Meat Snacks Market

Market Overview

The global meat snacks market size was valued at USD 18.45 billion in 2023. It is estimated to reach USD 31.57 billion by 2032, growing at a CAGR of 6.15% during the forecast period (2024–2032). The global meat snacks market is primarily driven by the surging demand for convenience food items owing to a rapid rise in urbanization and hectic lifestyles. Additionally, the growth of the retail sector selling meat snacks products is further propelling the global market expansion.

Furthermore, the premiumization trends, especially amongst millennials and health-conscious individuals, are anticipated to increase the demand for premium meat snack products, thereby creating opportunities for market vendors to innovate their products.

Meat snacks refer to processed or preserved meat products that are convenient for snacking. They are typically made from beef, pork, chicken, or turkey and come in various forms, such as jerky, sticks, or bars. These snacks are popular for their high protein content, making them favored among consumers looking for quick, protein-rich options. Meat snacks often undergo processes like smoking, drying, or curing to enhance flavor and prolong shelf life without refrigeration, making them suitable for on-the-go consumption.

They cater to diverse dietary preferences, including keto and paleo diets, due to their low carbohydrate content and high protein density. Market trends indicate a growing preference for healthier, minimally processed varieties with natural ingredients and reduced additives. As snacking habits evolve globally, meat snacks continue to innovate with flavors, textures, and packaging to meet the demands of health-conscious consumers seeking portable, protein-packed snack options.

Highlights

• Jerky dominates the product type segment
• Organic dominates the nature segment
• Offline dominates the distribution channel segment
• North America is the highest shareholder in the global market

Market Dynamics

Global Meat Snacks Market Drivers:

Rise in Demand for Convenience Food Products

The burgeoning demand for convenience foods is propelling significant growth in the global meat snacks market. With modern lifestyles becoming increasingly fast-paced, there is a notable shift towards convenient, portable snacking solutions that cater to on-the-go consumption. Meat snacks such as jerky, meat sticks, and meat chips are gaining traction as they offer substantial protein content and satiety, appealing to individuals seeking nutritious alternatives to conventional snacks.

Additionally, urbanization and hectic schedules further bolster this trend, driving the need for easily accessible and quick-to-consume food options. Furthermore, the rise in snacking frequency, as highlighted by the International Food Information Council (IFIC), underscores this shift, with a reported 83% of US consumers indulging in daily snacking in 2021, with convenience being a decisive factor in their snack choices. This cultural shift towards snacking, coupled with evolving dietary preferences favoring protein-rich and convenient options, underscores the robust growth trajectory of the global meat snacks market.

Development of the Retail Sector

The growth of the retail sector is a critical driver of the global meat snacks market. As the retail landscape changes, with the expansion of modern retail formats like supermarkets, hypermarkets, and convenience stores, the availability and accessibility of meat snacks have increased significantly, meeting consumer demands for convenience and variety.

Furthermore, the Food Marketing Institute (FMI) reports that supermarkets and grocery stores accounted for approximately 63% of total retail food and beverage sales in the United States, highlighting the retail sector's importance in shaping consumer preferences and purchasing behaviors. Moreover, the expansion of e-commerce and online retail channels has helped to accelerate the growth of the meat snacks market. According to Statista, the global e-commerce market for food and beverage products is expected to reach $165.8 billion by 2025, allowing consumers to easily access a variety of meat snacks and thereby propelling global market growth.

Global Meat Snacks Market Restraint:

High Cost of Production

The high cost of production presents a formidable challenge for the Global Meat Snacks Market. This market segment involves multiple intricate stages, from sourcing premium-quality meat to processing, flavoring, packaging, and distribution, each contributing significantly to overall production expenses. Particularly impactful are escalating raw material costs, energy expenditures, and labor expenses, which strain profit margins as they rise.

For instance, the United States Department of Agriculture reports a steep increase in retail beef prices to $7.55 per pound, underscoring the financial burden of acquiring top-tier meat, the primary ingredient for meat snacks. Furthermore, the specialized equipment, techniques, and natural ingredients demanded by consumers for clean-label products further inflate production costs. This trend intensifies the financial pressures on manufacturers, compelling strategic adjustments to maintain competitiveness in the market landscape.

Global Meat Snacks Market Opportunities:

Premiumization Trend

The premiumization trend in the food and beverage industry has significantly bolstered opportunities within the global meat snacks market. As consumer preferences shift towards healthier and higher-quality snack choices, there is a notable willingness to invest in products that meet these criteria. According to a study by the International Food Information Council (IFIC) in 2021, 54% of US consumers indicated a readiness to pay more for foods and beverages labeled as "premium" or "high-quality." This trend is particularly pronounced among millennials and health-conscious individuals, who are driving the demand for premium meat snacks.

In response, manufacturers in the meat snacks sector are innovating with premium product lines that emphasize top-grade meats, natural ingredients, and artisanal production techniques. These offerings cater to discerning consumers seeking nutritious, convenient, and indulgent snack options. This strategic focus not only aligns with evolving consumer preferences but also positions brands to capitalize on the growing market for premium meat snacks globally.

