The Asia-Pacific jerky market is on the rise, driven by a growing demand for convenient and protein-packed snacks. With a focus on bold flavors and innovative packaging, jerky producers are capturing the attention of busy consumers in the region, driving growth in the market.
The global jerky market is expected to exhibit a strong 6.04% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The global jerky market is expected to reach a valuation of 4.81 Billion in 2022, according to the MRFR report. The global jerky market is examined in detail in the report, which provides readers with a comprehensive overview of the market by profiling its historical growth drivers and extrapolating their likely impact on the market over the forecast period. The major growth drivers and restraints acting on the global jerky market are profiled in detail in the report.
The jerky market has experienced significant growth in recent years, driven by changing consumer preferences for healthier and protein-rich snacks. With a rising emphasis on fitness and wellness, jerky's low-fat, high-protein content has made it a popular choice among health-conscious individuals. Additionally, the variety of flavors and meat options available, from traditional beef and turkey to more exotic choices like venison and bison, has expanded its appeal to a broader audience. Furthermore, the convenience and long shelf life of jerky have made it a favored on-the-go snack. As the demand for convenient, protein-packed snacks continues to rise, the jerky market is poised for continued expansion and innovation.
Jerky is any kind of meat snack that is made from meat that is cured in a salt solution and then dried. This process gives jerky a unique flavor as well as texture that has proved to be wildly popular in a large number of countries across the world. This has been the major driver for the global jerky market over the historical review period. The growing popularity of jerky products is likely to be a major driver for the global jerky market over the forecast period. Manufacturers of jerky products are also making great efforts to introduce a wide range of varieties in the jerky market, which is also likely to be a key driver for the global jerky market over the forecast period.
Many manufacturers in the global jerky market have also come up with faux jerky by producing jerky from vegetarian raw material. This is likely to be a key trend in the global jerky market over the forecast period, as the number of vegetarian and vegan consumers is likely to grow over the forecast period.
Competitive Analysis:
Leading players in the global jerky market include The Blue Ox Jerky Company (Blue Ox), Jack Link’s Beef Jerky (Jack Link’s), The Hershey Company (Krave), Oberto Snacks Inc., Conagra Brands (Duke’s, Slim Jim), Country Archer Jerky Co., Devour Foods, Old Trapper, JerkyXP, Marks and Spencer, Wild Bill’s Food, Newport Jerky Company, Boston Jerky Co. LLC, The Greeneville Jerky Company, and Golden Island Jerky Company Inc. Small players are likely to play a key role in the global jerky market over the forecast period, as the small regional divisions of the market all see different players operating in them, as the distribution of the jerky market is quite fragmented.
In October 2019, Pony Express Foods, a leading small player in the jerky market in North America, announced plans to open a new store in Leola.
The same month, Sims Meat Processing announced a voluntary recall of 8-ounce jerky packages, calling the product out for not being shelf stable and possibly unsafe to eat.
Segmentation:
The global jerky market research is segmented on the basis of source, distribution channel, and region.
By source, the global jerky market is segmented into beef, pork, and poultry. The beef segment holds the largest share in the global jerky market, followed by pork. Beef jerky is widely popular in North America and Europe, which are the major markets for beef jerky. On the other hand, pork jerky is more popular in East Asian countries such as China, Japan, South Korea, and Taiwan, where is pork is more ingrained into the eating habits of the consumers.
By distribution channel, the global jerky market is segmented into store-based and non-store-based. The convenience stores segment dominates the global jerky market, though online retailing is likely to exhibit a steady growth over the forecast period.
Key Players are:
Boston Jerky Co. LLC, Conagra Brands, Country Archer Jerky Co., Devour Foods, Golden Island Jerky Company Inc., and others
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