Meat Snacks Market Research, 2026
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 retail industry expansion is supported by rapid increase in economy, coupled with surge in consumption of innovative snacking products such as meat snacks, rise in urbanization, and surge in middle-class population, particularly in the emerging economies. Increase in foreign direct investments (FDI) leads to rise in participation from foreign and private players that further boosts the growth of the retail industry. According to the India Brand Equity Foundation (IBEF), India’s retail sector generated revenue of $641 billion in 2016, and is expected to grow at a CAGR of 10% reaching $1.6 trillion by 2026. In addition, according to the Foreign Agriculture Services (FAOs), China’s total retail sale of consumer goods witnessed a growth of 10.7% in 2015, accounting for $4.49 trillion. This improvement in the retail infrastructure increases visibility and reach of products such as food and other convenience goods, which helps with overall sales of such products. Thus, all these factors together are responsible for the growth of retail network in emerging economies, which is anticipated to drive the growth of the meat snacks market. With varying requirement of target customers, manufacturers have been strategizing on improvising their product offerings, in terms of composition, flavor, and texture. For instance, Jack Link’s, one of the key brands operating in the global meat snacks market have been coming up with products in multiple variants such as original and teriyaki flavors, which are the most preferred flavors by consumers.
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.
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.
By Product Type
TheJerky segment dominates the global Meat Snacks market and is expected to retain its dominance throughout the forecast period.
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.
By Nature
The Conventional segment dominates the global Meat Snacks market and is expected to retain its dominance throughout the forecast period.
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.
By Distribution Channel
The offline segment dominates the global Meat Snacks market and is expected to retain its dominance throughout the forecast period.
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.
By Region
The North America dominates the global Meat Snacks market and is expected to retain its dominance throughout the forecast period.
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.
Meat Snacks Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Nature |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | GENERAL MILLS, INC., Monogram Food Solutions, LLC., CONAGRA BRANDS, INC., Tyson Foods, HORMEL FOODS CORPORATION, Golden Valley Natural, The Meatsnacks Group, Nestle S A, ASSOCIATED BRITISH FOODS PLC, JACK LINK'S, LLC. |
Analyst Review
According to the insights of CXOs of leading companies, rise in awareness about health benefits associated with the consumption of meat products is one of the key factors that help drive the growth of global meat snacks market.
Apart from awareness, continuous evolution of product offerings have been one of the key reasons that contribute to the overall sales of the market. Manufacturers have been continuously focusing on improvising their existing product catalogue, with respect to taste, flavor, texture, and ingredients, which specifically matches the requirements of customer seeking protein snacks or animal protein snacks.
In addition, rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs as online platforms are one of the easiest ways to create awareness about specifications and features of meat snacks products among customers.
The global meat snacks market was valued at US$7.4 Billion in 2018.
The global meat snacks market is expected to be valued at US$11.3 Billion in 2026.
The Meat Snacks Market projected to register a CAGR of 5.50% during the forecast period.
The meat snacks market analysis is segmented on the basis of product type, nature, distribution channel and region.
Associated British Foods plc., Conagra Brands Inc. and General Mills Inc. are some of the active players in the global meat snacks market.
The availability of organic meat snacks products that caters to the requirement of target customers is one of the most influential trend sustaining in the market.
Asia-Pacific region is expected to provide more business opportunities for Meat Snacks Market in coming years.
Jerky segment is the most dominant segment in the global meat snacks market.
The online distribution channel is expected to showcase the fastest growth in the Meat Snacks Market.
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