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(CityRegions.Com, May 10, 2018 ) The study of “Global Meat Snack Market-Analysis of Growth, Trends and Forecasts (2018-2023)” provides the market size information, In-Depth Analysis along with Competitive Insights and Segmentation.
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The global Meat Snack Market is expected to register a CAGR of 9% during 2018 to 2023 (the forecast period). Meat snacks are popular snacks, in the savory snacks category, and this market is witnessing a strong growth rate, since the past five years, mostly targeting travelers, as these snacks are a convenient option, and also, they have a high demand from the millennial generation. The introduction of new products and flavors drives the market. Manufacturers are launching new flavors, like jalapeno, teriyaki, and habanero. The increasing number of mergers and acquisitions is expected to boost the market growth, during the forecast period. The meat snack market is an attractive sector, with a large untapped market. Cost-effectiveness and convenience make meat snacks travel-friendly.
Increasing consumer preference towards meat products
North America has recorded the highest number of travelers, by road, among all the countries, worldwide. Among the travelers, about one-third are business travelers, and the rest are leisure travelers. With the availability of gas/convenience stores along the way, jerky or dried meat snacks have become popular. These are easy to grab and store. Due to the availability of these products in small packets, wastage is avoided; this strategy has caught the attention of travelers, who prefer and demand more such food items.
A majority of the consumers prefer meat snacks, as a source of high-protein content, and the low-calorie content is an added advantage for meat snacks, especially in jerky-based products. Due to the abundant availability of c-stores along the road, sales are more concentrated in this channel. Jerky holds around 50% of sales in the product category
North America to Dominate the Market
North America accounted for the major share of the market, globally, during 2016, and it is expected to record a CAGR of 7.2% between 2018 and 2023. The United States is the largest market in the North American region, due to higher consumption of meat snacks, after salty potato chips, due to its convenience. The high-protein content in the product acts as an appetite suppressor and energy booster, which drives the growth of the global meat snack market. Jerky consumption is high among the developed markets, beef jerky sales, in the United States, grew by nearly 7% in 2017.
Due to high adoption of these products, since a decade, the Asia-Pacific region is expected to grow at faster rate. New marketing strategies adopted by players, such as Jack Link’s and Slim Jim, are driving sales, by targeting millennials, with new packing models and exotic flavors in the European and Asia-Pacific region. As consumers are snacking more on-the-go, the demand for handheld protein has never been higher.
Though dried meat snacks are traditionally consumed, sales have declined, due to various reasons. However, new marketing strategies, such as the introduction of new flavors, innovative packaging, impressive offers or discounts, partnerships and franchise, have revived sales and the market is growing at a good rate.
MAJOR PLAYERS: CONAGRA, HORMEL FOODS, JACK LINK'S, KING ELITE SNACKS, MARFOOD USA, MEATSNACKS GROUP, BRIDGFORD FOODS, DUKE'S SMOKED MEATS, GOLDEN VALLEY NATURAL, KEPAK GROUP, KERRY GROUP, KLEMENTS, MARFOOD USA, MONOGRAM FOODS, NESTLE USA, OBERTO SAUSAGE, OLD WISCONSIN, WILD RIDE BEEF JERKY and WINTERBOTHAM DARBY, amongst others.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Companies Mentioned:
ConAgra, Hormel Foods, Jack Link's, King Elite Snacks, Marfood USA, Meatsnacks Group, Bridgford Foods, Duke's Smoked Meats, Golden Valley Natural, Kepak Group, Kerry Group, Klements, Marfood USA, Monogram Foods, Nestle USA, Oberto Sausage, Old Wisconsin, Wild Ride Beef Jerky, Winterbotham Darby
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Some of Major Point From TOC
1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.1 Introduction
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. MARKET OVERVIEW
3.1 Drivers
3.2 Restraints
3.3 Opportunity
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
3.5 Consumer Behavior Analysis
3.5.1 Consumer demand analysis
3.5.2 Target market identification
3.5.2.1 Purchasing power
3.5.2.2 Demographic Strengths & Weaknesses
3.5.2.3 Spending patterns
4. Market Segmentation
4.1 By Product Type
4.1.1 Jerky
4.1.2 Sticks
4.1.3 Sausages
4.1.4 Other meat Snacks
4.2 By Distributional Channel
4.2.1 Convenience Stores
4.2.2 Hyper Markets/Super Markets
4.2.3 Mass Retailers
4.2.4 Others
4.4 By Meat Type
4.4.1 Beef
4.4.2 Poultry
4.4.3 Pork
4.4.4 Others (Seafood, etc)
4.5 By Geography
4.5.1 North America
4.5.1.1 U.S.
4.5.1.2 Canada
4.5.1.3 Mexico
4.5.1.4 Others
4.5.2 Europe
4.5.2.1 U.K.
4.5.2.2 France
4.5.2.3 Germany
4.5.2.4 Russia
4.5.2.5 Italy
4.5.2.6 Others
4.5.3 Asia-Pacific
4.5.3.1 China
4.5.3.2 Japan
4.5.3.3 India
4.5.3.4 Australia
4.5.3.5 Others
4.5.4 South America
4.5.4.1 Brazil
4.5.4.2 Argentina
4.5.4.3 Others
4.5.5 Africa
4.5.5.1 South Africa
4.5.5.2 Others
Continue...
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