Market Overview/Outlook (2022 to 2030)
The meat snacks market was valued at USD 10.31 billion in 2022 and is projected to reach USD 18.36 billion by 2030, registering a CAGR of 7.5% for the forecast period 2023-2030.
Market Definition
Meat snacks are a type of food product made from cured, dried, or smoked meat. They are naturally high in protein and low in carbohydrates, making them a favored choice for people who are looking for a healthy snack choice. There are various types of meat sacks including jerky, salami, meatsticks, biltong, pemmican, etc. This can be eaten as part of the meal. They are also a popular ingredient in wraps, salads, and other dishes. The meat snacks market is a surging market, and it is expected to continue to grow in the upcoming years. This is due to the rising demand for convenient and healthy snacks, as well as the increasing awareness of the nutritional benefits of meat. Rising inclination towards salty, spicy, and specific-flavored snacks is b growth of boosting the meat snacks market. These eco-friendly and easy-to-carry packaging are gaining popularity in the meat snacks market. Various companies are continuously innovating these products in the form of making them easily available to customers. Varied Flavors mixed with meat products are a major factor in accelerating the growth of the meat snacks market worldwide.
Market Size:
The meat snacks market was valued at USD 10.31 billion in 2022 and is projected to reach USD 18.36 billion by 2030, registering a CAGR of 7.5% for the forecast period 2023-2030.
Market Definition
Meat snacks are a type of food product made from cured, dried, or smoked meat. They are naturally high in protein and low in carbohydrates, making them a favored choice for people who are looking for a healthy snack choice. There are various types of meat sacks including jerky, salami, meatsticks, biltong, pemmican, etc. This can be eaten as part of the meal. They are also a popular ingredient in wraps, salads, and other dishes. The meat snacks market is a surging market, and it is expected to continue to grow in the upcoming years. This is due to the rising demand for convenient and healthy snacks, as well as the increasing awareness of the nutritional benefits of meat. Rising inclination towards salty, spicy, and specific-flavored snacks is b growth of boosting the meat snacks market. These eco-friendly and easy-to-carry packaging are gaining popularity in the meat snacks market. Various companies are continuously innovating these products in the form of making them easily available to customers. Varied Flavors mixed with meat products are a major factor in accelerating the growth of the meat snacks market worldwide.
Market Size:
- 2022: USD 10.31 Billion
- 2030: USD 18.36 Billion
- CAGR (2023-2030): 7.5%
Meat Snacks Market Dynamics
Drivers Propelling the Demand for meat snacks market include:
The rising demand for portability of snacks and high-nutrition content among people:
The rising popularity of the portability of snacks and high-nutrition content is positively affecting the growth of the meat snacks market. This are good source of protein, which is a helpful nutrient for repair and muscle growth. They are the source of B vitamins, zinc, iron, and other nutrients. Meat snacks are a better option for a customer who wants to improve their diet. Moreover, according to the Press Information Bureau (PIB) of the government, the total meat production in the country is 9.29 million tons for the year 2021-22 with an annual growth rate of 5.62%. People are more aware of the nutritional advantages of meat such as maintaining muscle mass, high protein content, and ability to help build high muscle.
Increasing consumption of sausage meat snacks:
The increasing consumption of sausage meat snacks is helping to boost the meat snacks market. Sausage meat snacks have high levels of vitamin B-12 and iron both of which are very crucial elements for hemoglobin production and healthy red blood cells. It is helpful for the proper functioning of the kidney which is beneficial to the proper functioning of the body. It helps to improve thyroid health, boosts the immune system, and can reduce risk of heart diseases. There are various types of sausage including cooked, cooked smoked, fresh sausage, and dry sausage. Additionally, freshly cooked sausage provides 53.33% of Vitamin D, 35.83% of Vitamin B12, 34.37% of total lipid fat, 23.33% of sodium, 22.81% of histidine, 22.25% of isoleucine which helps to increase the proper functioning of the human being.
Recent Developments
In January 2022, Benestar Brands, a leading salty snacks company with operations across the US and Mexico, announced the acquisition of 4505 Meats. The acquisition adds to Benestar's expanding roster of brands, including Mac's, PORQ, Turkey Creek, Pretzilla, Chicas, and Cazo de Oro, and bolsters Benestar as the clear leader in the pork rinds and meat snacks markets. This acquisition will help to grow the market majorly which also fulfills the needs of consumers which benefits market expansion.
