NACS 2016

Dried meat snack companies bet on meat sticks for sales boost in 2017

26-Oct-2016 - Last updated on 22-Jul-2024 at 13:05 GMT

The latest IRI data indicates all other dried meat snacks, including meat sticks, are currently worth over $1bn with a 1.90% year-on-year sales increase.

BakeryandSnacks has discovered through the recent NACS show in Atlanta, Georgia that many leading meat snack brands, including Krave Jerky and Slim Jim, are expanding meat stick portfolio next year to increase their sales.

According to requested IRI data that includes total US multi-outlet sales for the past 52 weeks, ending on Oct 2^nd, 2016, the total dried meat snacks are worth almost $3bn with Jack Links making up the biggest share of the jerky segment.

However, through BakeryandSnacks’ analysis, the $29m Oberto Jerky leads the jerky segment growth with a 378.90% year-over-year dollar sales increase, followed by Chef’s Cut Real Jerky with a 314.53% sales increase, and Old Trapper Jerky, 109.11%.

Krave Jerky, which is worth $58m, ranks the fourth largest jerky brand in the US, according to IRI. The Hershey-owned jerky company has posted a 70.69% dollar sales increase from last year, and it plans on launching its first Krave Stick line in January 2017, according to the show.

Meat sticks make up nearly 50% of the dried meat snack category sales

The Krave Stick line marks Krave’s first time to enter the meat stick segment, and the varieties include rosemary lemon turkey with white beans, spicy red pepper pork with black beans, sesame garlic beef with sweet potato. Each flavor will be available in c-stores across the US for $1.79 per bag.

Meanwhile, in all other dried meat snacks category, ConAgra Foods makes up the largest share with a $627m sales value, followed by Link Snacks that is worth $466m, and Old Wisconsin Food Products, $62m, according to IRI data.

ConAgra-owned Slim Jim is launching three turkey meat sticks next month, including the original flavor, habanero, and barbecue flavors.

CEO of Chef’s Cut Real Jerky, Bart Silvestro, told this site the primary reason for meat snack companies to produce new stick products was because meat sticks make up approximately 50% of the dried meat category.

The New York-based meat snack startup is currently worth $12m.

Launching at c-stores in the US next year, Chef’s Cut will introduce four new snack sticks, including the original smokehouse-flavored beef sticks, jalapeno cheddar-flavored pork sticks, buffalo-style chicken sticks and barbecue-flavored chicken sticks.

In addition, jerky category leader, Jack Links, will further expand its portfolio by launching AM line to target the breakfast meat snackers next year.