Bacon Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Bacon Market Demand and it is segmented by Type (Standard Bacon and Ready-to-eat Bacon), Distribution Channel ((Foodservice) Full-service restaurants, Quick-service restaurants, Cafes and Bars, and Other Foodservice Channels) and Retail (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Other Retail Channels)) and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Bacon Market Size

Bacon Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.24 %
Fastest Growing Market South America
Largest Market North America
Market Concentration Low

Major Players

Bacon Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Bacon Market Analysis

Over the next five years, the global bacon market is expected to register a CAGR of 4.24 percent.

The key factor driving market expansion is the increasing demand for ready-to-eat (RTE) and ready-to-cook (RTC) foods due to an increased working population, hectic lifestyles, and changing dietary patterns. Aside from that, rising consumer awareness and acceptance of convenience meat products with improved flavor, quality, and shelf life is driving up demand for bacon. In addition, increased consumption of meat products such as bacon as part of paleo and keto diet regimens among health- and fitness-conscious customers is fueling market expansion. Also, many market leaders are making new versions of their products, like low-calorie and gluten-free bacon, so they can offer more products and stay ahead of the competition.

Foodservice outlets have increased their menu options by offering a wide range of products containing bacon, thereby boosting market growth. The demand for bacon has increased as the demand for meat protein has surged, in addition to the development and growth of meat processing technology. Furthermore, rising demand for foods containing bacon, such as pizza, breakfast sandwiches, appetizers, and hamburgers, has raised market demand for bacon. However, bacon contains a substantial quantity of sodium and fat, which raises the risk of heart disease and high blood pressure, and growing consumer awareness about these factors has been limiting the growth of the bacon market. However, the emergence of new goods such as turkey bacon has opened up new avenues for market expansion.

Bacon Market Trends

Rapid Growth of the Foodservice Industry

The food service market is primarily driven by the increasing frequency of dining out, amidst time-pressed schedules and the growing influence of cross-cultural dietary patterns, due to the strong presence of international companies. Quick-service restaurants are considered fast-food outlets, and they are popular in the United States and Canada, owing to the busy schedules and hectic lifestyles of consumers in those countries. Companies, such as McDonald's and Starbucks Corporation, are also undertaking expansion plans, rolling out innovative menus, and enhancing their portfolios by including more products, such as bacon burgers. This, in turn, increases the demand for bacon. Bacon is also commonly served as a side dish, added as a flavoring agent or accent, and used in a variety of cuisines, including salads, sandwiches, soups, and desserts such as maple bacon ice cream. It comes in a variety of forms, including slabs, standard sliced, thin sliced, thick sliced, ends, and pieces. As a result of its unique, smoky flavor and longer shelf life, bacon is popular among people of all ages.

To cater to the growing demand in the market, the players in the market have been focused on product launches. For instance, in June 2022, Umaro Foods' novel seaweed bacon was launched in several renowned United States restaurants. Umaro Foods is introducing seaweed-based bacon into three US restaurants for the first time, allowing customers to try the brand's novel protein. UMARO bacon will be featured in various specialty dishes at San Francisco's Michelin-starred Sorrel Restaurant, New York City's Egg Shop, and Nashville's D'Andrews Bakery and Cafe. The company intends to expand into more restaurants in the Bay Area, Los Angeles, and elsewhere.

Global Bacon Market: Consumer spending at quick service restaurants (QSRs), in USD billion, in United States, 2018-2021

North America Witnessed Largest Market Share

North America accounts for the lion's share of the global bacon market. Consumers from North America, especially the United States and Canada, have started opting for meat-based breakfast options, including bacon, over other breakfast options, such as pancakes, due to their changing palates and willingness to try new products. Fast-food chains, such as Burger King, Carl's Jr., and McDonald's, have introduced more bacon options in different flavor profiles to their menus in order to improve consumer satisfaction, thereby boosting market sales in the region. Moreover, as the meat sector is a great source of pride and prosperity for many Canadians, the government is taking initiatives to help the producers and processors of bacon become more innovative and competitive in the domestic and international markets, thereby enabling rapid growth of the market in the region.

In recent years, the region has seen a surge in interest in barbecue and port-centric worldwide dishes, which has fueled the emergence of various pork varieties and recipes. Among the pork types are bold, quality bacon such as applewood-smoked bacon, thick-cut bacon, and candied bacon. Bacon manufacturers were able to design new products with a blend of distinct flavors to fulfill the expanding consumer demand due to increased consumption and preference for a range of bacon. For instance, in March 2022, Seaboard Foods, which is based in Merriam, Kan., launched its "top tier" of bacon under its Prairie Fresh USA Prime brand. The bacon brand extension began after the corporation introduced the pork brand.

