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Smoked Bacon and Ham Global Market Report 2023
Major players in the smoked bacon and ham market are Nueske’s Applewood Smoked Meat, Hormel Foods Corporation, Smithfield Foods Inc., The Kraft Heinz Company, Nassau Foods Inc., Pestells Rai Bacon Company, Cornish Farmhouse Bacon Co Ltd.
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smoked Bacon and Ham Global Market Report 2023" - https://www.reportlinker.com/p06426506/?utm_source=GNW
, Boks Bacon, Sikorski Sausages Company Ltd., Holly Bacon Company, Kaminiarz Gmbh, Vermont Smoke & Cure, Oscar Mayer, and JBS USA Holdings Inc.
The global smoked bacon and ham market grew from $14.54 billion in 2022 to $15.5 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The smoked bacon and ham market is expected to grow to $19.44 billion in 2027 at a CAGR of 5.8%.
The smoked bacon and ham market consists of sales of ham, bacon, sausages, hot dogs, and pepperoni.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The smoked bacon and ham are used as a convenient ingredient for dishes including sandwiches, burgers, and others.Smoked bacon and ham are products made from pork and are cured, cooked, and smoked to enhance taste and flavor.
Even though both bacon and ham come from the same source, particularly pork, they differ in the sections from which they are made and the way they are cured. Smoked bacon and hams are used in various pizzas and burgers and are considered convenience foods.
Asia-Pacific was the largest region in the smoked bacon and ham market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the smoked bacon and ham market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of smoked bacon and ham are smoked bacon and smoked ham.Smoked bacon is used as a convenient and ready-to-cook ingredient for dishes like sandwiches, Smoked bacon is cured meat prepared from pigs.
The meat is smoked using different types of wood chips or sawdust for different flavors. It is used in foodservice and retail applications that are distributed through various channels such as supermarkets or hypermarkets, convenience stores, food services, online retailers, and others.
The increase in popularity of fast-food chains, cafes, and hotels is driving the growth of the smoked bacon and ham market going forward.Fast food chains refer to the cafes and restaurants that prepare and serve food quickly.
Ham and bacon are popular meats and appetizers that are added to non-vegetarian sandwiches and burgers.The popularity of restaurants, cafes, and hotels is promoting the growth of the smoked bacon and ham market.
For instance, according to Budget Branders, a US-based food and beverage service industry, there are over 37,000 McDonald’s locations globally.Also, the average amount Americans spend on fast food is $1,200 a year.
Therefore, the increase in popularity of fast-food chains, cafes, and hotels is driving the demand for the smoked bacon and ham market.
Technological advancements have emerged as the key trend gaining popularity in the smoked bacon and ham market.Companies are constantly innovating in smoke technology to improve the quality of smoke and flavor.
Improved flavor attracts more customers to go for smoked bacon and ham, which in turn results in the growth of the smoked bacon and ham market.For instance, in August 2021, TMI Foods, a UK-based supplier of fully cooked crispy bacon, signed an exclusive licensing agreement with Besmoke to install innovative Puresmoke technology at TMI Foods’ facility in Northampton.
Pure smoke technology promises to deliver authentic and clean wood smoke flavors to the bacon. The new Puresmoke technology will be specifically integrated into the curing/cooking process, promising to offer realistic and clean wood smoke flavors.
In October 2021, Swift Prepared Foods, a US-based manufacturer of prepared foods, acquired Sunnyvalley Smoked Meats for $90 million.The acquisition would provide Swift Prepared Foods an opportunity to expand its geographic footprint in the smoked bacon market.
Sunnyvalley Smoked Meats is a US-based producer of smoked bacon, turkey, and ham for retail and wholesale customers.
The countries covered in the smoked bacon and ham market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The smoked bacon and ham market research report is one of a series of new reports that provides smoked bacon and ham market statistics, including smoked bacon and ham industry global market size, regional shares, competitors with smoked bacon and ham market share, detailed smoked bacon and ham market segments, market trends and opportunities, and any further data you may need to thrive in the smoked bacon and ham industry. This smoked bacon and ham market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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