New York, October 28, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Popcorn Market in the United States – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” – https: / /www.reportlinker.com/p06155718/?utm_source=GNW
Consumption accounts for 70% of U.S. gross domestic product (GDP), but consumption has collapsed as businesses shut down and households delay major purchases. Manufacturing accounts for 11% of U.S. GDP, but much of that will be disrupted as global supply chains have been hampered by plant closings and companies close factories in anticipation of reduced demand. The United States’ favorite concession stand snack had taken a hiatus as cinemas across the country closed due to the coronavirus. But according to some of the top popcorn suppliers to the United States, sales have actually increased since the country went into lockdown. The popcorn category has had a very good year in the past, with a particularly big jump at the start of the year after the COVID-19 pandemic hit U.S. shores. And with shelter-in-place and the resulting upsurge in over-surveillance in the home continuing to be at least partially in place for months to come, demand for popcorn is expected to continue.
Americans’ demand for snacking is converging on salty rather than sweet. American consumers prefer popcorn more than cookies or candy bars. As a result, the studied market is expected to register steady growth during the forecast period. Per capita popcorn consumption has increased from 42 liters per year in 2017 to 47 liters in 2020, as reported by the United States Department of Agriculture and the Popcorn Board.
A growing trend towards the fusion of snacks and caramel candies is observed in the market. Additionally, with the busy schedules and time constraints of the working population in the United States, the demand for RTE (ready to eat) popcorn is expected to increase during the forecast period. Considering this factor, many top companies are entering the RTE popcorn segment.
Key market trends
Request for convenience and on-the-go snacks
The demand for ready meals is increasing at a faster rate due to changes in social and economic models, as well as increased spending on food and beverages, awareness of healthy foods, changes in meal patterns and existing eating habits; and the desire to taste new products.
The United States is the world’s largest convenience food market. The availability of raw materials, high disposable income, and the popularity of eating popcorn as a snack in theaters, sporting events and public places are the major factors that are propelling the growth of the popcorn market in the country.
Snacks on the go are becoming extremely popular, especially among working class people, teens, hostels, and singles due to their hectic lifestyles. In addition, the concept of snacking on the go is closely associated with the ease of consumption and handling of the products offered by ready-to-eat popcorn.
Today, consumers are spending less time in traditional grocery shopping due to busier schedules. For this reason, they are also not able to take time for good meals. Hence, they opt for on-the-go snacks to satisfy their hunger.
In addition, a significant portion of the population has access to easy-to-go snacks due to the increased market penetration of these products. As changing eating habits favor smaller and more frequent meals, consumers tend to buy popcorn more often, which is expected to propel the market in the near future.
Flavor innovation poised to drive the market
While popcorn has traditionally been considered a healthy snack, Americans are now embracing innovation in flavor, from the greediest to the most salty, thanks to the increasingly popular ready-made popcorn category. eat (WFP). With the convenience of ready-to-eat popcorn providing the perfect carrier for a range of flavors and toppings, today’s consumers are interested in flavor innovation, both familiar and unexpected, in the world. popcorn category. Besides the traditional and gourmet flavors like cheese and chocolate or caramel coated popcorn which are popular, a large number of consumers are also buying innovative new flavors which add dried cranberries, candies and seasonal flavors like spices to. pumpkin and gingerbread.
Overall, while Americans are interested in flavors and indulgent mixes when it comes to popcorn. Natural options have their place in the grocery cart, as nearly half of popcorn consumers are interested in purchasing all-natural varieties. Butter and caramel flavors have been the leaders in the US popcorn market for the past two years.
Consumers can find a variety of popcorn on the shelves, ranging from traditional popcorn to exciting and bold flavors made with gourmet salts. More and more popcorn producers are using avocado, coconut oils, and all-natural sea salt.
The popcorn market in the United States is highly fragmented and includes both domestic and international players. The market is very competitive, with the main players making major strategic investments in order to reach the first place in the market. The major players in the US popcorn market are ConAgra Foods Inc., Campbell Soup Company, PepsiCo Inc., Popcornopolis LLC, Eagle Family Foods Group LLC, Copper Kettle Popcorn, Weaver Popcorn Bulk LLC, The Hershey Company, Quinn Foods LLC, American Pop Corn Company, Newman’s Own Inc. et al.
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