jasiol

The meat snack market is anticipated to showcase a considerable growth rate during the forecast period. The market is driven by the increased demand for meat snacks that are rich in nutrients like omega-3s, iron, and vitamin B12 especially among the millennials (Generation Y) and Gen Z population segments. The greater attention towards the healthy aspect of snacking has led to the emergence of meat bars as a snack category. The growing adoption of meat snacks owing to their offered health benefits is a major factor driving the meat snacks market across the globe.

The meat snack market is segmented based on product type and distribution channels. Based on the product type, the meat snack market is segmented into Jerky, Sticks, Sausages, Others. Based on product type, jerky hold a considerable share in the meat snack market in 2018. Easy availability, affordability, and pleasing taste of beef jerky are the key factors contributing to the high share of jerky in the meat snack market. Based on the distribution channel, the meat snack market is segmented into convenience stores, supermarket/hypermarket, online store, others.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to hold a considerable market share in the meat snack market due to the continuous advancement in the production method of meat snacks. Asia-Pacific is the fastest-growing region in the meat snack market. The meat processing industry in India & China is anticipated to be a key factor contributing to the growth of the meat snack market in the region.

Conagra Brands Inc., Hormel Foods Corp., Jack Link's LLC, Thanasi Foods, and Beyond Meat, among others, are the major manufacturers of meat snacks. These manufacturers are adopting different growth strategies including capacity expansion, mergers and acquisitions, new product launch, and product innovation to remain competitive in the marketplace. Major market players operating in this segment are extending their geographical reach to expand its market share. The establishment of strategic partnerships with major raw material providers of the region to cost saving on new products is likely to drive the growth of this market in the developing countries.