Market Overview
RTEPopcorn Market Analysis is all set to touch close to USD 5.83 Billion by 2027,
reveals Market Research Future (MRFR). During the analysis period (between 2020
and 2027), the market size can expand at a rate of 7.9%, also confirms MRFR.
Primary Boosters and Deterrents
TheCOVID-19 outbreak has facilitated the transition to e-commerce, as online
shopping has garnered a lot of traction among consumers. This factor has
favored the RTE Popcorn MarketAnalysis to a large extent. Surging consumption of ready-to-eatmeals on account of the high prevalence of hectic lifestyles of the students,
working professionals, and college grads contributes significantly to the
market growth. The spike in the demand for minimally processed and
additive-free foods that have extended shelf life such as ready to eat popcorn
further benefits the global industry.
Readyto eat popcorns are relatively lower priced compared to the alternatives available
in the market, given the fact that they are precooked. Their high availability in
the market all year round adds to the market value as well, while media as well
as print advertisements also boost the brand awareness among the consumers. Reputed
industry participants frequently introduce new flavors to accommodate the
constantly changing preferences and tastes of the consumers, which also helps strengthen
their worldwide position.
To citean instance, in June 2021, Opopop, a fast-emerging Microwave popcorn startup,
has managed to raise USD 5 million, ahead of its latest product launch. The
brand is about to launch a direct-to-consumer ready to eat popcorn, Flavor
Wrapped Popcorn Kernels, based on a technology that flavor coats every kernel
right before popping. These popcorns will be sold in six new flavors, including
Fancy Butter, Salted Umami, Maui Heat, Chedapeno, Vanilla Cake Pop, and
Cinnalicious.
Segmental Analysis
Dependingon product type, sweet RTE popcorn as well as savory RTE popcorn are the top
segments. Savory RTE popcorn segment forms the biggest share in the global
market and should remain at the top all through the analysis timeframe.
Keyapplications of RTE popcorn are commercial and household. Household is the
leading segment and will continue to thrive all through the conjectured period.
Thanks to the several health advantages of RTE popcorns, families are
increasingly opting for them to be consumed as breakfast.
Distributionchannels covered in the research study include non-store and store-based. A
large percentage of the total sales is carried out by the store-based
retailers. As a result, the segment, which is dissected into convenience
stores, and supermarkets & hypermarkets, will rule the worldwide market in
the coming years.
Regional Insight
NorthAmerica will be exhibiting maximum growth in the next few years, emerging as
the market leader. The United States is touted to stand as the top performer in
North America, given the large preference for convenience food along with the
surging focus of the players on infusing healthy ingredients in the ready to
eat meals. With several of the brands launching creative packaging while adhering
to the stringent regulations, the region is bound to witness further growth in
the year to come. The intense market demand in the region can also be
accredited to the huge popularity of RTE popcorns among the youth as well as
the working professionals that lead busy lifestyles.
The AsiaPacific market would perform tremendously in the next several years, as a
result of the burgeoning population with improving financial conditions. The
drastic increase in the consumers’ disposable incomes, better living standards and
the rapid industrialization in China and India will also elevate the market
share in the region.
Top Market Firms
Snyder's-Lance.(US) (Germany), American Pop Corn Company. (US), Conagra Brands, Inc. (US),
Smartfoods Inc. (US), Weaver Popcorn Company, Inc. (US), PepsiCo (Frito-Lay)
(US), Quinn Foods LLC. (US), Wyandot Inc. (US), Amplify Snack Brands (US) are
the biggest RTE popcorn brands in the market.
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