The global jerky snacks market is currently valued at US$ 715 million in 2023. According to a recent study by Fact.MR, the global demand for jerky snacks is expected to reach a market valuation of US$ 1.3 billion by 2033, with a projected compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2033.
Jerky snacks are gaining widespread popularity worldwide, primarily due to their high protein content. In recent years, consumers, particularly in Europe and North America, have been shifting their preferences from carbohydrate-rich snacks to more nutritious options. They are increasingly favoring packaged foods with minimal processing.
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Key Insights from the Market Study:
- Sales of jerky snacks in Germany are forecasted to grow at a CAGR of 4% during the period from 2023 to 2033.
- The global jerky snacks market is estimated to experience a CAGR of 6.3% through 2033.
- The market is currently valued at US$ 5.3 billion in 2023.
- The global industry is projected to reach US$ 9.8 billion by the end of 2033.
- Demand for jerky snacks in Canada is expected to evolve at a CAGR of 5.7%.
Consumers are increasingly seeking products that provide detailed information on the packaging. Clean labels, which emphasize minimal processing, non-GMO ingredients, no antibiotics, gluten-free, absence of artificial additives, and low sodium content, are current trends in the industry. As a result, the rising demand for jerky snacks as a healthy snacking option has attracted both small and large companies to enter the market.
Snacking has gained popularity among global consumers, surpassing traditional sit-down meals. The dietary shift towards protein over carbohydrates is expected to encourage consumers to opt for meat-based snacks over chips. Additionally, a wide range of flavors, including sweet cherry, pepper, barbecue, sriracha, pineapple, maple, teriyaki, and habanero, are appealing to consumers.
The taste of jerky snacks and their convenient packaging, available in various flavors, are driving their demand. Moreover, the affordability of jerky snacks is likely to lead to increased consumption in the coming years. Steady per capita consumption of jerky, coupled with falling red meat prices, is also expected to contribute to the growth of the target market.
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 :
· By Distribution Channel :
· By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global jerky snacks market for the period of 2023 to 2033.
The study divulges essential insights into the market on the basis of product (beef, pork, poultry, others) and distribution channel (offline, online), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Jerky Snacks Market Report
- What is the projected value of the Slim Jerky Snacks market in 2023?
- At what rate will the global Beef Jerky Snacks market grow until 2033?
- Which are the factors hampering the growth of the Jerky Snacks Food Industry?
- Which region is expected to lead in the global Jerky Snacks market during 2023 to 2033?
- Which are the factors driving the Jerky Snacks market during the forecast period?
- What is the expected market value of the Jerky Snacks market during the forecast period?
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