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Los Angeles, CA -- (SBWIRE) -- 04/19/2019 -- The demand for meat snacks is expected to remain steady through 2018 to 2025 as meat is the best source of protein. The global meat snacks market was valued at US$11400 mn in 2018 and the continuous growth indicates that the market will reach US$13800 mn by 2025 with a sluggish CAGR of 2.8%.
The research team at QY Research has published a comprehensive assessment of the global market in its latest publication, titled "Global Meat Snacks Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application."
Global Meat Snacks Market Report: Drivers
Urbanization and the changing lifestyles have had a powerful impact on global meat snacks market, becoming primary drivers of the market. The market's growth is also being determined by the rise in population of working women as it has led to a high demand for readymade and packaged food. The popularity of convenience food and beverages is resulting in higher demand for meat snacks. These aspects have curved the path for the accumulative growth in global meat snacks market.
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Global Meat Snacks Market Report: Segment Analysis
The global meat snacks market is segmented by type and application. In terms of type, the market is segmented into sticks, jerkies, steaks, and other. In terms of application, the market is segmented as convenience stores, independent retailers, specialist retailers, and online retailers.
Global Meat Snacks Market Report: Regional Analysis
On the basis of region, the global meat snacks market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Though the market is witnessing a rise in demand across the globe, North America and Europe have the highest growth rate as a result of peculiar food habits in these regions. Asia Pacific is also one of the fastest-growing regions because due to the rapid urbanization and hectic lifestyles.
Global Meat Snacks Market Report: The Key Players
On the basis of region, the global meat snacks market is segmented into Hormel Foods, Conagra Brands, Link Snacks, Tyson Foods, The Meatsnacks Group, Kings Elite Snacks, and Nestle USA. These companies are trying their best to bring something unique and more advanced processed meat snacks.
For instance, the beef and pork subsidiary of Tyson Foods, the Tyson Fresh Meats, is collaborating with IdentiGEN to use DNA technology to trace beef back to the individual animal of origin. The DNA TraceBack system will be a key tool to trace the cattle raised for Tyson's to offer more clarity to the consumers. The DNA TraceBack process will assure customers that the Open Prairie beef products they buy were sourced from farms where the cattle were raised with no antibiotics ever and no added hormones or such harming process. These sort of advanced initiatives will prove the reason why a company is being a global leader in meat snacks market.
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