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 2024 to USD 7.69 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.04% during the forecast period (2024 - 2030). The consumption of Jerky products is way healthier due to the processed version of the meat produced as compared to the other meat products regarding Jerky is the key market driver enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
Additionally, there is a falling price of red meat and a steady per capita consumption of jerky which surged with the growth of the jerky market. The industry is also witnessing how consumers change their tastes and preferences when it comes to natural and cleanly labeled Jerky products. Hence these are some of the few factors which can prove to be a major contributor to the jerky market.
The Jerky market segmentation, based on Source, includes Beef, Pork, and Poultry. The beef segment dominated the market for jerky snacks with more than 50.0% of the total revenue in 2019. These products are high in protein, minerals, and vitamins. U.S. consumers prefer beef the most among red meats. Traditionally, beef jerky was sold as an affordable, convenient, flavorsome snack and was primarily available at gas stations and convenience stores. Over the past few years, the demand for grass-fed beef has been emerging among consumers. Beef products account for more than half of the revenue share of Jack Link's Beef Jerky, the dominant player in the market for jerky snacks.
Based on distribution channels, the Jerky market segmentation includes store-based and non-store-based. The non-store-based distribution channel held the largest share of the jerky snacks market in 2019 and accounted for over 75.0% of the total revenue share. Supermarkets, hypermarkets, and convenience stores are still highly preferred by regular grocery shoppers. A large number of consumers across the globe buy food and beverages from traditional grocery stores or supermarkets. However, the online distribution channel is anticipated to expand at the fastest CAGR of 7.1% from 2020 to 2030. The growth is attributed to the expansion of the e-commerce industry and the high penetration of smartphones across the globe. As a result, small and middle-sized manufacturers are strengthening their distribution channels by introducing their online platforms. Online distribution channel has widened the opportunity for manufacturers, especially for small players. Through online platforms, companies can target better millennial consumers, one of the largest population groups. Amazon, Dickson's Farmstand, EPIC, People's Choice Beef Jerky, and Jerky.com are the prominent online retailers in the industry.
Figure 2: Jerky Market, by Distribution Channels, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the market for jerky snacks in 2020 and accounted for 52.0% of the revenue share. As reported by the Simmons National Consumer Survey (NHCS) and the U.S. Census, approximately 50.0% of the U.S. population, which is nearly 160 Billion people, eat meat snacks and beef jerky regularly In U.S., jerky is one of the most popular meat appetizers. Furthermore, the majority of the adult population in the U.S. eat snacks at least once a day. This nation has the largest market for snacks in the world.
Figure 3: JERKY MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
in Europe, the market for jerky snacks is projected to expand at the fastest growth rate of 10.1% from 2020 to 2030. The growth is majorly attributed to the increasing demand for healthy protein-enriched snacks along with rising awareness of a healthy lifestyle. Germany, the U.K., Luxembourg, and Belgium are the potential markets of the region. Key companies have been entering the market to grasp the growing demand for jerky snacks. For instance, in September 2017, Jack Link's Beef Jerky planned to open a new manufacturing facility in the U.K. to increase production capacity.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Jerky market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Jerky industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Jerky. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Jerky industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Jerky industry to benefit customers and expand the market sector. The Jerky market has recently given medicine some of the most important advantages. Major hair care product market players, including Boston Jerky Co. LLC, Conagra Brands, Country Archer Jerky Co., Devour Foods, Golden Island Jerky Company Inc., and others, are attempting to increase market demand by funding R&D initiatives.
The Classic Jerky Company is a leading supplier of privately branded and nationally branded high protein products. Supplying the U.S. both private branded protein products and is the owner of Pemmican Brand Beef Jerky, one of the oldest and top-selling national beef jerky brands in the United States. We lead the meat snacks industry by providing quality products including organic beef jerky and pride ourselves on providing only the best to our customers.
Also, Country Archer Provisions is on a mission to craft real food to craft a better world through real ingredients, sustainability, and transparency. The number one jerky brand in the natural and specialty channels and a leading producer of delicious real-ingredient jerky and meat sticks, Country Archer crafts all its meat snacks with high-quality, premium, and clean ingredients. Made for outdoor adventurers, busy parents, athletes, and all the humble hustlers who want more from their food, Country Archer pushes the envelope with innovative and mouth-watering flavors, high protein content, and responsibly sourced, real ingredients. The brand supports sustainable farming practices, including sourcing its protein from grass-fed and -finished pasture-raise cattle that are never confined to feed lots. Each meat snack is crafted with gourmet cuts of USDA-inspected 100 percent grass-fed and -finished beef, tender antibiotic-free turkey, and pork.
Jerky Industry Developments
In September 2021, a jerky products firm Jack Link’s Beef Jerkhad, launched its campaign for a manufacturing facility in the UK. This was majorly done for the expansion of production capacity which would further help open up new strategies that would help create new opportunities for the snacks and Jerky Market. Apart from this, some majorly noted key players in the market were Frito-Lay North America and Conagra Brand.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 4.45 Billion |
| Market Size 2024 | USD 4.81 Billion |
| Market Size 2030 | USD 7.69 Billion |
| Compound Annual Growth Rate (CAGR) | 6.04% (2024-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Source, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Boston Jerky Co. LLC, Conagra Brands, Country Archer Jerky Co., Devour Foods, Golden Island Jerky Company Inc., Jack Link's Beef Jerky, Newport Jerky Company, Oberto Snacks Inc., The Blue Ox Jerky Company, The Hershey Company |
| Key Market Opportunities | The opportunities include minimum efforts to prepare which makes it on to go product |
| Key Market Dynamics | Taste Of Jerky Products with Different Flavors |
Frequently Asked Questions (FAQ) :
The Jerky market size was valued at USD 4.45 Billion in 2021.
The market is projected to grow at a CAGR of 6.04% during the forecast period, 2024-2030.
North America had the largest share of the Jerky market.
The key players in the market are Boston Jerky Co. LLC, Conagra Brands, Country Archer Jerky Co., Devour Foods, Golden Island Jerky Company Inc., Jack Link's Beef Jerky, Newport Jerky Company, Oberto Snacks Inc., The Blue Ox Jerky Company, The Hershey Company.
The beef category dominated the market in 2021.
The non-store base had the largest share in the market for Jerky.
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