Meat Snacks Industry Overview:
According to a new report by Introspective Market Research, Global Meat Snacks Market was estimated at USD 3539.40 million in 2021 and is projected to reach USD 5252.39 million by 2028, growing at a CAGR of 6.80% over the analysis period. A snack is a little portion of food eaten between meals that are often smaller than a full meal. Snacking accounted for one out of every five meal events, according to the group’s “Snacking in America” research. As a result, new companies are entering the category, and current products are being updated to convey a healthier image with a wider range of taste options, especially in the hot and spicy areas. The growth of the meat snack market has been boosted by an increase in meat consumption. Meat snacks are no longer limited to convenience stores; they may now be found in refrigerators and the ambient aisle of retail outlets thus, stimulating the growth of the meat snacks market over the analysis period.
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Market Dynamics and Factors:
For many people all over the world, meat is a vital source of nutrition. Meat demand is increasing globally, while meat output has more than tripled in the last 50 years. Meat consumption per capita is expected to increase globally from 42.4 kilograms in 2021 to 43.7 kilograms in 2030. Meanwhile, the global population is expected to continue to rise. The combination of these factors will increase global meat consumption. The OECD country group has the highest consumption of meat products, with per capita consumption projected to reach 88.6 kilograms by 2030.
Pork consumption is dropping in even its most popular places, while chicken consumption is expanding faster than any other meat on the planet. Chicken is one of the most popular poultry farms among people all over the world, according to a recent survey, since it is one of the most butchered animals by humans. Chicken flesh is a nutrient-dense food that is simple to obtain, affordable, tasty, and has a soft texture. Furthermore, there has been a rise in the demand for meat snacks as these are easy to cook, comes in multiple flavors, and are available in numerous store outlets thus, strengthening the expansion of the meat snacks market in the projected timeframe.
Meat Snacks Market Report Highlight:
- By source, the beef segment is set to dominate the meat snacks market over the analysis period. Beef jerky has all of the convenience of a traditional savory snack without the need for heating or refrigeration, but it’s also high in protein and essential nutrients, making it stand out in the snack aisle.
- By product, the jerky segment is projected to have the largest share of the meat snacks market. Jerky is a meat product that has been dried to less than 50% moisture content and has a greater flavor than uncured beef. It’s a popular snack due to it’s its low-fat and high-protein content.
- By distribution channel, the convenience stores segment is anticipated to have the highest share of the meat snacks market. Since many customers regard convenience shops as a destination for meat snacks, store owners strategically place different forms, flavors, and brands of meat snacks in spots such as hot and cold beverage areas, as well as near the coolers and beer cave.
- The North American region is expected to lead the development of the meat snacks market during the forecasted timeframe. Meat snacks and beef jerky are consumed regularly by about half of the US population or nearly 160 million individuals. In 2020, jerky was one of the most popular meat appetizers in the US.
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Major Key Players for Meat Snacks Market:
- Conagra Brands Inc. (US)
- Hormel Foods Corporation (US)
- Golden Valley Natural (US)
- LINK SNACKS INC. (US)
- The Meatsnacks Group (UK)
- Monogram Food Solutions Inc. (US)
- Nestle (Switzerland)
- Werner Gourmet Meat Snacks (US)
- Bell Food Group AG (Switzerland)
- Beyond Meat (US)
- Cherkizovo Group (Russia)
Key Industry Development:
In October 2021, Slim Jim meat snack, weighing in at 3 oz., was launched by Conagra Brands. The Slim Jim Original Giant stick provides 13g of protein per pack.
In March 2021, Under the Cherkizovo Premium brand, the Cherkizovo Group introduced three new meat snack product lines: pork, chicken, and turkey snacks. Meat that has been cured and dried is used to make these meat snack products.
Meat Snacks Market Segmentation:
By Flavor type
By Distribution Channels
- Convenience Stores
- Supermarkets and Hypermarkets
- Online Channels
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For this report, Introspective Market Research has segmented the Meat Snacks Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- 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
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Baobab Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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Check out more related studies published by Introspective Market Research:
- Cultured Meat Market: The Cultured Meat Market was estimated to be USD 125 Million in 2020 and is expected to reach USD 351.15 million by 2027, registering a CAGR of 15.9%, from 2021 to 2027.
- Plant-Based Meat Market: Plant-based Meat Market size is projected to reach USD 35 Billion by 2027 from an estimated USD 13.6 Billion in 2020, growing at a CAGR of 14.4% globally.
- Meat Speciation Testing Market: Meat Speciation Testing Market size is projected to reach USD 2.8 Billion by 2027 from an estimated USD 1.8 Billion in 2020, growing at a CAGR of 6.7% globally.
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