Meat Snacks Market
PUBLISHED: 2023 ID: SMRC22498
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Meat Snacks Market

Meat Snacks Market Forecasts to 2028 - Global Analysis By Meat Type (Chicken, Turkey, Bison, Venison, Salmon, Lamb and Boar), By Product (Sausages, Jerky, Sticks and Other Products), By Flavor, By Special Diet Needs, By Source and By Geography

4.2 (21 reviews)
4.2 (21 reviews)
Published: 2023 ID: SMRC22498

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $10.1 BN

Projected Year Value (2028)

US $17.6 BN

CAGR (2022 - 2028)

9.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacifc

Highest Growing Market

North America


According to Stratistics MRC, the Global Meat Snacks Market is accounted for $10.1 billion in 2022 and is expected to reach $17.6 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Meat snacks are snacks produced by marinating and drying meat with a catalyst. This kind of processing provides meat a distinctive flavour and extends the shelf life of meat snacks. The moisture removal process's concentrating effects are thought to be the cause of the intense flavour of meat snacks. The initial preparation of the meat, making the curing solution, processing and curing the meat, evaluating the quality, and packaging the finished product are all steps in the production of meat snacks.

According to National Bureau of Statics of China, specialty and convenience stores are the major retail distribution channels in China, which accounts for major factors boosting growth of the meat snacks market.

Market Dynamics:

Driver:

Increase in consumption of meat snacks

The consumer need for portable, high-protein snacks has led to an increase in the popularity of meat snacks. The market's expansion is also being fueled by an increase in disposable income in developing nations. Manufacturers are making significant investments in the formation of distinctive products and flavours that cater to consumer preferences, accelerating market growth. Due to their busy schedules, consumers have recently substituted convenience foods for their regular meals.

Restraint:

Rise in vegetarianism

The value of the meat snack market has declined as heart disease, obesity, and diseases linked to food are becoming more prevalent. The biggest problems faced by the industry are the rising vegetarianism trend and the diminishing demand for red meat, which are slowing down market trends and the demand for meat snacks. Thus, these elements have an impact on the market and reduce the likelihood that the market projection for meat snacks will be achieved.

Opportunity:

Rise in demand for convenience foods

An increase in the need for convenience foods, a continuous rise in the desire for salty snacks, and an increase in the disposable income of target consumers are some of the significant factors driving the size of the meat snacks market in terms of value sales. This eventually causes an increase in the demand for specialty foods, including vegan, dairy-free, and meat-based options. Various meats, such as beef, turkey, and pork, are used to make meat snacks, which are a type of quick food product. As a result, as demand for specialty snacks grows, so will the global market.

Threat:

Change in consumer preferences and high cost

Snacking preferences among consumers are evolving, and they frequently desire practical advantages. Additionally, consumers favour traditional meats that have been reinvented with more complex flavour combinations and formulations to create the image of a natural product. Moreover, the high cost of finished products and fluctuating prices for raw materials are significant barriers to this market's expansion.

Covid-19 Impact:

The demand for packaged foods like meat snacks has significantly increased as a result of the coronavirus pandemic (COVID-19). Despite this, disrupted supply chains and inadequate staff shortages are impeding market expansion. The market is anticipated to recover if normalcy returns. The world economy and society are being severely damaged by the COVID-19 (coronavirus) pandemic. The pandemic's impact is damaging the supply chain. Anxiety over the stock market, a significant slowdown in supply chains, a decline in company confidence, and a rise in panic among customer segments are all being brought on by the COVID-19 scenario. The pandemic is having an impact on a range of industries' production processes, particularly the food industry, media, and technology.

The beef segment is expected to be the largest during the forecast period

Due to the ease of availability of beef meat and the innovation in new products offered by the leading market players, the beef meat segment is predicted to dominate the position in the global market for meat snacks during the forecast period. For instance, Country Archer Jerky expanded its product line with the emergence of meat sticks that adhere to the Paleo diet. However, the new product is manufactured from entirely antibiotic- and hormone-free, grass-fed beef and turkey.

