Jerky Snacks Market

Jerky Snacks Market Outlook (2023 to 2033)

The global jerky snacks market is valued at US$ 715 Million in 2023. As per this new study by Fact.MR, global demand for jerky snacks is forecasted to reach a market valuation of US$ 1.3 Billion by 2033, increasing at a CAGR of 6.3% during the forecast period (2023 to 2033).

Jerky snacks are gaining popularity around the world owing to their high protein content. Consumers, in recent years, are shifting towards more nutritional snacks from carbohydrate-rich snacks, especially in Europe and North America. They are giving more preference to packaged food that is available with minimal processing.

No antibiotics, minimal processing, no artificial ingredients, low sodium, gluten-free, and non-GMO are some noticeable factors that are contributing to the increased demand for jerky snacks. Snacking is becoming popular compared to conventional sit-down meals among consumers. The rising dietary trend toward protein and shifting away from carbohydrates is predicted to stimulate the consumption of meat instead of chips.

The easy availability of a wide variety of flavors of jerky snacks, including sweet cherry, pepper, barbecue, sriracha, pineapple, maple, teriyaki, and habanero has enticed consumers. Widespread use of smartphones and rising e-Commerce are also predicted to contribute to increased demand for jerky snacks while prompting several medium and small-sized businesses for the development of online platforms to broaden distribution channels.

Manufacturers, especially small businesses are getting benefits through online distribution channels. Businesses generally target millennial clients, which is estimated to result in increased adoption of jerky products. Snacking trend is visible significantly among millennial consumers as they give preference to multiple varieties of snacks, which are less processed, available in different flavors, and made with natural ingredients.

People aged 34 or under are more likely to prioritize protein than their elders, which is further expected to boost sales of jerky snacks. Moreover, growing snacking proclivity among this age group has greatly impacted sales of jerky snacks.

Various perceived nutritional advantages of jerky snacks compared to conventional corn and potato chips are also attracting global consumers. Furthermore, the uniqueness of jerky snacks also appeals to younger consumers who are seeking unusual and new experiences.

Increased intake of jerky snacks is projected to lead to some health challenges, including the risk of heart disease and unhealthy weight gain. Moreover, an increasing vegan population is also anticipated to limit the adoption of jerky snacks around the world.

Report Attributes	Details
Jerky Snacks Market Size in 2023	US$ 715 Million
Forecasted Market Value (2033)	US$ 1.3 Billion
Forecasted Market Growth Rate (2023 to 2033)	6.3% CAGR
Canada Market Growth Rate (2023 to 2033)	5.7% CAGR
Germany Market Growth Rate (2023 to 2033)	4% CAGR
Key Companies Profiled	Chef’s Cut Real Jerky; Tillamook Country Smoker; The Meatsnacks Group; The Hershey Company; Old Trapper Beef Jerky; Oberto Snacks Inc.; Jack Link’s, LLC; General Mills Inc.

Which Factors are Influencing the Demand Growth for Jerky Snacks Globally?

“Rise in Sophisticated Snacking Habits of Consumers”

Snacking habits of consumers are becoming more sophisticated. They seek functional benefits through snacks consumed. Further, this trend resulted in increasing demand for various specialty snacks, including meat snacks, which are made from multiple types of meat, including pork, turkey, and beef.

Consumers, in recent years, are looking for conventional meat items and high-protein snacks that are reinvented from more complex flavor formulations and combinations for a natural product image. Furthermore, the introduction of less-common protein sources, including game meat, seafood, and turkey is also estimated to create more snacking occasions. Manufacturers are offering their products in refrigerated cases through deli bites, bars, and power snacks providing jerky snacks a new push.

“Rising e-Commerce Sector and Widespread Use of Smartphones”

In recent years, the e-Commerce business has been growing at a substantial pace. In addition, the growing application of smartphones is also estimated to contribute to rising sales of jerky snacks. Various small and medium-sized businesses are expanding their distribution channels with the launch of their respective online platforms.

Manufacturers of jerky snacks, especially small businesses have increased their opportunities with the adoption of online distribution channels. Firms can easily target millennial consumers with the use of internet channels. Dickson’s EPIC, People’s Choice Beef Jerky, Jerky.com, and Amazon are some well-known suppliers of jerky snacks that are gaining popularity as online sellers.

What Key Challenges are Encountered by Providers of Jerky Snacks?

“Increasing Popularity of Vegetarian & Vegan Diets”

At present time, vegetarian and vegan diets are becoming popular, which is further predicted to stifle demand for jerky snacks. In addition, people are also adopting plant-based meat snacks, which is expected to restrict the adoption of jerky snacks. Some ethical concerns can also stymie the consumption of jerky snacks in certain countries, including India and others.

