Popcorn Market Size
|Study Period||2016 -2027|
|Market Size (2023)||USD 7.92 Billion|
|Market Size (2028)||USD 13.40 Billion|
|CAGR (2023 - 2028)||11.10 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Popcorn Market Analysis
The Global Popcorn Market size is expected to grow from USD 7.92 billion in 2023 to USD 13.40 billion by 2028, at a CAGR of 11.10% during the forecast period (2023-2028).
According to the nutritional information provided by The United States Popcorn Board, Popcorn's glycemic index (GI) is around 55. A serving of five popped cups has only 100 to 150 calories, no cholesterol, and nearly no fat (0.1 g per cup). Additionally, Popcorn contains several crucial vitamins for health, such as folate, niacin, riboflavin, thiamin, pantothenic acid, and vitamins B6, A, E, and K. About 8% of the recommended daily intake of iron is provided by a serving of Popcorn, while calcium, copper, magnesium, manganese, phosphorus, potassium, and zinc are at low levels.
The popcorn market has also seen the influence of the trends driving the more significant snacking industry. With the emergence of various flavors, consumer choices are shifting towards gourmet popcorn. Moreover, other movements, such as all-natural flavors and clean-label ingredients, are also impacting product launches by companies in the popcorn market. Popcorn is a whole grain that has never been processed and contains no added additives, hidden ingredients, or genetically modified organisms (GMOs). This sweet little kernel contains a hearty whole grain that is ideal for today's health-conscious consumer because it is naturally low in fat and calories, gluten-free, and non-GMO. Therefore, Popcorn has remained incredibly popular over time.
An increasing trend toward the fusion of snacks and caramel candies is being observed in the market. Companies are observed to be offering Popcorn coated with melted caramels in small packs, which are being advertised as sweet snacks. Due to the rising market trend of ingredient transparency and traceability, companies are now adhering to strict quality standards by including ingredients and packaging formats.
Popcorn Market Trends
This section covers the major market trends shaping the Popcorn Market according to our research experts:
Innovation in Flavor driving the market
The United States Popcorn Board estimates that American consumers eat around 14 billion quarts of freshly popped popcorn per year, with 70% of that popcorn consumed at home. 90% of popcorn purchased for domestic use is unpopped, including RTE popcorn. Convenience food demand is increasing at a faster rate as a result of shifting social and economic patterns, rising food and beverage expenditure, more awareness of healthier foods, alterations in meal patterns and ingrained eating habits, and the desire to try new flavors is driving the market, Key players offer healthy ready-to-eat popcorn packets in different flavors which is further boosting the popcorn market. Also, there is an increased demand for popcorn as the young population thrives on a snack readily available in the market with various flavors. Consumers are now interested in flavor innovation in the popcorn category because ready-to-eat popcorn's pre-popped convenience makes it the ideal medium for multiple tastes and toppings. A large number of individuals purchase new and innovative flavors that include dried cranberries, candies, and ones with seasonal flavors like pumpkin spice and gingerbread, in addition to well-known flavors like cheese and chocolate or caramel-covered popcorn.
Additionally, in January 2022, in celebration of World Popcorn Day, INOX Leisure Ltd. (INOX), India's largest multiplex chain, announced the release of two new popcorn flavors: Tandoori and Tiramisu. These two varieties complement INOX's current selection of flavors, including Cheese, Caramel, and Classic Salted. It aims to provide delightful snacking options to improve the movie-going experience, strengthen its F&B offerings outside cinemas, and cater to a broader range of audiences.
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North America the Leading Consumer for Popcorn
The Midwest, also referred to as the Corn Belt of the United States, produces the majority of the popcorn that is farmed and marketed globally. According to the United States Popcorn Board, the lengthy and hot summers in the Midwest provide ample time for agricultural growth. The soil is deep, nutritious, and abundant in organic matter, giving plants the nutrition they need to flourish. The Midwest receives ample water from neighboring rivers, lakes, and wells or through regular rainfall and irrigation systems. Crop planting and harvesting are made simpler by the flat terrain. The Midwest, particularly Illinois, Indiana, Iowa, Kentucky, Michigan, Missouri, Nebraska, and Ohio, is where the majority of United States popcorn is cultivated.
