Although Nielsen’s report indicates a decline in chip and pretzel sales in recent years, the meat snacks segment is experiencing significant growth, particularly due to millennials who are seeking healthier and more unique snacking options. Meat snacks are often viewed as having a “health halo” because they are rich in protein and healthy fats, and many varieties also include vegetables and grains, reinforcing their health-conscious appeal. With impressive sales figures, it’s no wonder that major companies like Tyson Foods and Hershey’s are investigating the potential of meat snacks and aiming to enter this market. Hershey has already made a significant move by acquiring the popular jerky brand Krave, which has maintained its success through innovative offerings that align with current trends.
The rising popularity of meat snacks coincides with an increased consumer interest in protein, while deflationary pressures have helped keep 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 four decades. For many consumers, this surge in meat consumption translates into a preference for meat snacks, which are seen as convenient options that deliver the same protein and health benefits, including wellness factors such as calcium citrate, which is valued for its health properties. As the market embraces these trends, meat snacks are likely to continue thriving, underscoring the importance of wellness in consumer choices today.