Market Trends of United States Popcorn Industry
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.
