The scope of our recent study on the "Meat Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Source, Category, and Distribution Channel" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

The meat snacks market is expected to grow from US$ 12,169.01 million in 2022 to US$ 17,680.68 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028. Sticks, bites, nuggets, jerky, and sausages are a few types of meat snacks available in the market. They are usually made with chicken, beef, pork, lamb, or fish. The rising trend of snacking during free time in corporates and workplaces and surging demand for snacks meeting the protein requirements of consumers while also being flavorful drive the meat snacks market growth.

Based on category, the meat snacks market is bifurcated into plain and flavored. The flavored segment held a larger share in 2021 and is projected to register a higher CAGR during the forecast period. Manufacturers of meat snacks are launching products with innovative flavors to attract a large number of consumers. For instance, in October 2020, Foster Farms launched high-protein chicken snacks in five flavors including Chile Verde, Cajun, Korean BBQ, Parmesan Garlic, and Caribbean Jerk. Such products are expected to gain immense traction among the consumers, driving the meat snacks market growth.

The meat snacks market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America held the majority of the meat snacks market share in 2021. However, Asia Pacific is expected to register the highest CAGR during the forecast period. North America is one of the most significant regions for the meat snacks market due to the increasing adoption of snack products. Meat snacks such as jerky, sticks, strips, and patties are gaining huge traction among consumers as they are easy to consume, tasty, and rich in protein. Moreover, strong retail infrastructure in countries such as the US and Canada is driving the sales of packaged meat snacks. Furthermore, rising meat production in the US and the growing meat processing industry offer strong potential to the meat snacks market across North America.

Impact of COVID-19 Pandemic on Meat Snacks Market

The food & beverages industry is one of the key industries that faced unprecedented challenges due to the COVID-19 pandemic. Lockdown and border restrictions enacted by various countries disrupted supply chains, which adversely affected the production and distribution of various products. During the lockdown, restrictions on people's movements created panic-buying situations, which increased the sales of convenience products, including meat snacks. However, the implementation of lockdown restrictions and shutdown of manufacturing units in the later stage led to a production shortfall, which created a demand and supply gap. This factor hampered the profitability of manufacturers with lack of inventories. Further, with the pandemic-induced economic recession, the purchasing power of consumers reduced significantly in 2020, which hampered the sales of meat products in various developing and underdeveloped nations. In 2021, various governments announced relaxation in the previously imposed restrictions, which propelled the global marketplace. Manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gaps, and other repercussions. A large percentage of citizens of many countries were fully vaccinated by the end of 2021, which also had a positive impact on the global marketplace including the meat snacks market.

The report segments the meat snacks market as follows:

Based on type, the meat snacks market is segmented into jerky, meat sticks, sausages, and others. Based on source, the market is segmented into beef, chicken, pork, and others. In terms of category, the meat snacks market is bifurcated into plain and flavored. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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