Increasing disposable income and the rising demand for the high-protein convenient snacks are the drivers for the Meat Snacks Market.
According to the current analysis of Introspective Market Research, the global Meat Snacks market was valued at USD 3103.04 Million in 2019 and is expected to reach USD 4894.83 Million by the year 2026, at a CAGR of 6.80%.
The hectic lifestyle and the increasing disposable income of the individuals are creating a high demand for the market. The high consumption of protein filled food that is less time consuming and is convenient is the major advantage for the growth of this market. The manufacturers are highly leaning towards the innovative products and flavors considering the requirement and the demand from the public. The different flavors from the different product type is a major driver for the market. However, the increase in heart diseases and the issue of obesity is hampering the growth of the market.
According to the analyst, the United States has been accounted for the highest consumption of the meat products making the North-American region the largest region to hold the market share. The heavy demand for the meat snack and the high consumption of convenient protein food is rising the market share in the United States market. However, Asia-Pacific is expected to be the fastest growing region for the consumption of meat snacks in the forecast period. The market is driven by the increased demand for the snacks that are rich in nutrients, high protein, and vitamin B12. The industry players are also introducing such products which are increasing the growth of the market.
The Meat Snacks market is by Product Type (Jerky, Sticks & Strips, Sausages, Bars and Others), by Sources (Pork, Beef, Poultry and Others), by Distribution Channel (Convenience Stores, Hyper/Supermarket, Online Retail Stores), By Nature (Organic and Conventional). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- The rapid growth of the online stores and e-commerce is also helping the growth of the market. Manufacturers are increasing their production for the convenient products and the healthy snacks such as beef sticks and the sausages which are driving the market.
- Due to the lockdown restrictions in the Covid-19, the online retailers have propelled their market growth for the meat products increasing the market share in the year 2019-2020.
- One of the prominent market key player, Jack Link, started offering beef steak strips in original and teriyaki flavor which is enriched with the protein which is increasing the opportunity of the market.
- The high demand of less sodium and more natural flavors from the millennial generation has led to an increase in the meat snacking products demand.
- Perky Jerky, another prominent player in the market relaunched its brand improvising their products to increase their target audience as millennial in the year 2018.
Key Participants include Conagra, Hormel Foods, Jack Link’s, King Elite snacks, Marfood USA, Meatsnacks group, Bridgford food, Associated British Foods Plc., Golden Valley Natural, General Mills Inc., Monogram Food Solutions LLC., and Others.
For this report, Introspective Market Research have segmented the Meat Snacks markets market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM