Popcorn Market Size, Share, Growth Analysis, By Product(Ready-To-Eat Popcorn and Microwave Popcorn), By Distribution Channel(B2B and B2C (Supermarkets/Hypermarkets, Convenience Stores) - Industry Forecast 2024-2031

Global Popcorn Market size was valued at USD 5.78 billion in 2022 and is poised to grow from USD 6.43 billion in 2023 to USD 15.03 billion by 2031, growing at a CAGR of 11.20% during the forecast period (2024-2031).

The global consumer trend towards health and well-being is crucial to the global popcorn market's expansion. Global consumer behavior trends for food and drink items as snacks are another factor driving the market. The coronavirus outbreak impacted the world's popcorn supply chain and distribution system, which led to the closure and regulation of convenience stores and super/hypermarkets. A substantial change in consumer purchasing priorities was brought on by the COVID-19 epidemic.

Once considered "niche" interests, the rise in consumer concerns about personal health and sustainable development are now top priority, especially when it comes to food purchases. Plant-based proteins are more sought-after than ever, and demand for wholesome, practical, and sustainably produced food is rising. The pandemic resulted in a huge change in consumer expectations, and thus, people are making personal purchasing decisions based on sustainability and are trying to make more health-conscious purchases. Furthermore, the market is being driven by consumer demand for flavor-infused popcorn.

The food and beverage industry is being considerably impacted by the rising demand for ready-to-eat snacks worldwide. The majority of the market's products are ready-to-eat (RTE). The rising demand for gourmet flavored RTE popcorn is attributed to an expanded selection of mouth watering new flavors, consistent product development, and innovation. For instance, PepsiCo, Inc. notes the growing popularity of the sea salt flavour.is leveraging this trend with their Smartfood Delight Sea Salt Popcorn. Companies in the RTE popcorn sector are working to gain market share by offering appealing product packaging, a wide range of products, and online product promotion.

Popcorn is now available to customers all around the world thanks to e-commerce or internet retail. Major market players are constructing e-commerce websites quickly due to rising internet usage and consumer demand for shopping apps. Online businesses offer special rewards to people who join their online community in addition to discounts and one-of-a-kind bargains. Because more people stayed at home during the COVID-19 pandemic, there was an increase in the demand for microwave popcorn. Another significant reason fueling the demand for the product is the need for microwaveable popcorn, which has increased as more homes have microwaves.

US Popcorn Market is poised to grow at a sustainable CAGR for the next forecast year.