Meat Snacks Market Size, Share, Opportunities, COVID-19 Impact, And Trends by Meat Type (Beef, Chicken Meat, Others), by Product type (Jerky, Meat Bars, Sticks, Others), by Distribution Channel (Online, Offline), And By Geography – Forecast From 2019 To 2024
- Published : Nov 2022
- Report Code : KSI061612845
- Pages : 135
The meat snacks market is anticipated to grow at a CAGR of 8.79% to reach a market size of US$24.494 billion in 2027 from US$13.577 billion in 2020.
Meat snacks are marinated salted form of meat, which gives them a better taste, and longer life. People consume several different types of meat, popular meats are beef, chicken meat, and turkey among others.
Beef itself covers a huge market share and there are several types of beef meat snacks due to its high nutritional value and great taste. The meat snack market has seen a significant boost over the past few decades. The inclination of people towards convenience food and increasing demand for nutritive snacks are a few of the reasons complementing the rising meat snacks market.
Rise in demand for high-protein and convenience food products to drive the market:
The market is expanding owing to the rising demand for portable snacks and the excellent nutritional value of various meat varieties. The market for meat snacks is predicted to increase due to the growing consumer affluence in developed nations and the popularity of meat snacks. Additionally, it is anticipated that the market would be driven in the coming years by consumers' rising acceptance of healthy snacks with conventional and recognizable flavours and tastes as well as suitable for everyday consumption.
To expand their presence in the industry, the companies in the global meat snack market are engaging in merger and acquisition operations. For instance, in February 2022 Benestar Brands, a producer of pretzel bread, tortilla chips, and pork rinds, recently announced the acquisition of San Francisco-based 4505 Meats, a producer of pork rinds and other protein-based snacks.
By Meat type
By meat type, the meat snacks market is segmented as beef, chicken meat, turkey meat, tuna meat, lamb, pork meat, salmon meat, deer meat, and crab. Beef meat is generally very popular and can be found in various types of snacks. Beef sticks, beefsteak strips, and beef bars are some of the popular beef meat snacks.
By Product type
By product type, the meats snack market can be segmented as meat bars, jerky, sticks, and others. Meat bars are generally soft and give an authentic meat experience. Jerky is one of the oldest meat snacks and it covers a significant market share.
By Distribution Channel Type
By distribution channel type, the meat snack market can be segmented as offline market and online market. The online market is growing at a very fast pace and with increasing investment in the online market, it is expected to grow further.
By Geography
Geographically, the meat snack market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The USA consumes a significant share of the meat snack market, and its demand is increasing rapidly due to the increasing urge of people towards animal protein and inclination towards convenience food. Australia imports a significant amount of meat from Argentina. Argentina has a significant market for meat snacks. It also covers a significant market share in the global meat market and exports meat to several countries.
Key Developments:
- August 2022: A Dill Pickle flavour has been added to Wenzel's Farm's selection of meat snacks. The Dill Pickle meat snack produced by the Marshfield, Wisconsin-based company is gluten-free, MSG-free, and free of artificial colours. There are 8-ounce packages of the new on-the-go sticks on the market, and a 2-ounce alternative will be introduced later this year. Wenzel's Farm, which operates out of the original farmland in Marshfield, Wisconsin, erected a new extension to its plant in response to rising demand for its meat snacks. The company estimates that the extension will increase production and storage space by 40%.
- February 2022: Stryve Foods, a market leader in the air-dried meat snack market in the US, announced plans to increase production of its well-liked Stryve Biltong and Vacadillos Carne Seca product lines. Stryve has strengthened its main manufacturing plant in Madill, Oklahoma using the $35 million raised in a private placement arrangement in January 2022, and it intends to construct and/or acquire additional facilities in 2022. Along with growing its marketing initiatives, Stryve is investing in new product development, supply chain optimization, and other areas. Stryve's healthy meat snacks are in high demand from consumers and retailers because to the rising emphasis on wellness and health in the United States. To meet customer demand, Stryve is preparing and expanding its operations.
Product Offerings:
- Pet Nutrition Kitchens: Pet Nutrition Kitchens by Kitchen Table are canine snacks made of smoked beef. The dog snacks are made with premium, human-grade ingredients and are high in protein (more than 90%) and fat (a healthy proportion) to give canines a surge of energy. The six different recipes for the smoked meat snacks from Kitchen Table combine proteins with vegetables and fruits. Every pork strip is prepared using hickory-smoked meat that is obtained domestically and cooked in a smokehouse in the Midwest. Glycerin and starch are not included in the snacks' formulation. In collaboration with Astro Loyalty and IndiePet, Kitchen Table intends to launch the new snacks only through pet specialty merchants.
- Jack Link Beef Bars: The 100% beef product line comes in two flavors original and sweet and hot and is offered in the UK. The brand is marketed as an excellent substitute for sugary snacks and gluten-free mid-afternoon snacks for consumers who are healthily conscious, with little under 70 calories per bar. The tender slices of excellent beef were blended with seasonings, a little smoke, and undisclosed Jack Link family recipes. The recommended retail price for each Beef Bar version in the UK is £1.50 for a 22.5g bar or £3.50 for a three-pack.
Meat Snacks Market Scope:
| Report Metric | Details |
| Market size value in 2018 | US$11.137 billion |
| Market size value in 2024 | US$18.952 billion |
| Growth Rate | CAGR of 9.27% from 2018 to 2024 |
| Base year | 2018 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Meat Type, Product Type, Distribution Channel Type, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Tyson Foods, Inc., The Meat Packers, JBS USA, Smithfield Foods, Inc., Sysco Corp., ConAgra Foods, Inc., Hormel Foods, Corp., National Beef Packing Co., Monogram Food Solutions, Oberto Sausage Co, Inc., Jack Links, Epic Provisions |
| Customization scope | Free report customization with purchase |
Segmentation:
- By Meat Type
- Beef
- Chicken Meat
- Others
- By Product Type
- Jerky
- Meat Bars
- Sticks
- Others
- By Distribution Channel
- Online Market
- Offline Market
- By Geography
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. MEAT SNACKS MARKET BY MEAT TYPE
5.1. Introduction
5.2. Beef
5.3. Chicken Meat
5.4. Others
6. MEAT SNACKS MARKET BY PRODUCT TYPE
6.1. Introduction
6.2. Jerky
6.3. Meat Bars
6.4. Sticks
6.5. Others
7. MEAT SNACKS MARKET BY DISTRIBUTION CHANNEL
7.1. Introduction
7.2. Online Market
7.3. Offline Market
8. MEAT SNACKS MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. United Kingdom
8.4.4. Italy
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. Israel
8.5.3. UAE
8.5.4. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. South Korea
8.6.4. India
8.6.5. Indonesia
8.6.6. Taiwan
8.6.7. Thailand
8.6.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Tyson Foods, Inc.
10.2. NH Foods Ltd.
10.3. JBS Foods
10.4. Smithfield Foods, Inc.
10.5. Sysco Corporation
10.6. ConAgra Brands, Inc.
10.7. Hormel Foods Corporation
10.8. National Beef Packing Co., L.L.C.
10.9. Keystone Meats
10.10. Oberto Specialty Meats
10.11. Jack Link’s Meat Snacks
10.12. EPIC
Tyson Foods, Inc.
NH Foods Ltd.
JBS Foods
Smithfield Foods, Inc.
Sysco Corporation
ConAgra Brands, Inc.
Hormel Foods Corporation
National Beef Packing Co., L.L.C.
Keystone Meats
Oberto Specialty Meats
Jack Link’s Meat Snacks
EPIC
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