The bacon market was valued at US$ 27,419.94 million in 2018 and is projected to reach US$ 40,004.62 million by 2027; it is expected to grow at a CAGR of 4.3% from 2019 to 2027.
Bacon refers to the sides and belly portion of the pig’s body that is cured and smoked. Bacon is versatile in terms of cooking and helps in increasing the flavor of dishes. When wrapped around lean meats, it proffers moisture while it is cooked. Development in meat processing technologies and an increase in the demand for meat protein, the bacon market has experienced tremendous growth during the past years. The upsurge in demand for pizza, sandwiches, and hamburgers have also bolster well the bacon market growth. However, bacon contains some amount of fats and sodium that increases the risk of heart diseases and blood pressure. This restricts the demand for bacon. Development in new products like turkey bacon is expected to provide lucrative opportunities to the bacon market in the upcoming years.
The bacon market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is primarily attributed to increase in the middle class population and urbanization that offers several opportunities to the manufacturers of bacon. Due to the ever-increasing disposable income of the middle-income group population, people are willing to pay higher prices for food products, such as bacon and other processed meat products. Changing consumer’s taste and preference and upsurge in the demand for processed meat products have also incremented the demand for bacon in the Asia Pacific region. Besides, rising demand for bacon by snack category as a result of the use of bacon in convenience food have also favored the demand for bacon in Asia Pacific region.
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Bacon Market: Strategic Insights
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Bacon Market: Strategic Insights
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Impact of COVID-19 Pandemic on Bacon Market
The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages are among the significant industries suffering from severe disruptions such as restrictions on the supply chain and shutdown of production plants. The shutdown of different plants and factories in various countries disrupts the global supply chains and negatively impacts the manufacturing activities, delivery schedules, and multiple goods sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering business collaboration and partnership opportunities. Thus, these factors are restraining the growth of the bacon market in the food and beverage industry.
Market Insights
Rising preference for convenience food products Is Expected to Fuel Bacon Market Growth
Convenient foods are food products that need less time and effort for preparation. The demand for convenience foods such as tinned or packaged meat products, kinds of bacon, and others is increasing at a faster pace due to changes in social and economic patterns, and rapid urbanization. Additionally, the increasing buying power of the consumers, rising awareness about health foods, and changes in food habits and meal patterns further bolster the demand for convenience food. Convenience food is rapidly gaining popularity among children, teenage, working-class people, and people living in hostels and bachelors. The significant shift of the people towards convenience foods in developed countries such as the US, Canada, Mexico, Germany, France, Italy, and China, among others, is driving the demand for bacon market globally. Bacon is extensively used by individual consumers and by foodservice providers. Bacon offers food service providers, restaurants, and other consumers a simple and easy way to offer a great variety of food options. Therefore, the increasing demand for bacon for the preparation of various recipe is projected to drive market growth.
Nature Insights
Based on nature, the bacon market is bifurcated into organic and conventional. In 2018, the conventional segment led the bacon market. Conventional bacon is a type of salt-cured pork. It is prepared from various cuts of meats, mainly from a pig’s belly or from the back cuts that have less fat as compared to the belly of pigs. It has a rich, crispy, and salty taste with melt-in-your-mouth texture. Bacon is a versatile red meat and receives a smoky flavor from the natural smoke that is obtained by smoldering wood chips or by spraying the bacon with a liquid smoke extract. Bacon is made along with salt used as a curing agent, and nitrite added as an additive. It belongs to a category of cured and processed pork bellies that end up in strips or circular pattern. They are available in different varieties such as middle bacon or rashes in the form of a thin strip cut from the belly pork with a thin round piece of loin at one end, and streaky bacon is of the same cut but without the round loin end. Bacon is highly nutritious. A typical 100 grams of bacon contains 37 grams of high-quality animal protein, 89% of RDA for selenium, 53% of RDA for phosphorous along with vitamin B1, B2, B3, B5, B6 and B12.
Source Insights
Based on source, the bacon market is segmented into pork, beef, turkey, and chicken. The pork segment accounted for the largest market share in 2018. Pork is the culinary name for the meat of domestic pig. Pork bacon has been one of the major contributing sources for the global expansion of the bacon market. In regions such as North and South America, Europe and some countries in the Asia Pacific region, there has been an increasing demand for the pork bacon. The US, Canada, Mexico, Italy, France, Germany, and UK amongst many other countries has experienced a rising demand for the pork market and is estimated to be growing in the coming years. The rising demand for pork bacon in these regions has contributed to the over expansion of the bacon market all over the globe. Flavored pork bacon, such as apple-smoked or peppered, also is available globally. In general, as bacon has a higher fat content and intense smoky flavor, the increasing demand and flavor for pork meat has favored the market globally.
