Beef Jerky Market Forecasts to 2030 – Global Analysis By Type (Original Flavored, Spicy, Peppered, Barbecue and Other Types), Packaging (Single Serve Packs, Resealable Packaging and Bulk Packs), Application and By Geography

Beef Jerky Market Forecasts to 2030 – Global Analysis By Type (Original Flavored, Spicy, Peppered, Barbecue and Other Types), Packaging (Single Serve Packs, Resealable Packaging and Bulk Packs), Application and By Geography

According to Stratistics MRC, the Global Beef Jerky Market is growing at a CAGR of 8.7% during the forecast period. Beef jerky is a popular and savory snack that originated as a method of preserving meat. Typically made from lean cuts of beef, the meat is sliced into thin strips and marinated in a flavorful blend of spices, salt, and sometimes sugar. The marinated strips are then slowly dried to remove moisture, resulting in a shelf-stable and protein-packed snack. The dehydration process not only enhances the meat's shelf life but also concentrates its flavors, giving beef jerky its distinctive taste and chewy texture. This convenient and portable snack has become a favorite among outdoor enthusiasts, fitness enthusiasts, and those seeking a protein-rich on-the-go option.

According to the US Census and NHCS, around 50% or over 160 million people of the total United States population eat beef jerky and meat snacks frequently.

Market Dynamics:

Driver:

Innovation and flavor varieties

Innovation and flavor varieties are key drivers, fueling consumer interest and demand. Companies in this market continuously introduce novel production techniques, packaging innovations, and unique flavor profiles to attract and retain customers. The constant pursuit of new and exciting offerings keeps the market dynamic and appeals to diverse consumer preferences. The introduction of innovative ingredients, seasoning blends, and cooking methods enhances the overall consumer experience, fostering loyalty and driving market growth.

Restraint:

Health concerns

Health concerns surrounding beef jerky primarily revolve around its high sodium content, which can contribute to hypertension and cardiovascular issues when consumed excessively. The presence of nitrates and nitrites, used as preservatives in some jerky products, has been linked to certain cancers when consumed in large amounts. Furthermore, the processing methods involved in making beef jerky can result in the formation of potentially harmful compounds such as heterocyclic amines (HCAs) and polycyclic aromatic hydrocarbons (PAHs), which are known carcinogens.

Opportunity:

Premiumization and artisanal offerings

Premiumization in the beef jerky market refers to the trend of consumers seeking higher-quality, more sophisticated options, often willing to pay a premium for superior taste, ingredients, and craftsmanship. This presents an opportunity for brands to offer artisanal offerings, focusing on handcrafted recipes, premium cuts of meat, and unique flavor profiles. By catering to discerning consumers who value authenticity and gourmet experiences, brands can differentiate themselves in a crowded market and capture higher margins. Artisanal beef jerky also taps into the growing demand for natural, minimally processed snacks, appealing to health-conscious consumers looking for protein-rich alternatives to traditional snacks.

Threat:

Price fluctuations in raw materials

Price fluctuations in raw materials, such as beef, pose a significant threat to the beef jerky market. Beef is the primary ingredient in jerky production, and any sudden increase in its price can directly impact production costs. This can lead to higher retail prices, potentially driving away price-sensitive consumers. Moreover, fluctuating prices can disrupt supply chains and production schedules, causing instability in the market. To mitigate this threat, companies may need to diversify their sourcing strategies, invest in alternative protein sources, or adjust pricing strategies to maintain profitability amidst changing raw material costs.

Covid-19 Impact

Initially, panic-buying led to a surge in sales as consumers stocked up on non-perishable items, including beef jerky. However, disruptions in the supply chain, including meat processing plant closures and transportation challenges, caused temporary shortages and increased prices. Additionally, changes in consumer behavior, such as reduced snacking occasions due to stay-at-home orders and economic uncertainty, led to a decline in demand. Despite these challenges, the market adapted by emphasizing online sales channels and introduced new flavors and packaging sizes to cater to evolving consumer preferences.

The original flavoured segment is expected to be the largest during the forecast period

The Original Flavored segment has seen robust growth driven by its timeless appeal and consumer preference for classic flavors. This segment's steady expansion can be attributed to its ability to cater to a wide demographic, including traditionalists and health-conscious individuals seeking high-protein snacks. The Original Flavored Jerky maintains a strong presence in both retail and online channels, leveraging its established reputation and consistent quality to attract and retain customers.

The online retailers segment is expected to have the highest CAGR during the forecast period

The online retailer segment has experienced significant growth due to several factors. Firstly, the convenience and accessibility of online shopping have made it easier for consumers to purchase beef jerky from the comfort of their homes. Additionally, the rise in e-commerce platforms and the proliferation of online marketplaces have provided a vast array of options for consumers to choose from. Online retailers often offer a wider variety of flavors, brands, and packaging sizes. Furthermore, the ability to compare prices and read reviews easily online also contributes to the segment's growth, as consumers can make more informed purchasing decisions.

Region with largest share:

North America has witnessed significant growth in the beef jerky market due to several factors. Increasing consumer demand for convenient, protein-rich snacks has been a driving force, as beef jerky offers a portable and shelf-stable option. Rising health consciousness among consumers has led to a preference for snacks perceived as healthier alternatives to traditional options. The versatility of beef jerky as a snack for various occasions, such as outdoor activities, road trips, and gym sessions, has further fueled its popularity. Moreover, innovative product offerings, including flavored and organic varieties, have attracted a broader consumer base. Additionally, the market's growth has also been supported by effective marketing strategies and widespread availability in retail channels across North America.

Region with highest CAGR:

The Asia-Pacific region has witnessed significant growth in the beef jerky market due to several factors. Rising disposable incomes, changing lifestyles, and increasing demand for convenient and protein-rich snacks are driving this growth. Moreover, the growing popularity of Western-style snacks and increasing awareness about the health benefits of beef jerky among consumers in countries like China, Japan, and Australia have fueled market expansion. Additionally, the presence of key players expanding their product portfolios and distribution networks in the region has further accelerated the market's growth trajectory.

Key players in the market

Some of the key players in Beef Jerky market include Bai Cao Wei, Country Archer Jerky Co., Dollar General, Jack Link's Beef Jerky, JerkyXP, Jurassic Jerky, Liang Pin Pu Zi, Marks & Spencer, Old Trapper , Three Squirrels and Wild Bill's Food.

Key Developments:

In January 2024, Country Archer, a manufacturer of meat snacks, is launching a line of high-protein meat sticks. The product is designed as an on-the-go source of protein that combines nutrients from grass-fed beef and organ meats, such as liver and heart, to deliver a variety of functional benefits. Country Archer developed the formulation in response to rising interest in the nutrition and sustainability benefits of organ meats, with offal being named one of 2024’s key ingredient trends by Tastewise.

In January 2024, Dollar General has taken important step toward becoming a major player in the produce department. The discount grocer is partnering with AI technology provider Shelf Engine as the two roll out automated AI ordering technology for produce. By the end of fiscal year 2023, the AI technology will be in about 3,000 Dollar General stores.

Types Covered:
• Original Flavored
• Spicy
• Peppered
• Barbecue
• Other Types

Packagings Covered:
• Single Serve Packs
• Resealable Packaging
• Bulk Packs

Applications Covered:
• Supermarkets
• Online Retailers
• Street Stalls
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances