Global Bacon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Bacon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global bacon market is projected to register a CAGR of 4.24% during the forecast period, 2020-2025.

Key Highlights

• Consumers are increasingly demanding ready-to-eat and ready-to-cook meat products with better taste and quality. The increase in consumer awareness and acceptance regarding the convenience of meat products are among the important factors driving the growth of the market studied.
• Foodservice outlets have increased their menu options, by offering a wide range of products containing bacon, thereby, boosting the market growth.

Key Market TrendsRapid Growth of the Foodservice Industry

The foodservice market is primarily driven by the increasing frequency of dining out, amidst time-pressed schedules and the growing influence of cross-culture dietary patterns, due to the strong presence of international companies. Quick-service restaurants are considered as fast-food outlets, and they are popular in the United States and Canada, owing to the busy schedule and hectic lifestyle of consumers in the country. 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.

North America Witnessed Largest Market Share

North America holds the major 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 the 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 food 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 to many Canadians, the government is taking initiatives to help the producers and processors of bacon become more innovative and competitive in the domestic and the international markets, thereby, enabling rapid growth of the market in the region.

Competitive Landscape

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, 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 portfolio, so that they can cater to the requirements for various segments, such as soup, burger, sandwich, etc. In order to gain competitive advantage, the key players try to differentiate their offerings and compete on different factors, including product offerings, ingredients, price, quality, and marketing activities.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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