PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1171537
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1171537
The meat snacks market is anticipated to grow at a CAGR of 8.79% to reach a market size of US$24.494 billion in 2027 from US$13.577 billion in 2020.
Meat snacks are marinated salted form of meat, which gives them a better taste, and longer life. People consume several different types of meat, popular meats are beef, chicken meat, and turkey among others.
The beef itself covers a huge market share and there are several types of beef meat snacks due to its high nutritional value and great taste. The meat snack market has seen a significant boost over the past few decades. The inclination of people towards convenience food and increasing demand for nutritive snacks are a few of the reasons comlementing the rising meat snacks market.
Rise in demand for high-protein and convenience food products to drive the market:
The market is expanding owing to the rising demand for portable snacks and the excellent nutritional value of various meat varieties. The market for meat snacks is predicted to increase due to the growing consumer affluence in developed nations and the popularity of meat snacks. Additionally, it is anticipated that the market would be driven in the coming years by consumers' rising acceptance of healthy snacks with conventional and recognisable flavours and tastes as well as suitable for everyday consumption.
To expand their presence in the industry, the companies in the global meat snack market are engaging in merger and acquisition operations.For instance in February 2022 Benestar Brands, a producer of pretzel bread, tortilla chips, and pork rinds, recently announced the acquisition of San Francisco-based 4505 Meats, a producer of pork rinds and other protein-based snacks.
By Meat type
By meat type, meat snacks market is segmented as beef, chicken meat, turkey meat, tuna meat, lamb, pork meat, salmon meat, deer meat, and crab. The beef meat is generally very popular and can be found in various types of snacks. Beef sticks, beefsteak strips, and beef bars are some of the popular beef meat snacks.
By Product type
By product type, the meats snack market can be segmented as meat bars, jerky, sticks, and others. Meat bars are generally soft and give authentic meat experience. Jerky is one of the oldest meat snacks and it covers significant market share.
By Distribution Channel Type
By distribution channel type, meat snack market can be segmented as offline market and online market. The online market is growing at a very fast pace and with increasing investment in the online market, it is expected to grow further.
By Geography
Geographically, meat snack market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The USA consumes a significant share of meat snack market, and its demand is increasing rapidly due to increasing urge of people towards animal protein and inclination towards convenience food. Australia imports a significant amount of meat from Argentina. Argentina has a significant market for meat snacks. It also covers a significant market share in the global meat market and exports meat to several countries.
Key Developments:
Product Offerings:
Segmentation
Beef
Chicken Meat
Others
Jerky
Meat Bars
Sticks
Others
Online Market
Offline Market
North America
South America
Europe
Middle East and Africa
Asia Pacific