USD 4.4 billion
Jerky Snacks Market Size, Share, Growth Analysis, By Type(Beef, Pork, Poultry, Others), By Packaging Type(Stand Up Pouch, Flat Bottom Pouch, Others), By End User(Residential, Commercial), By Distribution Channel(Online, Offline (Hypermarkets/ Supermarkets, Specialty Stores, Convenience Stores), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30C2006 |
Region:
Global |
Published Date: April, 2024
Pages:
158
|Tables:
148
|Figures:
68
Jerky Snacks Market Insights
Global Jerky Snacks Market size was valued at USD 5.44 billion in 2022 and is poised to grow from USD 5.84 billion in 2023 to USD 9.72 billion by 2031, growing at a CAGR of 6.70% in the forecast period (2024-2031).
Jerky snacks are popular due to their high protein content. Consumers are shifting away from carbohydrate-rich snacks and toward more nutritional snacks, particularly in North America and Europe. In recent years, consumers' preferences have shifted toward healthy snacks that list all of the ingredients. Consumers prefer more information on product packaging. Non-GMO, gluten-free, low sodium, no artificial ingredients, minimal processing, and no antibiotics are among the emerging industry trends.
Snacking has recently become more popular among consumers than sit-down meals. The growing dietary trend of shifting away from carbohydrates and toward protein is expected to lead to consumers eating more meat than chips in the near future. Furthermore, the availability of a diverse range of flavors such as habanero, teriyaki, maple, pineapple, sriracha, barbecue, pepper, and sweet cherry has enticed customers.
The rise of e-commerce and the widespread use of smartphones has also contributed to jerky snacks market expansion, prompting several small and medium-sized businesses to develop online platforms in order to broaden their distribution channels. The online distribution channel has benefited manufacturers, particularly small businesses. Businesses target millennial clients, one of the highest density categories, resulting in high market adoption of the products.
US Jerky Snacks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Beef
Fastest Growth
Pork
Growth Rate
6.7% CAGR
Global Jerky Snacks Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Jerky Snacks Market Segmental Analysis
Global Jerky Snacks Market is segmented by Type, Packaging Type, End User, Distribution Channel and region. Based on Type, the market can be segmented into Beef, Pork, Poultry, Others. Based on Packaging Type, the market is segmented into Stand Up Pouch, Flat Bottom Pouch, Others. Based on End User , the market is segmented into Residential, Commercial. Based on Distribution Channel, the market is segmented into Online, Offline (Hypermarkets/ Supermarkets, Specialty Stores, Convenience Stores, Others). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Jerky Snacks Market Analysis by Product:
In 2019, the beef segment dominated the jerky snack market, accounting for more than 50.0% of total revenue. Protein, minerals, and vitamins are abundant in these foods. Among red meats, beef is the most popular among Americans. Beef jerky was traditionally sold as an inexpensive, convenient, and flavorful snack at gas stations and convenience stores. Consumers' preference for grass-fed beef has been growing in recent years. Beef products account for more than half of Jack Link's Beef Jerky's revenue share, the market leader in jerky snacks.
Jerky Snacks Market Analysis by Distribution Channel:
In 2019, the offline distribution channel held the largest share of the jerky snacks market, accounting for more than 75.0% of total revenue. Regular grocery shoppers still prefer supermarkets, hypermarkets, and convenience stores. Food and beverages are purchased by a large number of consumers worldwide from traditional grocery stores or supermarkets. However, the online distribution channel is expected to grow at the fastest CAGR of 7.1% between 2021 and 2028.
Global Jerky Snacks Market By Product, 2021 (%)
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Jerky Snacks Market Regional Insights
North America dominated the jerky snack market in 2019, accounting for 50.0% of the revenue share. According to the Simmons National Consumer Survey (NHCS) and the US Census, approximately 50.0% of the US population, or nearly 160 million people, consume meat snacks and beef jerky on a regular basis. Jerky is one of the most popular meat appetizers in the United States. Furthermore, the majority of the adult population in the United States consumes snacks at least once per day. This country has the world's largest snack market.
Asia Pacific is expected to see significant growth in the global jerky snacks market owing to growing popularity of meat sausages in the region. The rising demand for meat snacks in emerging markets such as China and India, owing to their growing populations, is expected to drive jerky snacks market growth. Long working hours, as well as the growing popularity of healthy snacking to avoid the negative health effects of junk food, are some of the factors that are expected to drive market growth in the region.
