According to Future Market Insights (FMI), the meat snack market is expected to witness growth at a CAGR of 7.7% and reach a valuation of US$ 21.3 Bn by 2032. The demand for meat products is expected to rise as meat due to growing consumption of healthy meat food products.
Meat snacks are no longer limited to convenience stores they are easily available in fridges and ambient aisle in retail outlets. Some stores have dedicated end-cap displays of meat snack products.
They are accessible in sports stores for backpackers and are also available in different kiosks, coffee shops and vending machines. This has enlarged the visibility of products and has pushed the sale by multitude.
Some other vital strategies practised by brands are distinctive merchandising vehicles for retail outlets like racks and displays for optimal assortment, better placement to count on impulsive buying.
As per FMI, demand for plant-based sea food is expected to surge as products like tuna, shrimp crabs have high protein content during the assessment period. Consumer shift from plant-based meat to animal-based meat is expected to boost the demand for meat products. Key players are focusing on developing plant-based meat that retains same texture, favour and nutritious content as animal-based meat.
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Key Takeaways from Market Study
- Sales of meat snacks are expected to increase at 8% and 7.7% CAGR in North America and the Latin America, respectively, through 2032.
- Asia Pacific is expected to account for 30% market share during assessment year.
- Europe meat snacks market is expected to reach US$ at 2.2 Bn over the forecast period on the back of rising consumption of meat food products
- By product type, the food industry holds the highest market share and is expected to increase at a CAGR of 5.6%.
“Rising awareness for balanced nutrient-rich eatables is expected to propel the demand for meat snacks products. Key companies are investing in developing substitute plant-based meat products that have similar texture and flavour as animal-based meat. Packaging innovation that prolongs shelf-life of products is expected to gain traction in following years.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of meat snacks market are focusing on research & development to offer different varieties of plant-based and sugar-free meat products. Key players are collaborating and developing new product lines to penetrate untapped markets
- Hormel Foods Corp expands its Columbus® Craft Meats brand by launching Columbus® Pepperoni Paninos in retail stores. The y are dried and premium quality pepperoni rolled with mozzarella cheese and prepared using specific cuts of pork mixed with authentic spices.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global meat snacks market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Meat Snacks Market By Category
By Product Type:
- Jerky
- Sticks
- Sausages
- Others (Pickles, Bars)
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Download complimentary copy of FMI’s market report on ‘Plant Based Revolution’: Growth opportunities and winning strategies in the Plant Based Food Market
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