Meat Snacks Market Outlook 2031
The global meat snacks market size was valued at USD 7.47 billion in 2022 and is expected to reach USD 11.39 billion by 2031 expand at a CAGR of 4.8% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand for high-protein convenient snacks and the portability and accessibility of the products such as jerky, sausages, and sticks.
Meat snacks are a type of convenient food products that are made with different processed meat such as pork, beef, and turkey. Different categories of meat snacks include beef jerky, meat sticks, and meat bars. Meat snacks are marketed as affordable, convenient, tasty, and low-quality snack which are typically sold in convenience stores and gas stations
They are more filling than other snacks, making them a more satisfying meal supplement. Meat snacks are popular among the youth who prefer high protein snacks, the handy nature of the product makes it more desirable among the younger generation. Meat snacks are prepared by marinating meat in a curing solution and drying it. This processing technique provides the snack products with a unique flavor and increases the shelf life.
The strong flavor in the meat snack products is achieved due to the concentrating effects of the moisture removal process. The process of manufacturing meat snacks involves preparation of meat, formulation of curing solution, processing and curing, quality check, and packaging. The curing solution contains antimicrobial effects which helps in prevention and growth of harmful bacteria.
Global Meat Snacks Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand of ready to eat high protein meat snack products among consumers worldwide is projected to drive the market growth during the forecast period.
- Rapid growth of the ecommerce sector has made it possible to avail the products at once own convenience is expected to spur the market expansion in the coming years.
- Growing trends in snacking culture, with preference to less processed products with lower sodium and more natural ingredients with taste and flavors is a key factor boosting the market growth during the forecast period.
- Increasing occurrence of diseases such as heart related, bowel, and obesity is expected to impede the market growth during the forecast period.
- Lack of awareness among the consumers in various regions of the world regarding the meat snack products possess as major challenge that can restrict the market expansion in the coming years.
- High cost of raw materials and final products are estimated to hinder the market growth during the forecast period.
- Research & development and new innovative product ideas such as on-the-go packages, ready to eat meal alternatives, and different flavors are anticipated to create immense opportunities for the market players.
Scope of The Meat Snacks Market Report
The report on the global meat snacks market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Meat Snacks Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Jerky, Steak Bites, Meat Bars, and Others), Meat Types (Pork, Beef, Poultry, Turkey, and Others), Flavors (Original, Teriyaki, Smoked, Spicy, Peppered, and Others), Distribution Channels (Grocery Stores, Supermarket, Convenience Stores, Hypermarkets, Online Ecommerce Sites, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Conagra Brands, Inc., Monogram Food Solutions, LLC., Marfood Inc., Hormel Foods Corporation, Big Chief Meat Snacks Inc., Link Snacks, Inc., Nestlé Inc., Oberto Sausage Co, Inc., Bridgford Foods Corporation, Golden Valley Dairy Products, Meatsnacks Group, Werner Gourmet Meat Snacks, FireCreek Snacks, Country Archer Jerky Co., Stafford Meat Company, Copperstone Foods, LLC
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Meat Snacks Market Segment Insights
Jerky segment is projected to represent a major market share
Based on product types, the meat snacks market is segmented into jerky, steak bites, bars, and others. The jerky segment is expected to represent a key share of the market during the forecast period due to growing popularity quality-focused jerky snacks. Many consumers like turkey due to its taste and the fact that it tends to be more filling than other snacks which is expected to push the market to grow at a steady CAGR.
Jerky is affordable in comparison to other type which is a major factor boosting the market expansion. On the other hand, the meat bars segment is anticipated to expand at a rapid pace during the forecast period, this is attributed to the factors such as meat bars being relatively soft product and contains moisture. Meat bars are estimated to expand at a significant CAGR in the coming years.
Beef segment is expected to expand at a rapid pace
In terms of meat type, the meat snacks market is segregated into pork, beef, poultry, turkey, and others. The beef segment is projected to account for a large market share due to its rising demand in various regions across the world. Beef based snacks are preferred largely by the consumers due to its high nutritional value and longer shelf life which is estimated to fuel the market growth at a steady rate during forecast period.
Teriyaki segment is anticipated to register rapid CAGR
Based on flavors, the meat snacks market is divided into original, teriyaki, smoked, spicy, peppered, and others. Teriyaki segment is anticipated to register rapid CAGR owing to increasing demand for the flavor among consumers. It is popular among millennials because of its strong flavor which enhances the taste of meat snack products which is expected to drive the market growth at a considerable rate.
Online Ecommerce sites segment is anticipated to expand at a significant rate
On the basis of distribution channels, the meat snacks market is segmented into grocery stores, supermarket, convenience stores, hypermarkets, online ecommerce sites, and others. Supermarkets and convenience stores dominate the market share, this is attributed due to the channels promoting various branded and private-labelled meat snack products.
These stores indulge in various marketing events such as customer loyalty programs, discounts, and seasonal offers. However, the online ecommerce sites segment is anticipated to expand at a significant rate during the forecast period due to the imposed restrictions worldwide because of covid 19 and the ease of accessibility the channel brings when shopping for meat snacks.
North America is anticipated to dominate the market
On the basis of regions, the meat snacks market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market at a healthy CAGR during the forecast period. The regional market growth can be attributed to surge in demand for convenience food products and increasing number of domestic as well as international manufacturers.
Segments
Product Types
- Jerky
- Steak Bites
- Meat Bars
- Others
Meat Types
- Pork
- Beef
- Poultry
- Turkey
- Others
Flavors
- Original
- Teriyaki
- Smoked
- Spicy
- Peppered
- Others
Distribution Channels
- Grocery Stores
- Supermarket
- Convenience Stores
- Hypermarkets
- Online Ecommerce Sites
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Conagra Brands, Inc.
- Monogram Food Solutions, LLC.
- Marfood Inc.
- Hormel Foods Corporation
- Big Chief Meat Snacks Inc.
- Link Snacks Inc.
- Nestlé Inc.
- Oberto Sausage
- Bridgford Foods Corporation
- Golden Valley Dairy Products
- Meatsnacks Group
- Werner Gourmet Meat Snacks
- FireCreek Snacks
- Country Archer Jerky Co.
- Stafford Meat Company
- Copperstone Foods LLC
Competitive Landscape
Key players competing in the meat snacks market include Conagra Brands, Inc., Monogram Food Solutions, LLC., Marfood Inc., Hormel Foods Corporation, Big Chief Meat Snacks Inc., Link Snacks, Inc., Nestlé Inc., Oberto Sausage Co, Inc., Bridgford Foods Corporation, Golden Valley Dairy Products, Meatsnacks Group, Werner Gourmet Meat Snacks, FireCreek Snacks, Country Archer Jerky Co., Stafford Meat Company, Copperstone Foods, LLC.
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