Meat Snacks Market Is Set To Reach 14.86 USD Billion By 2033, Growing At A CAGR Of 3.24

Key Insights

The Meat Snacks Market size was valued at USD 11.89 USD Billion in 2023 and is projected to reach USD 14.86 USD Billion by 2032, exhibiting a CAGR of 3.24 % during the forecast period. Meat snacks are a type of snack food made from meats such as beef, pork, chicken, or turkey among others are all processed and strained foods that provide a convenient source of protein. There are many variations of jerky, thus the number of options: sticks, bars, bites, and others that differ by texture and taste. Some of these snacks are dried, cured, or smoked to extend their shelf life as well as improve the taste. Some of these include; High protein levels, ease of carrying them around, and the many flavors that are available to meet as many people’s tastes as possible. Examples include the use as a snack that one can take when they feel hungry, a meal replacement after exercises among others. Meat snacks fit nicely in a healthy-eating-oriented society that is looking for tasty, and satisfying healthy food types to snack on instead of standard snack types. 

Meat Snacks Trends

• Growing popularity of high-protein diets
• Increasing preference for savory and spicy flavors
• Rising demand for clean-label and organic products
• Growing popularity of online retailing

Driving Forces: What's Propelling the Meat Snacks Market

• Changing consumer lifestyles: With increasing urbanization and hectic schedules, consumers are seeking convenient and portable snacks that align with their fast-paced lives, driving the demand for meat snacks.
• Health-conscious consumers: Rising awareness of health and wellness has led to consumers prioritizing protein intake and seeking healthier snack options. Meat snacks are perceived as a convenient source of lean protein, contributing to their growing popularity.
• Flavor innovation and sensory appeal: Manufacturers are continuously experimenting with new flavors and textures to cater to consumers' evolving taste preferences. Unique and innovative flavor combinations, from spicy and savory to tangy and sweet, are attracting a wider audience.
• Expanded distribution channels: The availability of meat snacks has increased significantly in retail channels such as supermarkets, convenience stores, and e-commerce platforms. This widespread distribution makes meat snacks easily accessible to consumers, further fueling market growth.

Challenges and Restraints in the Meat Snacks Market

• Competition from other snack categories: Meat snacks face competition from other popular snack categories, such as potato chips, tortilla chips, and nuts.
• Price sensitivity: Consumers may be price-sensitive when it comes to meat snacks, especially in emerging markets.
• Health concerns: Some consumers may have concerns about the healthiness of meat snacks, particularly those that are high in saturated fat or sodium.

Emerging Trends in Meat Snacks

• Plant-based meat snacks: Plant-based meat snacks are gaining popularity among consumers who follow vegan or vegetarian diets.
• Naturally sourced and functional ingredients: Consumers are increasingly seeking meat snacks with naturally sourced and functional ingredients, such as herbs, spices, and antioxidants.
• Sustainability: Manufacturers are becoming more focused on sustainability, using eco-friendly packaging and sourcing meat from ethically raised animals.
• Personalized snacking: Consumers are looking for personalized snack experiences that cater to their specific dietary preferences and taste profiles.

Growth Catalysts in the Meat Snacks Industry

• A growing number of health-conscious consumers: The increasing awareness of the importance of a healthy diet is boosting the demand for meat snacks perceived as healthier alternatives to other snacks.
• Expansion of retail channels: The growing availability of meat snacks in various retail channels is increasing their accessibility to consumers.
• Product innovation: Manufacturers are constantly introducing new and innovative products to meet the changing demands of consumers, such as low-fat, low-sodium, and organic options.
• Strategic partnerships and acquisitions: Collaborations between key players and acquisitions by larger companies are strengthening the competitive landscape and driving market growth.

Market Segmentation: Meat Snacks Analysis

Source:

• Beef
• Pork
• Poultry
• Others

Product:

• Jerky
• Sticks
• Sausages
• Others (Bars, Nuggets, and Others)

Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Stores
• Others

Leading Players in the Meat Snacks Market

• Conagra Brands Inc.
• Hormel Foods Corporation
• Golden Valley Natural
• JACK LINK’S LLC.
• The Meatsnacks Group
• Monogram Food Solutions Inc.
• Nestle USA Inc.
• Marfood USA Inc.
• Werner Gourmet Meat Snacks

Significant Developments in the Meat Snacks Sector

• In 2022, Conagra Brands Inc. acquired Angie's Artisan Treats, a leading manufacturer of meat snacks.
• In 2021, Hormel Foods Corporation launched a line of plant-based meat snacks under the Applegate brand.
• In 2020, Golden Valley Natural partnered with Beyond Meat to develop and launch plant-based meat snacks.

Comprehensive Coverage Meat Snacks Market Report

This report provides a comprehensive analysis of the global meat snacks market, including:

• In-depth analysis of market trends, drivers, challenges, and opportunities
• Detailed segmentation of the market by source, product, and distribution channel
• Profiles of leading players in the meat snacks market
• Comprehensive analysis of industry developments and emerging trends

Regional Insight

The Asia Pacific region is expected to hold the largest share of the global meat snacks market during the forecast period. This growth is attributed to the increasing disposable income and changing lifestyle patterns in the region.

Consumer Side Analysis

Consumers are increasingly seeking meat snacks that are:

• High in protein
• Low in fat and sodium
• Made with natural and organic ingredients
• Convenient and portable

DROCs

The key DROCs (Drivers, Restraints, Opportunities, Challenges) in the meat snacks market are:

• Drivers: Increasing demand for protein-rich and convenient food options, Growing popularity of high-protein diets.
• Restraints: Competition from other snack categories, Price sensitivity, and Health concerns.
• Opportunities: Innovation in flavors and textures, Plant-based meat snacks, and Naturally sourced and functional ingredients.
• Challenges: Changing consumer lifestyles, Expansion of retail channels, Product innovation, Strategic partnerships and acquisitions.

SWOT Analysis

The SWOT analysis of the meat snacks market is as follows:

Strengths:

• Protein-rich and convenient food option
• Growing popularity of high-protein diets
• Wide availability in various retail channels

Weaknesses:

• Competition from other snack categories
• Price sensitivity
• Health concerns

Opportunities:

• Innovation in flavors and textures
• Plant-based meat snacks
• Naturally sourced and functional ingredients

Threats:

• Changing consumer lifestyles
• Expansion of retail channels
• Product innovation
• Strategic partnerships and acquisitions