Bacon Market

Market Overview:

The global bacon market size reached US$ 70.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 94.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.

Bacon refers to a type of pork, usually made from the side of a pig that is cured and smoked after removing the spare ribs. It is typically consumed as a side dish, added as a flavoring agent or accent, and used in numerous foods, such as salads, sandwiches, soups, and sweets like maple bacon ice cream. It is widely available in different variants, including slabs, regular sliced, thin-sliced, thick-sliced, and ends and pieces. As a result, bacon is popularly consumed by individuals of all age groups due to its unique, smoky flavor and longer shelf life.

Bacon Market Trends:

The escalating demand for ready-to-eat (RTE) and ready-to-cook (RTC) food due to the expanding working population, hectic lifestyles, and changing dietary habits represents the primary factor driving the market growth. Besides this, the growing consumer awareness and acceptance of convenience meat products with enhanced taste, quality, and shelf life is augmenting the demand for bacon. Additionally, various foodservice outlets are offering a wide variety of bacon products to increase their menu options and attract more consumers. Along with this, the rising consumption of meat products like bacon as a part of paleo and keto diet plans among health- and fitness-conscious consumers is propelling the market growth. Furthermore, several leading players are launching innovative product variants, such as low-calorie and gluten-free bacon, to expand their product portfolio and maintain a competitive edge in the market. They are also making heavy investments in attractive and sustainable packaging solutions due to the growing environmental concerns among the masses. Other factors, including the increasing demand for meat protein, shifting preferences toward healthy and nutritious food items, inflating consumer expenditure capacities, and the rising influence of cross-culture dietary patterns, are also creating a positive market outlook. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bacon market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, product type, source, nature, and distribution channel.

Breakup by Type:

• Dry Cured
• Immersion Cured
• Pumped Bacon
• Others
   

Breakup by Product Type:

• Standard Bacon
• Ready-To-Eat Bacon
   

Breakup by Source:

• Pork
• Beef
• Turkey
• Chicken
   

Breakup by Nature:

• Organic
• Conventional
   

Breakup by Distribution Channel:

• Institutional Sales (HoReCa)
• Supermarkets and Hypermarkets
• Independent Retailers
• Specialist Retailers
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Foster Farms, Fresh Mark Inc., Great British Meat Company, Hormel Foods Corporation, Karro Foods Group Limited, Maple Leaf Foods Inc., OSI Group, Seaboard Corporation, Smithfield Foods Inc. (WH Group Limited), The Kraft Heinz Company, True Story Foods and Tyson Foods Inc.

Report Coverage: