Project report for Popcorn manufacturing

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In India, Popcorn categorized as a fast shedding its image as an accompaniment for movie watching, into a light snack that satiates consumers while being light on calories. This property has led to the phenomenal growth of the ready-to-eat popcorn category. In addition to traditional flavors such as salted, cheese and caramel, the brand is also available in gourmet flavors such as sea-salted caramel, white cheddar, rosemary and olive oil, sea salt, and chipotle aged cheddar. From the perspective of satiating consumer needs, both from an indulgence and health point of view, as well as because of its inherent ability to tap the best of emerging distribution channels such as online retail, the RTE popcorn segment is expected to drive the overall growth of the popcorn category.

Popcorn is a variety of corn kernel which expands and puffs up when heated; the same names are also used to refer to the foodstuff produced by the expansion. A popcorn kernel's strong hull contains the seed's hard, starchy shell endosperm with 14–20% moisture, which turns to steam as the kernel is heated. Pressure from the steam continues to build until the hull ruptures, allowing the kernel to forcefully expand, from 20 to 50 times its original size, and then cool. Some strains of corn are cultivated specifically as popping corns. Popcorn is one of six major types of corn, which includes dent corn, flint corn, pod corn, flour corn, and sweet corn.

Market potential & Strategy

Popcorn market in India registered a positive compound annual growth rate (CAGR) of 21.18% during the period 2019 to 2025 with a sales value of INR 7,20300.79 Crores in 2019, an increase of 17.47% over 2018. The market achieved its strongest performance in 2019, when it grew by 25.35% over its previous year and its weakest performance in 2018, when it increased by 16.92% over 2020. The Indian popcorn market expected to rise with a double digit CAGR during the forecast period from 2020 to 2026. The adoption of western culture and rise in disposable income are the prime reasons backing the lucrative growth of the market. Furthermore, growing awareness regarding fitness has changed the preference of the industry towards healthy food, which aids in the high consumption of the popcorn. The high-profit margin being provided by the popcorn business is also inducing a major change in India's agriculture. The popcorn market in India has witnessed huge development over the past few years, with popcorn becoming a preferred munching snack for people, especially in the urban areas. The popcorn market in India is dominated by the unorganized sector with more than 60% of the share in the overall market. However, the scenario is expected to change due to the growth in the number of multiplexes and popularity of in-home popcorn.

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