According to a market report, published by Sheer Analytics and Insights, The global popcorn market was valued at $8.3 billion in 2021 and it is expected to reach $16.3 billion at a CAGR of 6.2% between 2022 and 2032. People are more likely to choose rapid and ready-to-eat food over conventional meals as a result of their stressful and busy lifestyles. Additionally, as people's awareness of health issues grows, it has radically altered their eating patterns and forced them to consume healthful food. The most popular snack is under the category of quick, easy, and nutritious eating. It is made by heating the corn kernels with butter or vegetable oil in a kettle, pot, or on the stove. In addition, Popcorn is becoming increasingly popular among households as a healthy choice for breakfast and dinner since it is a rich and concentrated source of nutrients like proteins, antioxidants, fiber, vitamin B complex, and others. The demand for microwaveable popcorn is mostly driven by the development of this product. All these benefits and major factors are driving the market growth.
To satisfy consumer tastes and flavor preferences, the producers offer a wide variety of popcorn. The market offers a variety of popular varieties, some of which include mushrooms, butterflies, sweet, and savory. Customers, ranging in age from teenagers to seniors, like to enjoy popcorn at home or in public settings like theatres, stadiums, malls, fairs, and other gathering places. Young customers from nations including the U.S., Germany, the U.K., China, and India seek a wide range of popcorn flavor combinations. Moreover, Due to peoples' busy and stressful lifestyles, instant and ready-to-eat (RTE), handy food products are currently being adopted more frequently worldwide. This is one of the main elements influencing the industry, along with people's increased awareness of healthy eating practices. These primary factors are estimated to propel the market growth during the forecast period.
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Furthermore, the expansion of the industry is being driven by the rising number of commercial locations, such as stadiums, multiplexes, and movie theatres, around the world. Additionally, the industry is being positively impacted by the rising demand for gourmet and distinctive popcorn tastes including sea-salted caramel, rosemary and olive oil, sea salt, white cheddar, and chipotle. Additionally, ready-to-eat popcorn is frequently thought of as a traditional movie treats and is the healthiest substitute for unhealthy snacking. Between-meal snacks of air-popped popcorn can help people resist the temptation of candy and fatty foods. Important manufacturers provide tasty and nutritious ready-to-eat popcorn packets in a variety of flavors, which is helping to drive up demand for the RTE section of the popcorn market. Therefore, these rising factors are projected to create more growth opportunities for the popcorn market across the globe.
Due to their engagement in a holistic approach to health and well-being that covers practically every facet of life, consumers are increasingly more aware of their diets. Urbanization and industry are continuing to grow, which has kept lives busy and frantic. Modern eating habits that deviate from the three-square meal have also been created as a result of these rapid practices. However, some factors are also estimated to hinder the market growth for popcorn throughout the forecast period. For instance, the main barrier to the market for popcorn is the accessibility of substitute snack foods. Additionally, the manufacturing of the product comes at a high initial cost, which is preventing the market for popcorn from expanding.
According to the study, key players dominating the global popcorn market are Conagra Brands (U.S), Catapault Enterprises Ltd (U.K), Campbell Soup Company (U.S), Hain Celestial Group (U.S), Great American Popcorn (U.S), Hershey Company (U.S), Kelso & Company (U.S), PepsiCo Inc (U.S), Popz USA (U.S), Propercorn (U.K), Quinn Foods (U.S), Weaver Popcorn Bulk (U.S), Yildiz Holding (Turkey), among others.
The Global Popcorn Market – by Product Type:
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