Wilmington, Delaware, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Global Smoked Bacon Market was valued at US$ 24.5 billion in 2022, and the market is forecasted to hit revenues of US$ 36.4 billion by 2028 growing at a CAGR of 6.8% over the forecast period of 2023-2028, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Smoked bacon is a popular type of bacon that has been cured and flavored by smoking. It's usually cooked using pork belly, although other types of pig, such as loin or shoulder, can be used as well. Smoked bacon is a versatile ingredient in cooking, adding a smoky, salty, and savory flavor to a wide variety of dishes. It can be fried, baked, grilled, or used as a flavoring agent in soups, stews, and casseroles.
- According to a deep-dive market assessment by RationalStat, the global smoked bacon market has been analyzed on the basis of market segments, including on product type, distribution channel, end users and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
- Market intelligence for the global smoked bacon market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global smoked bacon market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Smoked Bacon Market: Segmental and Market Share Analysis
- On the basis of product type, regular smoked bacon segment is expected to dominate the market. It is versatile and widely used in various recipes, making it a popular choice for household consumers.
- On the basis of distribution channel, supermarkets segment accounted for around 45% of the global smoked bacon market share. The majority of smoked bacon sales typically occur through grocery stores and supermarkets due to their widespread accessibility.
- On the basis of end users, bacon is a household staple, particularly in North America and Europe, where it is used in breakfast meals, sandwiches, and a variety of cuisines.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2028 |
| Base Year Market Size | US$ 24.5 billion |
| Market Size Forecast | US$ 36.4 billion |
| Growth Rate | 6.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global smoked bacon market include,
- In August 2022, Hormel Foods planned to deploy a new business model. Hormel Foods Corp. launched a new business strategy with three divisions: retail, food service, and international.
- In February 2022, Since, customers have become more interested in protein-rich foods in recent years, Tyson worked hard to update its processes. The corporation has pledged to invest USD 1.3 billion in automation over the next three years in order to increase manufacturing capacity and efficiency.
Some of the prominent players and suppliers operating and contributing significantly to the global smoked bacon market growth include Smithfield Foods, Inc., Tyson Foods, Inc., Hormel Foods Corporation, Pestells Rai Bacon Company, Cornish Farmhouse Bacon Co Ltd, Boks Bacon, Holly Bacon, Sunnyvalley Smoked Meats, JBS USA, and Hill Meat Company, among others.
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RationalStat has segmented the global smoked bacon market based on product type, distribution channel, end users and region
- Global Smoked Bacon Market Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by Product Type
- Regular Smoked Bacon
- Thick-Cut Smoked Bacon
- Flavored Smoked Bacon
- Organic & Natural Smoked Bacon
- Global Smoked Bacon Market Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by Distribution Channel
- Supermarkets
- Specialty Stores
- Online Retailers
- Global Smoked Bacon Market Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by End Users
- Household
- Foodservice Industry
- Global Smoked Bacon Market Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by Region
- North America Smoked BaconMarket
- US
- Canada
- Latin America Smoked BaconMarket
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Smoked BaconMarket
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Smoked BaconMarket
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Smoked BaconMarket
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Smoked BaconMarket
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Smoked BaconMarket
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Key Questions Answered in the Smoked Bacon Report:
- What will be the market value of the global smoked bacon market by 2028?
- What is the market size of the global smoked bacon market?
- What are the market drivers of the global smoked bacon market?
- What are the key trends in the global smoked bacon market?
- Which is the leading region in the global smoked bacon market?
- What are the major companies operating in the global smoked bacon market?
- What are the market shares by key segments in the global smoked bacon market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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