US Meat Snack Market Outlook to 2028

US Meat Snack Market Outlook to 2028

Market Overview:

The US meat snack market is one of the largest meat consuming markets worldwide. The growing population of meat eaters in the country is helping the meat snack market to expand its roots in the market even more. The meat snack market is finding huge acceptance from the audience who are searching for quick sources of nutrients and protein in their hectic lifestyle. As a result, the us meat market is expected to grow significantly in the future.

Currently, USA’s 73% population consume meat food items as a result the market for meat snacks is increasing growing with a CAGR of 2% in the last 5 years. Meat snacks such as beef jerky, beef sausages, beef sticks, and cold-crafted link attract a wide range of customers. In terms of revenue, the US meat snack market is only behind China which has the highest revenue from the meat snack industry.

The US meat snack market is a dynamic ecosystem encompassing producers, distributors, retailers, and consumers. Leading meat snack companies like Jack Link's and Oberto collaborate with meat processors to source quality ingredients. These snacks are widely available in convenience stores, supermarkets, and online platforms. Marketing strategies, including social media and endorsements, drive consumer demand. Health-conscious trends have prompted the development of healthier alternatives like turkey or plant-based jerky. The ecosystem is influenced by changing dietary preferences, regulatory factors, and sustainability concerns, as consumers seek convenient, protein-rich options, driving innovation and competition within the market.

The US meat market is dominated by various companies catered by domestic and international players. Jack Lick’s LLC, Conagra Brands, and Oberto Sausages are the leading players in the US meat snack market.

US Meat Snack Market Analysis

The US meat market is growing significantly due to the increasing demand for dried meat snacks among the public. Consumers had a strong preference for traditional brands such as Old Trapper and also it was the third most popular item in the country's convenience stores.

Increasing Consumer demand and changing habits are also driving the growth in the US meat snack market. Another reason behind the growth in this market is these food items are easy to carry and can be stored easily, without the requirement of other external resources.

The US meat market is segmented into supermarkets & hypermarkets, convenience stores, online retail, etc. In 2022, the largest market share is acquired by hypermarkets & supermarkets whereas the e-commerce segment is projected to be the first choice of customers in the future. As these sites provide home delivery and customers can select items as per their preference.

The market is growing rapidly because several companies are investing hugely in this market to expand their business. Jack Link’s LLC is planning to invest a $450 Mn for its new plant in Georgia. similarly, Conagra Brands is also in plans to establish a meat snacks manufacturing facility in Ohio, US. This will lead to the creation of around 1200 new jobs among locals.

Key Trends by Market Segment:

By type of items:The different types of meat snacks in the US meat snack market like beef jerky, meat sticks, meat bites, and sausages. Beef jerky is dominating the meat snacks as it is the most preferred and demanded by the customers in 2022. Beef jerky is consumers’ favorite because is often lean and contains less fat in comparison to other meat-based snacks. Beef jerky is dried and seasoned strips of meat and is one of the foremost well-known sorts of meat snacks, accessible in different flavors and textures. Meat sticks are compact, portable snacks made from processed and cured meats like beef, turkey, or pork. Meat bites are little, bite-sized pieces of meat snacks, ordinarily available in several flavors and combinations. Smoked or dried sausages made from meat, regularly with included flavors or seasonings.

By Type of Distribution Channels:Meat snacks are widely sold in convenience stores due to their movability and drive purchase nature. traditional jerky brands such as old trapper was the third most sold product in convenience stores. Grocery stores and Hypermarket channels are the most preferred channel by customers and are the leading distribution channel in the US meat snack market in 2022. The reason behind this is that Grocery stores and Hypermarket channels offer a wide assortment of meat snack brands and flavors, catering to a broader buyer base.

Furthermore, the developing trend of e-commerce has driven an increment in the accessibility of meat snacks through online retailers. A few gourmet or premium meat snacks are accessible in specialty stores that cater to health-conscious or niche markets.

By Region:The dominant region in the US meat snack market is the western region in the US in 2022. This region holds a significant share due to its strong agricultural base, facilitating easy access to meat processing facilities and sourcing of raw materials. Moreover, the west's central location enables efficient distribution across the country. Additionally, its cultural affinity towards protein-rich snacks aligns with the meat snack market's offerings. While other regions have their strengths, such as the South's flavor diversity and the East's health-conscious preferences, the west's strategic advantages position it as the primary hub for meat snack production and distribution.

Competitive Landscape:

Around 10-12, companies are operating in the US meat snack market. Major players in this market are Jack Link’s LLC, Conagra Brands, Oberto Sausage, Hormel Foods Corporation, Oberto especially meats, Hormel Foods, and Tyson Foods. But the market is dominated by a few players like Jack Link’s LLC and Conagra Brands. These two companies have almost more than half of the meat snack market share. These firms are continuously expanding their business as they tend to add attract more and more customers. Both companies are investing aggressively in the us meat snack market. Jack Link’s LLC is the market leader in beef jerky meat snacks with almost half of the market share. Whereas Conagra Brands have a huge customer base in meat snacks like slim-jim and Dukes.

Recent Developments:

The big players in the market like Jack Link’s and Conagra Brands have recently announced huge investments in the US meat snack market. Jack Link has announced that they will invest $450 Mn to set up a manufacturing plant in Georgia. Similarly, Conagra Brands has also announced that the company will invest more than $100 Mn in Ohio to establish a meat snacks facility there.

These investments will not only help the US meat snack market to grow but will also create huge employment opportunities for the locals. Meat Companies are also planning to launch meat snacks with different and unique flavors than usual ones as it will appeal to a broader audience.

Post-pandemic US meat market has grown positively and has witnessed record sales. One of the major reasons behind this growth is people’s shift towards health-conscious food items that are filled with nutrients and proteins.

Future Outlook:

The US meat snack market is expected to grow at a CAGR of 4.58% from 2022 to 2028 with people shifting towards healthy food items that are high on protein and nutrients.

The demand for meat snacks is likely to continue growing, driven by variables such as expanding well-being awareness, the popularity of high-protein diets, and the need for convenient on-the-go snacks.

Consumers are progressively looking for more beneficial snacking alternatives, and meat snack companies are likely to reply by offering items with clean labels, fewer added substances, and leaner meat choices.

Companies will also contribute to product innovation to present modern flavors, formats, and packaging that cater to different customer preferences and draw in new customer segments.

Meat snack producers might extend their item lines to incorporate a wider variety of meat sorts, flavors, and functional ingredients to meet the advancing needs of consumers.

The rising popularity of e-commerce and online shopping may lead to increased accessibility of meat snacks through digital stages, making it simpler for buyers to access a broader range of items.

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