The Global Meat Snacks Market is growing with a compound annual sales growth of more than 7% in the last four years with an annual sale of 2.8 billion (USA) in 2017.
The market is driven by factors like changing lifestyle habits, health awareness and an increase in demand for healthier protein based snacks.Health plays a crucial role in the types of meals consumers eat. Consumers prefer the lunch which is healthy, natural and provides them the energy boost without compromising with the taste.
Meat snacks satisfy many of these requirements and have been cashing in on the trend. Meat snacks are one of the top four food items millennials purchase in convenience stores. Meat snacks have been a star performer in savory snacks, with a minimally processed image and high-protein content that serves as an appetite suppressant and energy booster.
Though the meat snacks market is on an incline; but, more consumers are also increasingly looking outside meats for their protein and Americans are eating more nuts, seeds, legumes, and other plant-based varieties. All of these choices have opened consumers’ palates, but have also put pressure on meat snack companies to appeal to that growing sense of discovery.
Meat type, the market has been segmented into Beef, Pork, Poultry, Salmon, and Others. By flavor type, the market has been segmented into Original, Teriyaki, Sriracha, Peppered, Smoked and Others.
By Outlook type the segmentations are Jerky, Steaks and Strips, Bars, Sticks, Bites, Sausages, and Others. Jerky is the most popular snack in the USA and has the most significant market share among all. Within jerky, pepper is the most popular flavor category, while teriyaki has the most robust growth rate.
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and theMiddle East & Africa.
The US leads the North American Market of Meat Snacks. The sales of meat snacks in the US increased from 1.58 billion in 2009 to almost 2.5 billion in late 2014. Jack Link’s brand is most popular in the US; marginally ahead of Slim Jim.
The major players include Meat Snacks Group, Conagra foods, Jack Link’s, Hormel foods, Oberto, Old Trapper, Tyson Foods, Inc., Bridgford Foods, Klement’s Sausage, Country Archer, and Tillamook Country Smoker.
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