Portland, OR, July 28, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global meat snacks market generated $7.4billion in 2018, and is estimated to reach $11.3billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for convenience food due to fast paced lifestyle across the globe and developing retail industrydrive the growth of the global meat snacks market.However,high cost associated with the production of meat snacks is anticipated to restrain the growth of the market. Furthermore,increase in adoption of social media marketingis expected to provide new growth opportunitiesduring the forecast period.
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Covid-19 scenario:
- Major meat companies such as Tyson and Cargill have slowed or shut down their processing facilities due to disrupted supply chain amid lockdown during Covid-19 pandemic.
- The demand for meat snacks as protein supplement is expected to surge during the Covid-19 pandemic due to surge in demand for protein-rich food products to improve the immunity of the body and growing awarenessamong the consumers about healthy eating.
The report offers a detailed segmentation of the global meat snacks market based on product type,nature, distribution channel, and region.
Based on nature, the conventional segmentcontributed to the largest share in 2018, accounting formore than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, theorganic segmentis estimated to portray the highest CAGR of 6.8% during the forecast period.
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Based on distribution channel, the offlinesegmentaccounted for the largest share in 2018, holding nearly three-fourthsof the total share, and is expected to maintain the largest share throughout the forecast period. However,the online segmentis expected to register the highest CAGR of 6.6% from 2019 to 2026.
Based on region,North Americacontributed the highest share, accounting fornearlytwo-fifthsof the total market sharein 2018, and will maintain its dominance throughout the forecast period.However,LAMEA it isexpected to grow at the highest CAGR of 7.5% from 2019 to 2026.
Leading market players analyzed in the research include Conagra Brands Inc., Associated British Foods plc,Golden Valley Natural,General Mills Inc., Jack Links, Hormel Foods Corporation, Meatsnacks Group,Monogram Food Solutions, LLC.,Tyson Foods, and Nestle S.A.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.