$2.5bn
$XX.Xm
4,342
251
$XXX.Xm
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.
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $2.5bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($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 |
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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.
Ready-to-eat popcorn becomes popular among consumers
Companies in this industry produce popcorn, including ready-to-eat popcorn, microwaveable popcorn and other consumer packages of unpopped popcorn.
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NAICS 31191 - Popcorn Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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...
Learn about an industry's products and services, markets and trends in international trade.
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.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
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...
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.
Companies adapting to changing consumer preferences benefit from higher sales. Consumers are increasingly focusing on healthier products and opting for popcorn products.
Learn about the performance of the top companies in the industry.
Large companies acquire smaller producers to expand their product portfolios. Acquisitions are common in the industry as companies aim to increase their market shares.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
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.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
New product development results in higher R&D spending. This causes other costs to rise as producers allocate more resources toward product testing.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Popcorn Production in the US industry in United States is $2.5bn in 2024.
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.
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.
Over the next five years, the Popcorn Production in the US industry in United States is expected to grow.
The biggest companies operating in the Popcorn Production market in United States are Conagra Brands, Inc. and Snyder's-Lance, Inc.
Producing consumer packages of unpopped popcorn and Producing microwaveable popcorn are part of the Popcorn Production in the US industry.
The company holding the most market share in United States is Conagra Brands, Inc..
The level of competition is moderate and steady in the Popcorn Production in the US industry in United States.