Meat Snacks Market Analysis & Growth Report 2024-2032

Meat Snacks Market Overview

The Meat Snacks Market size is expected to grow from USD 4.22 billion in 2023 to USD 8.87 billion by 2032, at a CAGR of 8.60% during the forecast period (2024-2032).

The meat snacks market has fueled by changing consumer preferences towards healthier and convenient snack options. With an increasing emphasis on protein-rich diets and on-the-go consumption, meat snacks have gained popularity among health-conscious individuals and busy lifestyles.

The meat snacks market include rising awareness about the nutritional benefits of protein, demand for natural and minimally processed products, and innovation in flavors and packaging. Additionally, the market has benefited from the expansion of distribution channels, including online retail and convenience stores, which have made meat snacks more accessible to a wider audience.

Beef jerky remains a dominant segment within the meat snacks market, but there is also growing interest in alternative protein sources such as turkey, pork, and chicken. Moreover, manufacturers are responding to evolving consumer preferences by introducing organic, gluten-free, and low-sodium options to cater to various dietary needs.

The global meat snacks market is projected to continue its growth trajectory, driven by increasing health consciousness, busy lifestyles, and the demand for convenient, protein-rich snacks

Market Dynamics And Factors For Meat Snacks Market

Drivers:

Increasing Habits Of Eating Meat Snacks

• People are moving to words meat snacks rather than veg snacks due to their high protein content. Protein-rich quality meat snacks attract customers. 52% of consumers are more likely to spend on snacks that are high in protein. In addition to this, meat snack manufacturers are offering different delicious flavors, and forms of meat snacks according to the customer preference this strategy is convincing customers to buy meat snacks products. Moreover, introducing less-common protein sources, including turkey, seafood, and game meats, and expanding offerings in the refrigerated case through power packs, bars, and deli bites helps to increase snack eating habits. As a result, increasing the habits of eating meat snacks propels the growth of the market.

Restraints:

Fluctuations in Costs Associated With Raw Materials

• Meat is the primary raw material required for the production of meat snacks. Pork meat, red meat, beef meat, and poultry meat are used as basic raw materials for meat products and ready meals. The meat required for manufacturing these items contains muscle but will also contain fat and sometimes skin and bone from the animal. Muscles of freshly killed animals are relaxed, soft, extensible, and flexible. Due to this quality of meat manufacturers purchase meat freshly on regular basis and fluctuations in daily rates affect the production, which is retaining the meat snack market.

Opportunity:

Emerging Technical Innovations in Meat Snacks Market

• Meat snacks are highly consumed in the world. In the US two thirds of adults admit to regular consumption of snacks between meals and full fill the increasing demand of the consumer are many innovative techniques used in the production of meat snacks. For instance, The QDSnacks system is an evolution of the QDS Process (Quick Dry Slice process) system, it is a disruptive technology of quick-drying for cured sliced sausage based on improved efficiency of drying time since instead of drying entire bars, the cured and fermented product is dried once it has been sliced so that drying time goes from some 40 days to about 40 minutes. As a result, technological advancement helps to reduce the production time required to make snacks and increases the production rate that propels the growth of the market.

Segmentation Analysis Of Meat Snacks Market

• By product type, the jerky segment is expected to account for the largest share in the meat snacks market during the forecasted period. Jerky is a meat product that has been dried to less than 50% moisture content and It has a greater flavor and texture than uncured beef. It's a popular snack in many countries due to its low-fat and high-protein content. Since it provides calories and protein beef jerky is good for muscle growth. Protein and calories help to repair and grow muscles. These factors are helping the growth of the meat snacks market. In addition to this, Traditional jerky is ranked at second number in a list of most consumed meat snacks products with unit sales amounting to about 132.3 million in the U.S.
• By source, the beef segment is expected to dominate the meat snacks market in the forecast period. Beef jerky is the most popular product in the market. It contains high protein content and essential nutrients, making it more famous in the meat snack market. Additionally, it is a convenient, affordable, tasty, low-quality snack. It is available in most of the region and is primarily sold in convenience stores, supermarkets, and gas stations. The factors like taste and availability of the product boost the growth of the market during the projected period. According to Statista, in 2019, the volume of U.S. beef and veal production reached about 12.73 million metric tons, more than any other country.
• By distribution channel, the convenience stores segment is expected to lead the development of the meat snacks market during the forecasted timeframe.  Many customers purchase meat snacks from convenience shops. It is a defined destination for daily shopping and the availability of fresh meat snacks products in stores propels the growth of the market. Additionally, store owners strategically place different flavors, brands, and forms, of meat snacks in spots such as hot and cold beverage areas, as well as near the coolers and beer cave and money counters helping in the larger sales of meat snacks through the stores.
• By flavor type, the regular segment is projected to have the largest share of the meat snacks market. Meat snacks are available in a variety of flavors and forms. Flavors help to enhance the taste of products. Meat snacks are available in the market in many flavors such as teriyaki, peppered, salty, etc. according to the preference of the consumer. The regular flavor is the slandered flavor launched and manufactured by the company. Most of the time regular flavored product is the first product offered by the company so it is mostly preferred and purchased product by people leads to the development of the meat snacks market in the upcoming period.

