Meat snacks are one of the important protein sources with the low-calorie value. These snacks prepared in different varieties and flavors such as teriyaki, peppered, hickory, and barbeque. Meat snacks consist of classic jerky, biltong, strips, sticks and chips, bars, chunks & cubes, and sausages that are made from different meat sources such as turkey, chicken, beef, and pork with low calories and high omega-3, vitamin B12, and iron nutrition.
According to study, “Meat Snacks Market by Product Type (Jerky, Sticks, Bars and Others), Nature (Organic and Conventional), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global meat snacks market are Conagra Brands Inc., Associated British Foods plc., General Mills Inc., Hormel Foods Corporation, Golden Valley Natural, Jack Link’s, Meat snacks Group, Nestle S.A., Monogram Food Solutions, LLC., Tyson Foods. Some of the key market player are now focusing on consumer choices and developing various strategies for the geographical expansion.
Based on product type, meat snacks market is segmented as jerky, bars, sticks, and others. Beef jerky is an affordable, convenient, tasty, low-quality snack, and is primarily sold in gas stations and convenience stores. The bars segment holds the largest market share owing to convenience offered by these products along with their unique taste. Based on nature, the market is segmented as organic nature and conventional nature. The conventional format of meat snack products dominates the market due to the easy availability of these products at affordable prices. Additionally, conventional products are available in multiple variants such as teriyaki, original, mild, and spicy. Based on the distribution channel, the market is segmented as an online distribution channel and offline distribution channel. In addition, based on end-use, the market is segmented as functional use and daily use.
The meat snacks market is driven by growth in development in the retail structure, followed by an increase in demand for convenience food and a rise in innovation facilitates by manufacturers. However, an increase in the prevalence of heart diseases, obesity, and diet-related diseases may impact the market. Moreover, the rise of social media marketing and premium trend are some of key opportunity for the market.
Based on geography, the North-American is a prevalent region in global meat snacks market owing to rise in demand for convenience food products, increase in rate of snack food consumption and increase in number of domestic as well as international manufacturers in the region. Whereas, the Asian-Pacific and European regions are expected to depict higher CAGR due to adoption of western lifestyle and increase in the middle-class population over the forecast period. In upcoming years, it is likely that future of the global market will be bright as a result of increase in penetration of global meat snack brands coupled with rise, I demand for healthy and high-protein snacks during the forecast period. The meat snacks market size was valued at US $7.4 billion in 2018 and is anticipated to reach US $11.3 billion by 2026, registering a CAGR of 5.50% from 2019-2026.
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