Bacon is a highly flavorful meat that is produced from pork. It is rich in protein and contains essential micronutrients. Increasing health consciousness regarding animal proteins due to fat and cholesterol has propelled demand for plant-based and blended alternatives.
The global Bacon Market is estimated to be valued at US$ 24937.01 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Changing consumer preferences towards healthier food choices high in protein but low in fat and cholesterol is a major trend driving growth of the Global Bacon Market Size. Manufacturers are innovating new plant-based and blended bacon products made with high protein plant ingredients like soy, pea and wheat to cater to health-conscious consumers. For example, ‘facon’, a blended bacon made of half pork and half plants is gaining popularity as it offers a balance of taste and nutrition. Such blended and plant-based bacon products are expected to grow substantially and capture a major market share over the forecast period.
SWOT Analysis
Strength: Bacon has consistently high demand due to its taste and popularity in many cuisines. It is packed with protein and other nutrients.
Weakness: Potential health risks from processed or heavily smoked bacon due to high saturated fat and sodium content. Some perceive it as an unhealthy meat.
Opportunity: Growth of plant-based meat alternatives opens opportunities for vegetable-based bacon products. Increased awareness of healthy eating drives demand for lower-fat bacon options.
Threats: Stricter environmental and animal welfare regulations can increase production costs. Volatile pork prices also impact the bacon market.
Key Takeaways
The global bacon market is expected to witness high growth over the forecast period of 2023 to 2030. The global Bacon Market is estimated to be valued at US$ 24937.01 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis comprises North America is expected to dominate the global bacon market over the forecast period. The US alone accounts for over 30% of the global bacon consumption. Growth in Europe is forecast to be driven by rising popularity of smoked bacon products in countries such as the UK, Germany and France.
Key players operating in the bacon market are BBI-Biotech GmbH Bioengineering AG, Danaher Corporation, Eppendorf AG, Getinge, Infors HT, Merck KGaA, Sartorius AG, Solaris Biotech Solutions, Thermo Fisher Scientific, Inc. Key players are focusing on product innovation such as lower-fat versions along with production expansion to meet the growing demand for bacon products globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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