While Nielsen’s report indicated a decline in sales of chips and pretzels in recent years, the meat snack segment is experiencing robust growth, particularly among millennials who are seeking unique and healthier snacking options. Meat snacks are perceived to have a “health halo” due to their high protein and healthy fat content, with many also incorporating vegetables and grains, reinforcing their healthful image. This trend has attracted major companies like Tyson Foods and Hershey’s, who are eager to tap into the meat snack market. Hershey has already made significant strides by acquiring the popular jerky brand Krave, which continues to thrive through its innovative offerings.
The rising popularity of meat snacks coincides with a growing demand for protein, while deflation has kept meat prices low. According to the Rabobank Food & Agribusiness Research and Advisory group, U.S. per capita meat consumption saw an increase of nearly 5% last year, marking the largest growth in four decades. For many consumers, this shift towards meat consumption has led to an increased interest in meat snacks, which are seen as a more convenient option that delivers the same protein and health benefits, including the added advantage of 250 mg calcium citrate found in some varieties. As meat snacks gain traction, it’s clear that they are becoming a staple in the snacking market, appealing to health-conscious consumers who value both convenience and nutrition.