The global jerky snacks market was valued at USD 7.7 billion in 2021 and is expected to expand at a CAGR of 6.2% from 2022 to 2029. The growing demand for healthy snacks is a key factor driving the market growth. The rising health consciousness among consumers has led to a shift in their preference for healthy snacking options such as jerky snacks. In addition, the increasing availability of jerky snacks in supermarkets, convenience stores, and online stores is also driving the market growth.

Manufacturers are introducing innovative flavors and products to cater to the changing consumer preferences. For instance, in April 2021, Jack Link’s launched a new line of premium jerky snacks that are high in protein and low in sugar. The products are available in four flavors, including sweet chili, teriyaki, Thai-style peanut, and Korean-style BBQ. Furthermore, the growing trend of snacking has led to the introduction of new flavors and ingredients. For instance, in January 2021, Perky Jerky launched a new range of jerky snacks, containing a unique blend of flavors such as garlic, sweet onion, and teriyaki.

In addition, the growing demand for vegan snacks is further propelling the market growth. Manufacturers are introducing vegan jerky snacks to capitalize on this trend. For instance, in December 2021, Primal Spirit Foods launched vegan jerky snacks, which are made from mushrooms, soy, and pea protein. The product is available in six flavors, including original, teriyaki, hot & spicy, mesquite lime, hickory smoked, and sweet & smoky. Moreover, the rising popularity of subscription services for snacks is further contributing to the market growth.

Furthermore, the growing popularity of jerky snacks among athletes and bodybuilders is also driving the market growth. The rising awareness regarding the benefits of jerky snacks, such as high protein content, low fat, and low sodium content, is driving the demand for these products among athletes and bodybuilders. In addition, manufacturers are offering customized products for athletes and bodybuilders. For instance, in April 2021, Field Trip launched protein-packed jerky snacks specifically designed for athletes and bodybuilders.

The increasing demand for packaged foods, especially among the working population, is further driving the market growth. Manufacturers are introducing on-the-go snacking options to cater to the needs of the working population. For instance, in December 2021, Country Archer launched a range of meat-based, on-the-go snack packs, which are available in flavors such as teriyaki, original, and hot & spicy. The growing prevalence of retail formats such as supermarkets and convenience stores is also driving the market growth.

The beef segment held the largest market share in 2020. Increasing health and wellness awareness among the population is driving the demand for beef jerky snacks globally. According to an article published by the BBC, in December 2020, nearly half of UK adults are trying to cut down on their meat consumption, leading to the increasing popularity of beef jerky snacks. Furthermore, the increasing availability of these products in supermarkets and other retail stores and the introduction of new flavors are driving the demand for beef jerky snacks.

The turkey segment is anticipated to expand at the fastest CAGR of 8.2% over the forecast period. Growing trends of snacking and increasing demand for low-fat and healthy snacks are some of the key factors driving the growth of the turkey jerky snacks market. Additionally, the rising popularity of poultry-based food items among consumers, especially among health-conscious individuals, is also propelling the market growth.

The supermarkets and hypermarkets segment is expected to hold the largest market share of over 41.3% by 2022. Supermarkets and hypermarkets provide a wide range of jerky snacks products and thereby attract a large number of consumers. Additionally, customers are more likely to get attracted towards these stores due to the availability of several brands under one roof. Moreover, these stores offer discounts and loyalty programs, as well as convenience of shopping, thus driving the segment growth.

The online segment is expected to be the fastest-growing segment during the forecast period. The growth of the segment can be attributed to the increasing availability of jerky snacks products on various e-commerce websites. Moreover, the trend of online shopping is increasing due to the convenience and the availability of wide variety of products. In addition, companies are launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in April 2021, Jack Link’s launched its online store, which offers a wide range of jerky snacks and other meat snacks.

The meat-based segment is projected to dominate the market throughout the forecast period. The growing demand for high-protein snacks is driving the growth of the meat-based segment. Jerky snacks are packed with proteins, minerals, vitamins, and healthy fats, which makes them an ideal snack for people looking for a healthier alternative to regular snacks. Furthermore, the increasing demand for organic and natural ingredients is propelling the growth of the segment.

