News

The global Jerky Snacks market size is expected to be worth around US$ 6.4 billion by 2027, according to a new report by Vision Research Reports.

The global Jerky Snacks market size was valued at US$ 3.8 billion in 2019 and is anticipated to grow at a CAGR of 6.6% during forecast period 2020 to 2027.

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Growth Factors

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 that are less processed, made with natural ingredients, and are available in different flavors.

The shifting trend from carbohydrate-enriched to protein-based snacks is driving the growth of the market. Jerky snacks offer high nutritional value including proteins and minerals. Such snacks become an ideal meal supplement for campers and hikers owing to light weight and long-lasting features.

Report Highlights

• In terms of distribution channel, the offline segment dominated the market and accounted for over 75.0% of the revenue share in 2019. A choice of physical verification among consumers is expected to keep the dominance of offline channels including supermarkets and convenience stores
• Europe is expected witness fastest CAGR of 9.7% from 2020 to 2027 owing to the growing demand for healthy and nutritional snacks in countries such as Germany, U.K., and Italy
• The poultry product segment is expected to foresee fastest CAGR of 7.1% from 2020 to 2027. Consumers are expected to prefer poultry or chicken jerky snacks as they take less time to marinate as compared to other red meat options
• North America dominated the jerky snacks market in 2019, accounting for more than 45.0% share of the global revenue in 2019 as large number of population consumes such products as daily snacking options in U.S.

Key Players

JACK LINK’S, LLC.; Old Trapper Beef Jerky; Oberto Snacks Inc.; Chef’s Cut Real Jerky; Frito-Lay North America, Inc.; and Conagra Brands, Inc. New product development is expected to remain a critical success factor for the industry participants.

Market Segmentation