Global Popcorn Machine Market 2017-2021
About Popcorn Machine
A popcorn machine or a popcorn maker is used for popping corn kernels. Popcorn machines come in two categories:commercial models and residential models. There has been an observable shift in consumer patterns across the popcorn industry. People have begun to prefer RTE popcorn to microwaveable popcorn. This is because RTE popcorn can be purchased and consumed conveniently. Many new players like Chia Pop, Pop! Gourmet, and 479° are operating in the RTE popcorn market.
Technavio’s analysts forecast the global popcorn machine market to grow at a CAGR of 5.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global popcorn machine market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Popcorn Machine Market 2017-2021
Technavio recognizes the following companies as the key players in the global popcorn machine market: Conair Corporation, The Legacy Companies, National Presto Industries, Nostalgia Products, and Wabash Valley Farms.
Other Prominent Vendors in the market are: Great Northern Popcorn Company, Jarden Consumer Solutions, Hamilton Beach Brands, and Nordic Ware.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is digital temperature control feature in popcorn machines. Most conventional popcorn machines have old analog temperature controllers. However, in recent times, Popular Steel Industries introduced a new popcorn machine which uses a digital temperature controller. This technology is more suitable for hospitality businesses as they are required to maintain their quality and taste throughout.”
According to the report, one driver in the market is surge in product innovation. Over the past two years, the global popcorn machine market has seen a surge in sales due to the launch of innovative flavored products. For instance, in 2016, PepsiCo, a leader in the food and beverages market launched a popcorn-intensive brand called Pop Works and Company. This brand offers new flavors of popcorn like sticky toffee pudding, peanut butter and caramel, sweet-salty, and apple pie. In December 2016, Popcorn Indiana, a US-based manufacturer of popcorn, launched a new Peppermint-flavored variety called New Dark Fudge Peppermint Drizzle corn.
Further, the report states that one challenge in the market is decline in microwave popcorn industry. The microwave popcorn segment has witnessed a sharp decline in popularity and revenues over the last decade. The microwave popcorn market in the US was valued at $1.4 billion in 2016, while it was valued at $1.6 billion in 2011. The growing awareness of benefits of leading a healthy lifestyle and rising health concerns over the consumption of excessive amounts of oil, preservatives, and fats that are added in popcorn to make them microwaveable, are the main reasons leading to the decline in the demand for microwave popcorn.
Conair Corporation, The Legacy Companies, National Presto Industries, Nostalgia Products, and Wabash Valley Farms, Great Northern Popcorn Company, Jarden Consumer Solutions, Hamilton Beach Brands, and Nordic Ware.