Popcorn Market To Reach $18.8 Billion By 2031: Allied Market Research

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Popcorn Market

Allied market Research projects a robust CAGR of 5.3% for the popcorn market, driven by health-conscious consumer trends and expanding commercial spaces.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 2, 2024 /EINPresswire / -- According to the latest report from Allied Market Research titled "Popcorn Market ," the market was valued at $9,868.40 million in 2020. It is projected to reach $18.8 billion by 2031, with a compound annual growth rate (CAGR) of 5.3% from 2022 to 2031.

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Popcorn, a beloved snack crafted from maize or corn kernels, enjoys global popularity across diverse settings including movie theaters, sports events, and households. Available primarily in two forms-ready-to-eat (RTE) and microwave popcorn-the market for this delectable treat is propelled by several factors including heightened consumer health consciousness, the proliferation of multiplexes and theaters, and the convenience offered by microwavable options.

📍Segmentation

💡Type: The popcorn market is segmented into microwave popcorn and ready-to-eat popcorn, catering to varying consumer preferences and convenience needs.
💡End-Use: Popcorn consumption is categorized into household and commercial segments, reflecting the different consumption patterns and contexts in which popcorn is enjoyed.
💡Shape: Popcorn comes in two main shapes-butterfly and mushroom-offering consumers options in terms of texture and eating experience.
💡Region: The market analysis spans across key regions including North America, Europe, Asia-Pacific, and LAMEA, each presenting unique dynamics and opportunities for market players.

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📍Market Dynamics

💡Health Consciousness: Popcorn's perceived health benefits, including its high fiber, antioxidants, and protein content, drive its popularity among health-conscious consumers, contributing to market growth.

💡Convenience: The increasing demand for ready-to-eat popcorn stems from consumers' preference for convenience over price, particularly in busy lifestyles, fueling market expansion.

💡Commercial Growth: The proliferation of commercial establishments such as movie theaters and stadiums fuels the growth of the commercial popcorn market, as popcorn remains a staple snack in these venues.

💡Regional Trends: North America dominates the market, driven by abundant corn production and the widespread popularity of popcorn as a snack in theaters and public places. In contrast, the Asia-Pacific region is poised for significant growth due to rising populations and the expanding entertainment industry.

📍Key Players:
. Amplify Snack Conagra Brands Inc.
. KP Snacks Limited
. PepsiCo (Frito-Lay)
. Quinn Food 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: Ready-to-eat popcorn emerged as the leading product category in 2020, driven by growing health consciousness and the convenience it offers to consumers.

💡End-Use Growth: While the household segment dominated in 2020, the commercial segment is poised for rapid expansion, propelled by the increasing presence of commercial spaces like theaters and stadiums.

💡Shape Preference: Butterfly-shaped popcorn enjoyed the highest market share, owing to its widespread popularity and greater consumption across various consumption settings.
The popcorn market is shaped by evolving consumer preferences towards healthier snacks, convenience, and the proliferation of commercial spaces, with North America leading the market and Asia-Pacific exhibiting promising growth prospects.

📍Market Challenges

💡Competition from Alternatives: Popcorn faces stiff competition from alternative snack options such as potato chips, pretzels, and nuts, which offer similar convenience and flavor variety, posing a challenge to market growth.

💡Health Concerns: Despite its perceived health benefits, excessive consumption of popcorn can lead to health issues due to its high calorie and fat content, especially when prepared with added butter or oils, highlighting a potential barrier to sustained market growth.

💡Supply Chain Disruptions: The popcorn industry is susceptible to supply chain disruptions, including fluctuations in corn prices, transportation delays, and supply shortages, which could impact production and distribution.

💡Regulatory Compliance: Ensuring compliance with food safety regulations and labeling requirements, particularly regarding allergen labeling and nutritional information, presents challenges for popcorn manufacturers, necessitating meticulous attention to regulatory standards to maintain consumer trust and market access.

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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 to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging 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 data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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