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Popcorn Market
Health-Conscious Consumers & Movie Theaters fuel Growth.
Popcorn's growing popularity as a healthy and convenient snack is driving market expansion.” - Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 17, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Popcorn Market ," The popcorn market size was valued at $9,868.40 million in 2020, and is estimated to reach $18.8 Billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
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📍Popcorn Market Analysis
Popcorn, a popular snack made from maize or corn kernels, is enjoyed worldwide in various settings such as movie theaters, sports events, and homes. It is available in two main forms: ready-to-eat (RTE) and microwave popcorn. The market for popcorn is driven by factors such as increasing health consciousness among consumers, the rise of multiplexes and theaters, and the convenience offered by microwavable popcorn.
📍Segmentation:
💡Type: The popcorn market is segmented into microwave popcorn and ready-to-eat popcorn.
💡End-Use: It is categorized into household and commercial segments.
💡Shape: Popcorn comes in butterfly and mushroom shapes.
💡Region: Analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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📍Market Dynamics:
💡Health Consciousness: Popcorn is perceived as a healthier snack option due to its high fiber, antioxidants, and protein content, driving its popularity among health-conscious consumers.
💡Convenience: The demand for ready-to-eat popcorn is rising due to consumers' preference for convenience over price, especially in busy lifestyles.
💡Commercial Growth: The increase in commercial places like movie theaters and stadiums contributes to the growth of the commercial popcorn market.
💡Regional Trends: North America dominates the market, driven by high corn production and the popularity of popcorn as a snack in theaters and public places. Asia-Pacific is expected to witness the highest growth due to rising populations and the growing entertainment industry.
📍Key Players:
. Amplify Snack Conagra Brands, Inc.
. KP Snacks Limited
. PepsiCo (Frito-Lay)
. Quinn Foods, LLC
. Propercorn
. Diamond Food
. Snyder's-Lance, Inc.
. The Hain Celestial Group, Inc.
. Weaver Popcorn Company, Inc.
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📍Market Trends:
💡Product Dominance: In 2020, ready-to-eat popcorn held the highest market share, driven by health consciousness and convenience.
💡End-Use Growth: The household segment dominated in 2020, while the commercial segment is expected to grow rapidly, fueled by the rise of commercial spaces.
💡Shape Preference: Butterfly-shaped popcorn accounted for the highest market share, attributed to its popularity and higher consumption across various settings.
Overall, the popcorn market is driven by changing consumer preferences towards healthier snacks, convenience, and the growth of commercial spaces, with North America leading the market and Asia-Pacific showing promising growth prospects.
📍Market Challenges:
💡Competition from Alternatives: Popcorn faces competition from other snack options, such as potato chips, pretzels, and nuts, which may offer similar convenience and flavor variety.
💡Health Concerns: Despite its perceived health benefits, popcorn consumption in excess can lead to health issues due to its high calorie and fat content, especially when prepared with added butter or oils.
💡Supply Chain Disruptions: The popcorn industry may face challenges related to supply chain disruptions, such as fluctuations in corn prices, transportation delays, and supply shortages.
💡Regulatory Compliance: Compliance with food safety regulations and labeling requirements, particularly regarding allergen labeling and nutritional information, poses challenges for popcorn manufacturers.
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📍Future Outlook:
The popcorn market is expected to continue growing, driven by factors such as increasing snacking habits, flavor innovation, and demand for convenient and healthier snack options.
Technological advancements in popcorn manufacturing processes, such as improved packaging techniques and equipment automation, are likely to further fuel market growth.
Expansion into new markets, such as emerging economies in Asia-Pacific and Latin America, presents growth opportunities for popcorn manufacturers.
Collaboration with retailers and online platforms for distribution, as well as targeted marketing campaigns to promote the health benefits and versatility of popcorn, are expected to contribute to market expansion.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.
We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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