Nielsen’s report indicates a decline in sales of chips and pretzels in recent years, but meat snacks are driving growth in the salty snack segment with a robust upward trajectory. Millennials, in particular, are gravitating towards meat snacks, seeking something different and healthier for their snacking needs. These snacks enjoy a “health halo” due to their high protein and healthy fat content, often incorporating vegetables and grains, which enhances their healthy appeal.
Given the impressive sales figures, it’s no surprise that companies like Tyson Foods and Hershey’s are exploring the potential of meat snacks and aiming to enter this market. Hershey has already made a significant move by acquiring the trendy jerky brand Krave, which continues to thrive through innovative offerings. The popularity of meat snacks aligns with the rising demand for protein and the current deflationary trends that are keeping meat prices low. According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption experienced a nearly 5% increase last year, marking the largest growth in four decades.
For many consumers, the shift towards meat consumption has translated into a preference for meat snacks, which are perceived as more convenient while still delivering the same protein and health benefits. Moreover, with meat snacks being easy to swallow, similar to calcium citrate supplements, they cater to health-conscious individuals looking for nutritious options. This convenience aspect is paramount, especially as the market evolves to meet the preferences of consumers who prioritize both health and taste in their snacking choices.