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

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

The North American bacon market is projected to register a CAGR of 3.90% 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, is an important factor driving the growth of the market studied.​
• As consumers under all age groups in the region are seeking convenient ordering options, many food retailers, such as McDonalds, are focusing on adopting kiosks, so that the customers can customize their orders as well can save their time by avoiding standing in queue for placing order.​
• Moreover, the out-home consumption through various foodservice channels, such as quick-service restaurants, increased in the past couple of years. This led to the foodservice operators opting for various marketing strategies to broaden their consumer base and consolidate their business in the country. ​
• According to World Atlas Article published in 2018, the pork consumption remained relatively constant, primarily due to the growing demand for meat substitutes, such as plant-based vegan food items, in the region.

Key Market TrendsIncreasing Preference for Bacon as Breakfast Option

Consumers in the region 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.​ A significant percentage of the population in North America consumes bacon during breakfast time, paving the way for more foodservice outlets to introduce bacon-based breakfasts.​ Globally, consumers have also started opting for breakfast from foodservice outlets, such as quick-service restaurants (QSRs), to eat on-the-go, thus, paving way for the outlets to include more bacon-based breakfast options.​ 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.​ With breakfast appearing on more menus across restaurants, the foodservice outlets are incorporating more items, such as bacon, and creating meals in different flavor profiles, such as maple bacon, to satisfy the breakfast cravings of consumers who are willing to try new products. This, in turn, may help the outlets to expand their customer bases, with dynamic product offerings. ​

Standard Bacon Dominated the Sales in North America

The region witnessed an increased interest in barbecue and port-centric global dishes, which fueled the growth for several pork varieties and dishes in the past few years. The various pork varieties include bold, premium bacon varieties, such as apple wood smoked bacon, thick-cut bacon, and candied bacon. ​The increasing consumption and preference for a variety of bacon enabled the manufacturers of bacon to develop new products with the blend of various flavors to meet the growing consumers demand. ​For instance, in 2018, Tender Belly introduced two new bacon flavors, namely java blend and sugar-free. The java blend features heritage breed natural pork that is dry cured. The java blend includes a bit of coffee to enhance the flavor. Additionally, manufacturers are also focusing on adopting various processes to develop new bacon products with added taste and flavors.

Competitive Landscape

The leading players in the bacon market enjoy a dominant presence in the region. These players focus to leverage opportunities posed by untapped markets to expand their product portfolio, so that they can cater to the requirements of various segments, such as soup, burger, and sandwich.​ Furthermore, global players are increasing their investments to expand their footprint, in order to leverage opportunities in the North American bacon market.​ Key players, such as The Kraft Heinz Company, are focusing on the social media platform and online distribution channels for their online marketing and branding of their products to attract more customers.​

Additional Benefits:

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

Companies Mentioned
 
Teva Pharmaceuticals
Pfizer
GlaxoSmithKline
Alliance Pharma
Piramal Healthcare UK Limited

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