According to a research report by The Insights Partners, the meat snacks market is projected to grow from US$11.46 billion in 2021 to US$17.68 billion in 2028 with a CAGR growth of 6.4% from now till 2028.
Meat Snacks belong to the category of convenient food that are processed with different meat products such as beef, chicken, pork and other meat. Meat snacks are snacks made by marinating meat in a curing solution and dying it, which provides it a unique flavor and increased shelf life. These meat snacks are sold in the form of jerky, meat sticks, sausages and others, and available in a variety of flavors such as maple, teriyaki, bbq, pepper, habanero and others. These snacks require no cooking, probably only heating if preferred, and can be refrigerated for storage.
The growing demand for high protein snacks have also led to rising growth in this segment, particularly for chicken-based meat snacks.
With the rising concern over food sustainability, more and more consumers are preferring chicken over other meat products as the former accounts for 90% less carbon emissions than beef, lamb and pork meat (see Chart 1.0). Despite this, beef is still the market leader in the meat snacks segment followed by pork (see Chart 2.0).
Presently, the meat snacks market can be broken down into Jerky (39%), Meat Sticks (26.24%), Sausages (6.56%) and Others (28.2%) in 2021. The US still accounted for the largest share of the global meat snacks market. In Asia, the largest market for meat snacks is China which was estimated at US$659.3 million, or 5.8% share of the global market, in 2021.
The global meat snacks market can be divided into the flavored segment which was worth US$9.57 billion in 2021, and the plain segment which was valued at US$1.89 billion in the same period.
