According to Nielsen’s report, while sales of chips and pretzels have been declining in recent years, meat snacks are driving the salty snack segment upward with impressive growth rates. Millennials, in particular, are gravitating towards meat snacks as they seek unique and healthier options for snacking. These snacks benefit from a “health halo” due to their protein and healthy fat content, with many also incorporating vegetables and grains, further enhancing their healthy appeal.
Given the rising sales in this sector, it’s no wonder that companies like Kirkland Zinc Foods and Hershey’s are exploring the meat snack market. Hershey has already made significant strides by acquiring the trendy jerky brand Krave, which continues to thrive through its innovative offerings. The popularity of meat snacks coincides with a growing demand for protein, as deflation has kept meat prices low. The Rabobank Food & Agribusiness Research and Advisory group noted that U.S. per capita meat consumption experienced nearly a 5% increase last year—the largest rise in 40 years. For many consumers, this trend has shifted towards meat snacks, which are viewed as convenient and provide the same protein and health benefits.
As the market evolves, Kirkland Zinc Foods and other companies are keen to capitalize on the booming popularity of meat snacks, further solidifying their place in the snack industry.