The Asia-Pacific meat snacks market is anticipated to showcase a considerable CAGR of 8.3% during the forecast period. Increased demand for convenient food amongst the population in the region, increasing disposable income, along with the rising launches of innovative meat snacks are the prominent factors that are driving the growth of the regional market growth. Additionally, with the quickening pace of life, adoption of a sedentary lifestyle, and increase in the number of working women populations there has been an increased demand for the grab and go snacks across the region. Consumers in Asia- Pacific countries are becoming potentially aware of the healthy benefits of meat snacks, which is driving the market growth in the region. The significant presence of the millennial population has further escalated the demand for healthy meat snacks in the region.
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Conagra Brands Inc., Hormel Foods Corp., Jack Link's LLC, Tyson Foods, and King Elites Snacks, among others, are the major manufacturers of meat snacks. These manufacturers are adopting different growth strategies including mergers and acquisitions, new product launch, product innovation, capacity expansion, and so on to remain competitive in the marketplace. Major market players operating in this segment are extending their geographical reach in this region to expand its market share. The establishment of strategic partnerships with major raw material providers of the region to cost saving on new products is likely to drive the growth of this market in the region.
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The meat snacks market is segmented based on product type and distribution channels. Based on the product type, the meat snack market is segmented into Jerky, Sticks, Sausages, Others. Based on product type, jerky hold a considerable share in the meat snack market in 2018. Easy availability, affordability, and pleasing taste of beef jerky are the key factors contributing to the high share of jerky in the meat snack market. Based on the distribution channel, the meat snack market is segmented into convenience stores, supermarket/hypermarket, and online store.
Market Segmentation
Asia-Pacific Meat Snack Market by Product
• Jerky
• Sticks
• Sausages
• Others
Asia-Pacific Meat Snack Market by Distribution Channel
• Convenience Stores
• Supermarket/Hypermarket
• Online Store
• Others
Regional Analysis
• China
• India
• Japan
• Rest of Asia-Pacific
Company Profiles
• Associated British Food Plc
• Conagra Brands Inc.
• Hormel Foods Corp.
• Jack Link's LLC
• Kerry Group
• Kings Elite Snacks
• New World Foods Pty, Ltd.
• PepsiCo, Inc.
• The Hershey Co.
• Tyson Foods
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