“The segment is facing slowed-down growth prospect. To spur new growth momentum, brands are recommended to invest in organic claims for premiumisation and to highlight low fat content to advertise plant-based meat snacks. In addition, meat snack gift sets can also be launched to target multi-generation families who have strong interest in meat snacks.”
– Joy Yin, Senior Research Analyst
This report discusses the following key topics:
- Growth outlook and competitive landscape in the meat snack market.
- Noteworthy marketing activities and product innovations.
- Main consumption occasions of meat snacks.
- Consumers’ valued health factors and premium attributes of meat snacks.
- Consumers’ perception of spiciness towards leading brands’ meat snacks.
- Product development ideas and premiumisation strategy.
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Overview
- What you need to know
- Covered in this Report
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Executive Summary
- The market
- Growth momentum of the market has slowed down
- Figure 1: Retail market value and forecast of meat snacks, China, 2017-27
- Companies and brands
- A fragmented market with opportunities in lo-mei products
- Figure 2: Market share of leading companies in meat snacks market, China, 2020-22
- Product innovation towards healthiness and novel eating experience
- The consumer
- Beef jerky and chicken feet continue their attractiveness
- Figure 3: Consumption trends, 2022
- Meat snacks are ideal for sharing and relaxing
- Figure 4: Consumption occasions, 2022
- Organic meat tops in premium attributes
- Figure 5: Premium attributes, 2022
- No additives/preservatives are the most sought health factor
- Figure 6: Health factors, 2022
- Keep traditional flavours while gradually launching novel flavours to test the market
- Figure 7: Interest in flavours, 2022
- Comprehensive snack brands need to diversify spiciness in products
- Figure 8: Perception of spiciness, 2022
- What we think
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Issues and Insights
- Launch meat snack gift sets to target multi-generation families
- The facts
- The implications
- Figure 9: Gift set example that includes plant-based meat snacks, China, 2022
- Invest in organic claims to premiumise products
- The facts
- The implications
- Figure 10: Product examples of organic meat snacks, Global, 2021-23
- Highlight low content of fat to advertise plant-based meat snacks
- The facts
- The implications
- Figure 11: PepsiCo x Beyond Meat plant-based jerky, US, 2022
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Market Size and Forecast
- The growth momentum continues but has slowed down
- Figure 12: Retail market value and forecast of meat snacks, China, 2017-27
- The growth momentum continues but has slowed down
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Market Factors
- Consumers’ pursuit of both healthiness and indulgence
- Pandemic outbreaks influenced consumers’ financial confidence
- Figure 13: Future outlook towards financial status, 2022-23
- Brands keep building omnichannel retailing
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Market Share
- Market concentration continues to decline
- Figure 14: Market share of leading companies in meat snacks market, China, 2020-22
- Capital flocks to Lo-mei brands
- Market concentration continues to decline
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Marketing Activities
- Leveraging classic IPs to tap into nostalgia marketing
- Figure 15: Wang Xiao Lu x Calabash Brothers, China, 2022
- Figure 16: Peripheral product examples by Wang Xiao Lu x Calabash Brothers, China, 2022
- Crossover collaboration to offer novel eating experience
- Figure 17: Juewei x Feinuo gift set, China, 2022
- Figure 18: Wang Xiao Lu x Ambrosial snack set, China, 2022
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- Figure 19: Zhou Hei Ya x KFC product examples, China, 2022
- Leveraging classic IPs to tap into nostalgia marketing
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New Product Trends
- The continued trend of low fat and high protein
- Figure 20: Percentage of meat snack launches with selected claims, China, 2018/19-2022/23
- Figure 21: Product examples with claims of low fat and high protein, China, 2022
- Microwaveable and self-heating meat snacks
- Figure 22: Percentage of meat snack launches with the claim of ‘microwaveable’, China, 2018/19-2022/23
- Figure 23: Product examples of self-heating chicken feet, China, 2022
- Fruit and vegetable flavours are on the rise
- Figure 24: Percentage of meat snack launches with fruit and vegetable flavours, China, 2018/19-2022/23
- Figure 25: Product examples with fruit and vegetable flavours, China, 2022
- ‘Shake Shake’ with other snacks
- Figure 26: Product examples by La Me Lu Li, China, 2022
- Figure 27: Hema x Little Raccoon ‘Shake Shake’ meat snacks, China, 2022
- The continued trend of low fat and high protein
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Consumption Trends
- Beef jerky and chicken feet are the most popular
- Figure 28: Consumption trends, 2022
- High-protein meat snacks are favoured by high earners
- Figure 29: Consumption trends – ‘Eating more’, by monthly personal income, 2022
- Target multi-generation families with selected meat snack types
- Figure 30: Consumption trends – ‘Eating more’, by living situation, 2022
- Beef jerky and chicken feet are the most popular
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Consumption Occasions
- Meat snacks are ideal for social and leisure occasions
- Figure 31: Consumption occasions, 2022
- Females like casual occasions more than males
- Figure 32: Consumption occasions, by gender, 2022
-
- Figure 33: Consumption occasions – ‘Having leisure activities at home (a)’, by gender and age, 2022
- Multi-generation families are more flexible regarding consumption times
- Figure 34: Consumption occasions, by living situation, 2022
-
- Figure 35: Repertoire analysis – Consumption occasions, by living situation, 2022
- Meat snacks are ideal for social and leisure occasions
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Premium Attributes
- Organic meat is the top attribute held to define a premium meat snack
- Figure 36: Premium attributes, 2022
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- Figure 37: Premium attributes – Organic raw materials (a), by monthly personal income and education level, 2022
- Niche features appeal to multi-generation families to trade up
- Figure 38: Premium attributes, by living situation, 2022
- Highlight low content of fat to advertise plant-based meat
- Figure 39: Health factors, by premium attributes, 2022
- Organic meat is the top attribute held to define a premium meat snack
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Health Factors
- No additives/preservatives matter the most
- Figure 40: Health factors, 2022
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- Figure 41: TURF analysis of health factors, 2022
- Young consumers seek short ingredient list
- Figure 42: Health factors – Top five factors, by age, 2022
- Naturalness is favoured by high earners and multi-generation families
- Figure 43: Health factors – Top five factors, by monthly personal income, 2022
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- Figure 44: Health factors – Top five factors, by living situation, 2022
- No additives/preservatives matter the most
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Interest in Flavours
- Roasted and lo-mei are the most popular flavours
- Figure 45: Interest in flavours, 2022
- Multi-generation families are more interested in diverse flavours
- Figure 46: Interest in flavours, by living situation, 2022
- Roasted and lo-mei are the most popular flavours
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Perception of Spiciness
- Comprehensive snack brands are perceived as less spicy
- Figure 47: Perception of spiciness, 2022
- Penetration of spicy meat snacks in lower-tier cities needs to be improved
- Figure 48: Perception of spiciness – Penetration, by city tier, 2022
- Comprehensive snack brands are perceived as less spicy
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Food Personas
- Who are they?
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- Figure 49: Food personas, 2022
- Figure 50: Food personas, by generation, 2022
- Critical shoppers value naturalness and specialisation
- Figure 51: Premium attributes – Selected attributes, by personas, 2022
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- Figure 52: Interest in flavours – ‘Original’, by personas, 2022
- Emotional eaters seek zero additives/preservatives
- Figure 53: Health factors – Top five factors, by personas, 2022
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Appendix – Market Size and Forecast
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- Figure 54: Total retail market value of meat snacks, China, 2017-27
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Appendix – Methodology and Abbreviations
- Methodology
- Abbreviations
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