The global jerky snacks market will surpass an estimated value of $9.8 billion by the end of 2033, according to a report by Fact.MR. In 2023, the market stands at a valuation of $5.3 billion, which means the compounded annual growth rate of jerky from 2023 to 2033 is 6.3%.
The snacks category is at $507.2 in worldwide revenue in 2023 with expectations of a 5.1% compounded annual growth rate, equaling an expected $835.8 billion in 2033, said the report.
The increasing dietary trend of making a shift towards protein from carbohydrates will stimulate consumers to have more meat instead of chips, the report said, and a wide variety of flavors, including sweet cherry, pepper, barbecue, sriracha, pineapple, maple, teriyaki and habanero are also attracting consumers.
Steady per-capita consumption of jerky along with the falling prices of red meat will contribute to target market growth, the forecast said.
These insights are based on a report on jerky snacks market by Rockville, Maryland-based Fact.MR. The study considered products such as beef, pork, poultry and others as well as online and offline distribution channels across five major regions of the world (North America, Europe, Asia Pacific, Latin America and the Middle East).
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