Snack World - May 2016 - (Page 40)

STATE OF THE INDUSTRY REPORT Flaming Hot, Protein-Packed T he meat snacks segment is another hot category. The global meat snacks market is growing due to preference for convenient, high-protein, savory snack options and increasing awareness of nutrition and wellness by consumers, according to Technavio's report on the global meat snacks market. Analysts forecast the category to grow at a compound annual growth rate of 8.79% during the period 2016-20. Protein is the main driver for choosing dried meat snacks like jerky, and consumption increased 18% among adults over the past five years, according the NPD Group's ongoing snack research. Meat snacks are perceived by many to be the best source of protein, and they are also generally low in fat. While beef is still the leading type of meat used in jerky products, turkey is becoming increasingly popular. Consumers are also developing a taste for other types of jerky such as bison, buffalo, elk and salmon. For the overall meat snacks category, dollar sales increased 5.5% earning $1.3 billion, according to IRI for the 52 weeks ending February 21, 2016. While jerky garnered more sales, the other dried meat segment grew more with 9.3% more dollar sales than a year ago. In the other dried meat category, Omaha-based ConAgra's Slim Jim meat snacks led the pack with 12.6% growth earning $240 million in dollar sales, according to the IRI data. Slim Jim jerky's dollar sales increased 21.5%. Hot and spicy, as well as chicken-based products, are big trends in the meat snacks market, according to Canadean's Product Launch Analytics database of new products. Slim Jim's Monster Meat sticks burn it up with Tabasco Seasoned and Really Freakin' Hot Habanero, and the brands' Steakhouse Strips set mouths on fire 40 Snack World May 2016 www.sfa.org with Carnage Asada. "We also saw some new products in 2015 that are meat snacks in a bar format - an emerging trend that could catch fire in 2016," said Tom Vierhile, innovation insights director, Canadean Progressive Digital Media Group. "The Wilde Slow-Baked Bar is a great example of this trend." Krave Pure Foods, a business unit of the Hershey Co., Hershey, PA, is launching a meat bar format later this summer that is all-natural, with no preservatives, and including ingredients such as ancient grains and fruit. The company boasts unique flavors like Black Cherry Barbecue Pork, Basil Citrus Turkey and Chili Lime Beef. "Protein snacking and meat snacks have broad application. We've got a pretty exciting pipeline of http://www.sfa.org

Table of Contents for the Digital Edition of Snack World - May 2016

Snack World - May 2016
Table of Contents
LETTER FROM SNAC INTERNATIONAL - SNAC International is Indispensable
NEWS - New SNAC International name recognizes evolving industry
SUPPLIER INSIGHT - Networking Is Key
2016 STATE OF THE INDUSTRY REPORT - At Front and Center Stage
Kudos to the Cast
Indulge and Excite
Maximizing Health, Innovating Style
Delivering on Innovation
Healthy Halo, Devilishly Delicous
Healthy Versatility
Flavor Innovation Going Nuts
The Cheese Alternative
Gone Gourmet
Flaming Hot, Protein-Packed
The Skinny on Popcorn
Keep it Fresh
BUSINESS MEMBER PROFILE - Innovation, New Ventures Continue
ASSOCIATE MEMBER PROFILE - Flexible to the Core
CHAIRMAN PROFILE - New Logo, New Leadership
SNAXPO - Staying Ahead of the Game
PRODUCTS & SERVICES
AD INDEX

Snack World - May 2016