Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Bacon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The report delivers a comprehensive analysis of the burgeoning global bacon market, which stood at US$ 68.5 Billion in 2022. The market is forecasted to ascend to a value of US$ 86.6 Billion by 2028, displaying a Compound Annual Growth Rate (CAGR) of 3.6% during the 2023-2028 period.
Market Trends Fueling Growth:
A surge in the demand for ready-to-eat (RTE) and ready-to-cook (RTC) foods, driven by an expanding working populace, hectic lifestyles, and evolving dietary habits, is at the forefront of propelling the market growth. Besides, a heightened consumer awareness and acceptance of convenience meat products with improved taste, quality, and shelf life are bolstering the appeal for bacon.
The report also sheds light on the growing variety of bacon offerings by various foodservice outlets aiming to diversify their menu and attract a broader consumer base. Health and fitness-conscious consumers following paleo and keto diet plans are contributing to the rising consumption of meat products like bacon.
Leading market players are introducing innovative bacon variants like low-calorie and gluten-free options to stay competitive and meet the diverse consumer demands. They are also investing heavily in attractive and sustainable packaging solutions, responding to escalating environmental concerns among consumers. Other factors, such as increasing demand for meat protein, shifting preferences towards healthy and nutritious food items, rising consumer expenditure capacities, and the influence of cross-culture dietary patterns, are creating a positive outlook for the market.
Key Market Segmentation:
The report provides a meticulous analysis of key trends across various market sub-segments, offering forecasts on a global, regional, and country level from 2023-2028. The market has been categorized based on type, product type, source, nature, and distribution channel, covering segments like dry cured, immersion cured, pumped bacon, standard bacon, ready-to-eat bacon, and more. The analysis also extends to the source of bacon, covering pork, beef, turkey, and chicken, and the nature of the product, whether organic or conventional.
Competitive Landscape:
The competitive landscape section elucidates the market scenario, profiling key players like Foster Farms, Fresh Mark Inc., Great British Meat Company, Hormel Foods Corporation, Karro Foods Group Limited, Maple Leaf Foods Inc., OSI Group, Seaboard Corporation, Smithfield Foods Inc. (WH Group Limited), The Kraft Heinz Company, True Story Foods, and Tyson Foods Inc. These profiles provide a glance into the strategies adopted by these market leaders to maintain a competitive edge.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $68.5 Billion |
| Forecasted Market Value (USD) by 2028 | $86.6 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
The report is an invaluable resource for stakeholders, providing insights into market drivers, trends, and forecasts, aiding in devising informed strategies. For a deeper understanding of the global bacon market and its dynamics, visit https://www.researchandmarkets.com/r/xy9f8i
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