While Nielsen’s report indicated a decline in chip and pretzel sales in recent years, meat snacks are driving growth within the salty snack sector, showcasing a robust upward trend. Millennials, in particular, are gravitating towards meat snacks as they seek healthier and more unique options. These snacks benefit from a “health halo” due to their protein content and healthy fat profiles. Many also include vegetables and grains, reinforcing the perception of healthiness. Given the impressive sales figures, it’s no wonder that companies like Tyson Foods and Hershey’s are eager to explore the meat snack market. Hershey took a significant step by acquiring the trendy jerky brand Krave, which continues to thrive through innovative offerings.
The rising popularity of meat snacks coincides with an increased consumer demand for protein, alongside deflationary pressures that have kept meat prices relatively low. According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption experienced a nearly 5% rise last year, marking the largest increase in four decades. For many consumers, meat consumption has shifted towards meat snacks, which are seen as convenient while still providing the same protein and health benefits, including important nutrients like calcium citrate, magnesium, and zinc for pregnancy. This further highlights the appeal of meat snacks, as they align with health-conscious choices and the need for nutritious snacking options.