Meat Snacks Market Massively Influenced by Macroeconomic Factors

Posted by Saoji P on March 18th, 2020

Meat snacks are defined as popular convenience snacking items that are prepared from meat products such as beef, pork turkey, and others. Different types of meat-based snack products are available such as sausages, sticks, jerky, and others. Meat snacks are considered as high sources of protein content and act as an alternative for raw and cooked meat products. The availability of the different types of flavors such as pepperoni, teriyaki, and spicy red pepper tends to attract a large consumer base. Moreover, the change in consumer lifestyle coupled with a shift in dietary patterns and working demographics has surged the demand for meat-based snack products. The growing trend towards convenience food items is further expected to boost the growth of the market.

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The North America meat snacks market is bifurcated based on type into jerky, sticks, strips & bites, bars, sausages, and others. The jerky segment accounted for the largest share in the North America meat snacks market. Jerky is defined as the lean trimmed meat, which is cut into strips followed by the drying process to prevent spoilage. The demand for jerky is increasing is rising owing to consumer preference towards jerky form meat snacks. The growing demand of consumers is primarily supported by an increasing number of manufacturers procuring jerky based meat snacks. Therefore, high popularity among the consumers is boosting the demand for jerky in the North America meat snacks market.

Nowadays, consumers are becoming more health-conscious owing to the seemingly limitless access to information online. This has many positive effects for businesses looking to market the meat snack products rich in nutrients such as omega-3s, iron, and vitamin B12. Health-savvy consumers are more likely to look for precise information associated with the nutritional food products they are purchasing. An omega-3 is considered ideal for maintaining a healthy heart, and thus, the consumer prefers meat snack products enriched with omega-3. Awareness of the health advantages of omega-3 is relatively high among the population in the US, Canada, and Mexico. Increasing consumer awareness regarding health and wellness consciousness is propelling the demand for meat snack products rich in nutrients. Furthermore, factors such as consumer awareness of health issues, a greater focus on fitness, higher personal incomes, and rapid urbanization considered boosting factors for the rising demand for nutrition-rich meat snack products. This further provides a huge opportunity for the key players operating in the meat snacks market. The key producers in the market are constantly focusing on introducing meat snack products that rich in nutrition to attract a new consumer segment in developed countries. These factors are projected to boost the meats snacks market over the forecast period.

North America meat snacks market is dominated by the US, followed by Canada. The US holds the largest market share in North America meat snacks markets as snacks based on meat is considered as basic food products in the country. The production and consumption of meat snacks are increasing in the US, owing to the growing demand for healthy snacking options in population. Although consumers are becoming conscious of health and, thus, prefer protein-based snacks. The rise in disposable income of consumers is further expected to boost the growth of meat snacks market. Beef is considered as one of the most preferred types of meat consumed in the country. Consumers follow an active and healthy lifestyle and prefer peppered flavor beef jerky owing to health benefits and taste associated with it. These factors further propel the growth of meat snacks market in North America.

Some of the players present in North America meat snacks market are Bridgford Foods Corporation, Conagra Brands, Inc., Hormel Foods Corporation, Link Snacks, Inc., Monogram Food Solutions, LLC. Oberto Snacks Inc., Old Trapper Smoked Products Inc., The Hershey Company, Tyson Food Inc., and Meatsnacks Group Ltd.

The overall North America meat snacks market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America meat snacks market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America meat snacks market.

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