Market Trends of Meat Snacks Industry
Rising Demand for Convenient Snacking Options
Consumers are constantly seeking convenient snacking options that are being upgraded by significant manufacturers operating in the meat snacks market. Meat snacks are becoming extremely popular, especially among the working population of the country and the rising young generation of consumers due to their hectic lifestyles. According to Convenience Store Products magazine, in 2021, meat snacks generated nearly USD 2.16 billion in sales in convenience stores in the United States. Among traditional jerky brands, the Old Trapper was the third most-sold product in United States convenience stores.
Consumers' snacking habits are becoming more sophisticated, and they often crave functional benefits. This trend eventually led to a surge in demand for specialist snacks like meat snacks, a quick food product made from various types of meat, including beef, turkey, and pork. Further, consumers tend to look for snacks with high protein and traditional meat items reinvented with more complex flavor combinations and formulations for a natural product image. For instance, in March 2021, Cherkizovo Group launched its new meat snack product range under the Cherkizovo Premium brand in three groups: pork, chicken, and turkey snacks. The snacks are made of cured and dried meat. Also, introducing less-common protein sources, including turkey, seafood, and game meats, and expanding offerings in the refrigerated case through power packs, bars, and deli bites, is giving the category a new push and an opportunity for more snack occasions.
North America Holds a Prominent Share in The Market
The North American region dominates the global savory snack market as consumers prioritize the portability, convenience, and indulgence offered by savory snacks. Additionally, the snackification trend among the consumers in the region is an all-day habit, with snacking at least once a day among all ages consumers. Moreover, consumers in the market prefer to consume more snacking products over standard meals resulting in increasing sales of meat snacks as consumers would want to compensate for their nutrition intake with healthy alternatives. For instance, the Food and Health Survey Spotlight of 2022 has revealed that about 73% of consumers snack once a day and 14% of these consumers tend to snack more than twice a day.
Also, with the increasing popularity of grab-and-go protein snacks, producers of jerky and dried meat snacks are capitalizing on the concept by introducing new products to meet the growing demand. Players are also concentrating on producing premium products, intending to entice North American consumers of the higher income group with their no-preservative and additive products, thus, driving the segment. For instance, in March 2023, Chomps company launched two new flavors of meat snack products in the beef category in the United States. As per the company, the products are Taco Beef and Habanero Beef containing 10 grams of protein, 100 calories, and no added sugar.
