The meat snacks industry is growing epic, with innovative flavours to unique protein and ingredients. Millennia are driving the snacking trend, and they prefer less processed items with more natural and lower-sodium ingredients with taste and trendy flavours. The escalating demand for convenient and healthy snacking items on account of hectic lifestyles and inflating disposable incomes represents one of the significant factors propelling the global meat snacks market growth. According to the publisher, Global Meat Snacks Market will be US$ 14.31 Billion by 2027.
Based on Product - Jerky Meat segment holds the Largest Market Share
The global meat snacks industry is segmented into Sticks, Jerky, Bars, and Others. The jerky segment dominated the market and held the largest market share, as various types of meat jerky were made available quickly. Traditionally jerky was marketed as an affordable, flavoursome snack and convenient and was primarily available at gas stations and convenience stores.
Apart from this, meat sticks are considered the fastest-growing market segment. Consumers are increasingly purchasing ready-to-eat meat sticks and bars snacks from traditional grocery stores or supermarkets. Meat sticks and bars snacks have many flavours and recipes packed very attractively to draw customers' attention. The huge protein content in the product acts as a vitality booster which boosts the sales of meat snacks. As per this research report, the Worldwide Meat Snacks Market size will grow with a CAGR of 5.95% during (2020-2027).
Regional Analysis of Meat Snacks Industry
The Asia Pacific is seeing a rise in the rate of snack food consumption, the surge in demand for convenience food products, wherein meat snacks are seen as primary food products in China. The increase in meat snack consumption in China is partly attributable to a change in consumer eating habits; many young consumers found it more convenient to eat hardier snacks and less frequent meals. The prevalence of meat snacks in China is rising.
Besides, the United States is the largest market for meat snacks in North America. According to The Simmons National Consumer Survey (NHCS) the United States Census, 50.0% of the U.S. population, nearly 160 Million people, eats meat snacks and beef jerky regularly. In the U.S., jerky was one of the most popular meat appetizers in 2020. As per the research findings, Global Meat Snacks Industry was US$ 9.55 Billion in 2020.
Impact of COVID-19 on Global Meat Snacks Market
The spread of the coronavirus pandemic (COVID-19) is a vital rise in the demand for packaged food items, such as meat snacks. Still, disrupted supply chains and inadequate workforce shortages are hampering market growth. Nevertheless, the market is expected to revive once normalcy is regained.
Nestlé Group, Hormel Foods, Conagra Brands, Bridgford Foods, and Hershey lead the meat snacks market. Major players have focused on long-term strategies, flavours, innovation, and product involvement, as the market demand is shifting toward a region-specific and exotic range of tastes.
This latest report “Global Meat Snacks Market by product (Jerky, Sticks, Bars, and Others), Nature (Organic, Conventional), Distribution Channel (Off-Line and On-Line), Region ( North America, Europe, Asia Pacific and Others), Company Analysis (Nestlé Group, Hormel Foods, Conagra Brands, Bridgford Foods and Hershey)” provides complete details on Global Meat Snacks Industry.
Product - Market breakup from 4 viewpoints
1. Jerky
2. Sticks
3. Bars
4. Others
Nature - Market breakup from 2 viewpoints
1. Organic
2. Conventional
Distribution Channel - Market breakup from 2 viewpoints
1. Off-Line
2. On-Line
Region - Market breakup from 4 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. Rest of World
All key players have been covered from 3 viewpoint
- Overview
- Recent Developments
- Financial Insights
Company Analysis
1. Nestlé Group
2. Hormel Foods
3. Conagra Brands
4. Bridgford Foods
5. Hershey
What is the estimated value of the Global Meat Snacks Market?
What is the growth rate of the Global Meat Snacks Market?
What is the forecasted size of the Global Meat Snacks Market?
Who are the key companies in the Global Meat Snacks Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 110 |
| Published | September 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 9.55 Billion |
| Forecasted Market Value ( USD | $ 14.31 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Nestlé Group
- Hormel Foods
- Conagra Brands
- Bridgford Foods
- Hershey
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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