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North America Bacon Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Nature, Source, Type, and Distribution Channel, and Country

North America Bacon Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Nature, Source, Type, and Distribution Channel, and Country

  • October 2020
  • 122 pages
  • ID: 5989568
  • Format: PDF
  • The Insight Partners
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The North America bacon market was valued at US$ 9,501.35 million in 2018 and is projected to reach US$ 14,041.62 million by 2027; it is expected to grow at a CAGR of 4.4% from 2019 to 2027.

Bacon is a versatile ingredient in cooking and its use enhances the flavors of dishes.Owing to the continuous developments in meat processing technologies and increasing demand for meat protein, the bacon market in North America experiences tremendous growth.

The upsurge in demand for pizza, sandwiches, and hamburgers also bolsters the bacon market growth.However, bacon contains some amount of fats and sodium that increases the risk of heart diseases and blood pressure, in turn, restricting the demand for bacon.

The increasing number of developments in new products, such as turkey bacon, is expected to provide lucrative opportunities for the bacon market in the coming years.

Based on source, the bacon market is further segmented into pork, beef, turkey, and chicken.In 2018, the pork segment accounted for the largest share of the North America bacon market; however, the turkey segment is expected to register the fastest CAGR during the forecast period.

Pork bacon is one of the major contributing sources for the expansion of the bacon market.North America experiences increasing demand for a variety of flavored bacon products.

The pork bacon carries a higher fat content and intense smoky flavor; for instance, apple-smoked or peppered flavored pork bacon products are available in the market. Therefore, the increasing demand for flavored pork meat products drives the growth of the pork bacon market in North America.

The North America bacon market is segmented into the US, Canada, and Mexico.In 2018, the US held the largest share of the market, followed by Canada.

The growth of the bacon market in this country attributes to the increasing demand for meat protein coupled with the rapid developments in meat processing technology. Additionally, the surging demand for convenience food products—such as breakfast sandwiches, pizza, hamburgers, and appetizers, where bacon is used as a key ingredient—bolsters the growth of the bacon market in the US.

Impact of COVID-19 Pandemic on North America Bacon Market
The COVID-19 outbreak began in Wuhan (China) in December 2019 and since then, it spread across the world at a rapid pace, affecting the economies and industries in many countries due to lockdowns, travel bans, and business shutdowns.In North America, food & beverages is one of the major industries suffering serious consequences of this pandemic owing to the factors such as disruptions in the supply chain, cancellations of technology events, and office shutdowns.

The overall market breakdown due to the COVID-19 crisis is also affecting the growth of the bacon market in North America.

Applegate Farms, LLC; Farmland Industries, Inc.; Foster Farms, Inc.; Hormel Foods Corporation; JBS S.A.; Organic Prairie; OSI Group; Smithfield Foods, Inc.; and True Story Foods are among the major players operating in the North America bacon market.

The North America bacon market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the bacon market.

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