Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Middle East and Africa |
| Largest Market: | North America |
| CAGR: | 9 % |
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Market Overview
The global meat snacks market is expected to register a CAGR of 9.0% during the forecast period, 2020 - 2025.
- The market is driven by the increased demand for snacks that are rich in nutrients, such as omega-3s, iron, and vitamin B12, which is leading players to introduce fortified meat snacks products as well.
- Portable snacks such as jerky, sticks, and sausages make it a convenient option for consumers requiring healthy meat snacks for on-the-go.
- The rapid growth of the e-commerce sector will also aid the growth of the market by offering a wide array of meat snacks for online purchases. The COVID-19 pandemic further propelled online sales of meat snacks as consumers tend to avoid going to supermarkets as a precautionary measure.
Scope of the Report
The report covers meat snacks that are available as jerky, stick, sausage, and other types and are sold in convenience stores, hypermarkets/supermarkets, online retail stores, and others. The products are available in different flavors to meet the distinct taste preferences of consumers.
| By Product Type | |
| Jerky | |
| Sticks | |
| Sausages | |
| Other Product Types |
| By Distribution Channel | |
| Convenience Stores | |
| Hypermarkets/Supermarkets | |
| Online Retail Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Key Market Trends
Increasing Popularity of Ready-To-Eat Sausages
Consumers are increasingly purchasing ready-to-eat meat snacks, especially sausages. While jerky is popular in North America and Europe, sausages are increasingly gaining market shares in developing countries such as India and China. Brands, like Conagra, are offering pickled sausages in several flavors and pack sizes to meet the unique preferences of consumers. Also, the launch of different product forms, like handmade sausage crisps, are expected to have a positive impact on market demand as well.
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North America Witnessed Highest Revenues
The United States is the largest market in North America and worldwide, wherein meat snacks are seen as basic food products. Beef is the single largest meat type in the country. People in the region, especially individuals following an active and healthy lifestyle, are opting for peppered flavor beef jerky due to its health benefits and taste. 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.
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Competitive Landscape
Conagra Brands Inc., Hormel Foods Corporation, THANASI FOODS, and JACK LINK'S LLC, are some of the companies leading the meat snacks market. Major players have focused on the long-term strategies, involving product and flavor innovation, as the market demand is shifting toward a region-specific and exotic range of flavors. Additionally, a large number of international players are expanding their geographical presence to expand their customer reach.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables and Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Jerky
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5.1.2 Sticks
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5.1.3 Sausages
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5.1.4 Other Product Types
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5.2 By Distribution Channel
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5.2.1 Convenience Stores
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5.2.2 Hypermarkets/Supermarkets
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5.2.3 Online Retail Stores
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5.2.4 Other Distribution Channels
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5.3 By Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.1.4 Rest of North America
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Spain
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5.3.2.5 Russia
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5.3.2.6 Italy
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5.3.2.7 Rest of Europe
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5.3.3 Asia-Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East and Africa
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5.3.5.1 South Africa
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5.3.5.2 Saudi Arabia
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Position Analysis
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6.4 Company Profiles
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6.4.1 Conagra Brands Inc.
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6.4.2 Hormel Foods Corporation.
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6.4.3 JACK LINK'S LLC
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6.4.4 Golden Valley Natural
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6.4.5 The Meatsnacks Group
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6.4.6 Bridgford Foods Corporation
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6.4.7 Monogram Food Solutions LLC
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6.4.8 Nestlé S.A.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. IMPACT OF COVID19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Meat Snacks Market market is studied from 2016 - 2026.
What is the growth rate of Meat Snacks Market?
The Meat Snacks Market is growing at a CAGR of 9% over the next 5 years.
Which region has highest growth rate in Meat Snacks Market?
Middle East and Africa is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Meat Snacks Market?
North America holds highest share in 2020.
Who are the key players in Meat Snacks Market?
Conagra Brands Inc., Hormel Foods Corporation., JACK LINK'S LLC, Golden Valley Natural, The Meatsnacks Group are the major companies operating in Meat Snacks Market.
