Popcorn Production in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4281Revenue
$2.5bn
Past 5-Year Growth
Profit
$XX.Xm
Employees
4,342
Businesses
251
Wages
$XXX.Xm
Popcorn Production in the US industry analysis
Popcorn production facilities produce popcorn to be sold in multiple presentations. The United States is the top producer and consumer of popcorn worldwide, partly because of the growth growing demand for ready-to-eat popcorn. Popcorn sales have benefited from increasing per capita disposable income. However, increasingly health-conscious consumers have become wary of high-calorie and high-sodium popcorn products and of the effects microwaves have on food. The ability to adapt to changing consumer preferences by introducing healthier product lines has enabled producers to boost sales. The 2020 pandemic and resulting stay-at-home orders caused demand for snacks to rise, resulting in the largest jump in revenue growth of the decade. Rising disposable income also boosted demand for premium products, such as gourmet and organic popcorn, supporting revenue. These trends have enabled revenue to grow at an estimated CAGR of 0.6% to $2.5 billion over the five years to 2023, including a 0.2% drop in 2023 alone.The rising price of corn over recent years also impacts popcorn prices, which partly determine revenue. Rising demand for ethanol and unfavorable weather conditions led to a jump in corn prices. Large producers with a well-established customer base can efficiently pass down cost increases to consumers, resulting in higher revenue, while smaller producers are often forced to absorb these costs, hindering profit. Producers adapting to growing health-conscious trends by developing healthier products will be able to grow their customer base. This shows that as the industry and consumer preferences evolve, producers that are able to adapt to these changes will benefit from higher returns.Over the coming years, popcorn revenue is likely to slow down, mainly driven by falling corn prices. Producers adjust popcorn prices according to the price of corn; drastic drops in corn prices can lead to weakening revenue. However, rising disposable income and consumers spending more time on leisure activities will protect producers from significant losses. Producers will continue focusing on new product development to adapt to changing consumer preferences, creating new opportunities in the industry. These trends will cause revenue to inch upward at an estimated CAGR of 0.1% to $2.5 billion over the five years to 2028.
Trends and Insights
- Volatile corn prices impact revenue. When corn prices are higher, large manufacturers can pass down cost increases to consumers, boosting revenue, while smaller producers will take a profit cut by absorbing price increases.
- Ready-to-eat popcorn is the largest product segment. This product is highly convenient and often has better nutritional values, making it popular among consumers.
- Remaining near corn farms leads to lower transportation costs. Corn kernels are often heavier to transport than popcorn; producers can lower operating costs by remaining near corn farms.
- Companies adapting to changing consumer preferences benefit from higher sales. Consumers are increasingly focusing on healthier products and opting for popcorn products.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $2.5bn in 2023.
Trends and Insights
Economic conditions boost snacks sales
- Consumers were required to spend more time at home during the pandemic, boosting demand for food and snacks and causing popcorn production to expand.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Improving economic conditions support demand for discretionary products
- As inflation continues to slow down, disposable income is likely to expand. This will enable consumers to spend more on popcorn, which is rarely considered necessary.
Biggest companies in the Popcorn Production in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Conagra Brands, Inc. | 868.7 | 37.4 | 4.3 | |
Snyder's-Lance, Inc. | 246.2 | 72.3 | 29.4 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Unpopped popcorn, consumer packages and Ready-to-eat popcorn. Unpopped popcorn, consumer packages is the largest segment of the Popcorn Production in the US.
Trends and Insights
Ready-to-eat popcorn becomes popular among consumers
- Ready-to-eat popcorn is pre-popped and is often made with coatings and flavorings before being packaged into consumer bags and containers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Cereal Production in the US
- Candy Production in the US
- Cookie, Cracker & Pasta Production in the US
Complementors
- Baking Mix & Prepared Food Production in the US
International industries
- Snack Food Production in Canada
- Potato, Corn and Other Chip Manufacturing in Australia
- Potato Crisps & Snacks Production in the UK
Table of Contents
About this industry
Industry definition
Companies in this industry produce popcorn, including ready-to-eat popcorn, microwaveable popcorn and other consumer packages of unpopped popcorn.
What's included in this industry?
Producing consumer packages of unpopped popcornProducing microwaveable popcorn Producing ready-to-eat popcornCompanies
Conagra Brands, Inc.Snyder's-Lance, Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
GENETICALLY MODIFIED (GM)BIOFUELETHANOLPOPCORN LUNGIndustry Code
NAICS 31191 - Popcorn Production in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Volatile corn prices impact revenue. When corn prices are higher, large manufacturers can pass down cost increases to consumers, boosting revenue, while smaller producers wil...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Ready-to-eat popcorn is the largest product segment. This product is highly convenient and often has better nutritional values, making it popular among consumers.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Remaining near corn farms leads to lower transportation costs. Corn kernels are often heavier to transport than popcorn; producers can lower operating costs by remaining near...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Companies adapting to changing consumer preferences benefit from higher sales. Consumers are increasingly focusing on healthier products and opting for popcorn products.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Large companies acquire smaller producers to expand their product portfolios. Acquisitions are common in the industry as companies aim to increase their market shares.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Conagra Brands, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Snyder's-Lance, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Conagra Brands, Inc., and factors influencing its performance in the industry
- Description and key data for Snyder's-Lance, Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Growing health consciousness among consumers boosts demand for popcorn. This has pushed more consumers toward popcorn products, as it is often considered a healthier snack.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
New product development results in higher R&D spending. This causes other costs to rise as producers allocate more resources toward product testing.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Popcorn Production in the US industry in United States in 2024?
The market size of the Popcorn Production in the US industry in United States is $2.5bn in 2024.
How many businesses are there in the Popcorn Production in the US industry in 2023?
There are 251 businesses in the Popcorn Production in the US industry in United States, which has grown at a CAGR of 2.2 % between 2018 and 2023.
Has the Popcorn Production in the US industry in United States grown or declined over the past 5 years?
The market size of the Popcorn Production in the US industry in United States has been growing at a CAGR of 0.6 % between 2018 and 2023.
What is the forecast growth of the Popcorn Production in the US industry in United States over the next 5 years?
Over the next five years, the Popcorn Production in the US industry in United States is expected to grow.
What are the biggest companies in the Popcorn Production in the US market in United States?
The biggest companies operating in the Popcorn Production market in United States are Conagra Brands, Inc. and Snyder's-Lance, Inc.
What does the Popcorn Production in the US in United States include?
Producing consumer packages of unpopped popcorn and Producing microwaveable popcorn are part of the Popcorn Production in the US industry.
Which companies have the highest market share in the Popcorn Production in the US in United States?
The company holding the most market share in United States is Conagra Brands, Inc..
How competitive is the Popcorn Production in the US industry in United States?
The level of competition is moderate and steady in the Popcorn Production in the US industry in United States.
