US-based Stryve Foods highlighted a number of consumer trends in the United States that will continue to drive growth in the nutritional snacks.
Stryve Foods focuses on the production of air-dried meat and meat-based snacks.
Its products are made from beef and spices, are never cooked, generally contain zero grams of sugar and are free of MSG, gluten, nitrates, nitrites and preservatives.
Referenced U.S. consumer trends include:
- Increased consumer focus on health and wellness.
- Nutritional guidance recommending greater consumption of smaller, more frequent meals throughout the day.
- Preference for convenient, “better-for-you” snacks.
- Desire to reduce carbohydrate and sugar consumption.
- Preference for snacks and other foods without additives and preservatives.
Nutritional snacks
Stryve believes its products appeal to consumers interested in an active lifestyle who are looking for high-protein, low-carbohydrate snack options, many of whom currently do not purchase meat snacks.
According to previous studies reviewed by Stryve management, the company believes that less than one-third of its target consumers, those seeking healthy snacks in the U.S., had purchased a meat snack in the previous 12 months.
Projection
While Statista forecasts the healthy snack market to exceed $150 billion by 2030, Stryve estimates that the meat snack category alone is approximately $10 billion in size today.
Stryve believes it can leverage its relationships with its retail and distributor customers to launch new products, brands and brand extensions, increase consumer recognition and continue to expand its healthy snack platform.
Stryve’s current product portfolio consists primarily of air-dried meat snacks marketed under the Stryve, Kalahari, Braaitime and Vacadillos brands.
As a result, Stryve’s products are suitable for Keto and Paleo diets. In addition, based on protein density and sugar content, Stryve believes its air-dried meat snacks are some of the healthiest and most shelf-stable snacks available today.