Smoked Bacon and Ham Market to Reach $20.9 Bn, Globally, by 2030 at 4.47% CAGR: Allied Market Research

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May 17, 2022, 09:10 ET

Increase in urbanization, rise in popularity among the consumers, and surge in fast-food chains, cafes, and popular hotels drive the growth of the global smoked bacon and ham market

PORTLAND, Ore., May 17, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Smoked Bacon and Ham Market by Type (Smoked Bacon, Smoked Ham), by Distribution Channel (Supermarkets/Hypermarkets, Convenience stores, Food Services, Online Retailers, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global smoked bacon and ham industry generated $13.9 billion in 2020, and is anticipated to generate $20.9 billion by 2030, witnessing a CAGR of 4.47% from 2021 to 2030.

Prime determinants of growth

Increase in urbanization, rise in popularity among the consumers, and surge in fast-food chains, cafes, and popular hotels drive the growth of the global smoked bacon and ham market. However, vulnerability of meat to infectious diseases hinders the market growth. On the other hand, rise in preference for ready-to-eat meals presents new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global smoked bacon and ham market, owing to temporary closure of fast-food chains, cafes, restaurants, and hotels.
Manufacturers faced a lot of difficulties due to disruptions in the supply chain.
Also, shortage in sourcing of raw pork for processing of smokes ham and bacon hampered the market growth during the pandemic.

The smoked ham segment to maintain its leadership status throughout the forecast period

Based on type, the smoked ham segment held the highest market share in 2020, accounting for nearly three-fifths of the global smoked bacon and ham market, and is estimated to maintain its leadership status throughout the forecast period. This is due to the associated sensorial offerings and its popularity among the global consumers. However, the smoked bacon segment is projected to manifest the highest CAGR of 4.7% from 2021 to 2030, owing to the easy availability and rise in demand of smoked pork and poultry products among the consumers.

The Supermarkets/Hypermarkets segment to maintain its lead position during the forecast period

Based on distribution channel, the supermarkets/hypermarkets segment accounted for the largest share in 2020, contributing to nearly one-third of the global smoked bacon and ham market, and is projected to maintain its lead position during the forecast period. This is due to the offerings of convenience to consumers under a single roof. However, the online retailers segment is expected to portray the largest CAGR of 5.1% from 2021 to 2030, owing to the increased usage of mobile internet and preferences toward rapid delivery of food products among consumers.

Asia-Pacific, followed by Europe & North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global smoked bacon and ham market. Moreover, the same region is expected to witness the fastest CAGR of 5.0% during the forecast period, due to the well-established infrastructure and advanced technologies adopted by the food manufacturers in the region.

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Leading Market Players

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
Hill Meat Company

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