Report Overview

A rising demand for various meat types, growing consumer awareness about convenience foods, innovative bacon types, and a strong presence of major food companies across the region are expected to drive North America Bacon Market during the forecast period between 2024 and 2030.

North America Bacon Market – Industry Trends & Forecast Report, 2030

North America Bacon Market size was estimated at USD 12.63 billion in 2023. During the forecast period between 2024 and 2030, North America Bacon Market size is projected to grow at a CAGR of 3.3% reaching a value of USD 15.72 billion by 2030. Prominent drivers of the market include the rising consumer demand for convenient, high-quality, ready-to-eat, and ready-to-cook meat products. As consumers increasingly seek easy-ordering solutions, many food retailers, including McDonald’s, have implemented kiosks for order customization and efficiency. Bacon's popularity as a topping for pizzas, breakfast sandwiches, appetizers, and burgers further fuels demand, alongside a rise in out-of-home dining through quick-service restaurants that leverage various marketing strategies to broaden their customer base. Additionally, shifting dietary preferences toward meat-based breakfasts over traditional options and busy lifestyles favoring on-the-go items contribute to bacon's growth. However, awareness of bacon’s high sodium and fat content, associated with health risks like heart disease and hypertension, could temper growth as consumers become more health conscious.

Bacon – Overview

Bacon's global popularity is fueled by its smoky flavor, extended shelf life, and rising demand for meat protein. Evolving eating habits make bacon a breakfast staple in many countries, often enjoyed with items like waffles, pancakes, and eggs. With consumers’ busy lifestyles favoring quick, on-the-go breakfast options, the demand for bacon continues to grow. To meet this need, producers are introducing innovative bacon products.

North America Bacon Market

Growth Drivers

Innovations in Bacon Types

Innovations in bacon types continues to drive growth in the North America Bacon Market, fueled by evolving consumer tastes and preferences. Premium traditional bacon, with options like applewood smoked and thick-cut varieties, remains popular, as thicker cuts enhance the bacon's flavor and quality perception. The market is also seeing significant demand for plant-based bacon, which appeals to flexitarian consumers interested in alternative protein options with similar savory and smoky flavors. Meanwhile, clean label bacon is gaining traction as consumers seek minimally processed products free from additives such as nitrates, MSG, and artificial preservatives. Foodservice and retail sectors are capitalizing on these trends with unique bacon applications, such as sweet-and-savory pairings in milkshakes and desserts, and innovative bacon-topped breakfast and chicken sandwiches, ensuring that bacon’s versatility meets diverse consumer preferences across various menu options.

Challenges

Rising Costs of Pork

Rising pork costs are a significant factor restraining growth in the North America Bacon Market. Increased feed prices, supply chain disruptions, and inflation have led to higher production costs, pushing up pork prices. These rising costs are passed down to consumers, impacting demand as bacon becomes less affordable for many. Additionally, price-sensitive consumers may seek alternatives or limit bacon purchases, further dampening market growth. This challenge pressures bacon producers to explore cost-cutting measures or alternative ingredients to maintain profitability while attempting to meet consumer demand in a competitive, cost-sensitive market.

Impact of Escalating Geopolitical Tensions on North America Bacon Market

Escalating geopolitical tensions among countries across regions could have a significant impact on the growth of North America Bacon Market. Trade restrictions and tariffs on pork imports disrupt the supply chain, raising production costs for bacon manufacturers and limiting access to essential resources. Additionally, geopolitical instability often results in currency fluctuations, which can further drive up prices of imported pork and other raw materials. Supply chain disruptions affect inventory and availability, leading to price increases that dampen consumer demand. Rising transportation costs due to strained global relations also add to the cost burden on bacon producers. These factors combined could lead to slowed market growth as consumers face higher prices, and manufacturers are forced to balance costs while maintaining demand.