How Will Sales of Jerky Snacks Fare across North America?

“Increasing Consumption of Jerky Snacks as Appetizers”

North America is forecasted to hold a dominating position in the global market while accounting for more than 50% of the total revenue share.

• As per the US Census and the NHCS (Simmons National Consumer Survey), nearly 160 million people, or around 50% of the total United States population consume beef jerky and meat snacks regularly.

Jerky is consumed as one of the noticeable meat appetizers across the United States. In addition, the majority of the United States adult population consumes snacks once a day regularly. The country holds a substantial position as a consumer of jerky snacks on the global platform.

Asia Pacific is estimated to witness noticeable growth owing to the increasing popularity of various meat sausages across the region. The growing requirement for meat snacks across regional countries, such as China, due to their rising population is predicted to boost sales of jerky snacks. People from Asia Pacific are adopting healthy snacking options due to the increasing popularity of high-protein snacks.

Country-wise Insights

How Will Japan Perform in the Asia Pacific Market?

“High Popularity of Meat Sausages in Japan”

The sales valuation of jerky snacks in Japan is estimated at a 3.4% CAGR during the forecast period from 2023 to 2033. The increasing demand for jerky snacks is owing to the growing popularity of meat sausages. In addition, the Japanese population is making a shift toward healthy snacking to minimize the adverse impact of junk food.

Which Determinates are Fueling the Demand for Jerky Snacks in the United States?

“Shifting Consumer Preference towards Nutritious Snacking”

Demand for jerky snacks in the United States was more than US$ 1.3 billion in 2022. Consumers from the United States are making a shift toward more nutritious snacking options and shifting away from carbohydrate-rich snacks. They are looking for healthier snacks with detailed information about the ingredients utilized.

The sales of jerky snacks in Canada are expected to advance at a CAGR of 5.7% through 2033.

Why is Germany Attracting More Suppliers of Jerky Snacks?

“Growing Demand for Healthy Protein-enriched Snacks in the Country”

Demand for jerky snacks in Germany is anticipated to progress at a CAGR of 4% during the forecast period from 2023 to 2033. The rising requirement for healthy protein-enriched snacks and growing awareness of healthy lifestyles are propelling sales of jerky snacks. Prominent players are entering Germany to capitalize on the rising demand for jerky snacks.

Category-wise Insights

Which Category of Jerky Snacks is the Most Popular?

“Beef Segment to Hold Noteworthy Market Share”

Based on product, the global jerky snacks industry is divided into beef, pork, poultry, and others. Among these, the beef segment is estimated to hold a dominating position in the market while holding more than 50.2% of the total revenue share. Vitamins, minerals, and protein are abundant in beef-based jerky snacks, which is further contributing to their popularity.

Americans are the key consumers of red meat. Beef jerky was sold traditionally as a flavorful, convenient, and inexpensive snack at convenience stores and gas stations. In recent years, consumers are also giving preference to grass-fed beef. Thus, owing to increasing consumer awareness, beef products are projected to account for a substantial share of jerky snacks.

Which Distribution Channel leads the Delivery of Jerky Snacks?

“Offline Distribution Channels to Hold Substantial Market Revenue Share”

Based on the distribution channel, the global jerky snacks market is classified into online and offline segments. Between these two, the offline distribution channel is anticipated to hold a substantial share of revenue, which is more than 70% of the total. At present, regular grocery shoppers give preference to supermarkets, convenience stores, and hypermarkets.

Online distribution channels are forecasted to expand at a significant CAGR of 7% from 2023 to 2033, as per the data provided by Fact.MR, a market research and competitive intelligence provider.

Competitive Landscape

Key providers of jerky snacks are spending a handsome amount on the strengthening of the supply chain management system. The manufacturers aim to deliver quality products to target consumers while adhering to the guidelines set for quality control without causing any significant impact on the environment.

The prominent companies of jerky snacks are adopting multiple strategies, including new development, mergers & acquisitions, and others to generate lucrative opportunities.

For instance :

• A private investment firm, Bai Capital, in May 2021, acquired Valeo Foods Group, a European food company. The acquisition aims to strengthen the position of the company and stimulate growth.

Key providers of jerky snacks include Chef’s Cut Real Jerky, Tillamook Country Smoker, The Meatsnacks Group, The Hershey Company, Old Trapper Beef Jerky, Oberto Snacks Inc., Jack Link’s, LLC, and General Mills Inc.

Segmentation of Jerky Snacks Industry Research

• By Product:

  • Beef
  • Pork
  • Poultry
  • Others

• By Distribution Channel:

  • Offline
  • Online

• By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa