Global meat snacks market size is estimated to be over USD 4,300 million in 2017 and will grow with healthy CAGR compared to that by overall snacks growth.
Though, there has been an increase in overall sales of the product, the market has been a mix of perceptions. While developed regions has reached market saturation wherein companies are competing to sustain the market share; there has been immense growth in overall demand for the product in developing regions. However, socioeconomic woes has been a major concern for industry players planning to expand their business reach. In order to assure the profitability, the leading companies are consistently launching various variants with different flavors.

Rising consumer awareness regarding nutritional ingredients is expected to drive the overall sales of the product. The industry is also characterized by mergers and acquisitions. The meat snacks sector is an attractive and growing sector with many relatively untapped markets. The acquisition of Hillshire Brands by Tyson Foods is a recent example of a strategic acquisition in the market.
To meet the changing preferences of customers, manufacturers are coming up with innovative packages that are convenient to carry and enable consumption directly from the package. Consumers are now demanding smaller pack sizes and packaging materials that are environment friendly. New modes of packaging such as stand up pouches and flat barrier bags are gaining popularity in the meat snacks market. Stand up pouches are easy to carry, can be resealed for later consumption and are available in vibrant colors and designs, whereas, flat barrier bags form the best packaging format for beef jerkies as they exhibit various other features such as oxygen absorbers and tear notches for easy opening. All these factors are increasing the potential of global meat market.

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Global meat snacks market value is dominated by Europe followed by North America. Countries such as Germany, the UK, France, Russia, and Spain has been lucrative destination for industry players. The demand in these countries is expected to grow on account of product awareness campaigns conducted and the introduction of flavored product. Belgium, Luxembourg, and the Netherlands are expected to be the major contributors to the overall demand over the forecast period. The UK market is driven by the rising new product developments. Countries such as the UK and Germany, which were originally dominated by sausages and pickled poultry meat, are now witnessing an increasing demand for jerky. Turkey is also expected to be the major markets for halal sticks, which would consequently augment the demand for this form of snack over the forecast period.

Asia Pacific, though, will register highest CAGR, will add little in terms of overall revenue opportunity. As such, aggressive expansion is still restricted to Europe and North America. In Asia Pacific, much of the demand for the product is from ASEAN (Thailand and Vietnam) followed by China and South Korea. As per the estimates, China is estimated to account for nearly 57% of total Asia Pacific share in 2017. High population demographics along with comparatively lower meat snacks prices (~20% lower compared to global prices) has actually created demand among Asia Pacific region.

Meat Snacks market industry participants are acquiring regional companies to gain access to the market along with the technology and regional flavors. Key industry participants include MeatSnacks Group, Cremonini Group, IZICO, Jack Link’s GmbH, Windau, Citterio, Kerry Group, and Bell Group.
Industry participants are adopting strategies that enable them to dominate and control the entire value chain. For instance, in the first quarter of 2017 US-based private equity firm Insignia Capital Group has acquired branded meat snacks provider Tillamook Country Smoker. Several such instances are expected to take place in the industry in near future.

What Will You Discover in the Report?
An in-depth analysis of the Meat Snacks market size across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
How the Meat Snacks market sales is expected to grow throughout the forecast period.
How geopolitical policies and technological changes will affect the Meat Snacks market in near future
Where the stakeholders should invest to generate higher profit margins
How consumers (end-users) will reflect to the Meat Snacks industry during the forecast period
Who are the Meat Snacks industry leaders and what are the key initiatives taken by them for long term growth

About Bekryl Market Analysts:
Bekryl Market Analysts is global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today's disruptive business environment. We bring together data, leader's opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.