Vegan Bacon Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Vegan Bacon Market grew at a CAGR of 5.6% between 2017-2021 and is estimated to be US$ 1,036.9Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.2% and is expected to reach a valuation of US$ 1,892.3Mn by 2032 end.
Since numerous producers in the food and beverage industries began to include vegan bacon in their food products, the demand for vegan bacon has increased along with the rise in popularity of fast food items that can be eaten on the go, such as hamburgers, pizzas, sandwiches, and appetizers.
Because it can be made into various textures and flavors, including Irish and Canadian-style bacon, the demand for vegan bacon has increased significantly. It is predicted to outpace the vegan bacon market as a whole.
ChemView Consulting has analyzed that growing knowledge of the negative effects of eating bacon has led customers to search for alternatives like vegan bacon in recent years. Numerous studies have found that excessive bacon consumption can result in diseases like cancer. For instance, the World Health Organization’s International Agency for Research on Cancer (IARC) categorized red meat intake as probably carcinogenic to humans in October 2015. It was determined that processed beef caused colorectal cancer based on sufficient data.
The bacon strip segment’s sales are expected to increase by 6.9% from 2023 to 2032. This is due to the increased consumption of ready-to-eat bacon strips worldwide. These bacon strips are widely utilized in fast food items like pizza, hamburgers, and sandwiches. Therefore, during the projection period, the growing production and consumption of these food items will support the expansion of the bacon strip segment.
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Segments Covered in Report
- Bacon Bites
- Bacon Strip
- Ready-to-eat Bacon
- Bacon Bits
- Standard Bacon
By Distribution Channel:
- Retail Channel
- Specialty Stores
- Online Stores
- Other Retail Channels
- Foodservice Channel
- Cafes and Bars
- Quick-service Restaurants
- Full-service Restaurants
- Other Foodservice Channels
- Drugs and Food & Beverages
- Home Care
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Vegan Bacon Market
- Based on the type, the bacon strip segment’s sales are expected to increase by 6.9% from 2023 to 2032. This is due to the increased consumption of ready-to-eat bacon strips worldwide. These bacon strips are widely utilized in fast food items like pizza, hamburgers, and sandwiches. Therefore, during the projection period, the growing production and consumption of these food items will support the expansion of the bacon strip segment.
- Based on the region, due to rising consumer preference for plant-based foods, rising food sensitivity to animal-based foods, and raising awareness of animal rights and protection, sales of vegan bacon are expected to grow at a strong rate of about 8.1% CAGR with a market share of 35.1% across North America during the forecast period.
Key companies covered in the market study are Cool Foods Inc., Beyond Meat, Conagra Inc., Hooray Foods, Kellogg NA Co., OmniFoods, Tofurky, LikeMeat GmbH, Upton’s Naturals, Whole Perfect Food, Sweet Earth Foods, Sunfed Ltd., Lightlife, Organic Matters, The Vegetarian Butcher
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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