Meat Snacks Market is expected to reach US$ 17,680.68 Million by 2028

PRESS RELEASE BY The Insight Partners 01 Nov 2022

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The meat snacks market size is expected to reach at US$ 17,680.68 million by 2028; registering at a CAGR of 6.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

Increasing Demand for High-Protein Snacks to Drive Meat Snacks Market Growth during 2022–2028

Jerky, meat sticks, sausages, nuggets, and bites are a few types of meat snacks. The snacks are generally made with beef, pork, chicken, lamb, turkey, or fish. They are flavorful and rich sources of protein, iron, creatine, and other nutrients. Based on type, the jerky segment held the majority of meat snacks market share in 2021, whereas the meat sticks segment is expected to register the highest CAGR from 2022 to 2028. Jerky is one of the most popular grab-and-go meat snacks and is available in various flavors across multiple retail channels. Thus, the demand for jerky is growing among consumers.

Meat Snacks Market Breakdown – by Region

Meat Snacks Market Breakdown – by Region

Meat Snacks Market Size & Share | Global Trends 2022, 2028

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Meat Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Jerky, Meat Sticks, Sausages, and Others), Source (Beef, Chicken, Pork, and Others), Category (Plain and Flavored), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

Over the past few years, the demand for convenience food has increased significantly as many consumers have busy lifestyles and hectic work schedules. They are replacing regular meals with convenience food that helps them save cooking time and offers required nutrition. Nowadays, consumers seek functional benefits from all the food products they consume due to increased health and wellness concerns. People are progressively adopting healthier lifestyle owing to rising prevalence of various diseases, including obesity, diabetes, and heart diseases. Therefore, consumers are altering their dietary habits and gravitating toward low-fat and high-protein diet. They prefer high protein, low-calorie, and flavorful products that satisfy their cravings while also fulfilling their nutritional requirements. Consumers' snacking habits have also evolved significantly, with many consumers choosing healthy and junk-free products with high protein content. This factor is significantly driving the demand for meat snacks among consumers across the world.

Tyson Foods Inc, Bridgford Foods Corporation, General Mills Inc, Werner Gourmet Meat Snacks, Premium Brands, Hormel Foods Corporation, Conagra Brands Inc, Link Snacks Inc, Country Archer Provisions, and Organic Valley are a few key players operating in the global meat snacks market. These companies have a diverse geographic presence and offer an extensive product portfolio to cater to different consumer trends emerging in the meat snacks market.

Impact of COVID-19 Pandemic on Meat Snacks Market

Before the onset of the COVID-19 pandemic, the meat snacks market was growing due to the rising consumption of meat-based convenience food products, especially ready-to-eat products and savory meat snacks, and the high demand for protein-rich products. However, the food & beverages industries faced unprecedented challenges after the COVID-19 outbreak in 2020. The supply chain disruptions created a shortage of raw materials, which increased the prices of beef, chicken, and pork. The implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. This factor hampered the profitability of meat manufacturers. The pandemic also triggered changes in the overall dietary preferences of consumers. Many consumers switched to plant-based diets, as plant-based food is perceived to be healthier than conventional meat products. Thus, people’s reluctance toward consuming animal-based foods hindered the total sales of meat snacks, which thereby hampered the growth of the meat snacks market. In 2021, various economies resumed operations as governments announced relaxation in the previously imposed restrictions, which fuelled the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gaps, and other repercussions. These factors propelled the meat snacks market growth during the pandemic.

The report segments the meat snacks market as follows:

Based on type, the meat snacks market is segmented into jerky, meat sticks, sausages, and others. Based on source, the market is segmented into beef, chicken, pork, and others. In terms of category, the meat snacks market is bifurcated into plain and flavored. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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