a higher share. For example, in June 2022, Opopop introduced new Dill Pickle flavor popcorn kernels for summer 2022. The limited-edition Opopop Pickle Monster flavor has a distinctive and robust flavor that perfectly balances saltiness, spiciness, and dill. In July 2020, Popcorn Indiana introduced four new and enhanced popcorn flavors. Among the altered varieties are kettle corn, black & white drizzle corn, movie theatre butter, and aged white cheddar. Some of the prominent players in the global popcorn market include:
Campbell Soup Company
Conagra Brands, Inc.
Weaver Popcorn, Inc.
Quinn Foods LLC
The Hershey Company
Eagle Family Foods Group LLC
Intersnack Group GmbH & Co. KG.
Market size value in 2022
USD 5.64 billion
Revenue forecast in 2030
USD 13.53 billion
CAGR of 11.2% from 2022 to 2030 in terms of revenue
Base year for estimation
2017 - 2020
2022 - 2030
Revenue in USD million/billion and CAGR from 2022 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, distribution channel, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; U.K.; Germany; France; China; India; Japan; Brazil; South Africa
Key companies profiled
Campbell Soup Company; PepsiCo Inc.; Conagra Brands, Inc.; Weaver Popcorn Inc.; Quinn Foods LLC; The Hershey Company; Eagle Family Foods Group LLC; PROPER Snacks; JOLLY TIME; Intersnack Group GmbH & Co. KG
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global popcorn market report based on product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2017 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
Regional Outlook (Revenue, USD Million, 2017 - 2030)
Central & South America
Middle East & Africa
b. The global popcorn market size was estimated at USD 5.2 billion in 2021 and is expected to reach USD 5.64 billion in 2022
b. The global popcorn market, in terms of revenue, is expected to grow at a compound annual growth rate of 11.2% from 2022 to 2030 to reach USD 13.53 billion by 2030
b. North America dominated the popcorn market with a revenue share of 24.57% in 2021, on account of several factors including growing awareness regarding health among consumers and easy availability of salty snacks.
b. Some of the key players operating in the popcorn market include Campbell Soup Company, PepsiCo Inc., Conagra Brands, Inc., Weaver Popcorn Company, Inc., Quinn Foods, LLC, The Hershey Company, Eagle Family Foods Group LLC, Proper Snacks, JOLLY TIME, Intersnack Group.
b. The key factors that are driving the popcorn market include growing popcorn health and wellness trends among consumers globally, increasing millennial interest in salty snacks, and shifting consumer behavior patterns for food and beverage products.
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