Already a $2.8 billion category, the meat snack segment has seen compound annual sales growth of more than 7% over the last four years. Hershey’s has their popular Krave line of meat snacks, General Mills acquired the growing Epic Bar, while emerging brands like Mighty Bar are grabbing share too. When looking at age segments, baby boomers are the biggest meat snack buyers, spending an average of $28.48 per year, making them 10 percent more likely to buy meat snacks than the average shopper.
A lot of this growth and popularity can be attributed to the protein features of meat bars. Over 50% of consumers are seeking high-protein options and they are already familiar with meat as a great protein option. By making meat bars easy to grab-n-go, it’s become an obvious choice. What used to be seen as snacks for athletes or those on crazy meat diets, the average consumer is also getting in on the game. Due to the popularity of Paleo and high-protein diets, meat snacks are seeing spikes similar to those that were seen when the Atkins Diet was at peak popularity. The meat snacks are seen as a healthier option than candy bars or traditional potato chips with greater nutritional benefits, often even being used as a meal replacement.
While meat snacks are categorized evenly into jerky and sticks — each of which contributes about half of its total sales — it’s jerky that experienced a particularly strong year last year. Jerky has come a long way from what it used to be though and it’s definitely not the jerky you grew up with.
Some key differences of the new meat snacks that account for their growth and popularity include:
Contact your rep to add these growing snacks to your offerings.