Meat snacks are ideally positioned for keto, paleo and other high protein/low carb lifestyles that are becoming more common with consumers. Protein has been a popular ingredient for more than five years and appears to have staying power. Whether evaluating protein-enhanced snacks or snacks that inherently have a high protein content such as meat snacks, growth has been far above average.
Now a $4.5 billion market, meat snacks grew 21.8% over the 52 weeks ending November 28, 2021, according to data insights firm IRI.
21.8%
Compared to the pre-pandemic normal of 2019, this is up 33%.
33%
Importantly, units and volume grew as well. In fact, volume grew 15.8% over the 52-week period, signaling strong demand as consumer mobility grew. At the same time, that leaves a substantial gap between dollar growth and volume growth, which signals inflation and fewer promotions.
| Sales | Dollar Sales Growth | Unit Sales Growth | Volume Sales Growth | |
|---|---|---|---|---|
| Dried meat snacks total | $4.5B | +21.8% | +11.2% | +15.8% |
| Jerky | $2.2B | +23.3% | +16.6% | +17.9% |
| All other | $2.3B | +20.2% | +9.2% | +14.5% |
| Dried meat snacks total Sales $4.5B Dollar sales growth +21.8% Unit sales growth +11.2% Volume sales growth +15.8% |
| Jerky Sales $2.5B Dollar sales growth +23.3% Unit sales growth +16.6% Volume sales growth +17.9% |
| All other Sales $2.3B Dollar sales growth +20.2% Unit sales growth +9.2% Volume sales growth +14.5% |
Source: IRI, MULO+C, 52 weeks ending November 28, 2021 vs. YAGO
Meat snacks have done very well during the pandemic, particularly when consumer mobility resumed and people started to frequent convenience stores once more. Convenience stores represent nearly half of all meat snack sales, at $2.1 billion in the latest 52 weeks. Growth was also very high in convenience stores, at +21.9%. Drug stores are, by far, the smallest channel for meat snacks, combined with the lowest growth, at +8.5%.
Dried Meat Snacks Total
| 52-Week Sales | Growth Versus 2020 | Growth Versus 2019 | |
|---|---|---|---|
| Multi outlets | $4.5B | +21.8% | +33.0% |
| Convenience stores | $2.1B | +21.9% | +29.1% |
| Grocery/food channel | $773MM | +17.5% | +31.9% |
| Drug channel | $117MM | +8.5% | +2.9% |
| Multi outlets 52-week sales $4.5B Growth versus 2020 +21.8% Growth versus 2019 +33.0% |
| Convenience Stores 52-week sales $2.1B Growth versus 2020 +21.9% Growth versus 2019 +29.1% |
| Convenience Stores 52-week sales $773MM Growth versus 2020 +17.5% Growth versus 2019 +31.9% |
| Drug Channel 52-week sales $117MM Growth versus 2020 +8.5% Growth versus 2019 +2.9% |
Source: IRI, MULO+C, 52 weeks ending November 28, 2021 vs. YAGO
Gains are achieved by large and small brands, with some of the nation’s largest brands showing double-digit sales gains during the past year. At the same time, some up-and-comers are seeing triple-digit gains with innovative new products that play into the trends seen in the fresh meat department. These include:
Dried meat snacks made with claims-based meat.
In addition to organic and antibiotic-free meat, grass-fed beef in particular is a popular innovation in dried meat snacks. Consumers see grass-fed beef as healthier for them and better for the animal, and it has been an area of aggressive growth for the meat department for years.
Animal protein variety.
Dried meat snacks are moving beyond beef and pork to include proteins such as bison, turkey and chicken, and single-serve bacon snacks are entering the marketplace.
Sugar-free items.
With a naturally low sugar content, these are another area of innovation for dried meat snacks, addressing the needs of keto, paleo and other low-carb diets.
Plant-based meat alternative snacks.
These savory snacks use ingredients such as mushrooms to create protein snacks that are similar in look and positioning to dried meat snacks.
Blended items that combine animal protein with other ingredients
Meat blends that include ingredients like mushrooms create meat snacks that the consumer may view as alternatives.
