The meat snacks market size was valued at $7.4 billion in 2018 and is expected to reach $11.3 billion by 2026, registering a CAGR of 5.50% from 2019 to 2026. There has been an increase in the demand for convenience food products over the years and this growth has been drastic in the emerging regions such as Asia-Pacific and LAMEA. Convenient food has become a regular source of nutrition for consumers working in the corporate sector. This increases the adoption of these products in the market. As meat snacks are also considered a convenience food, the growth and adoption of convenience food positively impacts the growth of the market.
The retail industry expansion is supported by rapid increase in economy, coupled with surge in consumption of meat products such as meat snacks; rise in urbanization; and surge in middle-class population, particularly in emerging economies. Increase in foreign direct investment (FDI) leads to the the rise in participation from foreign and private players that further boosts the growth of the retail industry. According to the India Brand Equity Foundation (IBEF), India’s retail sector generated revenue of $641 billion in 2016, and is expected to grow at a CAGR of 10% reaching $1.6 trillion by 2026. In addition, according to the Foreign Agriculture Services (FAOs), China’s total retail sale of consumer goods witnessed a growth of 10.7% in 2015, accounting for $4.49 trillion.
This improvement in the retail infrastructure increases visibility and reach of products such as food and other convenience goods, which helps with overall sales of such products. Thus, all these factors together are responsible for the growth of retail network in emerging economies, which is anticipated to drive the growth of the meat snacks market.
There has been an increase in number of users on various social media sites, with the rise in internet penetration. Taking this into consideration, most key players in the meat snacks market strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries, including meat products, on imparting awareness about their product offerings among target customers on social media channels. Thus, through social media marketing strategy, the global meat snacks market sights critical opportunities in gaining traction and eventually increases its registration among target segments.
Key players profiled in the global Meat snacks industry include Associated British Foods plc., Conagra Brands Inc., General Mills Inc., Golden Valley Natural, Hormel Foods Corporation, Jack Links, Monogram Food Solutions, LLC., Meatsnacks Group, Nestle S.A., Tyson Foods, and others.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product Type
By Nature
By Distribution Channel
By Region
This improvement in the retail infrastructure increases visibility and reach of products such as food and other convenience goods, which helps with overall sales of such products. Thus, all these factors together are responsible for the growth of retail network in emerging economies, which is anticipated to drive the growth of the meat snacks market.
There has been an increase in number of users on various social media sites, with the rise in internet penetration. Taking this into consideration, most key players in the meat snacks market strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries, including meat products, on imparting awareness about their product offerings among target customers on social media channels. Thus, through social media marketing strategy, the global meat snacks market sights critical opportunities in gaining traction and eventually increases its registration among target segments.
Key players profiled in the global Meat snacks industry include Associated British Foods plc., Conagra Brands Inc., General Mills Inc., Golden Valley Natural, Hormel Foods Corporation, Jack Links, Monogram Food Solutions, LLC., Meatsnacks Group, Nestle S.A., Tyson Foods, and others.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global meat snacks market.
- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Product Type
- Jerky
- Sticks
- Bars
- Others
By Nature
- Organic
- Conventional
By Distribution Channel
- Online
- Offline
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- New Zealand
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Frequently Asked Questions about the Meat Snacks Market
What is the estimated value of the Meat Snacks Market?
What is the growth rate of the Meat Snacks Market?
What is the forecasted size of the Meat Snacks Market?
Who are the key companies in the Meat Snacks Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 245 |
| Published | January 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 7.4 billion |
| Forecasted Market Value ( USD | $ 11.3 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Meat Snacks Market, By Product Type
Chapter 5: Meat Snacks Market, By Nature
Chapter 6: Meat Snacks Market, By Distribution Channel
Chapter 7: Meat Snacks Market, By Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Meat Snacks Market by Product type, Nature, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the meat snacks market size was valued at $7.4 billion in 2018, and is expected to reach $11.3 billion by 2026, registering a CAGR of 5.50% from 2019 to 2026. In 2018, North America accounted for around 22.2% share of the global market.The meat snack business has been enduring significant rate of growth, in terms of value sales due continuous improvisations and innovations in exiting product types by key manufacturers in the global meat snacks market. As a the fastest growing snack food segment, the meat snack market has garnered a wide base of customers specifically seeking for high protein and flavored snacks. Jerky, sticks, bars, and sausages are some of the main product types gaining higher level of traction among target customers. A key trend that is shaping meat snacks category includes gourmet brands that target customers’ desire for different tastes, textures, proteins and natural brands. The millennial generation is driving this snack evolution. Small meals packed with nutrients are a reflection of their food ethos and their on-the-go lifestyle.
Although plant-derived protein has been making headlines, demand for protein in general is on the rise, including animal-derived proteins. Once considered a particularly North American snack, jerky has gained popularity in Europe as well, after the Jack Link’s brand entered the market in 2014, drawing attention of European snack manufacturers. Innovative new products, such as sausage crisps and traditional meat snacks from other regions, such as South African biltong, have since boosted the meat snacks. Hence rise in demand for jerky in European region is an influential meat snacks market trend.
Over past couple of years, the global meat snacks market has evolved, in terms of its product offerings, which specifically caters to varying needs and requirements of health-conscious customers. For instance, Jack Link’s, one of the key players in the global meat snacks market announced that it would be launching its new line of beef flavored bars for the North America market in the year 2020.
The global meat snacks market analysis is segmented on the basis of product type, nature, distribution channel, and region. By product type, it is classified into jerky, sticks, bars, and others. By nature, it is bifurcated into organic and conventional. By distribution channel, it is divided into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, Spain, the UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, the UAE, and rest of LAMEA).
Key Findings of the Study
By product type, the bars segment is expected to register a CAGR of 6.80%.
By nature, the organic segment is expected to witness significant value sales meat snacks market growth
On the basis of distribution channel, the offline segment accounts for a higher value meat snacks market share.
Region wise, North America is estimated to garner a higher value share.
Key players profiled in the global Meat snacks industry include Associated British Foods plc., Conagra Brands Inc., General Mills Inc., Golden Valley Natural, Hormel Foods Corporation, Jack Link’s, Monogram Food Solutions, LLC., Meatsnacks Group, Nestle S.A., Tyson Foods, and others
Companies Mentioned
- Associated British Foods plc.
- Conagra Brands Inc.
- General Mills Inc.
- Golden Valley Natural
- Hormel Foods Corporation
- Jack Link’s
- Monogram Food Solutions LLC.
- Meatsnacks Group
- Nestle S.A.
- Tyson Foods
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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