The market was estimated to be worth US$ 27,419.94 million in 2018 and is expected to reach US$ 40,004.6 million by 2027, according to our most recent market study, “Global Bacon MarketForecast to 2027 – COVID-19 Impact and Global Analysis – by Nature (Organic, Conventional); Source (Pork, Beef, Turkey, Chicken); Type (Dry Cured, Immersion Cured, Pumped Bacon); Distribution Channel (Supermarkets and Hypermarkets, Independent The study identifies important market growth drivers as well as notable industry participants and their recent product advancements.
The cured and smoked flanks and belly of the pig are referred to as bacon. Bacon may be used in a variety of ways when cooking and enhances the flavour of food. It adds moisture when wrapped over lean meats during cooking. The bacon business has expanded significantly over the past few years due to advancements in meat processing technology and a rise in demand for animal protein. The growth of the bacon business has also been aided by the surge in demand for pizza, sandwiches, and hamburgers. Bacon does, however, include some sodium and lipids that raise the risk of high blood pressure and heart disease. As a result, there is less demand for bacon.
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In recent decades, the demand for food products has expanded at an unprecedented rate due to the rapid rise in population growth, rising urbanisation, and attention on bettering quality of life. The cattle sector is crucial in supplying the expanding demand. The demand for animal protein is strongly correlated with household income. The demand for animal protein is expected to rise along with disposable income, which would increase consumption of animal-based foods like meat, bacon, and other items. Additionally, the emerging nations are starting to consume more meat and meat products due to the drop in the price of meat products.
Applegate Farms, LLC, Farmland Industries, Inc., Foster Farms, Inc., Hormel Foods Corporation, JBS S.A, Karro Food Group, Organic Prairie, OSI Group, Smithfield Foods, Inc., and True Story Foods are some of the well-established players present in the global bacon market.
The COVID-19 outbreak started in Wuhan (China) in December 2019, and since then it has quickly spread throughout the world. In terms of confirmed cases and recorded fatalities as of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the nations that have been most severely impacted. Because of lockdowns, travel restrictions, and company closures, the COVID-19 epidemic has had an impact on the economies and sectors of many different nations. One of the key sectors affected by this outbreak is the global food, beverage, and chemical sector, which is dealing with supply chain disruptions, technology event cancellations, and office closures.
The report includes the segmentation of the global bacon market as follows:
- Dry Cured
- Immersion Cured
- Pumped Bacon
By Distribution Channel
- Supermarkets and Hypermarkets
- Independent Retailers
- Food Service
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
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