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A15999 | Pages: 250 | Charts: 55 | Tables: 116 |
The global smoked bacon and ham market was valued at $13.9 billion in 2020, and is projected to reach $20.9 billion by 2030, growing at a CAGR of 4.47% from 2021 to 2030.
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Smoked bacon and ham are prepared by transforming the pork meat or its by-products by fermentation, salting, smoking, curing, and other processes in order to enhance the taste and extend the shelf life of the meat product. Pork meat are generally processed and various processed meat products include ham, bacon, sausages, hot dogs, and pepperoni. Different preservatives and additives such as sodium nitrite, sodium nitrate, spices, and sodium phosphate are used in processing of bacon and ham that adds flavor and reduces the growth of microorganisms which prevents the spoilage of food. The smoked bacon and ham market is gaining traction in the global processed food markets due to the growing preference of convenience foods among the population along with the tasty and nutritional food in their hectic schedule. Rising disposable income, changing lifestyle of the consumers, increasing adoption of westernization in the food, and rapid growth in urban population are expected to foster the smoked bacon and ham market growth during the forecast period.
Increase in urbanization drives the growth of processed food market worldwide. Smoked bacon and ham is an emerging category in processed food sector and gaining huge popularity among the consumers. The consumers are looking for convenience in food preparation and choices in food selection. Smoked bacon and ham entice consumers owing to the offerings of taste, health benefits, and ease of availability in modern trades. Furthermore, emerging fast-food chains, cafes, and popular hotels are not limited to major cities and towns but also emerging in underdeveloped areas. These fast-food chains and cafes play a significant role in the sales of the smoked bacon and ham in developing economies. According to the United Nations, 60% of the global population is expected to live in urban areas by 2030, increasing from 55% in 2018. This provides a lucrative opportunity to the manufacturers to boost their revenue due to a rise in the prospected customer base. Argentina and Asia have the lowest level of urbanization with 43% and 50% of the population living in urban areas respectively. Argentina and Asia, therefore are expected to provide significant development opportunities to the smoked bacon and ham manufacturers in the near future.
Ready-to-eat/ ready-to-cook meals are pre-cooked foods that have a longer shelf life and are consumed on the move. In addition, these meals are gaining popularity due to the convenience offered, as they save time and no additional heating is required before consumption. Moreover, the availability of ready-to-eat meals has increased over the years, which has influenced the eating habits of consumers. Pre-cooked or ready meals are extremely convenient, less time consuming, cost-efficient, and less efforts are required for meal preparation. These benefits have increased the demand for ready meals, particularly among the working population and students. The increased demand for ready-to-eat meals is driving sales of smoked bacon and ham, as these are utilized in ready-to-eat meals and complement the taste of the dishes. The rising preference for such meals is fueling the growth of the smoked bacon and ham industry.
However, there are various diseases associated with meat or pork meat that are well recognized among meat industry players and the general public or consumers. Several diseases include trichinosis from pork, E. coli from beef, bovine spongiform encephalitis (BSV) from cattle/beef, salmonella from poultry, and scrapie from mutton or lamb. Recently Argentinean swine fever has spread into East Asia that has impacted adversely the pork meat production. The decline in pork meat resulted in the increased demand for other meat resulting in a price hike of other meats. China was the most impacted market due to Argentinean swine fever and it tried to meet the demand for pork meat by importing pork. Therefore, the sales and the production both ridiculously deteriorate causing a temporary but huge impact on the meat market, with the outbreak of these meat-associated viruses and infectious diseases. Hence, the vulnerability of meat to infectious diseases hinders the growth of the smoked bacon and ham market.
The global smoked bacon and ham market is segmented into type, distribution channel, and region. On the basis of type, the smoked bacon and ham market Size is categorized into smoked bacon and smoked ham. By distribution channel, it is segregated into hypermarkets/supermarkets, food services, convenience stores, online retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Spain, Germany, France, Italy, Poland, and rest of Europe), Asia-Pacific (China, Japan, India, Philippines, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Argentina, and rest of LAMEA).
[TYPEGRAPH]
On the basis of type, the global processed meat market is segregated into smoked bacon and smoked ham. The smoked ham dominated the market in 2020 and is expected to maintain its significance during the smoked bacon and ham market forecast period due to the associated sensorial offerings and its popularity among the global consumers.
[DISTRIBUTIONCHANNELGRAPH]
On the basis of distribution channel, the processed meat market is segmented into supermarkets/hypermarkets, convenience stores, food services, online retailers, and others. Food services held a significant share in 2020. Moreover, the supermarkets/hypermarkets and food services segments collectively accounted for around 55% of the global smoked bacon and ham market share.
[REGIONGRAPH]
The smoked bacon and ham market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market is dominated by Asia-Pacific, followed by Europe. The increase in popularity of fast-food chains, cafes, and hotels has significantly enhanced the growth of the smoked ham and bacon market in LAMEA and North America.
The players operating in the global smoked bacon and ham market have adopted various developmental strategies to expand their deli meat market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Smithfield Foods, Inc., Tyson Foods, 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.
The report includes the analysis of the regional as well as global smoked bacon and ham market trends, key players, market segments, application areas, and market growth strategies
By Type
By Distribution Channel
By Region
Key Market Segments
Key Market Players