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Meat snacks market gains with protein claims, Innova

Zoom in font  Zoom out font Published: 2015-08-20  Views: 79
Core Tip: Recent rapidly growing interest in protein content has been of particular benefit to the meat snacks market. Many products naturally high in protein are increasingly using high-in-protein or source-of-protein claims.
Recent rapidly growing interest in protein content has been of particular benefit to the meat snacks market. Many products naturally high in protein are increasingly using high-in-protein or source-of-protein claims. According to Innova Market Insights data, nearly 15% of global meat snacks launches in the 52 weeks to the end of April 2015 used protein claims, rising to over 50% in the USA.

“Even prior to the emergence of this enhanced interest in protein, the meat snacks market was showing good growth globally,” according to Lu Ann Williams, Director of Innovation at Innova Market Insights. “Reflecting the rising demand for more substantial snacks suitable for eating on the go.”

Geographic spread

With a few exceptions, including the USA and South Africa, the market remains relatively undeveloped. Launch numbers remain small in terms of snacks introductions as a whole, with just 5.5% of the global total in the 52 weeks to the end of March 2015. Total numbers have risen consistently in recent years, however, reflecting ongoing segmentation in more established markets, such as the USA, as well as greater penetration in non-traditional markets, particularly some of those in Europe.

Asia dominated activity with over 60% of introductions, mainly as a result of the large number of traditional-style meat snacks being launched in China. North America, primarily the USA, took second place ahead of Europe, where despite the large number of countries and cuisines involved, the relatively underdeveloped status of the market meant that activity levels were more limited.

Fourth largest in US snacks category

Meat snacks are the fourth largest savoury snacks category in the USA after potato chips, tortilla chips and nuts/trail mixes. The market is dominated by jerky-style products and, despite being relatively mature, has shown good growth in recent years. Manufacturers have updated their product ranges to focus on a healthier image, more convenient packaging formats and a greater choice of increasingly complex flavour options, particularly hot and spicy variants, often with an ethnic twist. There has also been ongoing interest in extending the use of different types of meat beyond the traditional beef and turkey, with launches including chicken and bacon products.

While the USA market is well-established and mature, the European market is much smaller, less developed and dominated by salami-style products rather than jerky. It saw a highly significant development in 2014, however, with the divestment of Unilever’s market-leading Peperami and BiFi European meat snacks businesses to USA market leader Jack Link’s. The addition of Unilever’s business incorporating two iconic brands was a huge leap forward, instantly taking Jack Links to leadership of the market and giving it a strong portfolio across both jerky and salami snacks.

Opportunities for growth outside USA

With the underdeveloped status of the meat snacks market outside the USA there are clearly further opportunities for growth, particularly if the image of the products can be delivered as tasty, healthy, substantial and convenient snacks for all occasions, boosted by ongoing product and promotional initiatives. “Recent acquisition activity, both in the USA and in Europe shows that the industry definitely thinks it is a market with still more potential to come,” Williams concludes.
 
 
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