Global Bacon Market || Tyson Foods, Inc., Hormel Foods Corporation, WH Group Limited, The Kraft Heinz Company, JBS SA, Fresh Mark, Inc.

Bacon is prepared from cuts of meat. The meat is sold cured, fresh, and sometimes smoked. Bacon enhances the flavors of dishes and is wrapped around lean meats to provide moisture while cooking the meat. It is comparatively versatile when it comes to cooking. It is used to get an exquisitely savory and salty taste. The bacon grease is also applicable to cook or fry other dishes. Bacon is often consumed in breakfast and is served with pancakes, eggs, or waffles. Aside from breakfast, bacon is widely used in sandwiches and hamburgers to enhance their flavor. Depending on certain regions, the taste and texture of bacon varies, such as American-style bacon, Canadian bacon, Irish bacon, and many more.

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Increasing consumers demand towards ready-to-eat and ready-to-cook meat products with better quality and taste is driving growth of the global bacon market. In addition, increase in consumer awareness and acceptance, regarding the convenience of meat products, is another important factor boosting growth of the global market. Foodservice outlets have increased their menu options, by offering a wide range of products containing bacon, thereby propelling the global market growth. However, bacon contains a significant amount of fat and sodium, which increases the risk of high blood pressure and heart disease that hampers growth of the global bacon market. Nevertheless, bacon sandwiches are extremely popular amongst youngsters, and this trend creates lucrative opportunities for the global market growth. Sale of bacon sandwiches through retail stores and food outlets has opened new avenues for growth and revenue-generation. This factor has played an integral role in the growth of the global market. Supply chain management and advancements in food processing have helped in procurement of bacon across food units. It is safe to predict that the global bacon market would emerge into a lucrative industry in the coming years. According to data published by IBEF in 2017, India's exports of processed food and related products (including of animal products) grew at a CAGR of 11.74 %, reaching US$ 16.2 billion.

The global bacon market is segmented based on product type, distribution channel, and region.

On the basis of product type, the global market is segmented into standard bacon and ready-to-eat bacon. Based on distribution channel, the global market is bifurcated into foodservice channel and retail channel. The foodservice channel segment is further segmented into full-service restaurants, quick-service restaurants, cafes & bars, and other foodservice channels. The retail channel segment is further segmented into supermarkets/hypermarkets, specialty stores, online stores, and other retail channels.

Based on region the global bacon market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the major share of the global bacon market. This is mainly attributed due to changing consumer preference for meat-based breakfast options, including bacon, over other breakfast options, such as pancakes. Consumers mainly in the United States and Canada are changing palates and willing to try new products. Fast-food chains, such as McDonald’s, Burger King, and Carl's Jr. have introduced more bacon options to their food menus in different flavor profiles, in order to improve consumer satisfaction, thereby driving market sales in the region. Moreover, the meat sector is a great source of prosperity and pride and too many Canadians. The government is undertaking various initiatives to help the processors and producers of bacon to become more innovative and competitive in domestic and world markets. Thus, enabling rapid growth for the global market in the region.

The key players operating the global bacon market involves Tyson Foods, Inc., Hormel Foods Corporation, WH Group Limited, The Kraft Heinz Company, JBS SA, Fresh Mark, Inc., Maple Leaf Foods, Great British Meat Co., Seaboard Corporation, and Maple Leaf Foods. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.

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This release was published on openPR.