In Europe, on the other hand, the jerky snacks market is expected to grow at the fastest rate of 9.8% from 2021 to 2028. The rising demand for healthy protein-enriched snacks, as well as rising awareness of a healthy lifestyle, are driving the market growth. The region's potential markets include Germany, the United Kingdom, Luxembourg, and Belgium. The major players have been entering the market in order to capitalize on the growing demand for jerky snacks. For example, in September 2017, Jack Link's Beef Jerky announced plans to open a new manufacturing facility in the United Kingdom to increase production capacity.
Global Jerky Snacks Market By Geography, 2021-2028
- Largest
- Fastest
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Jerky Snacks Market Dynamics
Jerky Snacks Market Drivers
- Snacking habits of consumers are becoming more sophisticated, and they frequently seek functional benefits. This trend eventually resulted in an increase in demand for specialty snacks such as meat snacks, which are quick food products made from various meats such as beef, turkey, and pork. Furthermore, consumers are looking for high-protein snacks and traditional meat items that have been reinvented with more complex flavor combinations and formulations for a natural product image. In addition, introducing less-common protein sources such as turkey, seafood, and game meats, as well as expanding offerings in the refrigerated case through power packs, bars, and deli bites, is giving the category a new push and creating more snack occasions.
Jerky Snacks Market Restraint
Rising popularity of vegan and vegetarian diets is expected to stifle jerky snacks market growth. Plant-based meat snacks are gaining popularity among consumers and are expected to limit market growth in the coming years. In addition, ethical concerns may stymie the growth of the jerky snack market in some countries, including India.
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Jerky Snacks Market Competitive Landscape
Growing demand for the product in recent years has allowed both large and small businesses to enter the market. International food companies such as The Hershey Company, Conagra Brands, Inc., and General Mills, Inc. have entered the jerky snack market by acquiring existing firms. For example, The Hershey Company purchased KRAVE Pure Foods, Inc., a manufacturer of all-natural premium jerky, in January 2015. With this acquisition, the company entered the market to capitalize on the rapidly growing demand for meat snacks. Similarly, General Mills, Inc. acquired Epic Provisions, a producer of high-end animal protein, in January 2016. Furthermore, startups with creative and appealing names are entering the market. This growing number of players is expected to increase market competition.
Top Players in the Global Jerky Snacks Market
- The Blue Ox Jerky Company
- Jack Link's Beef Jerky
- The Hershey Company
- Oberto Snacks Inc.
- Conagra Brands
- Country Archer Jerky Co.
- Devour Foods
- Old Trapper
- JerkyXP
- Marks & Spencer
Jerky Snacks Market Recent Developments
- In March 2022, Beyond Meat, Inc., a plant-based meat company, and PepsiCo, Inc. announced the invention of the first plant-based jerky in their joint venture. This step aims to expand the product portfolio and increase its reach among consumers.
- In May 2021, Bai Capital, a private investment firm, announced the acquisition of Valeo Foods Group, a European food company. This acquisition aims at strengthening the company’s position and accelerate growth.
Jerky Snacks Key Market Trends
- Consumers aged 34 and under are more likely than their elders to prioritize protein in their diets, which is a major driver of the jerky snack category. This, combined with their increasing snacking proclivity, has greatly expanded the potential of the protein snack segment. Such snacks also benefit from perceived nutritional advantages over traditional corn and potato chips, as well as their relative uniqueness, which appeals to younger customers seeking new and unusual consuming experiences.
Jerky Snacks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, growing trend of premiumization, fortified products, and clean label is supporting the growth of the food and beverage industry. Consumer sentiments and preferences for premium, safe, and healthy food products shape the global food and beverage industry, as well as the global meat snacks market. The meat snacks market is expanding at an incredible rate, driven by novel innovations that are flavorful and fortified with unique and healthy proteins and ingredients.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.44 billion |
| Market size value in 2031 | USD 9.72 billion |
| Growth Rate | 6.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Jerky Snacks Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Jerky Snacks Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Jerky Snacks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Jerky Snacks Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Jerky Snacks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Jerky Snacks Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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