The European meat snacks market size is expected to reach USD 4.59 billion by 2025, expanding at a CAGR of 10.1%, according to a new report by Grand View Research, Inc. The rising demand for healthier protein snacks coupled with growing awareness regarding healthy lifestyles is expected to drive market growth.
The demand for meat snacks in Europe is expected to increase rapidly as the market is still in its nascent stage. The introduction of Jack Link’s jerky product has transformed the market landscape in this region. The growing demand for jerky has garnered the attention of major snack manufacturers in this region. The launch of different product forms, such as handmade sausage crisps, is expected to have a positive impact on market demand.
Supermarkets and hypermarkets are the preferred method of distribution for manufacturers. on account of bulk buying advantage. Rapid growth of e-commerce portals with home delivery services is expected to overshadow the current distribution dynamics, thus restricting growth of supermarkets and hypermarkets.
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Further key findings from the report suggest:
- Germany accounted for 15.5% of the European meat snacks market in 2016 owing to the presence of major manufacturers and new product introductions.
- The UK and Belgium & Luxembourg are projected to be the fastest growing countries, registering a CAGR of 10.6% and 10.8% respectively from 2017 to 2025. Rising consumer preference towards healthier snacking options over traditional food, such as sausages and poultry meat is expected to drive meat snacks market in the region.
- led poultry meat demand is expected to witness below average growth rate, registering a CAGR of 9.6% from 2017 to 2025 on account of increased demand for other product categories.
- Restaurants are expected to be a preferred distribution channel with a fastest CAGR of 10.9% from 2017 to 2025. This growth is attributed to manufacturers, who are tailoring products as per consumer taste and preference and investing highly in this distribution channel.
- The industry is expected to witness consolidation in the future owing to growing merger and acquisition activities with an aim to gain dominance in the product category or establish control over the distribution channels.
- In September 2016, Bell acquired Geiser AG, a company specializing in deliveries to the food service sector. The acquisition was carried out to establish the former’s influence on the restaurant distribution channel