The jerky segment is expected to have the highest CAGR during the forecast period

Because of its high consumer popularity, the jerky segment is predicted to have the highest CAGR in the global market for meat snacks during the forecast period. Additionally, the global demand for jerky is anticipated to increase as a result of rapidly shifting eating patterns and growing awareness of healthy and protein-rich snacks. Moreover, demand for the product is expected to increase due to the jerky's longer shelf life as a result of the drying process and the variety of flavours that market participants are offering in jerky snacks.

Region with largest share:

Due to the rising popularity of meat sausages in the region, Asia-Pacific is predicted to hold the largest share of the global market for meat snacks. The market expansion is anticipated to be fuelled by the rising demand for meat snacks in developing nations like China and India due to their growing populations. Moreover, some of the factors that are anticipated to fuel market growth in the region are the long working days combined with the rising popularity of healthy snacks to avoid the negative health consequences of junk food.

Region with highest CAGR:

Because of the rising elderly population in the region and the demand for protein-rich and portable meat snacks, it is expected to have a high growth rate in North America in the prediction period. Additionally, the vast population of meat eaters is anticipated to drive market expansion due to the high demand for meat products. In the region's major markets, which include the United States and Canada, meat snacks are widely consumed as food products.



Key players in the market

Some of the key players in Meat Snacks market include Bridgford Foods Corporation, Hormel Foods Corporation, Sweetwood Smoke & Co, Golden Valley Natural, LLC, Wild West Jerky, ConAgra Brands Inc., Country Archer Provisions & WorldPantry.com LLC, Monogram Food Solutions LLC, The Meatsnacks Group and Link Snacks Inc..

Key Developments:

In November 2022, Itoham, Japan’s top ham and sausage producer, added two new flavors to its line of sausages in Thailand; Arabiki nori and Arabiki mala. Araki is a sausage made from coarsely ground pork.

In October 2022, Lotus’s Thailand launched meat snack private label products under NaxNax. The meat snacks are chicken, shrimp, salmon skin, and squid. The Crispy Chicken Stick comes in Original, Smoke BBQ, and Korean Hot and Spicy. Shrimp Cheek Snack is available in tom yam and other flavors, while Crispy Squid is in Garlic & Pepper.

In October 2021, Conagra Brands launched Slim Jim, weighing three oz., the meaty wallop. The Slim Jim Original Giant stick delivers 13 g of protein per pack.

Meat Types Covered:
• Chicken
• Turkey
• Bison
• Venison
• Salmon
• Lamb
• Boar

Products Covered:
• Sausages
• Jerky
• Sticks
• Nuggets
• Bars
• Strip & Chips
• Chunks & Cubes
• Biltong
• Pickles

Flavors Covered:
• Smoke
• Teriyaki
• Pepper
• Original
• Honey Bourbon
• Herbs & Spice

Special Diet Needs Covered:
• High/Added Protein
• Low/No/Reduced Allergen
• No Additives/ Preservatives
• Gluten Free
• Organic
• Halal
• Fat Free
• Cholesterol Free

Sources Covered:
• Pork
• Beef
• Poultry

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Meat Snacks Market, By Meat Type
5.1 Introduction
5.2 Chicken
5.3 Turkey
5.4 Bison
5.5 Venison
5.6 Salmon
5.7 Lamb
5.8 Boar

6 Global Meat Snacks Market, By Product
6.1 Introduction
6.2 Sausages
6.3 Jerky
6.4 Sticks
6.5 Nuggets
6.6 Bars
6.7 Strip & Chips
6.8 Chunks & Cubes
6.9 Biltong
6.10 Pickles

7 Global Meat Snacks Market, By Flavor
7.1 Introduction
7.2 Smoke
7.3 Teriyaki
7.4 Pepper
7.5 Original
7.6 Honey Bourbon
7.7 Herbs & Spice

8 Global Meat Snacks Market, By Special Diet Needs
8.1 Introduction
8.2 High/Added Protein
8.3 Low/No/Reduced Allergen
8.4 No Additives/ Preservatives
8.5 Gluten Free
8.6 Organic
8.7 Halal
8.8 Fat Free
8.9 Cholesterol Free

9 Global Meat Snacks Market, By Source
9.1 Introduction
9.2 Pork
9.3 Beef
9.4 Poultry

10 Global Meat Snacks Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Bridgford Foods Corporation
12.2 Hormel Foods Corporation
12.3 Sweetwood Smoke & Co
12.4 Golden Valley Natural, LLC
12.5 Wild West Jerky
12.6 ConAgra Brands Inc.
12.7 Country Archer Provisions & WorldPantry.com LLC
12.8 Monogram Food Solutions LLC
12.9 The Meatsnacks Group
12.10 Link Snacks Inc.

