Bacon Market, Analysis By Type (Standard and Cooked/Ready-to-Eat), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Retail Stores, and Others), and Regional Forecast, 2024-2032

Bacon has been a popular food worldwide owing to its unique, smoky flavor and longer shelf life. The rising demand for meat protein and rigorous development in meat processing further propel the global bacon market. In several countries, bacon is consumed in breakfast, owing to changing eating habits among consumers and served with waffles, pancakes, and eggs. Moreover, consumer's hectic lifestyles and demand for on-the-go breakfast options surge the demand for bacon in the market. Therefore, manufacturers are launching new bacon products to meet the increasing demand. For instance, in November 2021, Niman Ranch, the beef, lamb, and pork producer, blended two breakfast protein staples in its new smoked bacon uncured breakfast sausage links and made with the brand's applewood smoked bacon.

To cater to the growing demand for bacon in the market, the leading players focus on leveraging opportunities by adopting several strategies, such as mergers & acquisitions, partnerships, investments, and base expansion, to emerge in the global bacon market. For instance, in February 2023, Tyson Foods Inc., an American multinational corporation, signed an agreement to acquire Williams Sausage Company, a provider of fresh and fully cooked sausage, bacon, and sandwiches to retail and food service customers. The acquisition of Williams Sausage Company would help Tyson Foods to expand its meat capacity and serve a huge consumer base.

The increasing vegan population owing to various health concerns may hamper the market growth of bacon and its products as people opt for plant-based substitutes and reduce their meat consumption.

Impact of COVID-19 on the Bacon Market

The COVID-19 pandemic negatively impacted the global bacon market growth. The pandemic affected the agri-food industry from the business and labor side, and significantly impacted the meat processing sector. The outbreak disrupted the entire meat supply chain, from primary production (livestock rearing) to processing and retail, which inevitably impacted the businesses. Due to the spread of the virus, various processing plants led to closures or limited operating capacity, leading to a significant decline in the output of processed meat, including bacon. For instance, in April 2020, Smithfield Foods Inc., a pork producer and food-processing company, had to shut down its U.S. bacon and ham plants due to the coronavirus outbreak.

Key Insights

The report will cover the following key insights:

• The product launched by key market players


• Type of bacon products


• Overview of the global bacon market


• Drivers of the global bacon market


• Impact of COVID-19 on the global market

Analysis by Type

The standard segment is expected to hold a significant bacon market share, owing to growing innovation in the bacon industry due to increasing preference for a variety of bacon and rising consumption. The rising popularity of flavored bacon further surges the demand for the product. Therefore, prominent players in the market develop bacon products with innovative and unique flavors. For instance, in October 2020, Hormel Foods Corporation, an American food processing company, introduced two new Hormel Black Label bacon flavors. The new flavors are black-label ranch thick-cut bacon and Hormel black-label classic country-style thick-cut bacon.

Analysis by Distribution Channel

The supermarket/hypermarket segment is expected to hold a major share of the global bacon market. Supermarkets/hypermarkets give consumers a wide range of product choices. Factors, such as high quality of the available product, availability of several product varieties, and specifications related to curing and smoking procedures, are all provided by such markets. These factors play a significant role in the sales of bacon products in supermarkets, further accelerating the demand for the product.

The online retail stores segment is expected to grow at a high CAGR over the forecast period. The shift in consumer habits and technological advancements have paved the way for online channels. The convenience of at-home delivery services and special discounts also help attract a large consumer base. The players in the market launch new websites and portals to offer branded direct-to-consumer experiences for their customers. For instance, in June 2019, ButcherBox, a company delivering grass-fed beef, free-range organic chicken, humanely raised pork, and wild-caught seafood, partnered with Niman Ranch to launch a digital forefront. The partnership enabled ButcherBox to launch its new digital storefront by launching its website. Further, the partnership enabled Niman Ranch consumers to purchase products online through a new storefront powered by ButcherBox.

Analysis by Region

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North America is expected to hold a major global bacon market share. Consumers from the U.S. and Canada majorly opt for meat-based breakfast options, including bacon. Fast food chains, such as McDonald's, Burger King, and Papa John's, have also introduced more bacon options in different flavor profiles. For instance, in October 2021, an American pizza restaurant chain introduced three new bacon-based item such as triple bacon pizza, smoky bacon parmesan-crusted papadia, and bacon jalapeño popper rolls. The regional players focus on several strategies, such as mergers & acquisitions, investments, partnerships, and base expansion, to meet the growing bacon demand in the region. For instance, in February 2022, Tyson Foods invested USD 355 million in a bacon production facility. The investment helped meet increasing retail and food service demand for bacon products in the region and accelerate long-term growth aligned to consumer trends.

Key Market Players

The key players in the market include BRF S.A, Cargill, Inc., Farmland Foods, Inc., Niman Ranch, Tonnies Lebensmittel GmbH & Co. KG, the Oscar Mayer Company, Karro Food Group Limited, Hormel Foods Corporation, Tyson Foods Inc., and Fresh Mark Inc.

Segmentation

Key Industrial Developments

• In January 2023, North Country Smokehouse, a family-owned, artisanal smoked meat producer, expanded its product portfolio with the launch of an organic applewood smoked uncured Canadian bacon.


• In March 2022, Vermont Smoke and Cure, a premium brand offering smoked meats and meat snacks, launched new hickory smoked uncured bacon pork mini sticks. The new product is made available in retail and online stores.