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The global Bacon Market Growth Accelerated by Increasing Health Conscious Population

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Ishika cmi
The global Bacon Market Growth Accelerated by Increasing Health Conscious Population

Bacon, as a delicious ingredient, is very versatile and is a good source of protein, vitamins, minerals, and fatty acids. It is used in many cuisines and cooking styles around the world. However, some health risks are associated with high consumption of processed bacon due to high sodium and saturated fat content. This has led to an increased demand for healthier bacon products with lower fat and sodium content.

The global Bacon Market is estimated to be valued at US$ 28727.44 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing health conscious population is one of the key trends driving growth of the bacon market size. With rising awareness about risks of excessive consumption of processed meats, consumers are demanding healthier bacon options. This has prompted bacon manufacturers to introduce various low-fat, low-sodium, and nitrate-free bacon varieties. For example, in 2020, Oscar Mayer, a leading bacon brand, launched a line of pre-cooked turkey bacon made with no artificial ingredients. Similarly, Applegate, another major player, offers uncured and organic bacon options with 50% less sodium and 30% fewer calories. Besides, launches of plant-based vegan bacon alternatives by startups like Upton’s Naturals and The Crazy Vegan is also widening options for health-conscious consumers. Such product innovations are helping accelerate market growth over the forecast period.


Segment Analysis

The bacon market is segmented on the basis of bacon strips, diced bacon, cooked bacon, and prepackaged bacon. Among these, the prepackaged bacon segment dominates the global market and accounts for over 35% of overall sales. Prepackaged bacon strips are precooked and packaged in air-tight packs, which makes them very convenient to use for sandwiches, salads, and snacks. Their long shelf life and ease of use has resulted in their wide popularity globally.

Key Takeaways

The global bacon market is expected to witness high growth over the forecast period of 2024 to 2031. Increased snacking habits across both developed and developing nations are driving the demand for convenient bacon strips and prepackaged bacon products. The global Bacon Market is estimated to be valued at US$ 28727.44 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2031.

Regional analysis:

North America dominates the global bacon market accounting for over 40% of sales. The United States is the largest consumer of bacon globally. However, the Asia Pacific region is expected to witness the fastest growth over the coming years. Rising western influences and growth in organized retail are increasing bacon consumption in countries such as China, India and Japan.

Key players:

Key players operating in the bacon market include Johnson & Johnson, Pfizer Inc., Eli Lilly and Company, and GlaxoSmithKline plc. Johnson & Johnson is a leading player in the global bacon market and is the largest seller of prepackaged bacon strips in the United States. Pfizer Inc. has a strong portfolio of precooked bacon strips sold under its flagship brand name.

Explore Our More Blogs Here: https://www.newsstatix.com/bacon-market-share-and-opportunity-analysis/

 

Explore more trending articles on Geotextile Market: https://www.coherentmarketinsights.com/market-insight/geotextile-market-303

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