Restraint
Surge in the occurrence of heart diseases and obesity:
Surge in the occurrence of heart diseases, obesity is becoming a restraining factor for the growth of the meat snacks market. The major factor that the meat snack market challenges are the rising trend of vegetarianism and the decreasing market for red meat, thus declining the market trends and the meat snacks market outlook. The market's growth is restrained by price variations connected with high final product costs and raw materials. Moreover, there are various ingredients included in the snacks that increase the fats in the human body which affects heart disease and obesity.
Despite this challenge, manufacturers can improve their methodology which may not affect the human body harmfully which helps to increase the market growth and consumer satisfaction.
Challenges
The rising cost of raw materials:
The rising cost of raw materials is a main problem in the meat snacks market. Meat is the primary ingredient in most meat snacks, and its price has been continuously increasing in recent years. The cost of producing meat has also been rising, due to factors such as higher energy costs, feed costs, and labor costs. These are all factors that affect the cost of meat. Moreover, COVID-19 outbreak and various factors have disrupted the supply chain. It makes it expensive and difficult to produce and transport meat. This rising cost reduced the innovation and technology that is invested by the manufacturing companies.
Additionally, surging prices of raw materials can also have a negative impact on the sustainability of the meat snacks market because manufacturers may be more likely to source meat from suppliers that use less sustainable practices in order to reduce their prices.
Opportunities
Increasing trend of social media marketing:
Social media marketing positive way for meat snack businesses to increase their sales and reach new customers. There are more social media platforms that help to increase the sale of meat snacks such as Instagram, TikTok, Facebook, WhatsApp, you tube are various showcasing social media platforms that are beneficial to markets. Manufacturers can use these platforms to share photos and videos of their products, as well as recipes and other content that is relevant to their target audience. It shows the target audience according to their demographics, online behavior, and interests. Social media platforms are a considerable way for meat snack businesses to engage with their customers. Businesses can use social media to answer customer questions and respond to feedback. By using social media many businessmen can share their stories, behind-the-scenes content, and reasons behind why they have launched the product and can connect with customer’s personal level.
Report Snapshot
Segment analysis of the meat snacks market:
The Meat snacks market is segmented by product, source, distribution channel, and region.
By Product Type
Based on product market is bifurcated into pickled sausage, ham sausage, jerky, meat sticks, pickled poultry meat, and others.
Jerky segment held the largest global meat snacks market share in 2022.
Jerky is a source of protein which is important for the growth of the market. It is a non-perishable, portable snack making it easier for consumption. It has benefits with a long shelf life making it suitable for consumer choices. Jerky has a wide variety of flavors and meat types, allowing for different taste preferences among consumers. This is a major element that helps to attract the consumer. Various jerky brands have invested in branding and marketing which is significant to create recognition and strong brand loyalty among the consumers.
Moreover, meat sticks are healthy snacks which is a beneficial option for people with certain health conditions, including high blood pressure, anemia, and diabetes. Meat sticks are utilized as an ingredient Bin recipe, such as salads, wraps, and soups. They also can be added to other snacks and trail mixes.
By Source
The source is further segmented into pork, beef, and poultry.
Beef dominated the global meat snacks market in 2022.
Beef is one of the largest consumed meats worldwide. Its familiarity makes beef jerky a natural choice for people who are looking to try meat snacks. Beef is rich in protein and it is easily available to consumers which helps with bodybuilding and maintaining the proper diet. Moreover, its demand is increasing due to high-protein, low-carb snack options, long shelf life owned to low moisture content, and various preservation processes. This makes it an easier snack option that can be stored for longer periods without refrigeration.
Additionally, poultry is a rich source of protein and low in fat, making it an important ingredient in meat snacks. Some common poultry that are used in meat snacks such as chicken, turkey, duck, quail, and goose. This helps build muscle and lose weight and it contains low carbohydrates.
Regional Analysis
In North America, the meat snacks market is expected to grow at a significant rate during the forecast period, from 2023 to 2030.
The surge in the rate of snack food consumption, the increase in demand for convenience food products, and the leap in domestic and international manufacturers in the region have surged the revenue growth of the meat snacks market. Various products including meat sticks, and jerky are very popular in the region of Europe and North America. Moreover, with the leaping popularity of grab-and-go-protein snacks, producers of jerky and dried meat snacks are investing in introducing new products to meet the increasing demand.
Asia Pacific is also the fastest-growing segment in the markets due to the leap in population and rising demand for meat products in the various regions. Moreover, China is one of the largest pork meat producers followed by poultry and beef. The availability of major retail distribution channels in China which help to market highly in the upcoming year.
Competition Analysis
Segmentation Analysis of the Meat Snacks Market
By Product Type
Drivers Propelling the Demand for meat snacks market include:
The rising demand for portability of snacks and high-nutrition content among people:
The rising popularity of the portability of snacks and high-nutrition content is positively affecting the growth of the meat snacks market. This are good source of protein, which is a helpful nutrient for repair and muscle growth. They are the source of B vitamins, zinc, iron, and other nutrients. Meat snacks are a better option for a customer who wants to improve their diet. Moreover, according to the Press Information Bureau (PIB) of the government, the total meat production in the country is 9.29 million tons for the year 2021-22 with an annual growth rate of 5.62%. People are more aware of the nutritional advantages of meat such as maintaining muscle mass, high protein content, and ability to help build high muscle.
Increasing consumption of sausage meat snacks:
The increasing consumption of sausage meat snacks is helping to boost the meat snacks market. Sausage meat snacks have high levels of vitamin B-12 and iron both of which are very crucial elements for hemoglobin production and healthy red blood cells. It is helpful for the proper functioning of the kidney which is beneficial to the proper functioning of the body. It helps to improve thyroid health, boosts the immune system, and can reduce risk of heart diseases. There are various types of sausage including cooked, cooked smoked, fresh sausage, and dry sausage. Additionally, freshly cooked sausage provides 53.33% of Vitamin D, 35.83% of Vitamin B12, 34.37% of total lipid fat, 23.33% of sodium, 22.81% of histidine, 22.25% of isoleucine which helps to increase the proper functioning of the human being.
Recent Developments
In January 2022, Benestar Brands, a leading salty snacks company with operations across the US and Mexico, announced the acquisition of 4505 Meats. The acquisition adds to Benestar's expanding roster of brands, including Mac's, PORQ, Turkey Creek, Pretzilla, Chicas, and Cazo de Oro, and bolsters Benestar as the clear leader in the pork rinds and meat snacks markets. This acquisition will help to grow the market majorly which also fulfills the needs of consumers which benefits market expansion.
In March 2023, Chomps Launched Meat Sticks unveiled two new flavors: Taco Beef and Habanero Beef, which were highly requested by consumers. This is help to satisfy the various needs of consumers which turns out to be beneficial for the boost growth of the market in upcoming years.
Restraint
Surge in the occurrence of heart diseases and obesity:
Surge in the occurrence of heart diseases, obesity is becoming a restraining factor for the growth of the meat snacks market. The major factor that the meat snack market challenges are the rising trend of vegetarianism and the decreasing market for red meat, thus declining the market trends and the meat snacks market outlook. The market's growth is restrained by price variations connected with high final product costs and raw materials. Moreover, there are various ingredients included in the snacks that increase the fats in the human body which affects heart disease and obesity.
Despite this challenge, manufacturers can improve their methodology which may not affect the human body harmfully which helps to increase the market growth and consumer satisfaction.
Challenges
The rising cost of raw materials:
The rising cost of raw materials is a main problem in the meat snacks market. Meat is the primary ingredient in most meat snacks, and its price has been continuously increasing in recent years. The cost of producing meat has also been rising, due to factors such as higher energy costs, feed costs, and labor costs. These are all factors that affect the cost of meat. Moreover, COVID-19 outbreak and various factors have disrupted the supply chain. It makes it expensive and difficult to produce and transport meat. This rising cost reduced the innovation and technology that is invested by the manufacturing companies.
Additionally, surging prices of raw materials can also have a negative impact on the sustainability of the meat snacks market because manufacturers may be more likely to source meat from suppliers that use less sustainable practices in order to reduce their prices.
Opportunities
Increasing trend of social media marketing:
Social media marketing positive way for meat snack businesses to increase their sales and reach new customers. There are more social media platforms that help to increase the sale of meat snacks such as Instagram, TikTok, Facebook, WhatsApp, you tube are various showcasing social media platforms that are beneficial to markets. Manufacturers can use these platforms to share photos and videos of their products, as well as recipes and other content that is relevant to their target audience. It shows the target audience according to their demographics, online behavior, and interests. Social media platforms are a considerable way for meat snack businesses to engage with their customers. Businesses can use social media to answer customer questions and respond to feedback. By using social media many businessmen can share their stories, behind-the-scenes content, and reasons behind why they have launched the product and can connect with customer’s personal level.
