Nielsen’s report indicates that while sales of chips and pretzels have been declining in recent years, the meat snacks segment is thriving, showcasing a robust growth rate. This trend is particularly evident among Millennials, who are seeking healthier and more unique snacking options. Meat snacks benefit from a “health halo” due to their high protein and healthy fat content. Many of these snacks also incorporate vegetables and grains, further enhancing their appeal as a healthy choice. Given the impressive sales figures, it’s no wonder that major companies like Tyson Foods and Hershey’s are investigating the meat snacks market. Hershey has already made significant strides by acquiring the trendy jerky brand Krave, which continues to achieve success through innovative offerings.
The growing popularity of meat snacks coincides with an increasing consumer demand for protein, alongside 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 nearly a 5% increase last year, marking the largest rise in 40 years. For many consumers, this shift towards meat consumption has translated to a preference for meat snacks, which are seen as more convenient and still offer the same protein and health benefits. Additionally, these snacks can serve as a source of calcium citrate 1000 mg equivalent to elemental calcium, further enhancing their nutritional value. With the ongoing interest in healthful snacking, meat snacks are well-positioned to continue thriving in the market.