Latin America Meat Snacks Market

Latin America Meat Snacks Market Growth and Forecast (2023 - 2028):

Latin America Meat Snacks Market was worth USD 0.46 billion in 2022 and estimated to be growing at a CAGR of 5.56% to reach USD 0.614 billion by 2028.

Market Overview:

Meat snacks are among the popular snacks which includes traditional beef jerky, meat sticks, sausages, and others. Traditional beef jerky is lean meat trimmed of fat, then cut into stripes and dehydrated and preserved with salt. It is typically low in carbohydrates, fat, calories and provides a high amount of protein. But due to the preservation the product is high in sodium too.

Traditionally, meat snacks were distributed in convenience stores, but due to more demand the retail channels started selling them. Meat snacks has many flavours and recipes which are packed very attractively to draw the attention of customers. The high protein content in the product acts as an energy booster which increases the sales of meat snacks.

Drivers and Restraints:

Increasing demand for ready-to-eat snacks such as meat snacks among customers as they save time and effort, the growing demand for convenience in food preparation, rising consumer awareness regarding nutritional ingredients, increased emphasis on high levels protein intake and increasing disposable incomes are expected to be major drivers for growing demand. The growing number of working women has increased the customers demand for ready meals. However, factors like ethical issues, less preserved time and lack of numbers for packaging are hindering the market.

Latin America Meat Snacks Market Segmentation Analysis:

The Latin America meat snacks market are segmented into product and distribution channel. The product segment has been categorized into jerky, meat sticks, pickled sausages, ham sausages, and pickled poultry meat and others. Jerky holds around 50% of sales in the product category. The demand for jerky is expected to grow rapidly due to the rising awareness about healthy foods and changing snacking habits of the population. Based on the meat type, the market is segmented into poultry, beef, pork and others. Depending on flavours, the market is segmented into original, peppered, teriyaki, smoked and others. On the basis of distribution channel, the market is segmented into convenience Stores, supermarket & hypermarket, grocery Stores, restaurants and others. Supermarket/hypermarket were the preferred distribution channels, accounting for a share of 39% in 2018 due to the presence of a large number of supermarkets and changing retail landscape. Restaurant distribution channel is expected to propel the growth due to the rising cafe culture around the world.

Region Analysis:

Geographically the Latin America Meat Snacks Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in the meat snacks market.

Key Players in the Market:

Major Key Players in the Latin America Meat Snacks Market are

• Jack Link’s
• Conagra foods
• Meat snacks Group
• Hormel Foods
• King Elite Snacks
• Marfood USA
• Tyson Foods