ID: MRFR/F-B & N/8944-HCR | 90 Pages | Author: Snehal Singh | June 2023
RTE Popcorn Market Size is anticipated to reach USD 5.83 Billion by 2028, registering a CAGR of 7.9% during 2021-2028.
The Global RTE Popcorn Market size is projected to reach approximately USD 5.83 Billion by the end of the period in 2028. The global market is likely to expand at a global CAGR of 7.9% from 2021 to 2028.
Popcorn is a popular snack that is made from maize or corn kernel. Ready-to-eat popcorn is a popular snack all over the world for the convenience and ease offered to various populations and consumer groups. Popcorn offers various health benefits such as lower risks of diabetes, heart disease, hypertension, and weight management, and hence, the preference for the same is rising during the ongoing forecast period that will be ending in 2028. Popcorn which is a prominent product of the global RTE popcorn market, is known to be rich in antioxidants, helps in metabolism, controls blood sugar levels, and supports healthy bone function. An increase in consumption of ready-to-eat popcorn at home as well as in multiplexes theatres is driving the growth of the global market during the forecast period that is projected to be ending in 2028. Furthermore, there has been a rise in disposable income amongst the global target audience and lifestyle changes are supporting the growth of the global RTE popcorn market.
COVID 19 Analysis
The outbreak of the novel COVID-19 pandemic has resulted in the implementation of the permanent and temporary lockdown across regions, border restrictions, and breakdown of transportation networks. The COVID-19 outbreak has flipped the growth switch in every sector of the economy especially in 2019-2020. The outbreak of the novel coronavirus pandemic has forced countries all over the world to impose the lockdown. The outbreak of COVID-19 has, however, resulted in a surge in demand for RTE popcorn around the world since its sudden arrival in Wuhan, China.
The RTE popcorn market value is witnessing the emergence of support and increase in the consumption of ready-to-eat popcorn at home as well as in multiplex theatres. An increase in consumption of RTE popcorn while watching a movie at multiplexes is driving the growth of RTE popcorn globally after normalcy is attained post the curb of the pandemic. This is in turn, boosts the growth of the global RTE popcorn market during the period. The market is also witnessing a huge rise in disposable income and changes in lifestyle further fuel the market growth. The market is witnessing the advent of effective marketing strategies and eCommerce platforms.
However, the global market is witnessing a huge rise in the consumption of popcorn that is likely to create serious health issues that might hamper the global growth of the market that has been predicted for the forecast period that will be ending in 2028. Also, the reduction in the spending ability of the market target audience followed by a reduced demand because of the introduction of the coronavirus pandemic is creating issues for the global market during the period that ends in 2028.
An increase in the standard of living is another aspect largely contributing towards the market growth in the coming years, as a part of the forecast period of 2021-2028. An increasing number of commercial places, for example, stadiums, movie theatres, and multiplexes in developing regions are stimulating demand for the global popcorn market in the foreseeable future that ends in 2028, too. The various benefits associated with the products make consumers prefer comparatively healthy foods such as popcorn, therefore driving growth in the global popcorn market during the forecast period. Furthermore, the trends that support the increasing usage of microwaves as household products are another factor triggering growth in this market shortly.
By Product Type
By Distribution Channel
The North America segment had accounted for the largest market share of the global RTE popcorn market in 2019. The key country-level market of the North American market includes the US, Canada, and Mexico. The US is the major market of RTE popcorn in the North American region. The health benefits offered by RTE popcorn are expected to drive the growth of the global RTE popcorn market ending in 2028. The presence of key players of RTE popcorn in the global region is further witnessing the growth of the market.
The European region had also accounted for the second-largest share of the global RTE popcorn market in 2019 and is further, emerging as a lucrative market for the RTE popcorn manufacturers. The presence of RTE popcorn players in the UK, Germany, France & Spain creates significant opportunities for the existing market players. Increasing spending on snacks in multiplexes & theatres is also cumulatively driving the growth of the market in the European region.
The RTE popcorn market value will rise in the period because of the following market players:
The global RTE popcorn market report has been prepared to understand the impact of the novel coronavirus pandemic on the market operations that are likely to propel in the international market during the ongoing forecast period. The global market report also helps to highlight the global market trends and the basis of the market segmentation to meet the rising needs of the audience that is spread in various global locations. The report also covers the competition of the market and the recent developments that have been undertaken during the period holding positive and expansion aspects.
|Market Size||USD 5.83 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, End-Use, Distribution Channel, By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Conagra Brands, Inc. (US), Weaver Popcorn Company, Inc. (US), Amplify Snack Brands (US), Snyder's-Lance. (US) (Germany), American Pop Corn Company. (US), Wyandot Inc. (US), Smartfoods Inc. (US), PepsiCo (Frito-Lay) (US), Quinn Foods LLC. (US)|
|Key Market Opportunities||
|Key Market Drivers||
The North American market is likely to emerge as the largest region in the global market.
The global market is likely to attain a global market CAGR of 7.9% during the ongoing forecast period that will be ending in 2028.
The global market is likely to reach a final market revenue worth USD 5.83 billion.
Key Questions Answered
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