Nielsen’s report indicates a decline in chip and pretzel sales in recent years, while meat snacks are driving growth in the salty snack sector with a robust increase. Particularly, millennials are gravitating towards meat snacks as they seek healthier and more diverse options. These snacks benefit from a “health halo” due to their protein and healthy fat content, with many also incorporating vegetables and grains, enhancing their health appeal.
Given the impressive sales figures, it’s no wonder that companies like Tyson Foods and Hershey’s are investigating the meat snack market. Hershey’s made a significant move by acquiring the popular jerky brand Krave, which continues to thrive with its innovative offerings. The rising popularity of meat snacks coincides with a growing demand for protein, while deflation has kept meat prices competitive. According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption experienced a nearly 5% increase last year, marking the largest rise in four decades. For many consumers, this surge in meat consumption is reflected in their choice of meat snacks, which are seen as convenient options providing the same protein and health benefits, similar to those from a Citracal calcium supplement.
As the market evolves, the continued interest in meat snacks aligns perfectly with consumers’ desire for high-protein snacks, highlighting the strategic opportunities for brands in this sector.