Dublin, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The "Meat Snacks Market Global Forecast 2021-2027, Industry Trends, Share, Insight, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Meat Snacks Market will be worth US$ 14.31 billion by 2027.
In recent years, the consumption of meat snacks has increased substantially due to the tendency to reduce caloric intake, lack of time, and increased consumption of foods with high vitamin, protein, or mineral content. Meat snacks are an essential part of people's diets and constitute one of the fastest-growing food industry segments. It is a ready-to-eat (RTE) food product made using dried and dehydrated animal-derivative raw materials with added flavourings and seasonings.
The meat snacks industry is growing epic, with innovative flavours to unique protein and ingredients. Millennia are driving the snacking trend, and they prefer less processed items with more natural and lower-sodium ingredients with taste and trendy flavours. The escalating demand for convenient and healthy snacking items on account of hectic lifestyles and inflating disposable incomes represents one of the significant factors propelling the global meat snacks market growth.
Nestle Group, Hormel Foods, Conagra Brands, Bridgford Foods, and Hershey lead the meat snacks market. Major players have focused on long-term strategies, flavours, innovation, and product involvement, as the market demand is shifting toward a region-specific and exotic range of tastes.
Based on Product - Jerky Meat Holds the Largest Market Share
The global meat snacks industry is segmented into Sticks, Jerky, Bars, and Others. The jerky segment dominated the market and held the largest market share, as various types of meat jerky were made available quickly. Traditionally jerky was marketed as an affordable, flavoursome snack and convenient and was primarily available at gas stations and convenience stores.
Apart from this, meat sticks are considered the fastest-growing market segment. Consumers are increasingly purchasing ready-to-eat meat sticks and bars snacks from traditional grocery stores or supermarkets. Meat sticks and bars snacks have many flavours and recipes packed very attractively to draw customers' attention. The huge protein content in the product acts as a vitality booster which boosts the sales of meat snacks. As per the report, the Worldwide Meat Snacks Market size will grow with a CAGR of 5.95% during (2020-2027).
Regional Analysis of the Meat Snacks Industry
The Asia Pacific is seeing a rise in the rate of snack food consumption, the surge in demand for convenience food products, wherein meat snacks are seen as primary food products in China. The increase in meat snack consumption in China is partly attributable to a change in consumer eating habits; many young consumers found it more convenient to eat hardier snacks and less frequent meals. The prevalence of meat snacks in China is rising.
Besides, the United States is the largest market for meat snacks in North America. According to The Simmons National Consumer Survey (NHCS) the United States Census, 50% of the U.S. population, nearly 160 Million people, eats meat snacks and beef jerky regularly. In the U.S., jerky was one of the most popular meat appetizers in 2020. As per the research findings, the Global Meat Snacks Industry was valued at US$ 9.55 billion in 2020.
Impact of COVID-19 on Global Meat Snacks Market
The spread of the coronavirus pandemic (COVID-19) is a vital rise in the demand for packaged food items, such as meat snacks. Still, disrupted supply chains and inadequate workforce shortages are hampering market growth. Nevertheless, the market is expected to revive once normalcy is regained.
Product - Market breakup from 4 viewpoints:
1. Jerky
2. Sticks
3. Bars
4. Others
Nature - Market breakup from 2 viewpoints:
1. Organic
2. Conventional
Distribution Channel - Market breakup from 2 viewpoints:
1. Off-Line
2. On-Line
Region - Market breakup from 4 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Rest of World
Company Analysis
1. Nestle Group
2. Hormel Foods
3. Conagra Brands
4. Bridgford Foods
5. Hershey
All key players have been covered from 3 viewpoints:
1. Overview
2. Recent Developments
3. Financial Insights
For more information about this report visit https://www.researchandmarkets.com/r/gesf1o
