Jerky Snacks Market Size, Share & Trends Report

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

  • Published Date: Apr, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-426-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global jerky snacks market size was valued at USD 3.9 billion in 2019. The increasing demand for high-grade protein and intriguing flavors that provide quick energy to on-the-go consumers is expected to expand the scope of jerky snacks. This snacking trend is more visible among the millennial consumer group as they prefer snacks that are less processed, made with natural ingredients, and are available in different flavors.

U.S. jerky snacks market size

Jerky snacks are trending owing to its high-protein benefits. Consumers, particularly in North America and Europe, are switching from carbohydrate-enriched snacks to more nutritional snacks. Over the past few years, consumers’ preference has shifted towards healthy snacks displaying the entire list of ingredients used. Consumers prefer more information on the packaging of the product. Clean labels, including non-GMO, gluten-free, low sodium, no artificial ingredients, minimal processing, and no antibiotics are raising trends in the industry.

Lately, snacking has become more popular among the consumers as compared to sit down meals. Growing dietary trend of shifting toward protein from carbohydrates is anticipated to lead consumers to have more meat than chips in the near future. Additionally, the availability of a wide range of flavors including habanero, teriyaki, maple, pineapple, sriracha, barbecue, pepper, and sweet cherry has been attracting consumers. However, ethical issues can hinder the growth of the market for jerky snacks in some countries including India.

Growing demand for the product over the past few years has allowed both big and small companies to enter the market. International companies dealing in the food industry such as The Hershey Company; Conagra Brands, Inc.; and General Mills, Inc. have entered the market for jerky snacks by acquiring the existing firms. For instance, in January 2015, The Hershey Company bought KRAVE Pure Foods, Inc., producer of all-natural premium jerky. Through this acquisition, the company entered the market to tap the rapidly growing meat snacks demand. Similarly, in January 2016, General Mills, Inc. acquired Epic Provisions, producer high-end animal protein. Furthermore, startups are entering the market with innovative and appealing names. This rising number of players is expected to increase competitiveness in the market for jerky snacks.

Distribution Channel Insights

Offline distribution channel held the largest share of the jerky snacks market in 2019 and accounted for over 75.0% of the total revenue share. Supermarkets, hypermarkets, and convenient stores are still highly preferred by regular grocery shoppers. A large number of consumers across the globe buy food and beverages from traditional grocery stores or supermarkets. However, the online distribution channel is anticipated to expand at the fastest CAGR of 7.1% from 2020 to 2027.

The growth is attributed to expansion of the e-commerce industry and high penetration of smartphones across the globe. As a result, the small and middle-sized manufacturers are strengthening their distribution channels by introducing their own online platforms. Online distribution channel has widened the opportunity for the manufacturers, especially for the small players. Through online platforms, companies can target better millennial consumers, one of the largest population groups. Amazon, Dickson's Farmstand, EPIC, People's Choice Beef Jerky, and Jerky.com are the prominent online retailers of the industry.

Product Insights

The beef segment dominated the market for jerky snacks with more than 50.0% of the total revenue in 2019. These products are high in protein, minerals, and vitamins. The U.S. consumers prefer beef the most among the red meats. Traditionally, beef jerky was sold as an affordable, convenient, flavorsome snack and was primarily available at gas stations and convenience stores. Over the past few years, the demand for grass-fed beef has been emerging among consumers. Beef products account for more than half of the revenue share of Jack Link's Beef Jerky, the dominant player of the market for jerky snacks.

Global jerky snacks market share

Many consumers prefer beef products, as they tend to be more filling than other jerky snacks and are better supplement for a meal. In addition, the beef products are more convenient owing to their lightweight and last for a long time. This, in turn, is makes them perfect for activities such as camping and hiking. Some consumers favor beef products owing to their health benefits such as high protein but low fat. These products have become a favorite source of protein for several health and fitness enthusiasts. Furthermore, the availability of the product in several flavors, including original, teriyaki, peppered, mild, and spicy, is also working as an appealing factor for consumers.

Regional Insights

North America dominated the market for jerky snacks in 2019 and accounted for 50.0% of the revenue share. As reported by the Simmons National Consumer Survey (NHCS) and the U.S. Census, approximately 50.0% of the U.S. population, which is nearly 160 million people, eat meat snacks and beef jerky regularly In U.S., jerky is one of the most popular meat appetizers. Furthermore, majority of the adult population of U.S. eat snacks at least once in a day.  This nation has the largest market for snacks in the world.

On the other hand, in Europe, the market for jerky snacks is projected to expand at the fastest growth rate of 9.8% from 2020 to 2027. The growth is majorly attributed to the increasing demand for healthy protein enriched snacks along with rising awareness of a healthy lifestyle. Germany, U.K., Luxembourg, and Belgium are the potential markets of the region. The key companies have been entering the market to grasp the growing demand for jerky snacks. For instance, in September 2017, Jack Link's Beef Jerky planned to open a new manufacturing facility in U.K. to increase production capacity.

Jerky Snacks Market Share Insights

The key jerky snacks manufacturers include JACK LINK'S, LLC.; Old Trapper Beef Jerky; Oberto Snacks Inc.; The Hershey Company; General Mills Inc.; Chef's Cut Real Jerky; Frito-Lay North America, Inc.; Tillamook Country Smoker; Conagra Brands, Inc., and The Meatsnacks Group. The industry is largely dominated by JACK LINK'S, LLC. However, over the years, new players have been entering the market considering the potential demand for jerky snacks. Country Archer Jerky Co., Perky Jerky, Fusion Jerky, The New Primal, and Arizona Beverage Company are the emerging players of the jerky snacks industry.

The players of this industry have been launching jerky snacks highlighting their natural, artisanal, and premium origins. In March 2016, JACK LINK'S, LLC. acquired Grass Run Farm, a supplier of grass-fed beef, for its new brand Lorissa's Kitchen. This will appeal to the health-conscious and young consumers who are seeking for healthy snacks.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Million and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, U.K., China, South Korea, Brazil, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global jerky snacks market based on product, distribution channel, and region.

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Beef

    • Pork

    • Poultry

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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