Report Snapshot
| Attributes | Details |
| Market Size in 2022 | USD 10.31 Billion |
| Market Forecast in 2030 | USD 18.36 Billion |
| Compound Annual Growth Rate (CAGR) | 7.5 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Product Type, By Source, By Application, By Distribution Channel and By Region |
| By Product Type |
|
| By Source |
|
| By Application |
|
| By Distribution Channel |
|
| By Region |
|
| Base Year | 2022 |
| Historical Year | 2018-2022 |
| Forecast Year | 2023-2030 |
Segment analysis of the meat snacks market:
The Meat snacks market is segmented by product, source, distribution channel, and region.
By Product Type
Based on product market is bifurcated into pickled sausage, ham sausage, jerky, meat sticks, pickled poultry meat, and others.
Jerky segment held the largest global meat snacks market share in 2022.
Jerky is a source of protein which is important for the growth of the market. It is a non-perishable, portable snack making it easier for consumption. It has benefits with a long shelf life making it suitable for consumer choices. Jerky has a wide variety of flavors and meat types, allowing for different taste preferences among consumers. This is a major element that helps to attract the consumer. Various jerky brands have invested in branding and marketing which is significant to create recognition and strong brand loyalty among the consumers.
Moreover, meat sticks are healthy snacks which is a beneficial option for people with certain health conditions, including high blood pressure, anemia, and diabetes. Meat sticks are utilized as an ingredient Bin recipe, such as salads, wraps, and soups. They also can be added to other snacks and trail mixes.
By Source
The source is further segmented into pork, beef, and poultry.
Beef dominated the global meat snacks market in 2022.
Beef is one of the largest consumed meats worldwide. Its familiarity makes beef jerky a natural choice for people who are looking to try meat snacks. Beef is rich in protein and it is easily available to consumers which helps with bodybuilding and maintaining the proper diet. Moreover, its demand is increasing due to high-protein, low-carb snack options, long shelf life owned to low moisture content, and various preservation processes. This makes it an easier snack option that can be stored for longer periods without refrigeration.
Additionally, poultry is a rich source of protein and low in fat, making it an important ingredient in meat snacks. Some common poultry that are used in meat snacks such as chicken, turkey, duck, quail, and goose. This helps build muscle and lose weight and it contains low carbohydrates.
Regional Analysis
In North America, the meat snacks market is expected to grow at a significant rate during the forecast period, from 2023 to 2030.
The surge in the rate of snack food consumption, the increase in demand for convenience food products, and the leap in domestic and international manufacturers in the region have surged the revenue growth of the meat snacks market. Various products including meat sticks, and jerky are very popular in the region of Europe and North America. Moreover, with the leaping popularity of grab-and-go-protein snacks, producers of jerky and dried meat snacks are investing in introducing new products to meet the increasing demand.
Asia Pacific is also the fastest-growing segment in the markets due to the leap in population and rising demand for meat products in the various regions. Moreover, China is one of the largest pork meat producers followed by poultry and beef. The availability of major retail distribution channels in China which help to market highly in the upcoming year.
Competition Analysis
- Big Chief Meat Snacks Inc.
- Jack Link’s Beef Jerky
- Nestlé USA Inc.
- Oberto Sausage Co Inc.
- Country Archer Jerky Co.
- Stafford Meat Company
- Coppertone Foods LLC
- Bridgford Foods Corporation
- Meat snacks Group
Segmentation Analysis of the Meat Snacks Market
By Product Type
- Pickled Sausage
- Ham Sausage
- Jerky
- Meat Sticks
- Pickled Poultry Meat
- Others
By Source
- Pork
- Beef
- Poultry
By Application
- Functional Use
- Daily Use
By Distribution Channel
- Convenience Store
- E-Retailers
- Modern Trade
- Others
Impact of the COVID-19 Pandemic on the Meat snacks market:
The outbreak of COVID-19 has witnessed a positive impact on the meat snacks market growth. The governments of many regions across the globe have announced lockdowns to prevent the spread of the COVID-19 virus. The pandemic has led to several changes in customer behavior, such as an increased demand for convenience foods and awareness about health and wellness. These changes have created new opportunities for meat snack manufacturers, but they have also posed some problems. It has led to an increased demand for convenience foods. This is because consumers are looking for easy-to-prepare snacks and spend more time at home.
The consumer becomes more conscious about the importance of eating healthy snacks and diet which help to proper body building. Additionally, it affects positively the growth of the market because companies are entering in meat snacks market and raising the competition among them. Therefore, the surge in the demand for healthy foods, and wellness, focus on wealth, and an increase in e-commerce are all elements that are expected to drive the growth of the market.
