Meat Jerky Production in the US - Industry Market Research Report

Jerked around: Falling red meat prices will likely drive down the price of jerky and stifle growth

Meat jerky products have proven to be resilient over the five years to 2023 in spite of economy-wide pressures through the COVID-19 pandemic. By focusing on e-commerce channels and retail partnerships, jerky producers enjoyed revenue growth in 2020. Spiking meat prices have pushed the price of jerky products upward, boosting revenue. Still, consumers contended with falling disposable income in 2022 which forced them to reduce discretionary spending. This pressured jerky producers to keep prices low and forced them to absorb rising input costs, cutting profit. Overall, industry-wide revenue has been growing at a CAGR of 1.1% over the past five years and is expected to total $937.5 million in 2023, when revenue will climb an estimated 1.7%. This industry includes establishments that cut, pack and box meat jerky from purchased meats. Meat jerky includes meat that has been cut into long slices or strips and dried, seasoned or otherwise cured. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.