List of Tables
1 Global Meat Snacks Market Outlook, By Region (2020-2028) ($MN)
2 Global Meat Snacks Market Outlook, By Meat Type (2020-2028) ($MN)
3 Global Meat Snacks Market Outlook, By Chicken (2020-2028) ($MN)
4 Global Meat Snacks Market Outlook, By Turkey (2020-2028) ($MN)
5 Global Meat Snacks Market Outlook, By Bison (2020-2028) ($MN)
6 Global Meat Snacks Market Outlook, By Venison (2020-2028) ($MN)
7 Global Meat Snacks Market Outlook, By Salmon (2020-2028) ($MN)
8 Global Meat Snacks Market Outlook, By Lamb (2020-2028) ($MN)
9 Global Meat Snacks Market Outlook, By Boar (2020-2028) ($MN)
10 Global Meat Snacks Market Outlook, By Product (2020-2028) ($MN)
11 Global Meat Snacks Market Outlook, By Sausages (2020-2028) ($MN)
12 Global Meat Snacks Market Outlook, By Jerky (2020-2028) ($MN)
13 Global Meat Snacks Market Outlook, By Sticks (2020-2028) ($MN)
14 Global Meat Snacks Market Outlook, By Nuggets (2020-2028) ($MN)
15 Global Meat Snacks Market Outlook, By Bars (2020-2028) ($MN)
16 Global Meat Snacks Market Outlook, By Strip & Chips (2020-2028) ($MN)
17 Global Meat Snacks Market Outlook, By Chunks & Cubes (2020-2028) ($MN)
18 Global Meat Snacks Market Outlook, By Biltong (2020-2028) ($MN)
19 Global Meat Snacks Market Outlook, By Pickles (2020-2028) ($MN)
20 Global Meat Snacks Market Outlook, By Flavor (2020-2028) ($MN)
21 Global Meat Snacks Market Outlook, By Smoke (2020-2028) ($MN)
22 Global Meat Snacks Market Outlook, By Teriyaki (2020-2028) ($MN)
23 Global Meat Snacks Market Outlook, By Pepper (2020-2028) ($MN)
24 Global Meat Snacks Market Outlook, By Original (2020-2028) ($MN)
25 Global Meat Snacks Market Outlook, By Honey Bourbon (2020-2028) ($MN)
26 Global Meat Snacks Market Outlook, By Herbs & Spice (2020-2028) ($MN)
27 Global Meat Snacks Market Outlook, By Special Diet Needs (2020-2028) ($MN)
28 Global Meat Snacks Market Outlook, By High/Added Protein (2020-2028) ($MN)
29 Global Meat Snacks Market Outlook, By Low/No/Reduced Allergen (2020-2028) ($MN)
30 Global Meat Snacks Market Outlook, By No Additives/ Preservatives (2020-2028) ($MN)
31 Global Meat Snacks Market Outlook, By Gluten Free (2020-2028) ($MN)
32 Global Meat Snacks Market Outlook, By Organic (2020-2028) ($MN)
33 Global Meat Snacks Market Outlook, By Halal (2020-2028) ($MN)
34 Global Meat Snacks Market Outlook, By Fat Free (2020-2028) ($MN)
35 Global Meat Snacks Market Outlook, By Cholesterol Free (2020-2028) ($MN)
36 Global Meat Snacks Market Outlook, By Source (2020-2028) ($MN)
37 Global Meat Snacks Market Outlook, By Pork (2020-2028) ($MN)
38 Global Meat Snacks Market Outlook, By Beef (2020-2028) ($MN)
39 Global Meat Snacks Market Outlook, By Poultry (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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