North America Bacon Market

Segmental Coverage

North America Bacon Market – By Type

By type, North America Bacon Market is bifurcated into Regular Bacon and Cooked Bacon segments. The regular bacon segment hold a higher share in North America Bacon Market by type. The versatility of regular bacon has significantly contributed to its popularity in the kitchen. Chefs and culinary enthusiasts frequently explore innovative ways to incorporate bacon into diverse dishes, broadening its appeal beyond conventional applications. Additionally, regular bacon offers consumers the opportunity to customize its preparation, allowing them to achieve their desired level of doneness and crispness. This ability to tailor bacon to individual tastes has further fueled its demand among consumers.

North America Bacon Market – By Source

By source, North America Bacon Market is divided into Pork, Beef, Turkey, Chicken, and other segments. The pork segment holds the largest share of North America Bacon Market by source. Pork bacon plays a significant role in the growth of the bacon market, particularly in North America, where there is a rising demand for various flavored bacon options. The higher fat content and rich smoky flavor of pork bacon, including varieties like apple-smoked and peppered bacon, contribute to its appeal. As consumers increasingly seek out flavored pork products, this trend is driving the expansion of the pork bacon market across the region.

North America Bacon Market – By Nature

By nature, North America Bacon Market is split into Organic Bacon and Conventional Bacon segments. The organic segment is expected to hold a higher share in North America Bacon Market by nature during the forecast period. Organic bacon is perceived as a healthier option due to its higher levels of nutritional compounds, leading to increased consumer demand. Being uncured and free from nitrites and nitrates further enhances its appeal. Consequently, health-conscious consumers in North America favor organic bacon for its nutritional advantages.

North America Bacon Market – By Distribution Channel

By distribution channel, North America Bacon Market is divided into Supermarkets & Hypermarkets, Food Service, Independent Retailers, and Online Stores segments. The online stores segment holds the highest share in North America Bacon Market and is expected to maintain its dominance by distribution channel during the forecast period. Recent years have seen a growing interest in barbecue and pork-centric dishes, leading to an increased demand for diverse bacon varieties, including premium options like applewood smoked, thick-cut, and candied bacon. This consumer preference has prompted manufacturers to innovate and create new bacon products with various flavors. The shift towards fresh food consumption also supports this trend, with a McKinsey survey indicating that over 67% of United States consumers purchased fresh meats online in 2021. The young population, coupled with busy lifestyles and the rise of online grocery shopping, has further fueled market growth. Online food delivery services are also exploring innovative delivery methods, such as drones and robots, which contribute to the segment's expansion.

North America Bacon Market – By Country

Geographically, North America Bacon Market is bifurcated into United States and Canada. United States holds a higher share and is expected to maintain its dominance during the forecast period, driven by an increasing demand for meat protein, advancements in meat processing technology, and the popularity of bacon-centric dishes like breakfast sandwiches, pizza, and hamburgers. Furthermore, the emergence of alternative bacon products, such as turkey and chicken bacon, is expected to create new growth opportunities for key market players.

Competitive Landscape

Major players operating in North America Bacon Market include Tyson Foods, Hormel Foods Corporation, JBS SA, Kraft Heinz Company, Fresh Mark Inc., Sugar Creek Packing Co., Maple Leaf Foods, John F. Martin & Sons LLC, and Seaboard Foods. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Development

• In 2023 - Greenfield Natural Meat Co., a sustainable meat brand from Maple Leaf Foods, began offering a "Bacon Rebate" that rewards consumers for choosing eco-friendly bacon. By purchasing Greenfield bacon, customers can claim a USD 2 rebate via Venmo by texting a receipt photo.

Scope of the Report

By Type

• Regular Bacon

• Cooked Bacon

By Source

• Pork

• Beef

• Turkey

• Chicken

• Others

By Nature

• Organic Bacon

• Conventional Bacon

By Distribution Channel

• Supermarkets & Hypermarkets

• Food Service

• Independent Retailers

• Online Stores

By Country

• United States

• Canada