Global Bacon Market to Grow at a CAGR of 4.3% During 2024-2032, Aided by the Rising Demand for Bacon-Flavoured Products

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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Market Analysis by Product Type, Distribution Channel, and Region:

• The market, on the basis of product type, can be divided into standard bacon and ready-to-eat bacon.

• Based on distribution channel, the industry can be divided into foodservice channel and retail channel.

• The regional markets for bacon include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand for ready-to-eat bacon owing to the growing preference for nutritious and healthy food products is propelling the market growth.

• The market is being driven by the rising popularity of various dietary trends such as whole 30, keto, and paleo diets, hence surging the demand for bacon.

• The development of bacon-based products with innovative and diverse flavours and textures is augmenting the market growth.

• The increasing research and development (R&D) activities for the development of cruelty-free bacon are invigorating the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for bacon for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, distribution channels, and major regions of bacon.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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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