LONDON--(BUSINESS WIRE)--The global popcorn machine market is expected to grow at a CAGR of more than 5% from 2017-2021, according to a new market research report by Technavio.
Global popcorn machine market segmentation by product and distribution channel
Technavio’s report on the global popcorn machine market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product, including residential models (hot air popcorn machine, round countertop stirring machine /glass machine, stovetop popcorn machine, and microwave popcorn machine) and commercial models (countertop popcorn poppers, automated popcorn vending machine, air popper popcorn machine, gas-powered popcorn machines, popcorn concession carts, freestanding popcorn machines). As projected in 2016, around 53% of the market share originated from commercial models.
Based on distribution channel, the global popcorn machine market has been segmented into hypermarket, department stores, and supermarkets, specialty stores, and online stores. As of 2016, 36% of the market share came from hypermarket, department stores, and supermarkets.
“Consumers prefer buying popcorn machines from stores as they carry a large portfolio of products and provide the required support and information. They also provide advice through some expert customer service personnel. Wal-Mart Stores and Kohl's are examples of department stores, hypermarkets, and supermarkets,” says Narendra Nandaigari, a lead analyst at Technavio for retail goods and services research.
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Global popcorn machine market: competitive vendor landscape
The global popcorn machine market is a concentrated market because of the presence of only a few established players who hold the major share in the market. The key players are competing against each other through innovation in product design and marketing to ensure the growth of the market. Additionally, with the entry of private-labels in the market and increasing competition, vendors in the market are expected to prepare by launching distinguished products and service offerings to maintain sustainability through unique and clear propositions.
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Other topics covered in the report:
Market drivers:
- Surge in product innovation
- Growth of movie industry and increasing popularity of multiplex theatres
Market challenges:
- Decline in microwave popcorn industry
- Availability of other savory snacks
Market trends:
- Digital temperature control feature in popcorn machines
- Growing online retail
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