RTE Popcorn Market Research Report: Information By Product Type (Savory RTE Popcorn, Sweet RTE Popcorn, Others), End-Use (Household and Commercial), Distribution Channel (Store-Based and Non-Store Based), By Region - Forecast till 2027

RTE Popcorn Market Overview

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. 

Market Dynamics

Drivers

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.

Restraints

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.

Technology Analysis

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.

Segment Overview

By Product Type

• Savory RTE Popcorn: The RTE popcorn market has the product segment that had accounted for the largest market share in 2019 and is projected to remain dominant during the forecast period ending in 2028. There are increasing market demands for savory popcorn among consumers is supporting the growth of savory RTE popcorn during the ongoing forecast period.


• Sweet RTE Popcorn

By Application

• Household: The household segment of the application segment of the RTE popcorn market had accounted for the larger market share in 2019 and is projected to remain dominant during the forecast period. Owing to numerous health benefits associated with RTE popcorns, the global target consumers prefer RTE popcorns as their breakfast.


• Commercial sector

By Distribution Channel

•  Store-Based: The majority of RTE Popcorn is likely to be sold through store-based retailers. This market segment has been further divided into supermarkets & hypermarkets, amongst the rest like the convenience stores, and others. The supermarkets & hypermarkets segment had dominated the market in 2019 and is anticipated to dominate during the forecast period that will be ending in 2028.


• Non-store segment

Regional Analysis

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.

Competitive Landscape

The RTE popcorn market value will rise in the period because of the following market players:

• Conagra Brands, Inc. (US)


• Amplify Snack Brands (US)


• Weaver Popcorn Company, Inc. (US)


• Snyder's-Lance. (US)


• Smartfoods Inc. (US)


• Wyandot Inc. (US)


• American Pop Corn Company. (US)


• PepsiCo (Frito-Lay) (US)


• Quinn Foods LLC. (US)

Recent Developments

• Product launches by the key market players in the RTE popcorn are driving the growth of the global RTE popcorn market during the period. RTE popcorns manufacturers and producers are also focusing on innovation for RTE popcorns by introducing new flavors. For instance, on 9 January 2020, one of the prominent global companies - Pepsico (Fritolay) launched Cheetos popcorn in stores nationwide. All the propelling market factors are anticipated to create substantial growth opportunities for the growth of the global RTE popcorn market.


• The Global RTE Popcorn Market has witnessed substantial growth in recent years, as a part of the forecast period that will be ending in 2028. The outbreak of the global pandemic has created lucrative opportunities for RTE popcorn manufacturers across the globe. There are various health benefits offered by the RTE popcorn and other prominent products on the market. Other drivers that are expected to fuel the growth of the global RTE popcorn market include frequent product innovations and the booming organized food sector.


• Innovative marketing campaigns through social media handles have proved to be an innovative marketing strategy uplifting the market growth. An increase in the health benefits for RTE popcorns among the target consumers are supporting the growth of the global market.


• To cater to the trending consumer needs, the global market players belonging to the market share are focusing on the launch of innovative RTE popcorns flavors such as kettle corn, strawberry, and caramel. Furthermore, there has been a huge rise in the quantum of sales of RTE popcorn through supermarkets & hypermarkets is further expected to amplify the growth of the global market during the forecast period that will be ending in 2028. The key players of the global market in the food industry are also entering the RTE popcorn market, looking at the large opportunities the market hold during the forecast period of 2021-2028.

Report Overview

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.