Popcorn Global Market Report 2023
Major players in the popcorn market are Conagra Brands Inc., Pepsico Inc., The Hershey Company, Quinn’s Foods, Weaver Popcorn Bulk LLC, The Hain Celestial Group Inc., Snyder’s-Lance Inc., Intersnack Group GmbH & Co.
New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Popcorn Global Market Report 2023" - https://www.reportlinker.com/p06466495/?utm_source=GNW
KG, Eagle Family Foods Group LLC, Proper Snacks, Amplify Snack Brands, Premier Foods Plc., Greencore Group Plc., Garrett Popcorn Shops, and American Pop Corn Company.
The global popcorn market is expected to grow from $11.62 billion in 2022 to $12.60 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The popcorn market is expected to reach $16.64 billion in 2027 at a CAGR of 7.2%.
The popcorn market consists of sales of popcorn kernels and butterfly popcorn.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Popcorn is a type of corn that puffs up and expands when heated.It is a popular snack food that is typically consumed while watching movies, at carnivals, and homes.
It can be eaten plain or with various seasonings and toppings.
North America was the largest region in the popcorn market in 2022. The regions covered in popcorn report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of popcorn are microwave popcorn and ready to eat popcorn.Microwave Pre-packaged popcorn is designed to be cooked in a microwave oven, offering convenience and quick preparation.
These are distributed through various distribution channels such as hypermarkets or supermarkets, convenience stores, online retail stores, and other distribution channels, to be used by households and commercials.
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. The revenues totalled $44.9 billion, increasing 26% over the pre-pandemic level in 2019. Therefore, the rise in the popularity of snacks and caramel candies is driving the popcorn market.
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 popularise the introduction of new flavours, 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 flavour of Chupa Chups popcorn with a watermelon taste.
It has unique crunchiness and lightness mixed with one of the summer’s most popular flavours. Chupa Chups is a brand of lollipop that comes in a variety of flavors.
In September 2021, Grupo Bimbo, S.A.B. de C.V., a Mexico-based food company, acquired Popcornopolis for an undisclosed amount. This acquisition allowed Grupo Bimbo to enter the popcorn category and increase its product offerings in a different snack food market segment. Popcornopolis is a US-based food production company specializing in gourmet popcorn.
The countries covered in the popcorn market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The popcorn market research report is one of a series of new reports that provides popcorn market statistics, including popcorn industry global market size, regional shares, competitors with a popcorn market share, detailed popcorn market segments, market trends, and opportunities, and any further data you may need to thrive in the popcorn industry. This popcorn market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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