The Bacon market in MEA is expected to grow from US$ 1,120.0 Mn in 2019 to US$ 1,440.2 Mn by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.
The growing inclination for convenience food products is also bolstering the growth of the food industry. Convenient foods are food products that need less time and effort for preparation. The demand for convenience foods such as tinned or packaged meat products, kinds of bacon, and others is increasing at a faster pace due to changes in social and economic patterns, and rapid urbanization. Additionally, the increasing buying power of the consumers, rising awareness about health foods, and changes in food habits and meal patterns further bolster the demand for convenience food. Convenience food is rapidly gaining popularity among children, teenage, working-class people, and people living in hostels and bachelors. The significant shift of the people towards convenience foods in developed countries such as the South Africa, Uganda, UAE, and Rest of MEA, among others, is driving the demand for bacon market in MEA. Bacon is extensively used by individual consumers and by foodservice providers. Bacon offers food service providers, restaurants, and other consumers a simple and easy way to offer a great variety of food options. Therefore, the increasing demand for bacon for the preparation of various recipe is projected to drive market growth in MEA region. The increase in utilization of animal-derived products is among the other factors expected to positively influence the demand for bacon.
The pork segment led the bacon market based on nature type in 2019. Pork is the culinary name for the meat of domestic pig. Pork bacon has been one of the major contributing sources for the expansion of the bacon market. The UAE, South Africa, Uganda and Rest of MEA amongst many other countries has experienced a rising demand for the pork market and is estimated to be growing in the coming years. The rising demand for pork bacon in these countries has contributed to the over expansion of the bacon market all over the MEA region. Flavored pork bacon, such as apple-smoked or peppered, also is available worldwide. In general, as bacon has a higher fat content and intense smoky flavor, the increasing demand and flavor for pork meat has favored the MEA market. Thus all these factors are expected to drive the bacon market.
South Africa has the largest COVID-19 cases in the MEA, followed by Uganda and the UAE, among others. The UAE was the first country in the region to report a confirmed case of this infection.
The overall MEA Bacon market size has been derived using 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. The process also serves the purpose of obtaining overview and forecast for the MEA Bacon market with respects to all the segments pertaining to the region. 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 expert 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 MEA Bacon market are OSI Group, JBS S.A, Hormel Foods Corporation, Farmland Industries, Inc., and Applegate Farms, LLC.