Jerky Snacks Market Size, Share & Trends Analysis Report By Product (Beef, Pork, Poultry), By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 - 2027

Jerky Snacks Market Size, Share & Trends Analysis Report By Product (Beef, Pork, Poultry), By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 - 2027

The global jerky snacks market size is expected to reach USD 6.5 billion by 2027, expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. The shifting trend from carbohydrate-enriched to protein-based snacks is driving the growth of the market. Jerky snacks offer high nutritional value including proteins and minerals. Such snacks become an ideal meal supplement for campers and hikers owing to light weight and long-lasting features.

The beef segment dominated the market and contributed more than 50.0% of the revenue share in 2019. Traditionally, beef is a favorite kind of red meat among U.S. consumers owing to affordability and flavor. However, the pork and poultry product segments are expected to witness a steady growth in the upcoming years. Several health-conscious consumers prefer chicken products over beef. This will create an opportunity for the manufacturers to expand their consumer base.

North America led the jerky snacks market in 2019, with more than 45.0% of the global revenue share. A large part of the U.S. population consumes jerky snacks on a regular basis, thereby driving the market in the region. However, Europe is expected to witness fastest growth rate in the near future due to the growing demand for healthy and protein enriched snacks among the consumers.

Further key findings from the report suggest:

• In terms of distribution channel, the offline segment dominated the market and accounted for over 75.0% of the revenue share in 2019. A choice of physical verification among consumers is expected to keep the dominance of offline channels including supermarkets and convenience stores
• Europe is expected witness fastest CAGR of 9.8% from 2020 to 2027 owing to the growing demand for healthy and nutritional snacks in countries such as Germany, U.K., and Italy
• The poultry product segment is expected to foresee fastest CAGR of 7.2% from 2020 to 2027. Consumers are expected to prefer poultry or chicken jerky snacks as they take less time to marinate as compared to other red meat options
• North America dominated the jerky snacks market in 2019, accounting for more than 45.0% share of the global revenue in 2019 as large number of population consumes such products as daily snacking options in U.S.
• Major manufacturers include JACK LINK'S, LLC.; Old Trapper Beef Jerky; Oberto Snacks Inc.; Chef's Cut Real Jerky; Frito-Lay North America, Inc.; and Conagra Brands, Inc. New product development is expected to remain a critical success factor for the industry participants.