The China meat snacks market is anticipated to showcase a considerable CAGR of 11.2% during the forecast period. The major cause behind the rapid development of the meat snack market in the country includes emerging new retail channels and continuous consumption upgrade. Rising per capita disposable income is one of the key factors encouraging the growth of the market. As per the World Bank, the GDP per capita of China increased from $9,977 in 2018 to $10,262 in 2019. With the growing disposable income, the consumers’ ability to spend more money on high-quality food products has dramatically increased, which results in increasing demand for different kinds of meat snacks in the country.
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PepsiCo, Inc., 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
China Meat Snacks Market by Product
• Jerky
• Sticks
• Sausages
• Others
China Meat Snacks Market by Distribution Channel
• Convenience Stores
• Supermarket/Hypermarket
• Online Store
• Others
Company Profiles
• Associated British Food Plc
• Conagra Brands, Inc.
• Hormel Foods Corp.
• Jack Link's LLC
• KINGS ELITE SNACKS
• New World Foods Pty, Ltd.
• PepsiCo, Inc.
• Tyson Foods
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