Popcorn Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The category of ready-to-eat (RTE) popcorn has seen phenomenal growth over the review period (2016-2018) and is projected to be at the forefront of the growth of the overall popcorn category over the forecast period (2019-2024). The category has not only seen innovations in terms of new flavors that tap into consumer cravings, but also with respect to meeting the needs of the consumer in terms of healthy, all-natural and clean label ingredients. For instance, Smartfood, a brand owned by PepsiCo has a wide product portfolio catering to each of these consumer needs. In 2014, the company introduced the Delight line of reduced-fat popcorn, which claims to contain just 35 calories per cup. In addition to traditional flavors such as salted, cheese and caramel, the brand is also available in gourmet flavors such as sea-salted caramel, white cheddar, rosemary and olive oil, sea salt, and chipotle aged cheddar. From the perspective of satiating consumer needs, both from an indulgence and health point of view, as well as because of its inherent ability to tap the best of emerging distribution channels such as online retail, the RTE popcorn segment is expected to drive the overall growth of the popcorn category.

North America has traditionally been the largest market for popcorn globally. The emergence of the trend of healthy snacking has impacted the growth of the popcorn market in the region. In the United States, the retail sales of popcorn have increased by over 32% since 2012. Much of this growth can be attributed to the double-digit growth rate associated with ready-to-eat popcorn. In addition to the emergence of new flavors and the healthy snacking trend, consumers are also increasingly looking for accompaniments to popcorn, driving the consumption of mix-ins such as popcorn with dried cranberries or candies.