Market Overview
The Global Popcorn Market is projected to register a CAGR of 11.2% over the forecast period (2022-2027).
The COVID-19 outbreak had impacted the popcorn market in the early stage as supply chains were disrupted due to lockdown imposed by governments globally. However, due to the stay-at-home or work-from-home trend, popcorn became the major consumable snack because of its health benefits and easy availability in the market. And to further increase the sales, manufacturers introduced different flavors of the popcorn in the COVID-19 period.
An increasing trend toward the fusion of snacks and caramel candies is being observed in the market. Companies are observed to be offering popcorn coated with melted caramels in small packs, which is being advertised as a sweet snack. Due to the rising market trend of ingredient transparency and traceability, companies are now adhering to strict quality standards by including ingredients and packaging formats.
The popcorn market has also seen the influence of the trends driving the larger snacking industry. With the emergence of a wide variety of flavors, consumer choices are shifting towards gourmet popcorn. Moreover, other trends such as all-natural flavors and clean label ingredients are also impacting product launches by companies in the popcorn market.
Key Market Trends
RTE Popcorn Driving Snacking Innovation
Ready-To-Eat popcorn often regarded as a classic cinema treat, popcorns are the best and most nutritious alternative to unhealthy snacks. Snacking on air-popped popcorns in between meals can make consumers less tempted by candies and fatty foods. Key players offer healthy and delicious ready-to-eat popcorn packets in different flavors which is further boosting the RTE segment in the popcorn market. Moreover, with the busy schedule and paucity of time being followed by the working-class population, the demand for the RTE (Ready-to-Eat) popcorn is expected to increase. From the perspective of satiating consumer needs, both from an indulgence and health point of view, as well as because of its inherent ability to tap the best of emerging distribution channels such as online retail, the RTE popcorn segment is expected to drive the overall growth of the popcorn category. Also, there is an increase in demand for popcorn as the young population thrives for a snack that is easily available in the market with a variety of flavors.
Post time: Mar-26-2022