MEAT SNACKS MARKET ANALYSIS

Meat snacks are snacks made by marinating meat in a curing solution and drying it. Meat processed in this manner provides it with a unique flavor and increases the shelf life of meat snacks. The strong flavor of meat snacks is attributed to the concentrating effects of the moisture removal process. The manufacturing process of meat snacks involves initial meat preparation, preparation of the curing solution, meat processing and curing, and quality check and packaging. The curing solution has antimicrobial effects that prevent growth of harmful bacteria.

Varied flavors added to meat products is a major factor driving growth of the meat snacks market globally. Growing inclination towards spicy, salty, and specific-flavored snacks is increasing growth of the meat snacks market. Manufactures are increasingly focusing on producing Jalapeno, teriyaki, and habanero with flavored meat snacks such as cranberry and pineapple. Increasing introduction of new flavors such as these, in turn, is driving growth of the meat snacks market. Manufacturers are continuously innovating these products in terms of making them easily available to consumers. For instance, development of small and innovative on-the-go packages, makes meat snacks convenient and easy to eat. These environmental friendly and easy-to-carry packaging are increasingly gaining popularity in the meat snacks market. However, fluctuations in costs associated to raw materials and high costs of final products are major restraints to growth of this market.   

Meat Snacks Market Taxonomy

On the basis of meat type, the meat snacks market is segmented into:

• Chicken
• Beef
• Seafood
• Turkey
• Pork
• Others

On basis of products type, the meat Snacks market segmented into:

• Jerky
• Ham Sausages
• Meat Sticks
• Pickled Sausages
• Pickled Poultry Meat
• Others

On the basis of flavors, the meat snacks market is segmented into:

• Peppered
• Original
• Teriyaki
• Smoked
• Spicy
• Hickory
• Others

On the basis of distribution channels, the meat snacks market is segmented into:

• Convenience Stores
• Grocery Stores
• Supermarket
• Hypermarket
• Restaurants
• Others

The market in North America holds a dominant position, due to the U.S. being a leader in production of beef and poultry. According to U.S. Department of Agriculture (USDA), the U.S. produces around 20% of meat snacks, out of world’s total production of beef. Beef Jerkies are largely produced in the U.S, Canada, and Mexico. Import of meat snacks from Canada increased from US$ 384 million in 2010 to US$ 674 million to 2014. Meat sticks is the fastest-growing product in meat snacks market in Canada. Conventional stores is the largest distribution channel in the meat snacks market in this region. Advancements in the meat processing technology and is fueling growth of the meat snacks market in this region.  

Europe accounts for the fastest-growing region in the meat snacks market. Germany, U.K, and France are the leading economies in this region. In 2016, Germany accounted for over 16% of the market share, due to high presence of major manufacturers in the region. Supermarkets and hypermarkets are the main distribution channels in the meat snacks market in the region, which accounted for around 40% of the market share in 2016. Increasing health awareness among consumers regarding protein food and strong distribution channel is expected to boost growth of the meat snacks market in the region, over the forecast period.

Asia Pacific is the fastest-growing region in the meat snacks market. China and India are the major growth engines in the region, owing to the growing population and increasing demand for meat products in the region. According to The Organization for Economic Co-operation and Development (OECD), China is the major producer of pork meat with around 31.3 kg/capita pork meat produced in 2016, followed by poultry and beef. India is a growing economy in the processed meat products for poultry meat. According to National Bureau of Statics of China, specialty and convenience stores are the major retail distribution channels in China, which accounts for major factors boosting growth of the meat snacks market in the region.

Key Player in Meat Snacks Market

Major players operating in the meat snacks market include Jack Link's, King Elite Snacks, Marfood USA, Hormel Foods, ConAgra Foods, Meatsnacks Group, Winterbotham Darby, Nutreco N.V., CampoFrio Foods Group, Oberto Sausage, Duke's Smoked Meats, and Wild Ride Beef Jerky.

Meat Snacks Market Key Developments: 

• On 16^th March 2017, Conagra Brands, Inc. announced its agreement to acquire protein-based snacking business Thanasi Foods LLC, maker of Duke's meat snacks, and BIGS LLC (BIGS), maker of BIGS seeds. This acquisition was executed for restructuring the company’s product portfolio and making it more premium and modern.
• On 4^th October 2018, Jack Link's Protein Snacks announced the launch of its 3 new product innovations in 2019. These snacks include Jack Link's Smoked Beef Sausages, Jack Link's Steak Bites, and Cold Crafted Linkwich. These products are further innovated in different flavors such as hot & spicy, hard salami, and Teriyaki, among others. This launch is expected to enhance the company’s product portfolio.
• On 8^th July 2018, Oberto Sausage launched their Pulled Pork Jerky. This launch was focused on expanding the company’s product portfolio, and provide the customers with a more delicious, convenient, and better snacking products range.