The Meat snacks market is anticipated to reach a worth of US$ 10.1 billion by 2022 and then grow at a CAGR of 7.7% from 2022 to 2032, hitting US$ 21.3 billion by 2032 that year.
Meat snacks are no longer isolated to convenience stores; they may even be found in refrigerators and retail outlets’ ambient aisles. Some supermarkets have end-cap displays dedicated to meat snacks.
Backpackers can find them in sporting goods stores, as well as kiosks, coffee cafes, and vending machines. As a result of enhanced product visibility, sales have climbed dramatically.
Brands also use unique merchandising vehicles for retail establishments like as racks and displays for optimal assortment and better placement to capitalise on impulsive purchasing.
Due to the high protein content of items such as tuna, prawns, and crabs, FMI predicts a large growth in demand for plant-based seafood over the evaluation period. Demand for meat products is expected to rise as customers shift from plant-based to animal-based meat. The primary players are focusing on developing plant-based meat with the same flavour, texture, and nutritional value as animal 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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The report covers exhaustive analysis on:
- How much is the global meat snacks market worth?
- What is the demand outlook for the meat snacks market globally?
- What was the last 5-year CAGR for the meat snacks market?
- At what rate will meat snacks demand grow in Europe?
- At what rate will meat snacks demand grow in North America?
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