Portland, OR — The global market for popcorn is anticipated to surpass $15 billion by 2023, representing a compounded annual growth rate of 7.6 percent, according to Allied Market Research.
The sector’s health halo and consumer preference for convenience foods will help propel the market, in addition to a significant rise in movie theaters and multiplexes in developed countries, the research company reports.
The Asia-Pacific region is expected to see the highest growth during the period, followed by Latin America. The North American market is projected to grow 6.9 percent by 2023.
During 2016, ready-to-eat popcorn accounted for approximately two-thirds of the market and is expected to grow 8.1 percent during the forecast period.