FDBusiness.com

Popcorn market to grow 7%

 Breaking News
  • Bord Bia’s 2018 Brexit Barometer Results The Irish Government has launched the Bord Bia 2018 Brexit Barometer, a comprehensive survey of 117 Irish food, drink and horticulture companies, representing 48% of the sector’s exporters to the United Kingdom. Over 100 senior industry representatives attended the launch in Bord Bia to hear the report findings. The purpose of the Brexit Barometer is to assess [...]...
  • Cargill Invests in Mouscron Facility to Meet Demand For Belgian Chocolate With the rapid rise in consumer demand for premium, high quality Belgian chocolate, Cargill has invested in a new liquid chocolate production line in its Mouscron production facility in Belgium. This investment increases the company’s capacity to produce milk and dark chocolate and creates up to 10 new local jobs. Cargill’s cocoa and chocolate business will [...]...
  • Heineken Makes Biggest Ever Investment in UK Pub Estate Heineken UK is making its largest ever annual investment in Star Pubs & Bars, investing £44 million during 2018. This investment is more than double the figure invested last year (£20 million) and brings Heineken’s total expenditure on pubs to almost £140 millioin over the past five years.Around a quarter of Star’s 2,900 pubs will [...]...
  • New Starter Culture Secures Mild and Creamy Soft Cheeses Chr. Hansen’s latest launch helps cheesemakers to produce soft cheese that maintains the desired taste and texture. The extension to the DVS® SSC series is the latest addition to Chr. Hansen’s soft cheese starter culture range. The product series now consists of four cultures and is designed to create soft cheese with a mild flavor and [...]...
  • TOP Develops Technology Platform For Dairy Farmers TOP from Wageningen in the Netherlands is developing a technology platform that enables dairy farmers to sell bottled milk from individual cows. With the technology it will be possible to pasteurize and package bottles of milk from individual cows. Dutch consumers will soon be able to buy milk from their very own favourite cow. In the [...]...

Popcorn market to grow 7%

February 11
16:16 2016

transfats_popcornThe global popcorn market is set to grow at a CAGR of about 7% according to Technavio’s latest report, achieving revenues of of over $12 billion by 2020.

In its report, Technavio covers the market outlook and growth prospects of the global popcorn market for 2016-2020. Based on product, the market is classified into two segments, including microwave popcorn and RTE popcorn, of which the microwave popcorn segment led the global popcorn market and accounted for a market share of more than 54% in 2015.

North America was the largest global popcorn market in 2015, according to the company, and accounted for a market share of over 61%. This region has recorded high growth in the past years due to more concentration of snacks companies, such as Kraft, PepsiCo, Great American Popcorn, and Diamond Foods. The popcorn market in North America is set to grow at a CAGR of more than 6% during the forecast period.

In 2014, the US dominated the market and accounted for a market share of about 60% of the global retail popcorn sales. RTE popcorn is driving the popcorn market in the US, contributing around 67% of the market.

According to G Vijay Sarathi, a lead food research expert from Technavio, “Many new launches between 2010 and 2014, including flavours such as maple, green apple caramel, and sour cream and onion, have helped to drive the sales of popcorn. For instance, 479 degrees launched coconut caramel artisan popcorn and Gary Poppins rolled out cheddar and caramel popcorn.”

The popcorn market in Latin America is expected to reach close to $2 billion by 2020, growing at a CAGR of nearly 8%. Mexico and Argentina are the largest importers of popcorn in this region. The per capita consumption in Brazil of microwave popcorn is around 80 grams per year, which exhibits considerable room for growth and is attracting vendors. The strategic partnership between ConAgra Foods and Cargill in October 2014 is an example of vendors tapping the growth potential.

Although the popcorn market is the smallest of Europe’s snack markets, it is expected to show strong and steady growth of over 7% during the forecast period. High popularity can be seen in the accelerating economies of Eastern Europe such as Hungary and Bulgaria, though the UK has by far the largest popcorn market in the region. Popcorn varieties such as posh popcorn, gourmet, and unpopped popcorn are gaining attraction in the European countries.

“Rising interest in ethnic and exotic flavours has also compelled the vendors to experiment with interesting and innovative flavours such as TNT fruit chutney flavoured popcorn in Nigeria and barbeque popcorn by Top of the Pop in South Africa,” said Sarathi.

The popcorn market in APAC is growing tremendously, with a projected CAGR of over 11% by 2020. Rising disposable income and increasing purchasing of snacks are few factors supporting the growth of this region. “A fast growing trend in APAC is gourmet popcorn, which can be shown by the initiation of a retail chain of gourmet popcorn known as Cornery. These chains started in the markets of Indonesia, Malaysia, China, and Thailand due to less availability of such snack providers. It aims to take the first mover advantage and offer a new high quality of popcorn rather than conventional popcorn,” said Sarathi.

About Author

admin

admin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements