Meat Snacks Market Size
| Study Period | 2017-2027 |
| Market Size (2023) | USD 13.16 Billion |
| Market Size (2028) | USD 20.40 Billion |
| CAGR (2023 - 2028) | 9.16 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Meat Snacks Market Analysis
The Meat Snacks Market size is expected to grow from USD 13.16 billion in 2023 to USD 20.40 billion by 2028, at a CAGR of 9.16% during the forecast period (2023-2028).
Rising preference for brands that follow sustainable practices like zero waste management and eco-friendly packaging is driving the demand in the market. The shift in consumer preference from traditional meats to plant-based meat substitutes is another factor propelling the need for the meat snacks market. Also, regular/original flavored meat snacks still hold the market demand. At the same time, exotic flavor-based proteins are projected to grow faster during the forecast period. Some of the preferred flavors available currently are spicy, hickory, barbeque, smoked, etc.
The benefits of consuming organic plant-based food, free from chemical additives, are expected to increase the demand for meat alternatives. The market is driven by the increased demand for snacks rich in nutrients, such as omega-3s, iron, and vitamin B12, resulting in players introducing fortified meat snack products. Portable snacks such as jerky, sticks, and sausages make it a convenient option for consumers requiring healthy meat snacks on the go.
Processing modifications, such as slow meat roasting and value addition with exotic spices as exhibited by brands such as Wild Zora and Wilde Boldr, have captured the younger consumers' imaginations, who are seeking complete and portable protein snacking solutions. The emerging popularity of grass-fed meat snacks that are preservative-free and portion-controlled with a variety of flavor profiles and bite types is expected to sustain the growth of meat snacks in relatively mature markets of developed countries.
Meat Snacks Industry Segmentation
Meat snacks are on-the-go food products that are made from different animal sources such as beef, turkey, etc., The meat snacks market is segmented by type, distribution channel, and geography. Based on type, the market is segmented by jerky, stick, sausage, and other product types. Based on the distribution channel, the market is segmented into convenience stores, hypermarkets/supermarkets, online retail stores, and different distribution channel types. Based on geography, the global meat snacks market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
| Product Type | |
| Jerky | |
| Sticks | |
| Sausages | |
| Other Product Types |
| Distribution Channel | |
| Convenience Stores | |
| Hypermarkets/Supermarkets | |
| Online Retail Stores | |
| Other Distribution Channels |
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Meat Snacks Market Trends
This section covers the major market trends shaping the Meat Snacks Market according to our research experts:
Rising Demand for Convenient Snacking Options
Consumers are constantly seeking convenient snacking options that are being upgraded by significant manufacturers operating in the meat snacks market. Meat snacks are becoming extremely popular, especially among the working population of the country and the rising young generation of consumers due to their hectic lifestyles. According to Convenience Store Products magazine, in 2021, meat snacks generated nearly USD 2.16 billion in sales in convenience stores in the US. Among traditional jerky brands, the old trapper was the third most-sold product in US convenience stores.
Consumers’ snacking habits are becoming more sophisticated, and they often crave functional benefits. This trend eventually led to a surge in demand for specialist snacks like meat snacks, a quick food product made from various types of meat, including beef, turkey, and pork. Further, consumers tend to look for snacks with high protein and traditional meat items reinvented with more complex flavor combinations and formulations for a natural product image. For instance, in March 2021, Cherkizovo Group launched its new meat snack product range under the Cherkizovo Premium brand in three groups: pork, chicken, and turkey snacks. The snacks are made of cured and dried meat. Also, introducing less-common protein sources, including turkey, seafood, and game meats, and expanding offerings in the refrigerated case through power packs, bars, and deli bites, is giving the category a new push and an opportunity for more snack occasions.
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North America Holds a Prominent Share in The Market
The North American region dominates the global savory snack market as consumers prioritize the portability, convenience, and indulgence offered by savory snacks. Additionally, the snackification trend among the consumers in the region is an all-day habit, with snacking at least once a day among all ages consumers. The United States is the largest market in North America and worldwide, wherein meat snacks are consumed as essential food products. According to US Census data and National Consumer Survey, 129.43 million Americans consumed meat snacks and beef jerky in 2021. Moreover, with the increasing popularity of grab-and-go protein snacks, producers of jerky and dried meat snacks are capitalizing on the concept by introducing new products to meet the growing demand. Players are also concentrating on producing premium products, intending to entice North American consumers of the higher income group with their no-preservative and additive products, thus, driving the segment.
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Meat Snacks Industry Overview
The Savory Snacks Market is highly competitive, with key players such as Meatsnacks Group, LINK SNACKS, INC., Golden Valley Natural, LLC, ConAgra Brands Inc., and Hormel Foods Corporation.
Owing to the rapidly developing market, launching a new product is one of the essential strategies to gain a competitive edge. The players in the market have also been adopting expansion as a critical strategy, followed by mergers and acquisitions. These strategic moves have proven successful for global players seeking to strengthen their presence in the market.
Meat Snacks Market Leaders
LINK SNACKS, INC.
Golden Valley Natural, LLC
ConAgra Brands Inc.
Hormel Foods Corporation
Meatsnacks Group
*Disclaimer: Major Players sorted in no particular order
Meat Snacks Market News
- November 2022: Itoham, Japan’s top ham and sausage producer, added two new flavors to its line of sausages in Thailand; Arabiki nori and Arabiki mala. Araki is a sausage made from coarsely ground pork.
- October 2022: Lotus’s Thailand launched meat snack private label products under NaxNax. The meat snacks are chicken, shrimp, salmon skin, and squid. The Crispy Chicken Stick comes in Original, Smoke BBQ, and Korean Hot and Spicy. Shrimp Cheek Snack is available in tom yam and other flavors, while Crispy Squid is in Garlic & Pepper.
- October 2021: Conagra Brands launched Slim Jim, weighing three oz., the meaty wallop. The Slim Jim Original Giant stick delivers 13 g of protein per pack.
Meat Snacks Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Jerky
5.1.2 Sticks
5.1.3 Sausages
5.1.4 Other Product Types
5.2 Distribution Channel
5.2.1 Convenience Stores
5.2.2 Hypermarkets/Supermarkets
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Russia
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 ConAgra Brands Inc.
6.3.2 Hormel Foods Corporation
6.3.3 Link Snacks Inc.
6.3.4 Golden Valley Natural, LLC
6.3.5 The Meatsnacks Group
6.3.6 Bridgford Foods Corporation
6.3.7 Monogram Food Solutions LLC
6.3.8 Sweetwood Smoke & Co.
6.3.9 Wild West Jerky
6.3.10 Country Archer Provisions & WorldPantry.com LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Meat Snacks Market Research FAQs
How big is the Meat Snacks Market?
The Meat Snacks Market size is expected to reach USD 13.16 billion in 2023 and grow at a CAGR of 9.16% to reach USD 20.40 billion by 2028.
What is the current Meat Snacks Market size?
In 2023, the Meat Snacks Market size is expected to reach USD 13.16 billion.
Who are the key players in Meat Snacks Market?
LINK SNACKS, INC., Golden Valley Natural, LLC, ConAgra Brands Inc., Hormel Foods Corporation and Meatsnacks Group are the major companies operating in the Meat Snacks Market.
Which is the fastest growing region in Meat Snacks Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Meat Snacks Market?
In 2023, the North America accounts for the largest market share in the Meat Snacks Market.
Meat Snacks Industry Report
Statistics for the 2023 Meat Snacks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Meat Snacks analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Meat Snacks Market Report Snapshots
