The health benefits of popcorn principally contribute to its global popularity as a widely-consumed snack item. With the rising awareness about health benefits, popcorn is being increasingly being looked upon as a healthy snack as it is a rich and concentrated source of various proteins, antioxidants, fibers, polyphenolic compounds, and vitamin B complex.
The ready-to-eat popcorn category has benefited from this shift in perception and change in eating habits as popcorn is a familiar, natural, and trusted. Moreover, popcorn is gluten-free, and finely ground popcorn can replace breadcrumbs to give a crunchy coating to chicken and fish or topped over salads. Thus, such health benefits are expected to drive the growth of the overall global market during the forecast period.
As per Technavio, the product innovation and brand extension to cater to evolving taste preferences of consumers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global ready-to-eat popcorn market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global ready-to-eat popcorn market: Product innovation and brand extension to cater to evolving taste preferences of consumers
There is an increase in preference for savory snacks among consumers, especially the youth, who are eager to experiment and continually seeking different products. Therefore, manufacturers are focusing on product innovation and brand extension by launching several product varieties in terms of ingredients and flavors. Most manufacturers are targeting millennials, a growing health-conscious consumer segment, especially in Europe and the Americas. Increasing consumer interest in ethnic and exotic flavors is pushing vendors to experiment with innovative flavors such as fruit-flavored chutney popcorn and barbecue popcorns. Vendors are also paying attention to strong cultural influences that are specific to countries and regions. Thus, international brands are customizing their offerings in line with local tastes and are launching new flavors of popcorn such as Maple Bacon.
“Along with unique styles and artisanal flavors, innovative packaging techniques are also trending to entice consumers. Several companies are investing in R&D to come up with innovative packaging ideas. Many new packaging formats have been introduced in the market to increase the shelf life of products. Thus, packaging innovations are expected to contribute largely to the growth of the global ready-to-eat popcorn market,” says a senior analyst at Technavio.
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