The Popcorn by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Popcorn, The popcorn market size has grown strongly in recent years. It will grow from $28.37 billion in 2023 to $30.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to snack culture, health consciousness, flavor innovation, convenience and portability, movie industry influence..
The popcorn market size is expected to see strong growth in the next few years. It will grow to $42.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to healthy snacking trend, sustainable packaging, flavor diversification, e-commerce growth, global market expansion.. Major trends in the forecast period include plant-based and non-gmo popcorn options, global fusion flavors, online and direct-to-consumer sales, snacking experience enhancements, collaborations and limited edition releases..
The rise in the popularity of snacks and caramel candies is expected to propel the growth of the popcorn market in the coming future. A snack is a smaller food serving that is often eaten between meals and is lighter than a meal. Snacks that are available in different flavors attract customers, and popcorn is often used as a base for sweet and savory snacks, and it is a popular ingredient in caramel candies and other confections. For instance, in November 2022, according to the National Confectioners Association, a US-based trade association that emphasizes the special contribution that chocolate, candies, gum, and mints make to a contented and balanced existence, overall snack revenues climbed by 11.4% in IRI’s multi-outlet plus convenience outlet universe in the first nine months of 2022. Therefore, the rise in the popularity of snacks and caramel candies is driving the popcorn market.
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The popcorn market covered in this report is segmented –
1) By Type: Microwave Popcorn, Ready To Eat Popcorn
2) By Distribution Channel: Hypermarkets Or Supermarkets, Convenience Stores, Online Retail Stores, Other Distribution Channels
3) By End-User: Household, Commercial
Product innovations are a popular trend in the popcorn market. Major companies operating in the popcorn segment focus on product innovation to reinforce their position in the market. It has helped to popularize the introduction of new flavors, which encourages producers to focus on expanding their product developments. For instance, in July 2021, Frit Ravich, a Spain-based snack company, created a new flavor of Chupa Chups popcorn with a watermelon taste. It has unique crunchiness and lightness mixed with one of the summer’s most popular flavors. Chupa Chups is a brand of lollipop that comes in a variety of flavors.
The popcorn market report table of contents includes:
1. Executive Summary
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