Ready-To-Eat (Rte) Popcorn Market Size to grow by USD 3447.1 million between 2024-2028
The Ready-To-Eat (Rte) Popcorn Market is segmented by Application (Household and Commercial), Product (Savory, Sweet, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 3447.1 million, at a CAGR of 8.09% during the forecast period. There are several companies that are contributing to the market as per this report. Evolving taste preferences .
By Application, the Household segment is projected to dominate the market size in 2024
The ready-to-eat popcorn market is experiencing significant growth, particularly in the household segment, which is projected to expand at the fastest Compound Annual Growth Rate (CAGR) throughout the forecast period. This trend is driven by the increasing popularity of popcorn globally, with notable markets being the US, Canada, Mexico, the UK, Germany, China, and India. Popcorn has become a staple at picnics, house parties, and social gatherings, leading to its widespread adoption in households. This trend is further amplified by the prevalence of social media content featuring individuals preparing and consuming ready-to-eat popcorn. Recent market entrants include Yoki's innovative launch of the first-ever ready-to-eat popcorn, named Pipoca Pronta.
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By Product, Savory segment is expected to hold the largest market size for the year 2024
The ready-to-eat popcorn market encompasses a savory segment featuring salt, cheese, butter, and other spice-flavored products. To maintain competitiveness, manufacturers prioritize consistent product development and innovation. Consumer preferences are influenced by the inclusion of various ingredients in snack categories. As health consciousness grows, particularly among millennials, there's a trend towards savory popcorn flavors with healthier options, such as sea salt. PepsiCo capitalizes on this trend with its Smartfood Delight Sea Salt Popcorn. The vast array of available ingredients encourages consumers to explore their taste preferences more frequently.
Why is North America forecasted to hold the largest regional market size in 2024?
The Ready-To-Eat (RTE) popcorn market represents a significant growth opportunity for food manufacturers. With increasing consumer preference for convenient and healthier snacking options, the demand for RTE popcorn is on the rise. Key players in this market are focusing on innovation, using natural ingredients, and offering various flavors to cater to diverse consumer tastes. The market is expected to grow at a robust rate, driven by these trends and increasing disposable income.
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Research Analysis Overview
The Ready-To-Eat (RTE) popcorn market is witnessing significant growth due to product innovation and brand extension. Consumers are increasingly seeking healthier snack options, leading to a surge in demand for popcorn, which is rich in polyphenolic chemicals, vitamin B complex, antioxidants, fibers, and proteins. Air-popped popcorn and microwave popcorn are popular choices, offering convenience and portability. Brand giants like PepsiCo Inc. have entered the RTE popcorn market with their Sea Salt and gourmet flavored offerings. Consumers are willing to spend disposable money on these convenient, tasty snacks, especially in multiplexes and convenience stores. The global consumer trend towards personal health and lifestyle changes has fueled the growth of RTE popcorn. The snack's high fiber and antioxidant content make it an attractive choice for health-conscious consumers. Additionally, plant-based proteins and sustainable development are key areas of focus in the RTE popcorn industry. The coronavirus outbreak has further boosted the demand for RTE snacks, as more people opt for home-cooked meals and convenient, long-lasting snacks. The compound annual growth rate (CAGR) of the RTE popcorn market is expected to remain strong in the coming years. E-commerce platforms have also played a crucial role in making RTE popcorn accessible to consumers worldwide.
Market Research Overview
The Ready-To-Eat (RTE) popcorn market falls under the broader category of the global packaged foods and meats industry. This market encompasses food processing vendors that specialize in eliminating microorganisms and extending the shelf life of their products. According to Technavio, the market size is determined by the consolidated revenue generated by the participating vendors, excluding those that manufacture food processing equipment. Notably, the market does not encompass producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. The growth of the global packaged foods and meats market, including RTE popcorn, is influenced by several factors. Primarily, the health benefits associated with the consumption of minimally processed foods, such as popcorn, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C, contribute significantly to market expansion. - The Ready-To-Eat (Rte) Popcorn Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
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