Credence Research Inc., a leading market research firm, has released a new report titled “Global Popcorn Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. According to the report, the global popcorn market generated revenue of approximately USD 11.2 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of over 6.50% during the forecast period from 2022 to 2028, reaching around USD 16.34 billion in 2028.
The increasing adoption of instant and ready-to-eat convenient food products due to people’s hectic lifestyles and growing consumer awareness of healthy eating habits are the primary factors driving the market’s growth. The growing number of commercial establishments such as movie theaters, cinemas, and stadiums is also propelling the market’s growth. Additionally, the demand for gourmet and unique popcorn flavors such as sea-salted caramel, rosemary and olive oil, sea salt, and white and chipotle aged cheddar is positively influencing the market.
The report further highlights that the widespread availability of popcorn through online and offline stores worldwide provides lucrative growth opportunities for industry investors. The global popcorn market is categorized into product, flavor, shape, and application. Based on product, the market is segmented into ready-to-eat and microwave. Based on flavor, the market is segmented into sweet, savory, and others. Based on the shape, the market is classified into mushroom and butterfly. Based on the application, the market is categorized into home and commercial.
The market is segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North American region dominated the highest share of the popcorn market in 2021, with the United States and Canada showing high consumer awareness of food product nutrition and health benefits. The major manufacturers in the region contribute to market growth through innovative combinations of popcorn flavors. Furthermore, the availability of raw materials, high disposable income, and the popularity of eating popcorn as snacks in theaters, public places, and sports events are the major factors supporting the growth of the popcorn market in the North American region.
To learn more about the global popcorn market, interested parties can browse the full report at https://www.credenceresearch.com/report/popcorn-market.