Popcorn Market Report by Opportunity, Demand, Recent Trends, Major Driving Factors and Business Growth StrategiesPosted by Sona Kulkarni on March 4th, 2024 Popcorn Market Growth & Trends The global popcorn market size is expected to reach USD 13.53 billion by 2030, registering a CAGR of 11.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing awareness about health among consumers is propelling the industry's growth. The demand for salty snacks along with innovation in terms of flavors is boosting the growth. New product innovations are becoming more popular among consumers, particularly in the Asia Pacific and North America regions. For instance, in July 2021, a Spanish snack company launched Chupa Chups popcorn in a watermelon flavor. Popcorn is in high demand due to the wide variety of flavors available, which encourages manufacturers to focus on expanding their product line. Moreover, sustainability has become an essential trend in this era as consumers have become more concerned about health, wellness, and environmental issues, such as the depletion of natural resources and environmental degradation. Thus, continuous innovation in terms of product quality, along with packaging design improvements drive customer traction. The ready-to-eat (RTE) popcorn industry is booming with sales growing faster than microwave popcorn due to a rise in gourmet varieties and a reputation as a healthy snack meal. The demand for RTE is expected to grow in developing, countries such as India. With over 50 popcorn flavors and varieties, 4700BC, for example, has seen a 200+ percent increase in retail and e-commerce sales in October 2021. The COVID-19 pandemic affected the industry and caused a significant shift in consumer purchasing preferences. Demand for nutritious, convenient, and sustainably produced foods is increasing, and plant-based proteins are becoming more popular. Consumers are now demanding products that are vegan, natural, organic, clean, reef-friendly, free of GMOs, gluten, & soy, and recyclable. In July 2021, Scottie Pippen, a basketball player, launched a vegan superfood snack business, Husk. Several companies have been working on developing new product lines in both RTE/RTC (Ready-to-Cook) sectors to provide healthy & more versatile products for all-day snacking and better-for-you snacks. In addition, there has been a considerable shift in the channels through which people shop for food and beverage products. The lockdown severely affected this aspect of the snacking industry as most of the brick-and-mortar stores were shut down for weeks. However, there was a significant rise in product sales through e-commerce channels in 2020. More people started buying their food and beverage products online due to the pandemic. Thus, the pandemic fueled product sales through online channels, and the trend is expected to boost online sales in the coming years. Request a free sample copy or view the report summary: Popcorn Market Report Popcorn Market Report Highlights
Access Press Release@ https://www.grandviewresearch.com/press-release/global-popcorn-market Popcorn Market Segmentation Grand View Research has segmented the global popcorn market based on product, distribution channel, and region: Popcorn Product Outlook (Revenue, USD Million, 2017 - 2030)
Popcorn Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
Popcorn Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in Popcorn Market
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author |