Meat Snacks Market by Product Type (Jerky, Sticks, Bars and Others), Nature (Organic and Conventional), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019–2026

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The meat snacks market size was valued at $7.4 billion in 2018 and is expected to reach $11.3 billion by 2026, registering a CAGR of 5.50% from 2019 to 2026.  

The global snacks market was valued at $375 billion in 2015 with North America and Europe witnessing highest rate for snack food consumption. Increase in demand for convenience food products, gradual rise in preference for salty snacks, and increase in disposable income of target customers are some of the key factors behind the overall growth of the market, in terms of value sales. This eventually triggers demand for specialty snacks such as plant-based snacks, dairy snacks, and meat snacks. Meat snacks are a type of convenient food products that are processed with different meat products such as beef, turkey, and pork. Hence rise in demand for specialty snacks products eventually drive the global meat snacks market growth.

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In recent past, consumer have replaced their regular meals with convenience food products as majority of them have a busy lifestyle. This has eventually led to increase in demand for snacking products, which are specifically rich in protein and flavor-packed. For instance, Jack Link, one of the key brands operating in the global meat snacks market, offer beef steak strips in original and teriyaki format that contain eight grams of protein per serving. Hence some of the key features offered by the product paves way for meat snacks market opportunity. 

Millennials, in particular, are driving the snacking trend, and they prefer less-processed items with lower sodium and more natural ingredients with taste and trendy flavors. Hence, some of the key manufacturers in the global market have been strategizing on improvising their product offerings accordingly. For instance, in 2018, Perky Jerky announced relaunching its brand with the view to increase its customer base among millennials. It came up with a wide variety of flavored meat snacks in upgraded packaging formats. Hence rise in preference for healthy snacks among the millennial is an influential factor during meat snacks market forecast.

The global meat snacks market analysis is segmented on the basis of product type, nature, distribution channel, and region. By product type, it is classified into jerky, sticks, bars, and others. By nature, it is bifurcated into organic and conventional. By distribution channel, it is divided into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, Spain, the UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

By product type, the jerky segment accounted to higher value meat snacks market share in 2018. There are various types of meat jerky available in the market, however, beef jerky is the largest category for this snack, accounting for around 50% of the total market. Traditionally, beef jerky was marketed as an affordable, tasty, convenient, low-quality snack, and was primarily sold in convenience stores and gas stations. Some of the characteristic features, such as its taste and comparatively more filling than other snacks, makes it satisfying as well as appealing among customers. Duke’s, Krave, Slantshack, Kings County, and House of Jerky are some of the key brands operating in this segment. 

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By nature, the global meat snacks market is segmented into organic and conventional. The conventional format of meat snack products accounts for a larger value  share due to easy availability of these products at affordable prices. Conventional products are available in multiple variants such as original, teriyaki, mild, and spicy.  Moreover,  product catalogue in this segment is larger than the organic segment i.e. jerky, sticks, bars, sausages, and lunch box snacks. Manufacturers focus on innovations and marketing of s in view of generating higher value sales accordingly. Jack Link’s, SlimJim, Old Trapper, Matador, and Penrose are some of the key brands operating in this segment.

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By distribution channel, the meat snacks market is segmented into online and offline. The offline channel was considered to be the dominant segment in global meat snacks market for the year 2018. Some of the key brick-and-mortar stores such as hypermarkets/supermarkets, specialty stores, and franchisee stores are considered in the offline store segment. Offline stores facilitate variety of options in meat snack products, promoting both branded and private-labelled categories. Moreover, these kinds of stores initiate several key promotional and marketing events such as customer loyalty programs, discounts, and seasonal offers  in to generate higher revenue sales. Thus, the fact that offline stores facilitate easy availability of snacks products for its target customers, helps drive the growth of this segment, in terms of value sales. 

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Region wise, North America was considered to be the dominant region in global meat snacks market size in 2018. The rise in rate of snack food consumption, surge in demand for convenience food products, coupled with increase in number of domestic as well as international manufacturers in the region, has altogether driven the value sales growth of the market. In 2018, American households spent an average of $25.81 per year on meat snacks. Products such as jerky, meat sticks, and popcorns are pretty much popular in the region. With the rise in meat snacks market demand, manufacturers strategize on improvising their product offerings that specifically cater to target customers. Hence, free-form formats of meat snacks have been enduring higher level traction among customers in recent past. Jack Link’s, Old Wisconsin, Slim Jim, and Werner are some of the key brands operating in this region. 

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Key players profiled in the global Meat snacks industry include Associated British Foods plc., Conagra Brands Inc., General Mills Inc., Golden Valley Natural, Hormel Foods Corporation, Jack Links, Monogram Food Solutions, LLC., Meatsnacks Group, Nestle S.A., Tyson Foods, and others. 

Key Benefits for Stakeholders:

• The report provides an extensive meat snacks market analysis of the current and emerging meat snacks market trends and opportunities.
• A comprehensive analysis of the factors that drive and restrict the meat snacks market growth is provided.
• An extensive market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides an extensive qualitative insights on the potential segments or regions exhibiting favorable growth.

 Key Market Segments & Key Market Players