Popcorn machine: Key market research findings
- North America dominates the market geographically
- Increasing income levels drives market growth
- Key vendors – Kerry, ConAgra, Diamond Foods, and American Popcorn
Technavio’s market research analysts predict the global popcorn machine market to grow at a CAGR of around 7% between 2016 and 2020. The growth of the market can be accredited to innovations in the healthy popcorn market. Popcorn manufacturers are developing heathier products that are fat-free and gluten free options. For example, Snacks101 offers gluten-free baked popcorn, popped in healthier oils like coconut oil and avoids genetically modified varieties of corn. During 2015, the global popcorn machine market was dominated by North America with a market share of 43%. The increase in the purchase of small kitchen appliances to prepare food and snacks at home is expected to fuel the demand for popcorn machine market in North America during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The improvement of distribution channels plays a key role in the growth of the market. Apart from enhancing their presence on online retail platforms, vendors are developing more holistic distribution channels to cater to all types of customers. This has given rise to omni-channel retailing. Vendors need to ensure that the product receives maximum visibility in the market,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
Increasing income levels is spurring increase in the purchasing power of people. This trend has led to increased expenditure on kitchen appliances. Organized retail stores such as hypermarkets and specialty electronic stores have streamlined supply chain processes and increased the availability of branded and premium quality products in the market. Shortened replacement cycles of appliances and better awareness about product innovations through online and offline channels is driving people to replace older appliances.
The key vendors in the global popcorn machine market include Kerry, ConAgra, Diamond Foods, and American Popcorn. The global popcorn machine market is dominated by a few key players of the small kitchen appliance industry. The market is fairly concentrated with the top players holding the major share in the market. Innovation in product designs and marketing among the leading vendors plays a significant role in the growth of the market. The entry of private labels into the market is increasing. Therefore, to overcome the competition in the market and ensure sustainability, vendors in the market need to distinguish their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Popcorn Machine Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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