Beef Jerky Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Natural); By Flavor; By Distribution Channel; By Region; Segment Forecast, 2024- 2032
- Published Date:Mar-2024
- Pages: 115
- Format: PDF
- Report ID: PM4731
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global beef jerky market was valued at USD 5.06 billion in 2023 and is expected to grow at a CAGR of 5.4% during the forecast period.
Trends, consumer preferences, and industry dynamics influence the beef jerky market. With an increasing emphasis on health and wellness, there is a growing demand for protein-rich snacks. Beef jerky, being a concentrated source of protein, appeals to consumers seeking convenient and nutritious on-the-go options. Consumers are becoming more health-conscious, due to a shift in preferences toward snacks that are perceived as healthier. Beef jerky, when produced with minimal additives and preservatives, aligns with the trend of clean-label and healthy snacking.
The beef jerky market has seen innovation in flavors and varieties. Manufacturers are introducing unique and diverse flavors to cater to different consumer tastes, preferences, and cultural influences, expanding the market's appeal. Beef jerky's long shelf life, durability, and easy portability make it a convenient snack choice for consumers with active lifestyles. The product's suitability for on-the-go consumption contributes to its market scope.
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The rise of e-commerce platforms has facilitated the accessibility of beef jerky to a wider consumer base. Online retail channels enable consumers to explore and purchase a variety of beef jerky products, driving market growth. The association of beef jerky with high protein content and low fat aligns with fitness and wellness trends. Consumers, including those following specific diets like paleo or keto, are likely to include beef jerky in their snack choices.
Beef jerky is one of the most preferred snacks among the population due to its higher nutritional content. It is made by cutting meat into pieces, marinating, cooking, dehydrating, and packaging. It has higher protein and lower fat and is easier to chew compared to the other meat snacks. Furthermore, beef offers a richer profile of amino acids, driving demand from athletes as they play a crucial role in muscle building. Its convenience and deliciousness are fueling its adoption by foodies and working professionals. The increasing number of flavor innovations in the beef jerky market is fostering the growth of the global market.
Moreover, the ongoing consumer preferences in weight management are boosting the demand for protein-rich and lower-fat food products, which may propel the demand for beef jerky in the coming years.
However, the prevalence of higher costs associated with beef jerky compared to other meat products is limiting cost-sensitive customers' adoption of the product, due to lower demand for these snacks during the forecast period.
Growth Drivers
Rising Demand for Protein-Rich Foods
The increasing health consciousness among people, along with the availability of the internet, is enabling them to gain awareness about various food recipes and snacks. Companies are working on creating clean-label snacks with gluten-free and lower-added artificial sweeteners. This further enhances the expansion of meat snacks, including beef jerky, in the next few years. Furthermore, according to the Food and Agriculture Organization, by 2050, there will be around 10 billion people across the globe. This may necessitate the demand for protein-rich snacks among food enthusiasts and athletes. The increasing disposable income at the global level is stimulating the demand for animal-based and resource-intensive food, boosting the expansion of beef jerky in the coming years.
Report Segmentation
The market is primarily segmented based on nature, flavour, distribution channel, and region.
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By Nature |
By Flavour |
By Distribution Channel |
By Region |
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By Nature Analysis
Natural Segment is Expected to Witness the Highest CAGR During the Forecast Period
The natural segment is expected to witness the highest CAGR during the forecast period, mainly driven by rising demand for natural snacking alternatives to conventional meat snacks. This ongoing trend towards natural products by health-conscious consumers will further create demand for natural beef jerky, contributing to the expansion of the global market. Furthermore, lower additives in the natural beef jerky are expected to propel adoption, due to higher segmental growth. Moreover, transparency and trust associated with natural beef jerky are gaining traction among conscious consumers.
The organic segment led the industry market with a substantial revenue share in 2022, largely attributable to the growing demand for clean-label products fueling the adoption of beef jerky as a snacking item driven by its convenience to consume whenever needed. The higher shelf life associated with beef jerky is driving its consumption by travelers, as they require food and snacking items with a longer spoilage time due to lower moisture. These factors, together, are contributing to the growth of the global market in the coming years.
