Popcorn Market size to see promising growth from 2022 to 2031 | PepsiCo (Frito-Lay), Propercorn

Popcorn market size was valued at $9,868.40 million in 2020, and is estimated to reach $18.8 Billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Growth in consumption of ready-to-eat popcorn in multiplex theatres is the key factor that drives the popcorn market.

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Busy and hectic lifestyle, surge in inclination atoward ready-to-eat convenient food over traditional meals, and growing awareness regarding health among individuals have boosted the growth of the global popcorn market. However, easy availability of alternative munching food items hinders the market growth. On the contrary, surge in disposable income and desire to live a standard life would open new opportunities in the future.

Popcorn is a type of snack made from maize or corn kernel. It is prepared by heating corn kernels with vegetable oil or butter in pot, stove, kettle or microwave. Owing to its high nutrition content, popcorn is consumed as a snack food all over the world in two forms- ready-to-eat (RTE) and microwave popcorn. Microwave and RTE popcorn are consumed as the most favorite snack at homes as well as at movie theatres, sports events, fairs and other public places.

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Popcorns are rich and concentrated sources of fiber, polyphenolic compounds, vitamin B complex, antioxidants and various proteins. Increase in health consciousness among consumers coupled with health benefits of eating popcorn are contributing to the growth of popcorn market. Significant rise in theatres and multiplexes in developed countries has led to the growth of popcorn market. Moreover, increasing number of microwaves has raised the demand for microwavable popcorn further driving the popcorn market growth.

As per the popcorn market analysis, the market is segmented on the basis of type, end-use, shape, and region. On the basis of type, the popcorn market is classified as microwave popcorn, and ready-to-eat popcorn. By end-use, it is divided into household, and commercial. Depending on shape, the popcorn market is segregated into butterfly and mushroom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By region, the global popcorn market across North America held the largest share in 2020, accounting for nearly three-fifths of the market, owing to high demand for popcorn from household and commercial spaces and surge in demand for on-the-go and ready-to-eat popcorn in the U.S. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 6.5% during the forecast period, due to increase in demand for popcorns at theatres, households, and other commercial spaces.

Key market players

Amplify Snack Conagra Brands, Inc.
PepsiCo (Frito-Lay)
KP Snacks Limited
Quinn Foods, LLC
Diamond Food
Propercorn
The Hain Celestial Group, Inc.
Snyder's-Lance, Inc.
Weaver Popcorn Company, Inc.

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