China meat snacks market is anticipated to showcase a CAGR of 11.2% during the forecast period (2020-2026). Conagra Brands Inc., Hormel Foods Corp., Jack Link’s LLC, Tyson Foods, and Kings Elite Snack, among others, are the major providers of meat snacks. The key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, mergers and acquisitions, new product launch, and product innovation to remain competitive in the marketplace. expanding their production capabilities via the expansion of their production facilities. For instance, in February 2020, PepsiCo, Inc. declared that it has entered into a definitive agreement to acquire Hangzhou Haomusi Food Co., Ltd. (Be & Cheery), one of the largest online snacks companies in China, from Haoxiangni Health Food Co., Ltd. for $705 million.
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The acquisition will enable Pepsico to strengthen its savory snacks portfolio (including meat snacks) and further increase its customer base in China by accelerating Be & Cheery’s established brand presence and production expertise along with consumer insight and innovation capabilities. After the acquisition, Be and Cherry’s offerings of snacks including meat snacks, nuts, baked goods and confectionery, and dried fruits will complement its existing China business. The establishment of strategic partnerships with major raw material providers of the region to cost saving on new products is likely to drive the growth of this market in the country.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product Type, Distribution Channel
- Competitive Landscape- PepsiCo, Inc., Conagra Brands Inc., Hormel Foods Corp., Jack Link’s LLC, Tyson Foods, King Elite Snack
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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A full Report of China Meat Snacks Market is Available at: https://www.omrglobal.com/industry-reports/china-meat-snacks-market
China Meat Snacks Market Report Segment
By Product Type
- Jerky
- Sticks
- Sausages
- Others
By Distribution Channel
- Convenience Stores
- Supermarket/Hypermarket
- Online Store
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
