Impacted by the global pandemic covid-19 the US meat snack market is slowly recovering. Along with traditional meat options, consumers are shifting towards new and healthy meat snacks that are high in protein, omega-3s, iron, and vitamin B12. The market is projected to grow at a CAGR of 4.5% from 2022-2028.
STORY OUTLINE
- US meat snack market has witnessed significant growth post-pandemic thanks to its variety of items that are high in protein and nutrients.
- Convenience stores have helped this market immensely to grow, as they are driving the maximum sale throughout the country through their stores.
- Americans are among one of the biggest consumers of meat items worldwide that’s the reason its meat snack market is going to increase significantly in the next five years (2023-2028).
According to Ken Research, the US meat market was affected hugely due to restrictions of covid-19 due to nationwide lockdowns and the closing of markets. The market witnessed huge growth post-pandemic as a result the sales of dried meat snacks increased by 5 % in 2021. Meat snacks are becoming the favourite of the working population and youngsters because of their hectic lifestyles. Portable snacks like sticks, jerky, and sausages are providing customers with healthy meat products.
1.Convenience Stores are Driving the Sales of Dried Meat Snacks
Meat snacks are generating huge revenues in convenience stores in the US. Demand for traditional jerky brands such as old trapper was very high among consumers. As it was the third most-sold product in the country’s convenience stores.
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This high demand led to a rise in specialist meat snacks such as snacks made from beef, turkey, and pork.
Following the increasing demand, in 2021, a popular firm in the US meat market Cherkizovo Group launched its meat snack products in three groups: pork, chicken, and turkey snacks. These items were made from dried and cured meat.
2.Factors influencing the rise of meat snacks products in the US
- The US meat market which is all-time high at the moment is expected to grow significantly in the next five years. With the high demand for meat snacks, the market is projected to grow 4.5 % annually from 2023-2028.
- There are a number of reasons behind the significant growth of this market. Such as convenience and portability they provide. Meat snacks like sticks and beef jerky are dried products that make them easy to carry and can be consumed anywhere.
- Other factors are nutrition value, flavor variety, and the rise of e-commerce. Meat snacks offer a source of essential nutrients such as protein, vitamins, and minerals. This dietary profile offers to those looking for a satiating and energy-boosting snack.
- Meat snack brands offer a diverse extend of flavors and taste profiles, catering to different customer inclinations. This assortment energizes repeat buys and experimentation.
- The development of online shopping and e-commerce stages has broadened the availability of meat snacks to customers, making it simpler for them to buy their preferred items.
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3.Key players in the Meat Snacks Market in the US
- At the moment the US has the majority of the share in the world’s total meat snacks market. With the largest market for meat snack products, the US has a more than 20 key players that are operating in the competitive Meat market of the country.
- Conagra Brands, Jack Link’s Protein Snacks, Oberto Sausage, and Hormel Foods Corporation are some of the leading firms in the US meat snack market.
- Recently Conagra Brands announced the acquisition of Thanasi Foods LLC, known for making Duke’s meat snacks. This purchase will help them restructure their products and make them modern as well as premium.
- Jack Link’s protein Snacks are also planning to launch new products such as Beef Sausages, Steak Bites, and Cold Crafted Link ich. These items will be available in a variety of tastes and flavors according to consumer preference.
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- Future of Meat Snacks Market in the Country
- US meat market is expected to reach $160 Bn by the end of 2028. With increasing market demand the number of meat snack consumer are also expected to grow significantly.
- As of 2020, 128 Mn Americans consumed meat snacks and other meat items, one of the highest in the world.
- Americans are considered the heaviest consumers of meat worldwide. Currently, the fifth largest meat eaters in the world.
Conclusion
The US meat snacks market has experienced critical development and recuperation post-pandemic, driven by the rising demand for healthy and convenient meat-based items. With buyers progressively embracing hectic ways of life, portable snacks like sticks, jerky, and sausages have ended up well-known choices due to their high protein substance. Convenience stores play a vital part in driving dried meat snack sales, with traditional jerky brands and specialist meat snacks picking up traction among customers. The market is anticipated to proceed its upward direction, anticipated to develop emphatically in another five years. Key players, such as Conagra Brands and Jack Link’s Protein Snacks, are effectively growing their item offerings to cater to advancing customer preferences. As the market develops, the US meat snacks industry is likely to stay dynamic and profitable.
