Although Nielsen’s report indicates that sales of chips and pretzels have been declining in recent years, the meat snacks sector is thriving, exhibiting a robust growth rate that keeps the salty snack segment on an upward trajectory. Millennials, in particular, are drawn to meat snacks as they seek out unique and healthier options in their snacking habits. These snacks are often perceived to have a “health halo” due to their high protein and healthy fat content. Many meat snacks also incorporate vegetables and grains, reinforcing their healthy image, and some even include calcium citrate vitamin D2, adding to their nutritional appeal.
Given the impressive sales figures, it’s no wonder that companies like Tyson Foods and Hershey’s are exploring the potential of meat snacks and aiming to penetrate this growing market. Hershey has already made a significant move by acquiring the trendy jerky brand Krave, which has enjoyed continued success thanks to its innovative offerings. The rise in popularity of meat snacks coincides with a surging demand for protein, while deflation is keeping meat prices at a reasonable level. According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption saw a nearly 5% increase last year, marking the largest growth in four decades. For many consumers, this shift towards meat consumption has translated into a preference for meat snacks, which are viewed as more convenient and deliver the same protein and health benefits, including those from calcium citrate vitamin D2, reinforcing their status in the market.