PORTLAND, Oregon, Feb. 19, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Meat Snacks Market by Product Type (Jerky, Sticks, Bars and Others), Nature (Organic and Conventional), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global meat snacks market generated $7.4 billion in 2018, and is estimated to reach $11.3 billion by 2026, growing at a CAGR of 5.5% from 2019 to 2026.
Prime determinants of growth
Rise in demand for convenience food, developing retail structure, surge in preference for salty snacks, and trend of innovation drive the global meat snacks market. However, high manufacturing cost hinders the market growth. On the other hand, advent of social media marketing and the trend of premiumization provide new opportunities in the industry.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6312
The jerky segment to retain its leadership position during the forecast period
Based on product type, the jerky segment contributed to more than two-fifths of the total share of the global meat snacks market in 2018, and is expected to retain its leadership position during the forecast period. This is attributed to its popularity in dominant regions such as North America and availability at affordable rates. However, the bars segment is expected to grow at the highest CAGR of 6.8% from 2019 to 2026. This is due to convenience offered by these products along with their unique taste.
The conventional segment to maintain its lead status in terms of revenue by 2026
Based on nature, the conventional segment contributed to the largest market share of the global meat snacks market, contributing to more than four-fifths of the total share in 2018, and is expected to maintain its lead status in terms of revenue by 2026. This is attributed to an ease in availability and affordable prices. However, the organic segment is expected to register the fastest CAGR of 6.8% from 2019 to 2026, owing to rise in demand for various types of organic food products.
North America to maintain its dominance during the forecast period
Based on region, North America accounted for the largest market share in terms of revenue, accounting for nearly two-fifths of the global meat snacks market in 2018, and is expected to maintain its dominance during the forecast period. This is due to surge in rate of snack food consumption, rise in demand for convenience food products, and expansion of number of domestic and international manufacturers in the region. On the other hand, Asia-Pacific is expected to witness the highest CAGR of 6.6% from 2019 to 2026. This is attributed to rise in demand for convenience food products along with surge in number of millennial populations.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6312
Leading market players
- Associated British Foods plc.
- Conagra Brands Inc.
- General Mills Inc.
- Golden Valley Natural
- Hormel Foods Corporation
- Jack Links
- Monogram Food Solutions, LLC.
- Meatsnacks Group
- Nestle S.A.
- Tyson Foods
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): 800-792-5285, 503-894-6022, 503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
SOURCE Allied Market Research