Jerky Market Outlook

The Jerky Market Size was valued at USD 4.45 Billion in 2021. The Jerky market industry is projected to grow from USD 4.81 Billion in 2022 to USD 7.69 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.04% during the forecast period (2022 - 2030).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.

Jerky market The increasing demand for on-the-go food products that require minimum effort to prepare has been a major factor behind the growth of the jerky market. Innovation in packaging technologies, availability of jerky products with different flavors, and reasonable pricing of the products have led to significant consumption of jerky. The falling prices of red meat and the steady per capita consumption of jerky have spurred the growth of the jerky market. Besides its widespread popularity in North America and Europe, the growing popularity of jerky in East Asia is expected to boost the demand for jerky. The increasing demand for protein-rich and nutritious snacks has cascaded the demand for jerky across the globe. The jerky industry has witnessed a surge in the demand for natural and clean-label jerky products owing to the changing consumer tastes and preferences. This trend is likely to influence the jerky industry as major manufacturers are expected to expand their consumer base and launch clean-label jerky products.

Segmentation:

The global jerky market is segmented based on source, distribution channel, and region.

By source, the global Meatless Jerky market Revenue 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 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 steady growth over the forecast period.

Regional Analysis:

North America is the leading regional jerky market and is likely to exhibit steady growth over the forecast period, leading to steady dominance in the market. Europe is also a leading regional market for jerky and is likely to be a major revenue generator over the forecast period. Asia Pacific is also an important market for the global jerky market, as jerky products are widely popular in East Asia. The lack of a strong jerky market in India is also good news for players in the jerky market, as this presents them with a high volume of untapped demand.

Competitive Analysis:

Leading  Key jerky Market Players  in the global    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.

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