Regional Analysis Of Meat Snacks Market

• The North American region is the second most dominated region in the meat snacks market during the forecasted period. The U.S. is a leader in the production of beef and poultry. An increase in the production of meat snacks boosts the growth of the market. According to the U.S. Department of Agriculture (USDA), 20% of meat snacks are produced by the US, out of the world’s total production of beef. In the U.S, Canada, and Mexico beef Jerkies are largely produced. Additionally, the high consumption rate of meat snacks in this region is propelling the growth of the market. For Instance, the data calculated by Statista is based on the U.S. Census data and Simmons National Consumer Survey (NHCS). According to this statistic, 128.73 million Americans consumed meat snacks and beef jerky in 2020. In 2019, meat snack sales in the U.S. amounted to about 3.5 billion U.S. dollars.
• Europe is the region that has the potential to grow in the meat snacks market in the upcoming period. Germany, the U.K, and France are the leading economies in this region. Germany accounted for over 16% of the total market share, due to the high presence of major manufacturers in the region propels the growth of the meat snacks market during the projected period. Meat snakes made from beef and pork are more likely to consume in this region. According to Statista In 2020, the market value of meat snacks in Europe was estimated to be 1.8 billion U.S dollars.
• Asia Pacific region is expected largest market share of the meat snacks market in the projected period. The increasing demand for meat snacks from emerging countries like China and India is the major growth factor in the region. The growing population helps to increase the demand for meat snacks in this region. China is the major producer of pork meat followed by poultry and beef. These are the factors expected to boost the demand for mobile payments in the projected period.

Top Key Players Covered In Meat Snacks Market

• Jack Link's (USA)
• Oberto Sausage Co. (USA)
• Conagra Brands (USA)
• Hormel Foods Corporation (USA)
• Tyson Foods, Inc. (USA)
• Bridgford Foods Corporation (USA)
• Old Wisconsin Sausage (USA)
• Tillamook Country Smoker (USA)
• Cargill, Incorporated (USA)
• JerkyXP (USA)
• Golden Valley Natural (USA)
• Duke's Smoked Meats (Hillshire Brands) (USA)
• Vermont Smoke & Cure (USA)
• The New Primal (USA)
• Epic Provisions (USA)
• Krave Jerky (Sonoma Brands) (USA)
• Perky Jerky (USA)
• Righteous Felon Jerky Cartel (USA)
• Country Archer Jerky Co. (USA)
• Ostrim (USA)

Key Industry Development In The Meat Snacks Market

• In October 2023: Meat snack brand, Country Archer Provisions, launched two new meat snack products including Rosemary Turkey Mini Sticks and Original Beef Jerky Snack Packs. As per the company, the portioned protein snacks offer clean-label ingredients for health-conscious consumers. Furthermore, the company claims that the Rosemary Turkey Mini Sticks are fortified with herbs and spices like rosemary, basil, thyme, garlic, and onion, and the original Beef Jerky Snack Packs are made from grass-fed beef combined with spices like garlic and onion powder.
• In September 2023: A United States-based company Volpi Foods expanded its presence in the meat snacks category with a new line of Salami Stix. The company claims the products to be high-quality, all-natural with the best ingredients. Furthermore, the company asserts the products are available in 2-oz packages, in two flavors, Spicy and Original.
• In April 2023: Doki Foods, a New Delhi-based startup launched chicken chips and buffalo jerky in the country. As per the company, the products are available in flavors like Korean Gochujang, Tokyo Teriyaki, and Telicherry pepper.