The size of the Europe meat snacks market is expected to be worth USD 2.48 billion in 2024 and grow at a CAGR of 4.69% from 2024 to 2029 to achieve USD 3.12 billion by 2029.
Meat snacks are snack foods prepared with processed meat and other ingredients. These snacks are being made with a greater emphasis on unique flavor, nutrition, and shelf life these days. The meat is processed by soaking it in a solution and drying it for a period of time. Dried meat, sticks, sausages, and other sorts of meat snacks are sold in convenience stores, supermarkets, hypermarkets, and internet retailers, among other places. Depending on the consumer's preferences, this product is often offered in many tastes.
Rapid product creation can result in an excessive number of products, giving consumers too many choices. Manufacturers must assure product positioning and inventive marketing methods to sustain the industry's competitive edge as competition intensifies. Moreover, In the industrial supply chain, where meat snacks are bulkily produced, sales channels are critical. Product demand is usually high because of the ease of access, which is the primary differentiator for producers. The rising usage of social media is projected to impact the worldwide meat snack business significantly. This situation in the meat snack business is due to a shift in consumer awareness that comes with the increased availability of meat snacks.
Europe Meat Snacks Market growth is likely to be driven by rising demand for nutritious snacks that taste familiar and are suited for everyday consumption. It's expected to help sell meat snacks as a healthier option to the current product line as consumer awareness of nutritional content grows and aggressive branding efforts by top manufacturers. In addition, the millennial generation's rising emphasis on high protein intake is a primary driving cause for increased demand. In the following days, progress in R&D operations for producing novel flavors extracted from natural substances is expected to boost demand for these items. Fluctuation raw material costs, such as beef, pig, and poultry, present a challenge to product makers who influence their customers' purchase decisions. Therefore, more outstanding promotion and marketing of new and innovative meat products on online social media platforms may be linked to consumer buying patterns in most eye-catching advertising. These unique items are packaged and presented in the most appealing manner possible to appeal to the younger generation, who are most enthusiastic about trying new things. Furthermore, with the addition of protein and omega-3s, these snacks are natural and healthy, which is expected to boost sales of meat snack items.
Additionally, sales of meat snack products are increasing due to their convenience. The growth of meat snack sales globally is linked to the convenience packing of meat snacks in little envelopes. Most individuals lead a rushed lifestyle due to their competitive job and social lives, and they favor ready-to-eat products that are very convenient. As a result, producers produce goods with the highest expected comfort to lead the worldwide meat snack market. Health and wellness are essential considerations to consider while buying food, according to a consumer psychology study.
Premiums and premium items manufactured in a safe atmosphere with the least risk for fraud or food congestion are recognized by consumers. Due to premium qualities, meat product sales are expanding in MEA, Latin America, and the Asia Pacific. Flavor and taste, and health and fitness are significant elements influencing the selling of meat snacks. The most popular tastes on the market are herbs and ethnic features. Internal studies have been done to examine global economic circumstances and other economic indicators and their current influence to forecast information on each effect on the market in the past and the future.
Primarily owing to the growing consumer awareness in food selection, the food business is expected to change in 2021. The market for these products is being attributed to a desire for sustainable, regenerative, plant-based diets and demand for foods and beverages containing immunity-boosting substances. The supply chain was interrupted by lockdowns around the world in 2020, and the restrictions will continue in 2021, providing hurdles for manufacturers in the Meat Snacks Market. In addition, intense competition, pricing concerns, and altering customer tastes will continue to put pressure on suppliers' profit margins, limiting the market's expansion during the pandemic.
In 2018, the jerky sector accounted for a larger share of the market for high-value meat snacks. There are many different forms of meat jerky available on the market, but beef jerky is the most popular, attributes for almost half of the market. Beef jerky was once marketed as an inexpensive, tasty, handy, low-quality snack mainly found in convenience stores and gas stations. However, some of its distinguishing characteristics, such as its taste and the fact that it is considerably more full than other snacks, make it gratifying and enticing to customers.
Based on meat type, poultry tends to dominate the European meat snacks market. Chickens, geese, ducks, small game, rabbits, and turkeys are examples of poultry. In most nations, poultry processing is wholly or partially mechanized. The rise of chicken production is aided by the expected economic growth in many developed and emerging countries. Companies in the industry package and distribute their products to individual clients and business venues through various distribution methods. Chicken, turkey, ducks, and other fowl make up the poultry segment.
Based on flavors, teriyaki flavor is primarily consumed by most of the population in Europe since it is a quick recipe, and teriyaki comprises of salt and sweet taste.
For 2018, the supermarkets/ hypermarkets were deemed the most dominating segment in the European meat snacks industry. Supermarket stores/ Hypermarket stores provide a wide range of meat snack options, marketing branded and private-label items. Furthermore, these stores implement numerous crucial promotional and marketing activities to produce more extensive revenue sales, such as discounts, customer loyalty programs, and seasonal specials. As a result, offline retailers make food products readily available to their target clients helps.
The demand and production for meat snacks in Europe are projected to increase since the sector is in the starting stages. Because of significant producers and new product debuts, Germany accounted for 15.5 percent of the European meat snacks industry in 2016.
From 2017 through 2025, the fastest-growing countries are expected to be the United Kingdom and Belgium, and Luxembourg, with CAGRs of 10.6% and 10.8%, respectively. The meat snacks market in the region is likely to be driven by a rising customer preference for healthy snacking options over conventional foods like sausages and poultry meat.
Major key players in the Europe meat snacks market are Jack Link’s, Conagra foods, Meat snacks Group, Hormel Foods, King Elite Snacks, Marfood USA and Tyson Foods.
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