Global Popcorn Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Popcorn Market 2021 (Includes Business Impact of COVID-19)
Global Popcorn Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global popcorn market report has been segmented on the basis of type, end user, and region.
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The global popcorn market was valued at $12144.43 million in 2020, and is projected to reach $25263.88 million by 2030 registering a CAGR of 7.6% from 2020 to 2030.


Global Popcorn Market: Overview


Popcorn is a snack made of corn or maize kernel that is popped when heated. In other words, corn kernels are heated with butter or vegetable oil in microwave, pot, stove, or kettle in order to make popcorn. It is a rich source of fiber, polyphenolic compounds, antioxidants, vitamin B complex, and other proteins. Popcorn is the most favorite snack consumed in movie theatres, homes, fairs, sports events, and other public places. Presently, popcorns are available in various flavors such as Caramel Corn, Cheese, New Double Butter, Sugar-free Caramel, Bacon Cheddar, and many others. It has many health benefits such as improves digestion, lowers cholesterol level, controls blood sugar, prevents aging, helps in weight loss.


Global Popcorn Market: Dynamics


Increasing consumption of healthy snack among individuals, coupled with health benefits of popcorn are major factors expected to drive growth of the global market during the forecast period. In addition, increasing demand for microwave oven in residential and commercial sector, coupled with growing demand for popcorns in house, office, and others, and high spending capacity are factors expected drive growth of the global market in the near future. Furthermore, increasing number of commercial places such as movie theatres, stadiums, and multiplexes in developing countries, changing eating habits of individuals, and growing demand for vegan snack are other factors expected to support revenue growth in the global popcorn market.

However, availability of other substitutes including chips, nuts, yogurt, and pretzels is a factor which may hamper growth of the global popcorn market.


Global Popcorn Market: Segment Analysis


Among the type segments, the ready-to-eat popcorn segment is expected to account for major revenue share contribution and register significant CAGR in the global market. This can be attributed to increasing number of working population, and various manufacturers focusing on launching new products with different flavors.

Among the end user segments, the commercial segment is expected to account for highest revenue share contribution in the global market, followed by revenue share of the household segment.  This is primarily attributed to, increasing number of theatres, malls, and others, coupled with high disposable income of individuals, especially in developing economies.


Global Popcorn Market: Region Analysis


The market in North America market is expected to account for major share in terms of revenue and is expected to maintain its dominance during the forecast period, owing to high corn production in states such as Iowa, Indiana, Nebraska, and Illinois in the US. In addition, availability of raw materials, increasing disposable income, and high consumption of popcorn as snacks in sports events, theaters, and public places are among some of the other major factors that propel growth of the popcorn market in North America. The Asia Pacific popcorn market is anticipated to grow at a rapid rate in the next 10 years. Increasing demand for popcorns as it is gluten-free and naturally has low fat, calories, and sodium. This is a factor expected to augment growth of the global market.

Global Popcorn Market Segmentation:

Segmentation by Type:

  
Microwave Popcorn
  
Ready-to-eat Popcorn

Segmentation by End User:

  
Household
  
Commercial


Key Market Players included in the report:


  
Conagra Brands, Inc.
  
Eagle Family Foods Group LLC (Popcorn
  
Hershey Company (Amplify Snack Brands Inc.)
  
Intersnack Group GmbH & Co. KG. (KP Snacks Limited)
  
PepsiCo, Inc.
  
Propercorn
  
Quinn Foods LLC
  
Snyders-Lance Inc. (Diamond Food)
  
The Hain Celestial Group, Inc.
  
The Hershey Company
  
Weaver Popcorn Company, Inc.


Below are the key development related to Popcorn Market in 2020 and 2021.


May 2021:Hershey to acquire low-sugar brand Lily’s. The Hershey Co. has entered into a definitive agreement to acquire Lily’s, a maker of low-sugar chocolate products. Financial terms of the transaction were not disclosed. Based in Boulder, Colo., Lily’s markets an assortment of stevia-sweetened chocolate bars, baking chips and other confections such as peanut butter cups and coated nuts and popcorn. A broad offering of flavors spans dark, extra dark, milk and white chocolate style varieties. Products are available in more than 24,000 retail outlets nationwide. Source

November 2020: Bad Monkey Popcorn acquired by Champlain Financial Corporation. Bad Monkey Popcorn, a maker of popcorn and other confectionary products, was acquired by Champlain Financial Corporation and a group of co-investors. Bad Monkeys ready-to-eat and microwavable popcorns are sold through major grocery retail chains, convenience stores, and drugstores. Source

May 2020: Sauer Brands Adds Kernel Seasons Maker Chicago Custom Foods. CCFs popcorn seasonings lead market in snack category company created. Joins iconic family of brands including Dukes Mayonnaise, The Spice Hunter. Sauer Brands Inc., a maker of iconic flavor-enhancing condiments, seasonings and spices including the Dukes Mayonnaise and The Spice Hunter brands, announced that it has closed its acquisition of Chicago Custom Foods LLC.  Chicago-based CCF is a leader in branded popcorn seasonings, a category it created in 2000 with the introduction of Kernel Seasons, now Americas No. 1 selling brand with more than 20 popcorn flavors. CCF has expanded into new food categories recently with brands that include Tasty Shakes oatmeal mix-ins and Veggie Seasons vegetable seasonings. A new line of premium truffle-flavored popcorn seasonings, Truffle Seasons, is set for release later. Source