Global Popcorn Market to Gather $22.41 Billion at a CAGR of 12.62% by 2032: The Brainy Insights

Popcorn market size is anticipated to grow from USD 6.83 Billion to USD 22.41 Billion in 10 years: The growing availability of a wide variety of innovative tastes and the growing understanding of the significance of boosting immunity are predicted to positively affect market expansion.

Newark, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6.83 Billion in 2022 popcorn market will reach USD 22.41 Billion by 2032. Market expansion is reliant on the global trend of consumers prioritising wellbeing. Changes in global consumer habits around food and beverage consumption are also having an impact on the market. Convenience stores and super/hypermarkets were forced to close or restrict their operations due to interruptions in the worldwide popcorn supply chain and distribution channel due to the coronavirus outbreak. The COVID-19 pandemic altered consumer purchasing priorities significantly.

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Report Coverage & Details:

Report CoverageDetails
Forecast Period2023–2032
Base Year2022
Market Size in 2022$ 6.83 billion
Market Size in 2032$ 22.41 billion
No. of Pages in Report230+
Segments coveredProduct, Distribution Channel
DriversStrong inclination towards quick-to-eat convenience foods
OpportunitiesRising disposable income-

Key Insight of the Popcorn Market

Asia Pacific is anticipated to expand at the highest CAGR of 14.07% over the projection period.

Asia Pacific is expected to grow at the highest CAGR of 14.07% over the forecast period. Husk, a vegan popcorn brand owned by Scottie Pippen, introduced an organic popcorn line featuring flavours like matcha, coconut water, and kale and broccoli in July 2021.

The microwave popcorn segment is expected to register the highest CAGR of 15.63% over the projected period in the popcorn market.

The microwave popcorn segment is anticipated to grow at the highest CAGR of 15.63% in the popcorn market. The demand for microwave popcorn increased as a result of the COVID-19 pandemic and the falling cost of electronics.

Over the projected period, the B2C segment is expected to register the highest CAGR of 15.27% in the popcorn market.

Over the forecasted period, the B2C segment is anticipated to grow at the highest CAGR of 15.27% in the popcorn market. Major market players are developing e-commerce websites in prospective sectors at a quick pace due to rising internet usage and client choice. The trend of consumers turning to e-commerce is predicted to propel the expansion of this market. Furthermore, consumers can choose from a range of brands to suit their budget because pricing at supermarkets and hypermarkets differ based on the brand. Supermarkets and hypermarkets are expanding their product portfolios in response to the growing consumer demand for salty snacks like popcorn.

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Market Dynamics

Driver: Strong inclination towards quick-to-eat convenience foods

People are more likely to choose quick and ready-to-eat convenience foods than traditional meals because of their hectic lifestyles. In addition, as people's awareness of health issues has expanded, their eating habits have changed dramatically and they feel pressured to consume a healthier diet. Not only is popcorn a beloved snack, but it can also be a quick, easy, and nutritious lunch. The corn kernels are cooked in a kettle, saucepan or hob while mixed with butter or vegetable oil. It's a well-liked, healthful choice for families' breakfast and dinner. The improvements in microwave popcorn are primarily driving the demand for microwaveable popcorn.

Opportunity: Rising disposable income

Growing concerns about eating a balanced diet and rising disposable income will drive growth in the popcorn business in the upcoming years. An improvement in living standards is another aspect that will be crucial to the market's growth in the years to come. The upcoming opening of more commercial venues including stadiums, multiplexes, and movie theatres in developing countries will drive the demand for popcorn. Customers enjoy popcorn because of its various health benefits, making it one of the comparatively healthy foods. This will continue to drive the global popcorn market's growth in the years to come. The increasing use of microwaves as household products is another element that would propel this market's growth in the near future.

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Some of the major players operating in the popcorn market are:

• PepsiCo Inc.
• Weaver Popcorn, Inc.
• The Hershey Company
• PROPER Snacks
• Intersnack Group GmbH & Co. KG.
• Campbell Soup Company
• Quinn Foods LLC
• Conagra Brands, Inc.
• Eagle Family Foods Group LLC

Key Segments cover in the market:

By Product:

• Microwave Popcorn
• Ready-To-Eat Popcorn

By Distribution Channel:

• B2C
• B2B

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

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