Meat Snacks Market Size, Share, Growth Analysis, By Product(Sticks, sausages), By Source(Poultry, beef), By Distribution Chanel(Convenience stores, hypermarkets/supermarkets), By Flavour(Regular, teriyaki) - Industry Forecast 2024-2031

Report ID: SQMIG30I2192 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 121 | Figures: 77

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Meat Snacks Market size was valued at USD 11437.04 million in 2019 and is poised to grow from USD 12169.01 million in 2023 to USD 19988.87 million by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

The meat snacks market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. Launching a new product is one of the crucial methods to get a competitive edge in light of the market's rapid development. Along with mergers and acquisitions, expansion has become a crucial strategy for the market's players. companies looking to increase their market presence have found success with these strategic moves. 'Golden Valley Dairy Products', ' Conagra Brands, Inc. ', ' Hormel Foods Corporation ', ' Tyson Foods, Inc. ', ' Jack Link's Beef Jerky ', ' Marfood USA, Inc. ', ' Meatsnacks Group Ltd. ', ' Nestle S.A. ', ' Oberto Brands ', ' Old Wisconsin Sausage Company ', ' Bridgford Foods Corporation ', ' Duke's Smoked Meats ', ' Klement's Sausage Company, Inc. ', ' Country Archer Jerky Co. ', ' Monogram Foods Solutions, LLC ', ' Stryve Foods, LLC ', ' Vermont Smoke & Cure ', ' Wild Bill's Foods ', ' The Hershey Company (Krave Jerky) ', ' The Meatsnacks Group (Griffith Foods) '

Due to their high protein content, people are switching from veg snacks to meat snacks. Customers are drawn to high-quality, protein-rich beef snacks. 52% of customers are more willing to spend money on protein-rich snacks. Additionally, meat snack producers offer a variety of delectable tastes and shapes of these snacks in accordance with consumer preferences; this tactic persuades consumers to purchase meat snack goods. Adding less typical protein sources like turkey, seafood, and game meats as well as boosting the selection in the refrigerated case with power packs, bars, and deli pieces further promotes the consumption of snacks. As a result, the rising consumption of meat snacks drives market growth.

The market for meat snack products is likely to be significantly impacted by clean label. Consumer awareness of clean label products is growing rapidly, as is consumer demand, as a result of an increase in food fraud and adulteration occurrences. Manufacturers of meat snacks are compelled to follow the clean label trend because zoonotic illnesses are a growing threat.

The North America region dominated the meat snack market in 2021, as customers value the portability, convenience, and indulgence that savory snacks provide. In terms of beef and poultry output, the United States is at the top. The expansion of the market is accelerated by an increase in the manufacture of meat snacks. Out of the total beef produced worldwide, 20% is produced in the US, according to the U.S. Department of Agriculture (USDA). Large-scale production of beef jerkies occurs in the US, Canada, and Mexico. Additionally, the region's strong consumption of meat snacks is fostering the market expansion. For example, Statista's calculations are based on information from the U.S. Census and the Simmons National Consumer Survey (NHCS). According to this number, beef jerky and meat snacks were consumed by 128.73 million Americans in 2020. Sales of meat snacks in the United States totaled over 3.5 billion dollars in 2019.

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Meat Snacks Market Size, Share, Growth Analysis, By Product(Sticks, sausages), By Source(Poultry, beef), By Distribution Chanel(Convenience stores, hypermarkets/supermarkets), By Flavour(Regular, teriyaki) - Industry Forecast 2024-2031

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