A recent report published by Infinium Global Research on meat snacks market provides in-depth analysis of segments and sub-segments in the global as well as regional meat snacks market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional meat snacks market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global meat snacks market. According to the report, the global meat snacks market is projected to grow at a CAGR of 9.08% over the forecast period of 2019-2025.
The food and beverage industry has witnessed a paradigm shift as the consumer tastes and preferences have changed through ages. The change in demographics and lifestyle of the consumers has brought rise to a new type of foods that suit their characteristics. The meat snacks market witnessed a significant growth in the past decade owing to the convenience of snacks. Meat snacks are one of the latest trends in the market that has shown tremendous potential. The meat snacks market is relatively new and fragmented in nature, attributing to the number of international as well as local players competing in the market. The key market players including Conagra Brands, Inc., Hormel Foods Corporation, Jack Link's, LLC. Frito-Lay, Inc. and others are focusing on developing innovative products that satisfy the requirements of the consumers.
The changing lifestyle and eating habits are the major driving factors for the meat snacks market. Rapidly growing urbanization and increasing working population especially the working women have contributed to the rise in the demand for convenience foods. This, in turn, boosts the growth of the meat snacks market. Moreover, the rise in awareness among the population regarding nutritious foods is expanding the growth of the meat snacks market. The meat snacks are high in proteins, fats, vitamins and other nutrients, which makes them a healthier option for snacks. Furthermore, the high adoption of meat ingredients for snacks preparation is supporting the growth of the meat snacks market. However, concerns regarding adverse health effects from the consumption of meat such as obesity is the major restraining factor for the growth of the meat snacks market. Nevertheless, expanding online stores and the increasing sale of foods in online stores are expected to offer favorable business opportunities for the key players in the meat snacks market.
In terms of region, North America held the highest market share, dominating the global meat snacks market. The dominance of North America market attributed to the increasing demand for convenience foods, the growing number of working women and rising health consciousness among the people in this region. The Asia-Pacific meat snacks market is anticipated to grow at the highest rate owing to the increase in the number of supermarkets and hypermarkets, increasing working-class population and the rising influence of western food habits.
The report on global meat snacks market covers segments such as type and distribution channel. On the basis of type, the sub-markets include jerkies, sticks, steaks, sausages, and other types. On the basis of the distribution channel, the sub-markets include convenience stores, hypermarkets/supermarkets, online retailers, and other distribution channels.
The report provides profiles of the companies in the market such as Conagra Brands, Inc., Hormel Foods Corporation, Jack Link's, LLC. Frito-Lay, Inc., Meatsnacks Group Ltd, V H Group, Kepak Group Limited, Tyson Foods, Inc., Winterbotham Darby & Co Ltd, Zorabian Chicken, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of meat snacks market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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