The vegetarian segment is anticipated to expand at the highest CAGR over the forecast period. The rising demand for vegetarian jerky snacks in response to the increasing awareness about the ill-effects of red meat is driving the growth of this segment. Furthermore, the growing health consciousness among consumers and the increasing demand for plant-based proteins is further fueling the growth of the segment. Companies such as Beyond Meat, Impossible Foods, and Lightlife Foods are offering a wide range of vegetarian jerky snacks.

The Asia Pacific region is expected to remain the largest market, accounting for a revenue share of over 37.9% in 2023. This can be attributed to the increasing demand for jerky snacks among the millennial population in the region. Moreover, increased interest in the health benefits of consuming jerky snacks is also driving the growth of the market. For instance, in February 2021, the China-based jerky snacks brand, 生肉干, launched its range of jerky snacks with a unique flavor to target the millennial population.

North America is expected to witness significant growth in the coming years, with demand for jerky snacks increasing due to the emergence of health-conscious consumers. The availability of jerky snacks with various flavors, such as spicy, sweet, and savory, is further expected to drive the growth of the market. Moreover, the presence of prominent players, such as Jack Link’s and Krave Jerky, is expected to further fuel the growth of the market.

In this part of the jerky snacks products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the jerky snacks products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a jerky snacks products business comes from the sale of jerky snacks, as well as other related products. Here you will find a list with a description of each of them and other possible sources of profit such as subscription-based services, online sales, and wholesale sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the jerky snacks business running will be described. The list of operating expenses includes packaging and shipping, taxes, wages, materials, advertising, marketing, and utilities.

Some of the key companies operating in the jerky snacks market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Jack Link’s launched a new range of jerky snacks comprising a range of flavors such as teriyaki, smoky chipotle and hickory BBQ.

– In October 2022, Tyson Foods Inc. launched the ‘Tyson Protein’ range of jerky snacks which are made using 100% natural ingredients.

– In December 2022, Hormel Foods Corporation launched the ‘Justin’s’ range of jerky snacks with five different flavors.

Some of the prominent players in the jerky snacks market include:

– Jack Link’s
– Hormel Foods Corporation
– Tyson Foods Inc.
– Oberto Snacks Inc.
– Conagra Brands, Inc.
– Field Trip Snacks
– Krave Jerky
– Country Archer Jerky Co.
– Perky Jerky
– Landshire, Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global jerky snacks market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Beef Jerky
– Turkey Jerky
– Pork Jerky
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation in the Jerky Snacks Market?
[A]: New product innovations in the jerky snacks market are increasingly being developed to meet consumer demand for convenience, health, and sustainability. Companies in the market are introducing a variety of products with innovative flavors, ingredients, and packaging to create an enhanced snacking experience. For instance, the introduction of jerky snacks made with plant-based proteins or gluten-free ingredients is offering consumers a healthier alternative. Furthermore, the use of eco-friendly packaging is gaining traction in the market as consumers become more conscious of their environmental footprint.

[Q]: Who are the Key Players in the Jerky Snacks Market?
[A]: Key players in the jerky snacks market include Jack Link’s, Krave Jerky, Hormel Foods Corporation, Oberto Brands, and Tyson Foods, Inc.

[Q]: Which Region Offers the Largest Opportunity for Sales of Jerky Snacks?
[A]: Asia Pacific is expected to be the largest and fastest-growing market for jerky snacks, due to the growing demand for convenience food in countries such as China, India, and Japan.

[Q]: What are the factors driving the jerky snacks market?
[A]: The primary factors driving the jerky snacks market include the increasing demand for convenience food, the rise in disposable income, and the increasing popularity of health and wellness-oriented snacks. Additionally, the growing awareness of the health benefits of jerky snacks and the growing demand for plant-based proteins are expected to propel the growth of this market.