Regional Analysis

North America Dominates the Global Market

Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America holds a dominant position in the global meat snacks market, driven by robust consumer demand for protein-rich, convenient snack options. The United States, in particular, stands out as the largest market within the region and globally. Key factors contributing to the market's growth include a strong culture of snacking, increasing health consciousness among consumers seeking protein-packed snacks, and a preference for on-the-go convenience. According to the International Food Information Council (IFIC), 64% of American consumers prioritize protein in their diets, boosting the demand for meat snacks. Additionally, consumers are also leaning towards clean-label and natural meat snacks, seeking products free from artificial additives and preservatives. Furthermore, the U.S. market is characterized by significant product innovation, with companies introducing new flavors, meat types, and packaging formats to attract consumers. For instance, brands like Jack Link's and Krave have expanded their product lines to include options like grass-fed beef jerky and gourmet flavors such as truffle and thyme.

Moreover, partnerships with retail giants and convenience stores enhance product visibility and accessibility across urban and suburban areas. The market's resilience is further supported by strategic mergers and acquisitions aimed at expanding product portfolios and geographic reach. Despite challenges such as health concerns associated with processed meats and increasing competition from alternative protein sources, North America's meat snacks market is poised for continued expansion. Also, the ongoing investments in product development, marketing campaigns promoting nutritional benefits, and expanding retail channels are expected to fuel further growth in the coming years.

Europe is a large sub-dominant area in the worldwide meat snack industry, with a growing demand for quick and protein-rich snacking choices. Europe represents a growing market for meat snacks, driven by evolving consumer preferences towards healthier and more convenient snack options. Countries like the UK, Germany, and France are pivotal in shaping the region's meat snacks landscape. There is a notable shift towards premium and organic products, driven by increasing health consciousness among consumers. Artisanal and gourmet meat snacks are gaining popularity, appealing to those seeking higher-quality alternatives to traditional snacks.

Additionally, regulatory initiatives promoting sustainable practices and transparency in food labeling further influence consumer choices. The European Commission's Agriculture and Rural Development report notes the increased demand for traditional cured pork delicacies like biltong and droëwors, especially in Western and Northern European nations. Furthermore, continued economic stability and urbanization trends are expected to fuel further growth in the European meat snacks market. Moreover, the meat snack industry in Europe is experiencing an increase in demand for new and healthier options, such as grass-fed, organic, and free-range meats, as well as plant-based meat substitutes.

Segmental Analysis

The global market is bifurcated into product type, nature, and distribution channels.

Based on product type, the global meat snacks market is segmented into Jerky, sticks, bars, and others.

Jerky dominated the market during the forecast period. Jerky, a popular dried and cured meat snack, is a staple in the global meat snacks market. Made by slicing lean meats like beef, pork, or turkey into strips and drying them through methods like air-drying or dehydration, jerky offers an extended shelf life, high protein content, and easy portability. Particularly favored in North America, jerky is beloved for its familiar texture and flavor among meat snack enthusiasts. It aligns with growing consumer preferences for protein-rich, healthy snacks due to its low fat and carbohydrate content. As part of the broader meat snacks market, jerky continues to attract consumers seeking convenient, nutritious alternatives, driving its sustained popularity and market growth globally. Its appeal lies not only in its nutritional benefits but also in its convenience as a ready-to-eat snack suitable for various lifestyles and dietary preferences.

Based on nature, the global meat snacks market is segmented into organic and conventional.

Organic dominated the nature segment. Organic meat snacks are created from animals bred organically and fed organic feed with no antibiotics, hormones, or synthetic chemicals. These snacks are made in accordance with high organic standards that promote animal care, environmental sustainability, and natural agricultural techniques. Organic meat snacks are gaining popularity as consumers seek healthier and more ecologically sustainable eating options. Organic meat snacks are seen as better alternatives to traditional snacks since they are free of synthetic chemicals, antibiotics, and hormones, which appeals to health-conscious customers. Organic meat snacks are connected with greater quality, better flavor, and more transparent manufacturing procedures. Customers are prepared to pay a premium for organic products because they guarantee ethical agricultural techniques, animal welfare, and low environmental effects.

Based on the distribution channels, the global meat snacks market is bifurcated into offline and online.

Offline dominates the distribution channel segment. In the global meat snacks market, offline distribution channels play a pivotal role in reaching consumers through established brick-and-mortar outlets, including convenience stores, specialty stores, hypermarkets, and supermarkets. These physical retail locations facilitate direct engagement, enabling consumers to explore, compare, and purchase a variety of meat snack products in person. The preference for offline purchasing is driven by convenience and accessibility, bolstered by the extensive presence of supermarkets, hypermarkets, and convenience stores across diverse geographical locations. These outlets offer a wide array of meat snack options such as jerky, sticks, bars, and sausages, catering to diverse consumer preferences and contributing significantly to sales growth in the offline segment. The diverse product offerings in offline retailers not only attract a broader customer base but also enhance sales volumes, underscoring the dominance and effectiveness of offline distribution channels in the global meat snacks market.

Recent Developments

• May 2024- Western Smokehouse Partners, a meat snack maker, purchased Golden Valley Natural, a firm situated in Shelley, Idaho. Western Smokehouse stated that the strategic alliance will increase its market presence and services. Western Smokehouse further stated that the acquisition of Golden Valley Natural demonstrates its dedication to innovation and expansion.
• January 2024- Country Archer Provisions, a meat snacks company, is introducing a range of high-protein beef sticks. The product is intended as an on-the-go protein source that blends nutrients from grass-fed beef with organ meats, such as liver and heart, to provide a number of functional advantages. Country Archer created the recipe in response to growing interest in the nutritional and environmental advantages of organ meats, with Taste-wise naming offal as one of the top ingredient trends for 2024.