February 5, 2015
Hershey moves beyond candy, chocolate and other confections and buys Krave Jerky, dipping into the healthy-minded snacks market.
The market for jerky has ballooned into a nearly $1.5 billion industry in the US. Sales are up by 13% since 2013, and by 46% since 2009, according to data from market research firm IRI (source: Washington Post). Industry analysts like NPD Group have reported consumers’ rising interest in food high in protein—fueling the growing appetite for jerky.
Krave launched in 2009 when founder Jon Sebastiani, a runner, looked to jerky as a convenient portable protein to add to his training regimen. Exasperated by the dearth of flavorful and healthy choices, and recognizing an opportunity in a category where there had been no innovation for decades, Jon launched what has become the disruptor brand.
Hatch has partnered with Krave from nearly the beginning as their brand and marketing agency. We created an entirely new approach to jerky packaging, crafted a personality-packed brand voice and an engaging brand experience that has drawn consumers in to a new taste sensation.
“Hatch has delivered an entirely unique look in the category, resulting in immediate adoption at retail—and has propelled our brand towards realizing our goals,” Jon says.
– After 2 years, Krave could be found in 25,000 grocery stores, speciality retailers, on Virgin flights and in hotel mini bars
– After 4 years, Krave’s business grew over 300% and the US meat snacks category grew over 11%
– In 2014, USA Today called jerky “the new ‘it’ snack” and Whole Foods asked Krave to create an exclusive line of premium flavors and packaging to match
– In 2015, Hershey announces its acquisition of Krave
We’re fortunate to be part of Krave’s success and continue to enjoy a fun and always tasty collaboration.
Want more? Read the Krave case study.