The latest report by IMARC Group, titled “Bacon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global bacon market size reached US$ 65.27 Billion in 2021. Bacon is a type of salt-cured pork usually made from the side and belly portion of a pig. It is consumed as a side dish, incorporated into meals, or used as an ingredient in dishes like sandwiches, soups, salads, and sweets such as maple bacon ice cream. It is available in various flavors, such as apple, maple, mesquite, and low-fat and low-sodium versions. Moreover, it is also made from other animals, such as turkey and chicken, which are typically leaner than pork bacon. At present, bacon is a popular breakfast option for individuals of all age groups due to its unique, smoky flavor and longer shelf life.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Bacon Market Trends:
The market is primarily driven by the escalating demand for ready-to-eat (RTE) and ready-to-cook (RTC) food products on account of the expanding working population, hectic lifestyles, and changing dietary habits of individuals. In addition, the growing consumer acceptance of convenience meat products with enhanced taste, quality, and shelf life represent another major growth-inducing factor. Moreover, various quick-service restaurants (QSR) and food outlets are incorporating bacon products to increase their menu options and attract more consumers. This, coupled with the rising consumption of meat products like bacon as a part of paleo and keto diet plans among health- and fitness-conscious consumers, is contributing to the market growth. Besides this, several key players are introducing innovative product variants, such as low-calorie and gluten-free bacon, to expand their consumer base and maintain a competitive edge in the market. They are also investing in attractive and sustainable packaging solutions, which is augmenting the market growth. Furthermore, the increasing demand for meat protein, rising disposable incomes, and the growing influence of cross-culture dietary patterns are some of the other factors anticipated to propel the market growth. Looking forward, IMARC Group expects the market value to reach US$ 83.55 Billion by 2027, exhibiting a CAGR of 3.80% during the forecast period (2022-2027).
- Based on the type, the market has been classified into dry-cured, immersion cured, pumped bacon, and others.
- On the basis of the product type, the market has been bifurcated into standard bacon and ready-to-eat bacon.
- Based on the source, the market has been categorized into pork, beef, turkey, and chicken.
- On the basis of nature, the market has been segmented into organic and conventional bacon.
- The market has been segregated based on the distribution channel into institutional sales (HoReCa), supermarkets and hypermarkets, independent retailers, specialist retailers, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- 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.
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