Beef Jerky Brands Available in 1976

With substantial unmet demand among Muslim consumers for halal meat snacks, and with the emergence of halal brands such equally Halal Jerky and Sharifa Halal, should your company consider launching a dedicated halal meat snack production range?

YOUR PAIN POINTS ADDRESSED		ASK YOURSELF
Scenario: Yous are considering launching a halal meat snack production range. How attractive is the opportunity?	How lucrative could a halal meat snack brand be?	What is the overall size and growth of the global savory and meat snacks market place, and which are the leading players globally?
		What is the overall demand for halal meat snacks and who is addressing this need?
		What are some cardinal considerations for companies seeking to address this market opportunity?

HIGH GROWTH GLOBAL INDUSTRY

The global savory snacks industry has been estimated by P&Due south Market Research at $111 billion in 2014 and is expected to grow at a rate of 7 percentage annual growth to reach $167 billion in 2020, implying a $118 billion market in 2015. Growth is driven primarily by rising per capita incomes in emerging countries, and an increased preference for snacking between meals.

The largest geographical market for savory snacks is the U.Due south., bookkeeping for around 25 per centum of the global manufacture in 2015, the equivalent of $30 billion, assuming growth is in line with the world market.

BIGGEST GLOBAL PLAYERS

The largest savory snack companies are Mondelez International, with revenues of $30 billion in 2015, followed by Frito-Lay, the snacks division of PepsiCo, with revenues of $13.8 billion in 2015.

Meat snacks is a rapidly growing  sub-sector. It is estimated to grow at ten percent CAGR between 2014 and 2020, according to market researcher Technavio, and tin can be estimated at $vi billion in 2015, based on U.Due south. market place estimates of $1.5 billion in 2014 past IRI research, and bold that the U.South. has a similar share to the overall savory snacks market.

ConAgra Foods and Jack Link'south Beef, both U.S.-based companies, are the leading meat jerky manufacturers.  ConAgra Foods, a diversified food products manufacturer, generated full revenues of $xv billion in 2015. It owns the popular meat sticks and hasty brand Slim Jim. Jack Link'southward Beef'due south revenues exceeded $1.5 billion in 2015.

Photo: WINNECONNE, United states - 25 August, 2015: Assortment of Jack Link's beef products / Keith Homan / Shutterstock.com

SIGNIFICANT AND LARGELY UNTAPPED HALAL MARKET OPPORTUNITY

Despite Muslims accounting for 17 percent, or $1.1 trillion, of global spend on nutrient and beverage spend in 2014, co-ordinate to the State of the Global Islamic Economy 2015/16 report, there remains notable gaps in halal food product offering.

The next stage in the evolution of the halal nutrient industry is catering to the millennial Muslims, who have had greater exposure to mainstream nutrient brands, and are increasingly demanding more user-friendly food products to cater to their busy lifestyles. Halal meat snacks is one detail area of opportunity.

Few players are currently addressing this opportunity, but several take emerged, notably in the U.Due south. and Malaysia. British halal food company Haloodies confirmed with Salaam Gateway that it is considering launching a halal meat snacks line "very soon."

"Muslim consumers are looking for products that come across their busy lifestyles and are not like the commencement generation of Muslims [in the Britain]. This consumer base is interested in food to go ... Halal meat snacks would be an bonny category considering it is certainly much healthier than carbohydrate-based snacks," Noman Khawaja, co – founder and sales managing director of Haloodies, told Salaam Gateway.

Zohra Khaku, founder of United kingdom curated halal dining site Halal Gems also sees opportunities in the sub-sector, "I think halal meat snacks is a key growth area and as a production, would exist interesting to consume. Growing up in the Britain, you accept the brand Peperami (a pork sausage snack). You lot always want to effort it."

KEY PLAYERS IN HALAL SECTOR

Midamar Halal, based in the U.S. and founded in 1974, is a global supply concatenation management visitor offer halal food-branded products. The company provides export services globally and is bachelor online and in over 1,800 retail outlets in the U.Due south. The company offers a halal beef hasty snack production made with halal beef and flavored with pure smoke hickory.

Halal Jerky, based in the U.South. and launched in 2010, is a brand of halal beefiness hasty. Halal Jerky has a line of 12 products, which include original, BBQ, honey teriyaki, hot hickory, and sugariness and spicy flavors. The brand is available in retail outlets across the U.S. and online.

Sharifa Halal, based in the U.S. and founded in 1976, is a subsidiary of Saad Meats, which is a wholesaler and benefactor of halal meat products. The brand offers turkey and beefiness snack sticks through a number of retail outlets and third party e-commerce sites including Hashems and 6labusa.

Fajaru Marketing, based in Malaysia and founded in 2004, is a meat manufacturing company halal-certified past national certifier JAKIM. The company's local trademark, Mat Dendeng, has introduced the 'Daging Salai BBQ', which is a sweet and savory meat snack available in chicken and beef. Mat Dendeng products are available at select retail outlets in Malaysia including TESCO, Jaya Grocer, Presto at Citta Mall in Malaysia and on global e-commerce sites including DagangHalal.

CHALLENGES AND CONSIDERATIONS

While halal meat snacks are an attractive and largely unaddressed segment, there are three key considerations in launching a new brand or product line.

Undertake careful market inquiry to develop the right product

When launching a new halal brand, identify the target demographic, both past age and gender, and seek to accost their dietary and lifestyle needs, in order to develop the right product for them.

It's important to become across becoming a replica of popular non-halal products to address production feature such every bit meat type and flavor, as well as packaging.

"We've looked extensively at Kantar market enquiry data to see where the gaps in the market are … Nosotros know that diabetes is a item concern amidst key segments of the Muslim customs and in that location is a full general push button towards healthy eating ... So a chicken range could be quite popular for snacking," said Haloodies' Khawaja.

Distribution is cardinal, especially for brands with single products

Many of the existing halal meat snack players profiled in this commodity provide both online and offline marketing. Multiple channels are critical to reaching scale.

With perishable food products, offering international online distribution tin exist a detail challenge and requires careful planning.

Use the right advert channels

To reach the core market, it's important to leverage focussed online advertising platforms, such as Halal Advertizing and Muslim Ad Network. However, there are also new emerging channels to reach Muslim consumers – such as through food bloggers.

SUGGESTED ROADMAP

Get to know your customer: This will help tailor the product to their tastes and needs

Secure multiple distribution channels to achieve sufficient scale

Identify efficient ad channels: Consider Halal Advertizing and Muslim ad network, too as food bloggers

© SalaamGateway.com 2016

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Source: https://www.salaamgateway.com/story/halal-meat-snacks-the-next-high-growth-opportunity-for-food-brands