Meat Snacks Market

Meat Snacks Market Size, Growth, Forecast (2023-2028)

The global Meat Snacks Market size was worth US$ 7.4 billion in 2022, and it is estimated to reach a valuation of US$ 11.3 billion by the end of 2028, expanding at a compound annual growth rate of 5.5% between 2023 and 2028. Meat snacks have become popular due to the demand for available high-protein snack products.

Market Overview:

Meat snacks are food products made from processed meat along with other ingredients. More excellent specific flavor, nutrition and shelf life are the main focus these days for the making of these snacks. Processing includes soaking the meat in solution and drying it for some time. Meat snacks are available in dried meat, sticks, sausages, and other types sold in convenience stores, supermarkets, hypermarkets, online retailers, etc. This product is often available in a variety of flavors, depending on the taste of the consumer.

Recent Developments in Meat Snacks Industry:

• In September 2016, Bell acquired Geiser AG, a specialty food service provider. The acquisition was made to establish the former's influence on the restaurant's distribution channel.
• Hormel® Natural Choice® cold meat manufacturers announced four novel natural cold cuts in July 2017, which includes cheddar or pepper jack cheese, along with dark chocolate candy.
• May 2017: Paleo Friendly Meat Stick is Country Archer Jerky's latest product innovation. They range from 100% adequately fed and finished beef and turkey without antibiotics or additional hormones.
• April 2017: Conagra Brands, Inc. (NYSE: CAG) announced the acquisition of the protein-based snack business by Duke's® meat snack maker Thanasi Foods LLC and seed maker BIGS® BIGS LLC.

REPORT COVERAGE:

Meat Snacks Market Growth:

The surge in disposable income of consumers in emerging nations is a significant driving force for market growth.

Drivers:

The increasing demand for healthy snacks that taste familiar and are suitable for daily consumption is expected to drive market growth. It is supposed to further promote meat snacks as a healthier alternative to the existing product range as consumer awareness of nutritional ingredients increases along with rigorous branding efforts by leading manufacturers. The increasing emphasis on high levels of protein intake among millennial generations is assumed to be a major driving force for increased demand. Progress in R&D activities for developing new flavors that are extracted from natural ingredients is supposed to promote demand for these products in the coming days. The market is presumed to be boosted by introducing new fragrances without including fresh ingredients.

Unstable prices for raw materials, such as beef, pork, and poultry, challenge manufacturers of products that influence their purchasing decisions. The rapid development of new products can lead to a large number of products, which can give consumers too many options. As competition grows fierce, manufacturers must ensure product positioning and innovative marketing strategies to maintain the industry's competitive edge. Sales channels play a vital role in the industrial supply chain, where meat snacks are mass-produced items. Product demand is usually high due to easy access, which is the main differentiator for manufacturers. The global meat snack market is expected to be heavily influenced by the increased use of social media. This scenario in the meat snack market is due to a change in consumer awareness that accompanies the widespread use of smart technology.

Consumer buying patterns may be associated with increased promotion and marketing of new and innovative meat products on online social media platforms in most eye-catching ads. These new products are packaged and advertised in the most attractive way to appeal to the younger generation, who are the most enthusiastic whenever they try new products. Also, these snacks are alleged to be natural and healthy with the addition of protein and omega-3s, which is anticipated to increase sales of meat snack products in the global market. Consumers recognize safe and healthy premiums and premium products produced in a safe environment with the least potential for fraud or food congestion. In regions like MEA, Latin America and the Asia Pacific, sales of meat products are increasing due to premium features.

Additionally, sales are rising due to the convenience of meat snack products. The convenient packaging of meat snacks packed in small envelopes is associated with the growth of sales of meat snacks worldwide. Due to competitive work and social life, most people lead an accelerated lifestyle and prefer ready-to-eat products that are very convenient in nature. As a result, manufacturers are launching products with the highest expected comfort to lead the global meat snack market. According to consumer psychological analysis, health and wellness are key factors that consumers should consider when purchasing food. In addition to health and wellness, flavor and taste are also important factors influencing the sale of meat snacks. Herbs and ethnic characteristics are the most preferred flavors on the market.

Restraints:

Internal studies have been conducted to assess global economic conditions and other economic indicators and their current impact to predict information on each effect on the market historically and in future scenarios.

Meat Snacks Market Segmentation Analysis:

By Product:

• Jerky         
• Meat Sticks            
• Pickled Sausages 
• Ham Sausages      
• Pickled Poultry Meat

By Meat Type:

• Poultry     
• Beef          
• Pork          
• Others  

By Flavours:

• Original    
• Peppered
• Teriyaki    
• Smoked   
• Others     

By Distribution Channel:

• Convenience Stores           
• Supermarket & Hypermarkets      
• Grocery Stores     
• Restaurants           
• Others     

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

As a smart region, North America was considered the dominant area in the global meat snack market in 2018. The increase in snack consumption, the rise in demand for prepared foods, and the increase in national and international manufacturers have boosted growth in market value sales in the region. In 2018, American families spent an average of $ 25.81 per year on meat snacks. Products like jerky, meat sticks, and popcorn are very popular in this area. As the demand for the meat snack market increases, manufacturers come up with strategies to improve customer-delivered product delivery. Therefore, in recent years, the free form of meat snacks has maintained a high level of traction among customers.

Leading Company:

Jack Link's, Old Wisconsin, Slim Jim and Werner are some of the major brands operating in the North American region.

Key Players in the Market:

Major Key Players in the Global Meat Snacks Market are

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