North America has traditionally been the largest market for popcorn globally. The trend of healthy snacking has impacted the growth of the popcorn market in the region. Much of this growth can be attributed to the double-digit growth rate associated with ready-to-eat popcorn. The factors driving the growth in the North American region are an increase in the consumption of popcorn in multiplexes, inflated consumption of popcorn owing to its health advantages, and the emergency of microwave popcorn. Also, innovations are creating items leisurely for humankind through machines like the popinator. In order to attain a larger share in the popcorn market in North America, manufacturers are revitalizing their product portfolios by presenting a clean-label ingredient version of the product range through existing brands or new launches.
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Popcorn Industry Overview
The global popcorn market is competitive, with a significant presence of international players and private labels. New entrants focus on tapping niche segments such as gourmet popcorn with new flavors and piggybacking on the health and wellness trends associated with snacking. Key players in the market are ConAgra Brands, Campbell Soup Company, Weaver Popcorn Bulk, LLC, and Pepsico Inc. The market is fiercely competitive piggybacking, and market-leading brands are increasingly focusing on product line expansions to emerge as category winners.
Popcorn Market Leaders
Conagra Brands, Inc.
Campbell Soup Company
Weaver Popcorn Bulk, LLC
The Hershey Company
*Disclaimer: Major Players sorted in no particular order
Popcorn Market News
- In November 2022, the University of Nebraska in Lincoln is working on developing popcorn types with higher levels of lysine, an amino acid that offers popcorn more nutritional value. Conagra Brands, Inc. is funding the research and is already testing two varieties of popcorn that have nearly twice as much lysine as standard popcorn.
- In September 2022, General Mills expanded its Trix cereal brand to the snacking sector with the launch of Trix Popcorn. This launch joins General Mills' brands, Cinnamon Toast Crunch and Cocoa Puffs, a lineup of snackable popcorn.
- In January 2021, PepsiCo's Frito-Lay North America division introduced a new popcorn snack featuring Cheetos 'Cheetle' seasoning. The ready-to-eat popcorn is available in Cheddar (7-oz bags) and Flamin' Hot (6.6-oz bags) varieties for a suggested retail price of USD 3.99, respectively.
Popcorn Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Microwave Popcorn
5.1.2 Ready-to-Eat (RTE) Popcorn
5.2 Distribution Channel
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle East & Africa
184.108.40.206 United Arab Emirates
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Conagra Brands, Inc.
6.3.2 Pepsico, Inc.
6.3.3 The Hershey Company
6.3.4 Campbell Soup Company
6.3.5 Weaver Popcorn Bulk, LLC
6.3.6 Hain Celestial
6.3.7 Quinn Snacks, Inc.
6.3.8 Intersnack Group GmbH & Co. KG.
6.3.9 Proper Snacks
6.3.10 Eagle Family Foods Group LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Popcorn Market Research FAQs
How big is the Global Popcorn Market?
The Global Popcorn Market size is expected to reach USD 7.92 billion in 2023 and grow at a CAGR of 11.10% to reach USD 13.40 billion by 2028.
What is the current Global Popcorn Market size?
In 2023, the Global Popcorn Market size is expected to reach USD 7.92 billion.
Who are the key players in Global Popcorn Market?
Conagra Brands, Inc., Campbell Soup Company, PepsiCo Inc., Weaver Popcorn Bulk, LLC and The Hershey Company are the major companies operating in the Global Popcorn Market.
Which is the fastest growing region in Global Popcorn Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Global Popcorn Market?
In 2023, the North America accounts for the largest market share in the Global Popcorn Market.
Popcorn Industry Report
Statistics for the 2023 Popcorn market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Popcorn analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.