Bacon Market

Global Bacon Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Type (Dry Cured, Immersion Cured, Pumped Bacon, and Others), By Product Type (Standard Bacon and Ready-To-Eat Bacon), By Distribution Channel (Supermarkets and Hypermarkets, Independent Retailers, Specialist Retailers, and Others), By Nature (Organic and Conventional), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Food & Beverages | February 2024 | Report ID: EMR00557 | Pages: 301

The global bacon market was valued at USD 72.50 billion in 2023 and is estimated to reach approximately USD 104.21 billion by 2032, at a CAGR of 4.1% from 2024 to 2032.

The manufacture and marketing of cured pork belly strips define the bacon market, a vibrant segment of the food business. Because of its rich flavor, adaptability, and extensive use in a variety of culinary applications, bacon is very popular. In addition to being a necessary morning staple, it's also popular in salads, sandwiches, and a variety of other cuisines as a flavor enhancer. Bacon has progressed beyond its basic forms over time, with artisanal and flavored variations meeting a range of customer tastes. As consumers place a greater focus on sustainability, quality, and health-conscious options, the bacon market is responding to these changes by providing a variety of options.

 

 

BACON MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

72.50 Bn

Projected Market Value (2032)

104.21Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Product Type, By Distribution Channel, By Nature, & Region

Segments Covered

By Type, By Product Type, By Distribution Channel, By Nature, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Bacon Dynamics

Growing customer demand for healthier options has resulted in a demand for a variety of bacon options, including flavored and lean variants. By releasing cutting-edge, high-end, and ethically sourced goods, producers are responding to these trends. Further influences on market dynamics are changes in the price of meat, interruptions in the supply chain, and worldwide economic variables. Cost-effectiveness and efficiency are influenced by technological developments in production and distribution. In order to achieve sustainable growth and satisfy the evolving needs of today's discriminating customers, cooperation within the industry is essential as the bacon market navigates these issues.

 

Global Bacon Drivers

  • Innovation and Premiumization

The market for bacon is seeing innovation and premiumization due to customers' growing desire for distinctive flavors, premium goods, and gourmet experiences. Producers use unique flavor profiles, handcrafted production techniques, and premium ingredients to set themselves apart from the competition. This driver is indicative of a larger trend toward more sophisticated eating establishments and a willingness to spend more for higher materials and workmanship. Bacon producers can keep a competitive edge in the market and grab consumer interest by consistently innovating and focusing on premiumization.

  • Changing Consumer Preferences

Different bacon options are what consumers are looking for, including as slimmer cuts, variations with less sodium, and unique flavors. The necessity for bacon producers to be adaptable and flexible in order to satisfy changing consumer demands is highlighted by this driver. Maintaining market relevance and sustaining customer pleasure requires an ability to recognize and adapt to shifting consumer preferences, whether it's satisfying health-conscious consumers or exciting palates with novel flavors.

 

Restraints:

  • Supply Chain Disruptions

Disruptions in the supply chain have a substantial negative influence on production, availability, and distribution, which limits the bacon market. Natural disasters, transportation problems, or livestock diseases can all impede the movement of raw materials and completed goods. Shortages of supplies, higher manufacturing costs, and difficulties satisfying customer demand are the results of these disruptions. Uncertainty in the supply chain can also impair consumer confidence, threaten market stability, and interfere with bacon producers' and retailers' long-term expansion plans.

  • Health Concerns

As customers grow more conscious of the health hazards connected to consuming processed and high-fat pork, there are noticeable limitations in the bacon market due to health concerns. Demand is dropping in part because of studies connecting bacon intake to diseases including cancer and heart disease. Sales are impacted when health-conscious customers look for alternatives or cut back on bacon. Strict laws governing health claims and labeling further limit the market. Sustaining consumer confidence and market viability requires addressing these issues with innovative products and open communication.

 

Opportunities:

  • Convenience and Ready-to-Eat Products

There is a demand for pre-cooked, microwaveable, or pre-packaged bacon items due to busy lifestyles and an increasing desire for quick supper options. Bacon producers can satisfy consumers who are always on the go, busy families, and people looking for quick meal alternatives by providing these convenient options. Additionally, bacon can be included in new consumption contexts like snacks and salads, and sandwiches thanks to convenience-focused goods.

  • Leveraging e-commerce platforms

Because internet buying is becoming more and more popular and convenient, bacon manufacturers may now reach a wider audience outside of traditional retail channels. They may provide a large selection of bacon items directly to customers by creating an online presence, making ordering and delivery simple. Additionally, e-commerce platforms give chances for customized promotions, targeted marketing, and the collection of insightful consumer data to improve customer satisfaction and optimize product offerings.

