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North America holds a significant share of the bacon industry owing to the significant consumption of bacon in the region. Bacon is extensively used in various food products in the region to enhance their taste and nutritional composition. Moreover, the growing popularity of bacon salads and bacon-flavoured products in the United States and Canada is significantly contributing to the growth of the bacon industry. The introduction of various innovative bacon-based food products in restaurants, owing to the growing demand for breakfast food is further augmenting the industry growth. In addition, the advent of various quick-service restaurants (QSRs) and food delivery services in the region are surging the demand for pork delicacies, which is further accelerating the market growth of bacon.
Hormel Foods Corporation (NYSE: HRL), one of the key players in the industry, launched Hormel Black Label Ranch Thick Cut Bacon and Hormel Black Label Classic Country Style Thick Cut Bacon in October 2020. The latter is specifically designed for ranch enthusiasts as it is hand-rubbed with ranch seasoning and naturally hardwood smoked to create an irresistible flavour. The products would also deliver a distinct flavour of bacon and creamy ranch that can be consumed with sandwiches, salads, or baked potatoes, to create a mouthful meal. Moreover, the product range offers a superior flavour of bacon that is made with time-honoured processing as the products are handcrafted using only the finest ingredients and smoked for over 10 hours. The introduction of such products by major players is expected to propel the demand for bacon and is expected to propel the market growth of bacon in the coming years.
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The major players in the global bacon market are Hormel Foods Corporation, Tyson Foods Inc., The Kraft Heinz Company, Fresh Mark Inc., and Maple Leaf Food, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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