PUBLISHER: The Insight Partners | PRODUCT CODE: 1420209
PUBLISHER: The Insight Partners | PRODUCT CODE: 1420209
The Asia Pacific meat snacks market is expected to grow from US$ 2,799.46 million in 2022 to US$ 4,348.50 million by 2028. It is estimated to grow at a CAGR of 7.6% from 2022 to 2028.
Rising Popularity of Clean-Label and Organic Meat Snacks Fuels Asia Pacific Meat Snacks Market
People are getting highly concerned about the food they consume, paying more attention to product labels and ingredients used in processed food products. Organic products are becoming increasingly popular due to their perceived health benefits. They are free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs) that increase their appeal and convince consumers to pay more. The rising concern over the use of synthetic or chemical additives, such as preservatives, flavor enhancers, and colors, increases the preference of clean-labeled products. Therefore, meat snacks producers are developing products with all natural and minimally processed ingredients.
Clean-label trend is gaining popularity across the meat industry. Consumers are preferring all-natural and less-processed meat products that offer high nutritional benefits. Organic and clean-label meat snacks are made from organically raised beef, chicken, or pork. These snacks are free of synthetic additives, such as colors, anti-caking agents, stabilizers, and preservatives. The rising demand for clean-label and organic meat snacks is expected to provide lucrative growth opportunities in the Asia Pacific meat snacks market during the forecast period.
Asia Pacific Meat Snacks Market Overview
The meat snacks market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Many consumers in Asia Pacific are opting for animal products as a preferred source of protein. The region holds promising growth potential for the meat snacks market players due to the flourishing food industry and developing retail infrastructure. The demand for meat-based products is growing with the rising popularity of the western diet and increased demand for ready-to-eat and ready-to-cook products in China, India, and Japan, among other Asia Pacific countries.
According to Asia Research and Engagement (ARE), Pakistan, Vietnam, and Thailand are major beef-consuming countries in Asia Pacific, which boost the demand for beef-based snacks in these countries. However, in countries such as India, the religious sentiments associated with beef consumption create significant growth opportunities for chicken-based meat snacks.
Asia Pacific Meat Snacks Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Meat Snacks Market Segmentation
The Asia Pacific meat snacks market is segmented into type, source, category, distribution channel and country.
Based on type, the Asia Pacific meat snacks market is segmented into jerky, meat sticks, sausages, and others. The jerky segment registered the largest Asia Pacific meat snacks market share in 2022.
Based on source, the Asia Pacific meat snacks market is segmented into beef, chicken, pork, and others. The beef segment held the largest Asia Pacific meat snacks market share in 2022.
Based on category, the Asia Pacific meat snacks market is segmented into plain and flavored. The flavored segment held a larger Asia Pacific meat snacks market share in 2022.
Based on distribution channel, the Asia Pacific meat snacks market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hyper markets segment held the largest Asia Pacific meat snacks market share in 2022.
Based on country, the Asia Pacific meat snacks market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the Asia Pacific meat snacks market in 2022.
General Mills Inc, Hormel Foods Corporation, Link Snacks Inc, and The Original Beef Chief Pty Ltd, are some of the leading companies operating in the meat snacks market in the region.