The global Bacon Market Growth Accelerated by Increasing Demand for Nutritious Meat Products

 


Bacon refers to cured pork bellies that are used as a popular ingredient in several dishes. The rising preference for nutritious meat products high in protein among health-conscious consumers has significantly driven the demand for bacon in recent years. Bacon provides several health benefits such as improving heart health, managing weight, and boosting cognitive functions. Moreover, the versatility of bacon as an ingredient allows its usage in myriad cuisines and dishes across the globe.

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:

The increasing demand for nutritious meat products has been a key factor accelerating the growth of the bacon market over the past decade. Manufacturers are launching new product varieties incorporating natural preservatives and ingredients to meet the rising demand for healthy bacon options. Furthermore, advancements in processing technologies have enabled producing bacon with minimal amounts of sodium and other unhealthy contents. Innovations such as the introduction of organic, natural, gluten-free, and non-GMO varieties of bacon have widened the consumer base significantly. Novel alternatives of plant-based and vegan bacon prepared from non-meat ingredients are also gaining notable traction among the health-conscious population.

Segment Analysis

The Global Bacon Market Size is dominated by the cured and uncured sub-segment in 2023. Cured bacon accounted for around 60% share of the total market owing to consumer preference for flavorful and long-lasting bacon. The curing process improves the shelf life of bacon without using preservatives and adds characteristic smoke flavor that is widely popular among consumers.

Key Takeaways

The global bacon market is expected to witness high growth over the forecast period. Growth in demand for convenient and nutritious food products and rising popularity of bacon as a flavoring ingredient in burgers, sandwiches, and pizza is fueling the market expansion. 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

North America held the largest share of the bacon market in 2023 owing to rising consumption of bacon as a snack and ingredient in various dishes. The United States accounted for over 65% of the regional market size. Meanwhile, Asia Pacific is poised to depict the fastest growth through 2030 on account of growing adoption of Western food habits and increasing popularity of bacon as a fast food condiment in countries like China and India.

Key players
Key players operating in the bacon market are BBI-Biotech GmbH Bioengineering, Danaher Corporation, Eppendorf AG, Getinge, Infors HT, Merck KGaA, Sartorius AG, Solaris Biotech Solutions, and Thermo Fisher Scientific, Inc. BBI-Biotech GmbH Bioengineering and Danaher Corporation collectively held over 20% share of the global market in 2023 attributed to their wide product portfolios and geographical outreach.

Get More Insights On This Topic: https://www.newsstatix.com/bacon-market-size-share-analysis-2023-2030/

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