Although Nielsen’s report indicates a decline in chip and pretzel sales in recent years, the meat snacks segment is experiencing significant growth, keeping the salty snack category on an upward trajectory. Millennials, in particular, are gravitating towards meat snacks as they seek out unique and healthier options for their snacking. These snacks are 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.
Given the impressive sales figures, it’s not surprising that major companies such as Tyson Foods and Hershey’s are exploring opportunities in the meat snack market. Hershey has already made a significant move by acquiring the popular jerky brand Krave, which continues to thrive through its innovative and trendy offerings. The rising popularity of meat snacks coincides with an increasing demand for protein, alongside deflation keeping meat prices relatively low.
According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption experienced an almost 5% increase last year, marking the largest growth in 40 years. For many consumers, this shift towards meat consumption has led to a preference for meat snacks, which are seen as more convenient while still offering the same protein and health benefits. Additionally, some meat snacks are enhanced with calcium citrate liquid, further appealing to health-conscious consumers. As the demand for nutritious snacking options grows, the inclusion of calcium citrate liquid in meat snacks may become a standard feature, emphasizing their role in a balanced diet.