The global Bacon Market Growth Accelerated by Increasing Health Conscious Population
Bacon, as a delicious ingredient, is very versatile and is a
good source of protein, vitamins, minerals, and fatty acids. It is used in many
cuisines and cooking styles around the world. However, some health risks are
associated with high consumption of processed bacon due to high sodium and
saturated fat content. This has led to an increased demand for healthier bacon
products with lower fat and sodium content.
The global Bacon Market is estimated to be valued at US$
28727.44 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2031, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
The increasing health conscious population is one of the key trends driving
growth of the bacon
market size. With rising awareness about risks of excessive consumption
of processed meats, consumers are demanding healthier bacon options. This has
prompted bacon manufacturers to introduce various low-fat, low-sodium, and
nitrate-free bacon varieties. For example, in 2020, Oscar Mayer, a leading
bacon brand, launched a line of pre-cooked turkey bacon made with no artificial
ingredients. Similarly, Applegate, another major player, offers uncured and
organic bacon options with 50% less sodium and 30% fewer calories. Besides,
launches of plant-based vegan bacon alternatives by startups like Upton’s
Naturals and The Crazy Vegan is also widening options for health-conscious
consumers. Such product innovations are helping accelerate market growth over
the forecast period.
Segment Analysis
The bacon market is segmented on the basis of bacon strips, diced bacon, cooked
bacon, and prepackaged bacon. Among these, the prepackaged bacon segment
dominates the global market and accounts for over 35% of overall sales.
Prepackaged bacon strips are precooked and packaged in air-tight packs, which
makes them very convenient to use for sandwiches, salads, and snacks. Their
long shelf life and ease of use has resulted in their wide popularity globally.
Key Takeaways
The global bacon market is expected to witness high growth over the forecast
period of 2024 to 2031. Increased snacking habits across both developed and
developing nations are driving the demand for convenient bacon strips and
prepackaged bacon products. The global Bacon Market is estimated to be valued
at US$ 28727.44 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2031.
Regional analysis:
North America dominates the global bacon market accounting for over 40% of
sales. The United States is the largest consumer of bacon globally. However,
the Asia Pacific region is expected to witness the fastest growth over the
coming years. Rising western influences and growth in organized retail are
increasing bacon consumption in countries such as China, India and Japan.
Key players:
Key players operating in the bacon market include Johnson & Johnson, Pfizer
Inc., Eli Lilly and Company, and GlaxoSmithKline plc. Johnson & Johnson is
a leading player in the global bacon market and is the largest seller of
prepackaged bacon strips in the United States. Pfizer Inc. has a strong
portfolio of precooked bacon strips sold under its flagship brand name.
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