Type Insights
Based on type, the bacon market is segmented into dry cured, immersion cured, and pumped bacon. The pumped bacon segment accounted for the largest market share in 2018. The pumped bacon is the method in which the bacon is injected with curing ingredients and massaged or tumbled. It has been advised that the use of sodium nitrite should be approximately 120 parts per million (ppm) and an equivalent amount of potassium nitrite used at 148 ppm ingoing. Sodium ascorbate or sodium erythorbate is be used at 550 ppm. The USDA regulation records that sodium ascorbate or sodium erythorbate has a molecular weight of approximately 198. Hydrated forms of such substances should be altered to attain the equivalent of 550 ppm of sodium ascorbate or sodium erythorbate. Since under certain circumstances, nitrite in cured meat product subsidizes to the formation of nitrosamines, a known carcinogenic, the USDA in-plant inspection system calls for pulling samples of pumped bacon. Such samples are examined to determine the level of nitrosamines with the help of a Thermal Energy Analyzer (TEA). If TEA indicates a certain level of nitrosamines, additional samples are collected and subjected to examination using gas chromatography. The presumptive positive must be confirmed by mass spectrometry. If anyone of the original samples collected by USDA for confirmation is found to contain confirmable levels of nitrosamines, all pumped bacon in the production establishment and all future production will be retained.
A few players operating in the bacon market are Applegate Farms, LLC.,Farmland Industries, Inc., Foster Farms, Hormel Foods Corporation, JBS S.A., Karro Food Group, Organic Prairie, Osi Group., Smithfield Foods, Inc. and True Story Foods among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.
Bacon Market Regional Insights
The regional trends and factors influencing the Bacon Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Bacon Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Bacon Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 27.42 Billion |
| Market Size by 2027 | US$ 40 Billion |
| Global CAGR (2018 - 2027) | 4.3% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Nature
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Bacon Market Players Density: Understanding Its Impact on Business Dynamics
The Bacon Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Bacon Market are:
- Applegate Farms, LLC
- Farmland Industries, Inc
- Foster Farms
- Hormel Foods Corporation
- JBS S.A.
Disclaimer: The companies listed above are not ranked in any particular order.
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Report Spotlights
- Progressive industry trends in the bacon market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the bacon market from 2019 to 2027
- Estimation of global demand for Bacon
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the bacon market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the bacon market size at various nodes
- Detailed overview and segmentation of the market, as well as the bacon industry dynamics
- Size of the bacon market in various regions with promising growth opportunities
Bacon Market – By Nature
- Organic
- Conventional
Bacon Market – By Source
- Pork
- Beef
- Turkey
- Chicken
Bacon Market – By Type
- Dry Cured
- Immersion Cured
- Pumped Bacon
Bacon Market – By Distribution Channel
- Supermarkets and Hypermarkets
- Independent Retailers
- Food Service
- Others
Company Profiles
- Applegate Farms, LLC.
- Farmland Industries, Inc.
- Foster Farms
- Hormel Foods Corporation
- JBS S.A.
- Karro Food Group
- Organic Prairie
- Osi Group.
- Smithfield Foods, Inc.
- True Story Foods
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Nature ; Source ; Type ; Distribution Channel ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, Japan, Mexico, Russian Federation, South Africa, South Korea, Uganda, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The growth of the organic segment is primarily attributed to the fact that they are free from antibiotics and preservatives. Organic bacon is highly demanded as the consumers have a perception that it typically contains higher concentrations of nutritional compounds and thus is healthier. The pigs are fed all types of vegetarian and organic diet consisting of corn, alfalfa, and minerals before obtaining organic bacon from them. Mainly, organic bacon starts as a lean belly that had been trimmed by expert butchers and then smoked on apple wood at low temperatures. They are uncured and free from nitrite and nitrates. Some of the brands associated with organic bacon are Applegate Organic Bacon, Organic Prairie Bacon, and Pasture Perfect Free Range Bacon.
The major players operating in the global bacon market are Applegate Farms, LLC., Farmland Industries, Inc., Foster Farms, Hormel Foods Corporation, JBS S.A., Karro Food Group, Organic Prairie, Osi Group., Smithfield Foods, Inc. and True Story Foods among many others.
In 2018, the bacon market was predominant in North America at the global level. The food and beverage companies operating in the region are continuously enhancing the overall business processes to meet the rising customers' demands in the best possible way. Factors such as increasing demand for meat protein coupled with the rapid development and growth in meat processing technology are boosting the bacon market in the North America region. Additionally, surging demand for convenience food such as breakfast sandwiches, pizza, hamburgers, and appetizers where bacon is used as a key ingredient has surged the demand for bacon market in the region. The development of new products such as turkey and chicken bacon is projected to create new opportunities for the key players operating in the market over the forecast period.
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The List of Companies - Global Bacon Market
- Applegate Farms, LLC
- Farmland Industries, Inc
- Foster Farms
- Hormel Foods Corporation
- JBS S.A.
- Karro Food Group
- Organic Prairie
- OSI Group
- Smithfield Foods, Inc
- True Story Foods
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