The Meat snacks market is anticipated to reach a worth of US$ 10.1 billion by 2022 and then grow at a CAGR of 7.7% from 2022 to 2032, hitting US$ 21.3 billion by that year.
Meat snacks are no longer limited to convenience stores; they can even be found in refrigerators and the ambient aisle of retail outlets. Some supermarkets have dedicated meat snack end-cap displays.
They are available to backpackers in sporting goods shops, as well as at kiosks, coffee shops, and vending machines. Sales have improved significantly as a result of the increased product visibility.
Brands also use unique merchandising vehicles for retail establishments like as racks and displays for optimal assortment and better placement to capitalise on impulsive purchasing.
According to FMI, there will be a significant increase in demand for plant-based seafood over the evaluation period due to the high protein content of goods like tuna, prawns and crabs. It is anticipated that when consumers switch from plant-based to animal-based meat, demand for meat products would increase. The main players are concentrating on creating plant-based meat that has the same flavour, texture, and nutritional value as meat from animals.
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Key Takeaways from Market Study
- Sales of meat snacks are expected to increase at 8% and 7.7% CAGR in North America and the Latin America, respectively, through 2032.
- Asia Pacific is expected to account for 30% market share during assessment year.
- Europe meat snacks market is expected to reach US$ at 2.2 Bn over the forecast period on the back of rising consumption of meat food products
- By product type, the food industry holds the highest market share and is expected to increase at a CAGR of 5.6%.
“Rising awareness for balanced nutrient-rich eatables is expected to propel the demand for meat snacks products. Key companies are investing in developing substitute plant-based meat products that have similar texture and flavour as animal-based meat. Packaging innovation that prolongs shelf-life of products is expected to gain traction in following years.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of meat snacks market are focusing on research & development to offer different varieties of plant-based and sugar-free meat products. Key players are collaborating and developing new product lines to penetrate untapped markets
- Hormel Foods Corp expands its Columbus® Craft Meats brand by launching Columbus® Pepperoni Paninos in retail stores. The y are dried and premium quality pepperoni rolled with mozzarella cheese and prepared using specific cuts of pork mixed with authentic spices.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global meat snacks market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Meat Snacks Market By Category
By Product Type:
- Jerky
- Sticks
- Sausages
- Others (Pickles, Bars)
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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The report covers exhaustive analysis on:
- How much is the global meat snacks market worth?
- What is the demand outlook for the meat snacks market globally?
- What was the last 5-year CAGR for the meat snacks market?
- At what rate will meat snacks demand grow in Europe?
- At what rate will meat snacks demand grow in North America?
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About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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