Snac World - Official State of the Industry 2021 - 74

POPCORN
STATE OF THE INDUSTRY
STRAIGHT
OUT OF A
MOVIE
A
Blockbuster performance fuels
expectations for the Popcorn market.
As the movie theaters remained closed, popcorn
emerged as a fan favorite for streaming movies, binge
watching and other forms of at-home entertainment.
The savory snack became among the top-selling
munchie in terms of consumption in 2020, and its
surge is expected to continue.
The category is forecasted to rise 8.3% by 2023 versus
lofty 2020 levels, which would make it the fastest-growing
snack, according to The NPD's Group's " Future of
Snacking Report. " In fact, The NPD Group noted that all
forms of snacking benefitted from consumers who bought
bigger and better TVs throughout 2020, and total consumer
spending on video gaming continued to break records,
reaching $18.6 billion in the last quarter of 2020. As a
result, expect the binge watching - and snacking - to
remain strong, despite the reopening of theaters.
During the past year, not only did ready-to-eat (RTE)
popcorn jump at a double-digit rate, volume and unit sales
experienced a strong single-digit pop. Relative newcomer,
Cheetos Popcorn from Frito-Lay, broke into the category
and was named a 2020 IRI New Product Pacesetter, the
only snack in the Top 10. Other brands like SkinnyPop from
Amplify Snack Brands and Cretors bolstered the category
with best-acting performances.
- Dan Malovany
CATEGORY INNOVATIONS
Sweet-flavored popcorn is taking center stage with new varieties
like Candy Pop Snickers popcorn, Cretors dark chocolatey-flavored
variety and Smartfood cobranding with other food companies to
create glazed donut-flavored popcorn, to name a few.
The battle for being the big cheese in popcorn now includes FritoLay's
Cheetos Popcorn and Crunch Pop Mix and Cheez-It Popcorn
with Kellogg Company rolling out a Cheez-It Loaded Popcorn this
year for a limited-time only.
Ethnic and hot-flavored popcorn are making inroads into popcorn
with Snak King's El Sabroso brand cobranding with Tapatio to create
Salsa Picante and Salsa Picante & Lemon varieties and Herr's Fire
Roasted Sweet Corn Flavored Popcorn that also comes in a Firey Hot
option.
62
SNAC WORLD 2021

Snac World - Official State of the Industry 2021

Table of Contents for the Digital Edition of Snac World - Official State of the Industry 2021

Snac World - Official State of the Industry 2021 - Intro
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