Jerky Market Research Report - Industry Trends, Size, Share, Growth, Regional Scope, Revenue and Complete Analysis
The global jerky market was valued at USD 14.7 billion. During the forecasted period of 2021-2028, the market is expected to grow at a CAGR of 7.5%.
The growing demand for on-the-go food products requiring minimal preparation has fueled the growth of the global jerky market. Jerky consumption has increased due to advancements in packaging technology, the availability of jerky products in various flavors, and the reasonable pricing of the products. Falling red meat prices and consistent per capita consumption has fueled the expansion of the global jerky market. The growing demand for protein-rich and nutritious snacks has increased the global demand for jerky. Because of changing consumer tastes and preferences, the jerky market has seen an increased demand for natural and clean-label jerky products. This trend is expected to impact the global jerky market as major manufacturers expand their consumer base and launch clean-label jerky products. Consumers' health and taste consciousness are major market influences. The global Jerky Market is known for providing services and products that meet the needs of its customers. Aside from the taste, they are also a good source of protein, which distinguishes the product in the market.
Over the forecast period, the growing popularity of jerky products is expected to be a major global market driver. Jerky product manufacturers are also working hard to introduce a diverse range of varieties in the jerky market, which is expected to be a key driver for the global market during the forecast period. Many global jerky manufacturers have also created faux jerky by making jerky from vegetarian raw materials. As the number of vegetarian and vegan consumers grows over the forecast period, this will likely be a key trend in the global jerky market. The rise of e-commerce and the widespread use of smartphones has also contributed to expanding the global jerky market. Manufacturers, especially small businesses, have benefited from the online distribution channel. Businesses target millennial clients, one of the most densely packed demographics, resulting in high product market adoption.
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The global Jerky market is segmented based on distribution channel and source.
According to the distribution channel:
According to the source:
Beef pork poultry
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The global jerky market is segmented into the Middle East, Europe, North America, Asia-Pacific, and Africa.
In 2019, North America dominated the jerky market, accounting for 50.0% of total revenue. Jerky is one of America's most popular meat appetizers. Furthermore, most adult Americans consume snacks at least once daily. This country has the largest jerky market on the planet.
The Asia-Pacific is expected to grow significantly in the global jerky market because of the region's growing popularity of meat sausages. With the growing populations, emerging markets such as India and China are expected to drive global jerky market growth.
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Beyond Meat, Inc. is a plant-based meat company, and PepsiCo, Inc. announced the first plant-based jerky in their joint venture in March 2022. This step aims to broaden the product portfolio and broaden its consumer reach.
Bai Capital, a private investment firm, announced the acquisition of the European food company Valeo Foods Group in May 2021. This acquisition aims to strengthen the company's position and accelerate growth.
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