Global Popcorn Market Size, Share, Growth Analysis, By Product (Ready-To-Eat Popcorn and Microwave Popcorn), By Distribution Channel (B2B and B2C (Supermarkets/Hypermarkets, Convenience Stores)) - Industry Forecast 2023-2030

Global Popcorn Market size was valued at around USD 5.2 billion in 2021 and is expected to rise from USD 5.78 billion in 2022 to reach a value of USD 13.53 Billion by 2030, at a CAGR of 11.2 % over the forecast period (2022-2030).

The global expansion of the popcorn market is driven by a significant consumer trend towards health and well-being. Additionally, changing consumer behavior, particularly in the snack food category, has played a crucial role in driving this market's growth. The outbreak of the COVID-19 pandemic has had a substantial impact on the popcorn supply chain and distribution systems worldwide, leading to the closure and regulation of convenience stores and supermarkets. In recent times, consumer priorities have shifted towards personal health and sustainable development, which has transformed what were once considered "niche" interests into top purchasing priorities, especially concerning food choices. Consequently, the demand for plant-based proteins and sustainably produced food has surged, as consumers increasingly seek wholesome and practical options. The pandemic has also caused a significant change in consumer expectations, with people now making purchasing decisions based on sustainability and health consciousness. Flavor-infused popcorn has further driven the market, with consumers seeking diverse and exciting taste options. The ready-to-eat (RTE) snacks segment is significantly impacting the food and beverage industry due to the rising global demand for quick and convenient snack options. RTE popcorn, being a part of this segment, has witnessed a surge in popularity, primarily driven by the increasing demand for gourmet flavored options. Companies like PepsiCo, Inc. have capitalized on this trend by introducing new and mouthwatering flavors like Smartfood Delight Sea Salt Popcorn, which has gained popularity among consumers. To gain a competitive edge, RTE popcorn companies are focusing on attractive product packaging, offering a wide range of products, and utilizing online platforms for product promotion. Top-down and bottom-up approaches were used to estimate and validate the size of the Global Popcorn Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Popcorn Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global popcorn market is segmented based on product, distribution channel, and region. In terms of product, the market is classified into ready-to-eat popcorn and microwave popcorn. Based on distribution channels, the market is categorized into B2B, B2C (supermarkets/hypermarkets, convenience stores, online). Based on region the global popcorn market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver:

Popcorn's popularity as a healthy snack choice has surged due to its lower calorie and fat content in comparison to alternative snacks such as chips and cookies. The rising awareness of health among consumers has led to an increased demand for popcorn in the market.

Restraint:

The fluctuating prices of raw materials, such as corn kernels used in popcorn production, can have a significant impact on manufacturers' profitability and may act as a limiting factor for the growth of the market.

Market Trends:

The demand for flavored popcorn is on the rise, with consumers showing a growing interest in unique options like caramel, cheese, and chocolate-covered varieties. Popcorn manufacturers are responding to this trend by introducing innovative flavors to cater to customer preferences. Health-conscious consumers are driving the increasing demand for organic and non-GMO popcorn as they consider it a healthier choice. Popcorn manufacturers are aligning with this preference and introducing organic and non-GMO popcorn products to meet the market demand. Gourmet popcorn is gaining popularity among consumers due to its use of high-quality ingredients and distinctive flavor profiles. As a result, smaller popcorn manufacturers are emerging, offering artisanal and premium popcorn products to cater to this growing trend. The convenience factor is crucial for modern consumers who seek ready-to-eat snack options that can be enjoyed on-the-go. The ready-to-eat popcorn segment is experiencing significant growth as a result of this consumer preference.

Embracing the digital era, popcorn manufacturers are also capitalizing on the growing popularity of online sales channels. By selling their products online, they provide increased accessibility and convenience for consumers, thereby contributing to the overall growth of the popcorn market.