 

Segment Overview

  • By Type

Based on type, the global bacon market is divided into dry cured, immersion cured, pumped bacon, and others. The dry-cured category dominates the market with the largest revenue share in 2023. The process of making dry-cured bacon involves rubbing salt and seasonings all over the pork belly. After that, the bacon is given a long time to cure, which lets the salt seep into the meat and extract moisture to help preserve it.  Bacon that has been cured by immersion is made by immersing the pig belly in a brine solution that contains sugar, salt, water, and curing agents such as sodium nitrite or sodium nitrate. Pumped bacon, sometimes called brine-injected bacon, is made by employing specialized equipment to inject a curing solution into the pork belly.

  • By Product Type

Based on the product type, the global bacon market is categorized into standard bacon and ready-to-eat bacon. The ready-to-eat bacon category leads the global bacon market with the largest revenue share in 2023. As the name implies, ready-to-eat bacon is bacon that has been cooked ahead of time and packaged so that it may be consumed right away without further cooking. Usually sold as precooked slices or strips, this variety of bacon is thoroughly cooked during manufacturing. The term "standard bacon" describes the type of bacon that is traditionally consumed after being cooked. This kind of bacon is frequently utilized in a variety of culinary applications and is usually sold raw and uncooked, whether in slices or slabs.

  • By Distribution Channel

Based on the distribution channel, the global bacon market is segmented into supermarkets and hypermarkets, independent retailers, specialist retailers, and others. The supermarkets and hypermarkets segment dominates the bacon market. Supermarkets and hypermarkets are huge grocery stores that house a variety of food items, including bacon. Serving a wide range of patrons, these businesses frequently stock different bacon brands and kinds.  Independent retailers function autonomously from larger chains and include specialty food stores, corner stores, and smaller grocery stores. Butcher shops, charcuteries, and gourmet food stores are examples of stores that specialize in particular product categories and are referred to as specialist retailers.

  • By Nature

Based on nature, the global bacon market is divided into organic and conventional. The organic category dominates the market with the largest revenue share in 2023. Pigs reared on approved organic farms that follow stringent organic farming guidelines are used to create bacon that is certified organic. The use of artificial fertilizers, growth hormones, antibiotics, synthetic pesticides, and genetically modified organisms (GMOs) in pig feed and management is forbidden under these regulations. Alternatively, conventional bacon comes from pigs that are reared using standard farming practices, which may include synthetic fertilizers, antibiotics, pesticides, and other inputs.

 

Global Bacon Overview by Region

The global bacon market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. Bacon is a common element in many recipes and a mainstay in North American diets, hence the area has a strong heritage of bacon eating. Furthermore, a reliable supply of bacon to satisfy consumer demand is guaranteed by North America's robust pork sector, a plethora of hog production facilities, and effective distribution networks. The region's inventive food culture and varied culinary environment have also sparked the creation of a wide range of bacon flavors and products, which have helped the industry expand throughout North America by meeting changing customer demands.

Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. The demand for bacon and other Western-style food products in the region is being driven by factors such as increasing urbanization, increased disposable incomes, and shifting dietary habits. In addition, the developing food service sector, growing retail networks, and rising consumer awareness of bacon's culinary versatility are all contributing to the market's growth. Furthermore, the region's sizable population base creates a sizable consumer market, providing plenty of opportunity for bacon producers to profit from Asia-Pacific's expanding demand.

 

 

Global Bacon Competitive Landscape

In the global bacon market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global bacon market include,

  • 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.
  • The Kraft Heinz Company
  • True Story Foods
  • Tyson Foods Inc. and various others.

 

Global Bacon Recent Developments

  • In August 2022, Hormel Foods intended to implement a fresh business strategy. Hormel Foods Corp. established three divisions to implement a new business plan: international, food service, and retail. The goal of the new operating model is to help Hormel achieve its strategic goals, which include becoming a leader in the food service industry, strengthening and expanding its core brands, expanding its reach globally, increasing its scale in snacking and entertaining, boosting the expansion of its cultural and food-forward portfolios, and revolutionizing the business.

 

Scope of the Global Bacon Report

Bacon Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Dry Cured
  • Immersion Cured
  • Pumped Bacon
  • Others

By Product Type

  • Standard Bacon
  • Ready-To-Eat Bacon

By Distribution Channel

  • Supermarkets and Hypermarkets
  • Independent Retailers
  • Specialist Retailers
  • Others

By Nature

  • Organic
  • Conventional

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Bacon Market Size and Forecast: To identify and estimate the market size for the global bacon market segmented by type, by product type, by distribution channel, by nature, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of bacon between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global bacon market
  • Market Influencing Factors: To find out the factors which are affecting the sales of bacon among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global bacon market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Food Industry Professionals
  • Retailers
  • Food Service Providers
  • Agricultural Sector
  • Government Agencies and Regulatory Bodies

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the bacon market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to bacon market research, the market is expected to grow at a CAGR of ~4.1% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2024 - 2032
North America held the largest share in 2023.
The major players operating in the global market include 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, and various others.