Meat Snacks Market Methodologies, Financial Overview And Growth Prospects Predicted By 2028

Meat snacks are gaining immense traction among consumers as they are rich in protein, iron, creatine, and several vitamins. Moreover, they are available in a variety of sweet and savory flavor, which increases their demand among consumers. Currently, majority of the meat-based snacks available in the market are made with beef or pork. However, with increased health and wellness concerns, people are shifting toward leaner sources of animal protein. Beef, pork, and lamb consist of higher saturated fat content than chicken. Due to increasing prevalence of obesity and heart diseases, consumers are preferring low fat meat products. This factor is driving the demand for chicken-based meat snacks among consumers.

In 2021, North America held the largest share of the meat snacks market, whereas Asia Pacific is estimated to register the highest CAGR during the forecast period. Poultry meat and pork are widely consumed meats across Asia Pacific. According to the National Bureau of Statistics, pork production in China increased to 35.9% in 2021 from previous year. Moreover, the poultry industry is growing rapidly in China, India, Japan, and other Asia Pacific countries, as the demand for poultry meat is increasing significantly. These factors are expected to drive the growth of the meat snacks market across Asia Pacific over the forecast period.

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Impact of COVID-19 Pandemic on Meat Snacks Market
The food & beverages sector faced unexpected challenges due to the COVID-19 pandemic. Government restrictions, such as lockdowns, production shutdowns, travel bans, and border restrictions, disrupted the global supply chains in 2020. Disruptions in manufacturing and raw material sourcing operations hampered the growth of the meat snacks market during the initial months of the pandemic. However, the demand for frozen meat snacks increased amid this global crisis due to panic buying by consumers. Consumers in countries such as the US, Canada, Germany, and the UK dramatically shifted to a plant-based diet. According to research by The Vegan Society, one in every five British people reduced their meat consumption since the start of the pandemic. This factor hampered the demand for meat snacks. In 2021, the marketplace witnessed recovery, as the governments announced relaxation in previously imposed restrictions and permitted manufacturers to work at full capacities. Thus, increased production volumes and improved supply chain operations bolstered the growth of the meat snacks market. The pandemic had a mixed impact on the global meat snacks market.

Distribution Channel Insights
Based on distribution channel, the meat snacks market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment accounted for the largest market share in 2021, whereas the market in the online retail segment is expected to witness the fastest growth during the forecast period. Online retail stores offer various products with heavy discounts. Also, consumers can conveniently buy desirable products remotely through e-commerce platforms, such as Amazon.com, Walmart, and E-bay. Consumers are increasingly preferring online retail platforms for buying meat snacks due to the availability of a wide range of products of different brands at discounted prices and availability of home delivery services. This factor is driving the market growth in the online retail segment.
Tyson Foods Inc, Bridgford Foods Corporation, General Mills Inc, Werner Gourmet Meat Snacks, Premium Brands, Hormel Foods Corporation, Conagra Brands Inc, Link Snacks Inc, Country Archer Provisions, and Organic Valley are among the major players operating in the meat snacks market. These companies mainly focus on product innovation to expand their market size and meet emerging market trends. For instance, in September 2020, Noel Alimentaria, a Spain-based company launched better-for-you, on-the-go meat snacks under the brand 'Picalos.' The company adopted a unique production technology that slowly dehydrates and bakes the snacks in an artisanal way and retains the nutritional qualities of meat. Such products are expected to gain high traction among consumers during the forecast period.
Report Spotlights

• Progressive industry trends in the meat snacks market to help companies develop effective long-term strategies
• Business growth strategies adopted by the meat snacks market players in the developed and developing countries
• Quantitative analysis of the market from 2020 to 2028
• Estimation of global demand for meat snacks
• Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers in the meat snacks market
• Recent developments to understand the competitive market scenario
• Market trends and outlook, as well as factors driving and restraining the growth of the meat snacks market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
• Size of the meat snacks market at various nodes
• Detailed overview and segmentation of the market, as well as the meat snacks industry dynamics
• Size of the meat snacks market in various regions with promising growth opportunities

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This release was published on openPR.