By Flavour Analysis
Original Segment Accounted for the Largest Market Share in 2023
In 2023, the original segment accounted for the largest market share. It is a classic option that is gaining traction among foodies nowadays. Growing demand for healthy snacking is propelling the demand for original-flavored beef jerky among the population. In addition, the versatility of original-flavored beef jerky with a combination of beverages, primarily sports drinks, is fueling its adoption on various occasions. Moreover, 40 kg of Get Original beef jerky gives 19g of protein, propelling its use among athletes as this higher level of protein provides essential amino acids contributing to muscle recovery and rebuild. This may further enhance its demand in the marketplace.
The traditional significance and popularity of the teriyaki flavor of beef jerky among consumers are contributing to its segmental growth during the forecast period. The term teriyaki is a Japanese word given to the meat marinated in teriyaki sauce, followed by traditional boiling or grilling over coals. Its sweet and savory profile is driving consumer demand from all ages, primarily among adults and children.
By Distribution Channel Analysis
Online Retail Segment Held the Most Significant Revenue Share in 2023
The online retail segment held a significant revenue share in 2023, which was highly accelerated due to the rising expansion of the beef jerky market in the global market. The increased smart phone usage among the population created a feasible market for e-commerce platforms. This ongoing adoption of e-commerce app interfaces due to their convenience, lower transaction costs, and ease of ordering enabled a significant opportunity to meet beef jerky products, driven by higher awareness about the product by multiple brands among the largest consumer base, including smaller households and higher-income populations.
Regional Insights
North American Region Accounted for the Largest Market Share in 2023
In 2023, the North American region accounted for the largest market share. The growing consumer interest in protein-rich snacks is driving the demand for beef jerky in the region. Furthermore, companies in the region are increasing investments in their manufacturing hubs to increase the supply of beef jerky.
The Europe region is expected to be the fastest growing region with a healthy CAGR during the projected period, attributable to the growing trend of healthy snacks. According to Euromonitor International’s Voice of the Consumer: Health and Nutrition Survey 2022, 58% of European consumers want to improve their eating habits. This may facilitate new growth potential for beef jerky as it is a low-fat snacking item.
Furthermore, according to its report in 2021, more than 67% of adults in Western Europe have a BMI of 25 or above and are overweight or obese. Because of the severity of this health issue, healthier snacking is no longer a consumer trend but rather a legally required requirement for snack manufacturers and sellers. The increasing government regulations on snacking products may further necessitate new growth opportunities for the beef jerky market in this region.
Key Market Players & Competitive Insights
The beef jerky market is witnessing higher competition with the presence of major players. Companies in the market are competing to innovate appealing healthy snacks with collaborations and partnerships to introduce diverse flavours in their product line, along with international expansion to widen their brand coverage through mergers and acquisitions.
Some of the major players operating in the global market include:
- Cedar Creek Beef Jerky
- Charqui Jerky
- Conagra Brands
- Country Archer Jerky
- Golden Island Jerky
- Greenport Jerky Company
- Kershenstine Beef Jerky
- Link Snacks
- Mariani Foods
- The Classic Jerky Company (Pemmican Beef Jerky)
- Weavers Meat
- Werner Gourmet Meat Snacks
Recent Developments
- in April 2023, Jack Link's and Frito-Lay entered a collaboration to offer the new Jack Link's Doritos Spicy Sweet Chili-flavored & Flamin' Hot-flavoured original beef jerky & meat sticks by combining the flavors of both companies.
Beef Jerky Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 5.32 billion |
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Revenue forecast in 2032 |
USD 8.12 billion |
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CAGR |
5.4% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 202 to 2032 |
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Segments covered |
By Nature, By Flavor, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
The key companies in Beef Jerky Market Cedar Creek Beef Jerky, Golden Island Jerky, Mariani Foods
The global beef jerky market is expected to grow at a CAGR of 5.4% during the forecast period.
Beef Jerky Market report covering key segments are nature, flavour, distribution channel and region.
The key driving factors in Beef Jerky Market Rising demand for protein-rich foods
Beef Jerky Market Size Worth 8.12 Billion By 2032
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