Press release
Global Meat Snacks Market is Expected to Reach USD 5.60 Billion With CAGR 6.80% by 2028 | Meat Snacks Industry Analysis, Size, Share, Growth, Trends
Global Meat Snacks market size was valued at USD 3.53 Billion in 2021 and is expected to reach USD 5.60 Billion by the year 2028, at a CAGR of 6.80%.
A kind of convenient food item is meat snacks. It is made of several meats, including beef, turkey, and pork. Meat is marinated in a curing solution to produce meat snacks, which are then dried to produce the desired result. This type of processing gives meat a distinct flavour and scent. The shelf life of meat snacks is also improved and extended by the marinating process. The concentrating effects of the moisture removal process are thought to be responsible for the distinctive flavour of meat snacks. The industry is being pushed by the rise in demand for nutrient-dense snacks including meat snacks that have been fortified with iron, omega-3s, and vitamin B12.
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Market Dynamics:
Driver:
The market is expanding because to the rising demand for portable snacks and the excellent nutritional value of various meat kinds. The market for meat snacks is predicted to increase due to the growing consumer affluence in developed nations and the popularity of meat snacks.
Market Trends:
Developing Technical Innovations in Meat Snacks Industry
There is a large global consumption of meat snacks. In the US, two thirds of Americans report to regularly eating between-meal snacks, and numerous cutting-edge methods are employed in the production of meat snacks to meet the growing customer demand. The QDSnacks system, for instance, is an evolution of the QDS Process (Quick Dry Slice process). It is a disruptive technology of quick-drying for cured sliced sausage based on improved efficiency of drying time because instead of drying entire bars, the cured and fermented product is dried once it has been sliced so that drying time decreases from about 40 days to about 40 minutes. As a result, technical development helps to decrease the amount of time needed to produce snacks and raises production rates, which fuel the market's growth.
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Segmentation Analysis of the Meat Snacks Market
By product type, the jerky segment is expected to account for the largest share in the meat snacks market during the forecasted period. Jerky is a meat product that has been dried to less than 50% moisture content and It has a greater flavor and texture than uncured beef.
By source, the beef segment is expected to dominate the meat snacks market in the forecast period. Beef jerky is the most popular product in the market. It contains high protein content and essential nutrients, making it more famous in the meat snack market. Additionally, it is a convenient, affordable, tasty, low-quality snack.
By distribution channel, the convenience stores segment is expected to lead the development of the meat snacks market during the forecasted timeframe. Many customers purchase meat snacks from convenience shops.
By flavor type, the regular segment is projected to have the largest share of the meat snacks market. Meat snacks are available in a variety of flavors and forms. Flavors help to enhance the taste of products.
By Type
• Jerky
• Sticks
• Sausages
• Others
By Sources
• Poultry
• Beef
• Pork
• Others
By Flavor Type
• Regular
• Teriyaki
• Peppered
• Others
By Distribution Channel
• Convenience Stores
• Hypermarket/Supermarket
• Online Retail Stores
• Others
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Regional Analysis Of Meat Snacks Market
The North American region is the second most dominated region in the meat snacks market during the forecasted period. The U.S. is a leader in the production of beef and poultry. An increase in the production of meat snacks boosts the growth of the market. According to the U.S. Department of Agriculture (USDA), 20% of meat snacks are produced by the US, out of the world's total production of beef. In the U.S, Canada, and Mexico beef Jerkies are largely produced.
Additionally, the high consumption rate of meat snacks in this region is propelling the growth of the market. For Instance, the data calculated by Statista is based on the U.S. Census data and Simmons National Consumer Survey (NHCS). According to this statistic, 128.73 million Americans consumed meat snacks and beef jerky in 2020. In 2019, meat snack sales in the U.S. amounted to about 3.5 billion U.S. dollars.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Top Key Players Covered In Meat Snacks Market
• Conagra(US)
• Hormel Foods (US)
• Jack Link's (US)
• King Elite snacks (UK)
• Marfood USA (US)
• Meatsnacks group (UK)
• Bridgford food(US)
• Associated British Foods (UK)
• Golden Valley Natural (US)
• General Mills Inc (US)
• Monogram Food Solutions LLC (US) and other major players.
Key Industry Development In The Meat Snacks Market
In March 2022, Slim Jim a US-based snack brand. The meat-snack maker filed for licenses under the names 'Slim Jim', 'Metaverse', and 'Long Boi Gang' and is now looking to bring 'services featuring virtual goods, food products, and non-fungible tokens (NFTs)' to the metaverse. To allow people to buy, sell, trade, and collect Slim Jim food products in the virtual universe.
In March 2021, Under the Cherkizovo Premium brand, the Cherkizovo Group introduced three new meat snack product lines: pork, chicken, and turkey snacks. Meat that has been cured and dried is used to make these meat snack products.
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Table of Content:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Meat Snacks Market by Type
Chapter 6: Meat Snacks Market by Sources
Chapter 7: Meat Snacks Market by Flavor Type
Chapter 8: Meat Snacks Market by Distribution Channel
Chapter 9: Company Profiles and Competitive Analysis
Chapter 10: Global Meat Snacks Market Analysis, Insights and Forecast, 2016-2028
To Be Continue…
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