Global Bacon Market: Market Size, By Region, Global, 2022

Bacon Industry Overview

The global bacon market is highly fragmented and comprises regional and international competitors. The market is dominated by players like Hormel Foods Corporation, Tyson Foods, Inc., The Kraft Heinz Company, and WH Group Limited, among others. The leading players in the bacon market enjoy a dominant presence worldwide. These players focus on leveraging the opportunities posed by emerging markets to expand their product portfolios so that they can cater to the requirements of various segments, such as soup, burgers, sandwiches, etc. In order to gain a competitive advantage, the key players try to differentiate their offerings and compete on different factors, including product offerings, ingredients, price, quality, and marketing activities.

Bacon Market Leaders

  1. Hormel Foods Corporation

  2. Tyson Foods Inc.

  3. The Kraft Heinz Company

  4. WH Group Limited

  5. Fresh Mark Inc.

*Disclaimer: Major Players sorted in no particular order

Bacon Market Concentration
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Bacon Market News

  • August 2022: Hormel Foods planned to deploy a new business model. Hormel Foods Corp. launched a new business strategy with three divisions: retail, food service, and international. The new operating model is intended to support Hormel's strategic priorities, which include expanding its food service leadership, protecting and growing its core brands, accelerating global growth, amplifying its scale in snacking and entertaining, enhancing the growth of its cultural and food-forward portfolios, and transforming the company. Their growth in the food service channel is driven by their portfolio of value-added products and market leadership in the pizza toppings and bacon categories.
  • February 2022: Since customers have become more interested in protein-rich foods in recent years, Tyson worked hard to update its processes. The corporation has pledged to invest USD 1.3 billion in automation over the next three years in order to increase manufacturing capacity and efficiency. In October 2022, Tyson said that the new Kentucky bacon production plant would use "state-of-the-art" robotics and automated technologies.

Bacon Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Standard Bacon

      2. 5.1.2 Ready-to-eat Bacon

    2. 5.2 Distribution Channel

      1. 5.2.1 Foodservice Channel

        1. 5.2.1.1 Full-service Restaurants

        2. 5.2.1.2 Quick-service Restaurants

        3. 5.2.1.3 Cafes and Bars

        4. 5.2.1.4 Other Foodservice Channels

      2. 5.2.2 Retail Channel

        1. 5.2.2.1 Supermarkets/Hypermarkets

        2. 5.2.2.2 Specialty Stores

        3. 5.2.2.3 Online Stores

        4. 5.2.2.4 Other Retail Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Hormel Foods Corporation

      2. 6.3.2 Tyson Foods Inc.

      3. 6.3.3 The Kraft Heinz Company

      4. 6.3.4 WH Group Limited

      5. 6.3.5 JBS SA

      6. 6.3.6 Fresh Mark Inc.

      7. 6.3.7 Maple Leaf Foods

      8. 6.3.8 Seaboard Corporation

      9. 6.3.9 Great British Meat Co.

      10. 6.3.10 Maple Leaf Foods

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. ABOUT US

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Bacon Industry Segmentation

Bacon is a form of pork that is usually created from the side of a pig that has been cured and smoked after the spare ribs have been removed. The global bacon market is segmented by type into standard bacon and ready-to-eat bacon. Based on the distribution channel, the market studied segmented into food service channels and retail. The food service channel is further fragmented into full-service restaurants, quick-service restaurants, cafes and bars, and other food service channels. Retail channels are further classified into supermarkets/hypermarkets, specialty stores, online stores, and other retail channels. The report further analyses the global scenario of the market, which includes a detailed analysis of North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report offers the market size and forecasts of the market in value (USD million) for all the above segments.

Product Type
Standard Bacon
Ready-to-eat Bacon
Distribution Channel
Foodservice Channel
Full-service Restaurants
Quick-service Restaurants
Cafes and Bars
Other Foodservice Channels
Retail Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Stores
Other Retail Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa
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Bacon Market Research FAQs

The Global Bacon Market is projected to register a CAGR of 4.24% during the forecast period (2024-2029)

Hormel Foods Corporation, Tyson Foods Inc., The Kraft Heinz Company, WH Group Limited and Fresh Mark Inc. are the major companies operating in the Global Bacon Market.

South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Bacon Market.

The report covers the Global Bacon Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Bacon Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Bacon Industry Report

Statistics for the 2024 Global Bacon market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Bacon analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Bacon Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)