The Global Jerky Market is projected to be valued at USD 4.9 Billion by 2025, expanding at a CAGR of 6.6% between 2019 and 2025. The market has been growing by 50% since 2010. Currently, jerky is not only manufactured from different types of meat, but also from plant-based substitutes to cater to the growing demand by vegetarian and vegan consumers. Growth in the food tourism has significantly contributed to the growth of the jerky market. High competition owing to presence of large number of players in this market is forcing manufacturers to continuously focus on product innovation and development. The manufacturers have introduced products with various labels such as organic, grass-fed, and produced without antibiotics.
The global Jerky Market has witnessed high growth in the recent years owing to increasing preference for high-protein snacks. Jerky accounted the largest share of around 55% of the global meat snacks market, which valued at nearly USD 5.8 billion in 2018. Meat snacks have gained popularity due to increasing health consciousness among the consumer, product innovation, easy availability, and increasing demand for on-the-go food products.
- The Blue Ox Jerky Company (Blue Ox) (US)
- Jack Link’s Beef Jerky (Jack Link’s) (US)
- The Hershey Company (Krave) (US)
- Oberto Snacks Inc. (Oberto) (US_
- Conagra Brands (Duke’s, Slim Jim) (US)
- Country Archer Jerky Co. (US)
- Devour Foods (US)
- Old Trapper (US)
- JerkyXP (US)
- Marks and Spencer (UK)
- Wild Bill’s Food (US)
- Newport Jerky Company (US)
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Growth Opportunities in the Market
Dominance of beef jerky in the market: The beef jerky segment dominated the global jerky market in 2018 and this trend is expected to continue during the forecast period. Beef jerky has high protein content and low calories. Additionally, it is convenient to carry and has a long shelf life. Thus, it has become a practical and healthy snack for consumers. Beef jerky is also projected to be the fastest-growing segment. witnessing the growth of around 7% in last one year among all other types. Jack Link’s brand of beef jerky accounted for more than 51% share of the beef jerky market in the US.
Convenience stores to remain a popular choice to purchase jerky among consumers: Convenience stores is the most preferred choice among the consumers for buying meat snacks and jerky due to increased preference for on-the-go food and growing trend for travelling and tourism. Consumers are increasingly shopping at supermarkets and hypermarkets such as Walmart, Tesco, and Target due to their widespread network and availability of jerky in a variety of types, flavors, and brands. However, e-commerce portals are gaining popularity among consumers due to the ease of home shopping and availability of choices.
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