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

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

The United States bacon market is projected to register a CAGR of 3.61% during the forecast period, 2020-2025.

Key Highlights

• The bacon market in the country is majorly driven by the incresaed consumer inclination towards out of home consumption, who are actively seeking 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 country.
• Patrick Cudahy brand of The Kraft Heinz Company introduced all-natural uncured black forest thick-cut bacon, which is a new, premium addition to its line of smoked meats with a focus on the new generation of food enthusiasts. These products are natural and gluten-free with no added nitrates and no artificial ingredients.
• Companies are also investing in R&D facilities to develop products according to various preferences of consumers, such as non-GMO, gluten free, no sugar, etc., to achieve a competitive advantage in the market.
• Thus, sustainable competitive advantage through innovation is the main criteria for the growth of the market share of major players in the country.

Key Market TrendsIncreasing Preference for Bacon in Breakfast Options

A significant portion of the population in the United States consumes bacon in breakfast, paving the way for more foodservice outlets to introduce bacon-based breakfasts. The consumers have also started opting for breakfast from foodservice outlets, such as quick-service restaurants (QSRs) to eat on-the-go. This factor paves the 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 cater to consumers’ demand. Thus, the increasing demand for breakfast food involving bacon in countries, like the United States, as well as the emergence of foodservice channels offering a wide range of meat-based breakfast options, including bacon and ham, are the factors that are expected to enable the market studied to witness a rapid growth during the forecast period.

Rapid 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-cultural 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. It was estimated that there were 194,723 quick-service restaurant franchise establishments in 2018. The ease of food consumption in these restaurants has lead people in the United States to spend in these restaurants. This factor is driving the country's foodservice market. Thus the growth of the foodservice industry and consumer's strong prefernce for bacon is yet another factor driving the market studied in the country.

Competitive Landscape

The United States bacon market is highly fragmented and comprises of regional and international competitors. The market is dominated by players, like Hormel Foods Corporation, Tyson Foods Inc., The Kraft Heinz Company, WH Group Limited, etc. The country also has a presence of regional players, such as Fresh Mark Inc., Sugar Creek Packing Co., John F. Martin & Sons, LLC., etc. Major players are focusing extensively on providing consumers with innovative and exotic flavors while including additional benefits in each of the products.

Additional Benefits:

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

Companies Mentioned
 
Hormel Foods Corporation
WH Group Limited
Maple Leaf Foods INC
Tyson Foods Inc.
The Kraft Heinz Company
Seaboard Corporation
Hills Meat Company
Fresh Mark Inc.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.