Market Size of Global Bacon Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.24 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bacon Market Analysis
Over the next five years, the global bacon market is expected to register a CAGR of 4.24 percent.
The key factor driving market expansion is the increasing demand for ready-to-eat (RTE) and ready-to-cook (RTC) foods due to an increased working population, hectic lifestyles, and changing dietary patterns. Aside from that, rising consumer awareness and acceptance of convenience meat products with improved flavor, quality, and shelf life is driving up demand for bacon. In addition, increased consumption of meat products such as bacon as part of paleo and keto diet regimens among health- and fitness-conscious customers is fueling market expansion. Also, many market leaders are making new versions of their products, like low-calorie and gluten-free bacon, so they can offer more products and stay ahead of the competition.
Foodservice outlets have increased their menu options by offering a wide range of products containing bacon, thereby boosting market growth. The demand for bacon has increased as the demand for meat protein has surged, in addition to the development and growth of meat processing technology. Furthermore, rising demand for foods containing bacon, such as pizza, breakfast sandwiches, appetizers, and hamburgers, has raised market demand for bacon. However, bacon contains a substantial quantity of sodium and fat, which raises the risk of heart disease and high blood pressure, and growing consumer awareness about these factors has been limiting the growth of the bacon market. However, the emergence of new goods such as turkey bacon has opened up new avenues for market expansion.
Bacon Industry Segmentation
Bacon is a form of pork that is usually created from the side of a pig that has been cured and smoked after the spare ribs have been removed. The global bacon market is segmented by type into standard bacon and ready-to-eat bacon. Based on the distribution channel, the market studied segmented into food service channels and retail. The food service channel is further fragmented into full-service restaurants, quick-service restaurants, cafes and bars, and other food service channels. Retail channels are further classified into supermarkets/hypermarkets, specialty stores, online stores, and other retail channels. The report further analyses the global scenario of the market, which includes a detailed analysis of North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report offers the market size and forecasts of the market in value (USD million) for all the above segments.
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Global Bacon Market Size Summary
The global bacon market is poised for significant growth over the next five years, driven by the increasing demand for ready-to-eat and ready-to-cook foods. This demand is largely fueled by a growing working population and shifting dietary patterns that favor convenience. Consumers are becoming more aware of and accepting towards meat products that offer enhanced flavor, quality, and shelf life, which is further propelling the market. The popularity of bacon in paleo and keto diets among health-conscious individuals also contributes to market expansion. Additionally, the introduction of innovative product variations, such as low-calorie and gluten-free bacon, by market leaders helps them maintain a competitive edge. The foodservice sector plays a crucial role in this growth, with an expanding menu of bacon-containing products in restaurants and quick-service outlets, driven by the rising demand for meat protein and advancements in meat processing technology.
North America holds a dominant position in the global bacon market, with consumers increasingly opting for meat-based breakfast options. Fast-food chains in the region are expanding their bacon offerings to enhance customer satisfaction, further boosting market sales. The region's pride in its meat sector, supported by government initiatives, fosters innovation and competitiveness among bacon producers. The market is characterized by a high degree of fragmentation, with major players like Hormel Foods Corporation, Tyson Foods, Inc., and The Kraft Heinz Company leading the charge. These companies are strategically expanding their product portfolios to meet diverse consumer demands across various food segments. Recent developments, such as Hormel's new business model and Tyson's investment in automation, highlight the industry's focus on enhancing efficiency and expanding market reach.
Global Bacon Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Standard Bacon
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2.1.2 Ready-to-eat Bacon
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2.2 Distribution Channel
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2.2.1 Foodservice Channel
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2.2.1.1 Full-service Restaurants
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2.2.1.2 Quick-service Restaurants
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2.2.1.3 Cafes and Bars
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2.2.1.4 Other Foodservice Channels
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2.2.2 Retail Channel
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2.2.2.1 Supermarkets/Hypermarkets
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2.2.2.2 Specialty Stores
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2.2.2.3 Online Stores
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2.2.2.4 Other Retail Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Middle East & Africa
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Global Bacon Market Size FAQs
What is the current Global Bacon Market size?
The Global Bacon Market is projected to register a CAGR of 4.24% during the forecast period (2024-2029)
Who are the key players in Global Bacon Market?
Hormel Foods Corporation, Tyson Foods Inc., The Kraft Heinz Company, WH Group Limited and Fresh Mark Inc. are the major companies operating in the Global Bacon Market.
