United States Popcorn Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

United States Popcorn Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The United States Popcorn Market size is expected to grow from USD 3.52 billion in 2023 to USD 4.61 billion by 2028, at a CAGR of 5.56% during the forecast period (2023-2028).

Popcorn is considered one of the healthier snacking options in the United States. Popcorn contains a variety of nutrients like folate, niacin, riboflavin, thiamin, pantothenic acid, and vitamins B6, A, E, and K. Additionally, popcorn does not have any cholesterol or fat. Due to this, the consumption of popcorn has increased in the country. The rise in disposable income, the increase in the working population, and the trend of on-the-go snacking are driving the market to grow. Consumers are opting for the consumption of popcorn on different occasions, like parties, movie theaters, and other celebrations. Moreover, a significant portion of the population has access to easy on-the-go snacking options due to the increased penetration of these products in the market.

Since transforming consumer habits promote smaller, more frequent meals, consumers tend to buy popcorn more often, which is expected to propel the market shortly. Overall, Americans are interested in indulgent flavors and mix-ins when it comes to popcorn. Every year on January 19, National Popcorn Day is celebrated in the United States. Popcorn has become a very popular snack in the United States due to its availability and variety of flavors. The market players are innovating new flavors for popcorn, which include various gourmet flavors, gingerbread, and other seasonal flavors as well. For instance, in October 2022, Opopop launched a new flavor collection with limited-edition flavor-wrapped popcorn kernels. The flavors include fancy butter, salty caramel, and cocoa mint.

US Popcorn Market Trends

Demand for Convenience and On-the-Go Snacking

The demand for convenience foods is growing faster due to changes in social and economic patterns, increased expenditure on food and beverages, awareness about healthy foods, changes in meal patterns and existing food habits, and the desire to taste new products. Availability of raw materials, high disposable income, and the popularity of eating popcorn as a snack in theaters, at sporting events, and in public places are the major factors that propel the growth of the popcorn market in the country. The availability of snack products like popcorn in supermarkets and hypermarkets is propelling the growth of the market. Popular supermarkets in the country like The Kroger Company, Albertsons Company, and others are growing at a faster rate due to their products' availability in a variety of flavors. Due to their hectic lifestyles, on-the-go snacking is becoming extremely popular, especially among working-class people, teenagers, people living in hostels, and bachelors. Furthermore, the concept of on-the-go snacking is closely associated with the ease of consumption and handling of products, which ready-to-eat popcorn provides. Considering the demand, the market players are launching new products on the market. For instance, in March 2021, Amplify Snack Brands, a subsidiary of The Hershey Co., introduced SkinnyPop Kettle Corn in sweet vanilla and sweet and salty flavors.

Flavor Innovation Set to Drive the Market

The ready-to-eat popcorn category is becoming famous these days due to its availability, ease of handling, and variety of tastes and flavors. The market players are introducing new flavors of popcorn to attract consumers. While popcorn is traditionally considered a healthy snack, consumers are now embracing flavor innovation, driven by the increasing popularity of on-the-go snacking. With the convenience of pre-popped, ready-to-eat popcorn offering the perfect medium for a range of flavors and toppings, consumers today are interested in flavor innovation, both familiar and unexpected, in the popcorn category. Aside from popular traditional and indulgent flavors such as cheese and chocolate or caramel-covered popcorn, a large number of consumers are also purchasing new and innovative flavors that include dried cranberries, candies, and seasonal flavors such as pumpkin spice and gingerbread. Consumers can find a variety of popcorn on the shelf, ranging from heirloom popcorn to exciting, bold flavors made with gourmet salts. More popcorn producers can be seen using avocados, coconut oils, and all-natural sea salt. In April 2021, PepsiCo Inc. combined its ready-to-eat Smartfood popcorn with the flavors of a Krispy Kreme Original Glazed Doughnut in its latest offering.

US Popcorn Industry Overview

The United States popcorn market is highly fragmented and comprises domestic and international players. The market is highly competitive, with major players making major strategic investments to attain the top position in the market. The leading players in the United States popcorn market include ConAgra Foods Inc., Campbell Soup Company, PepsiCo Inc., Groupo Bimbo S.A.B. De CV., and Eagle Family Foods Group LLC.

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