As per FMI, the global vegan bacon market size is anticipated to grow from US$ 1,280 Mn in 2022 to US$ 2,425.4 Mn by 2032, accelerating at a CAGR of 6.6% throughout the forecast period (2022-2032).
Rising awareness about the health benefits of vegan bacon, growing concerns about animal welfare, and rapid consumer shift towards plant-based nutrition are some of the key factors driving growth in the global vegan bacon market.
Vegan bacon is a healthy alternative to conventional meat bacon. It contains large amounts of proteins and fibers, which makes it a healthy and nutritional food product. It is being increasingly consumed by people across the world.
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Vegan bacon is versatile and can be used in both sweet and savory dishes, making it a popular choice for chefs looking to add flavor and excitement to their menus. It offers all of the flavor of pork bacon without any of the animal cruelty. As a result, it is being incorporated into a variety of on-the-go processed food items by manufacturers.
The vegan market has been booming in recent years, with more people searching for plant-based alternatives to meat and dairy products.
There are a number of different vegan bacon brands on the market, but most are made from either soy or seitan. These products can be found in the refrigerated section of most grocery stores, next to the tofu and tempeh. For instance, Seitan bacon is made from wheat gluten and has a chewy texture that mimics pork bacon quite well.
Key Takeaways from Market Study
- By type, revenue from the bacon strip segment will grow by 5.8% during the forecast period.
- By distribution channel, the food service channel is likely to generate lucrative revenues in the global vegan bacon market through 2032.
- The U.S. vegan bacon market is poised to surge at a healthy pace during the assessment period.
- Demand for vegan bacon is anticipated to grow at a strong pace across Germany due to growing number of vegan populations.
- With rise in the number of plant-based alternative startups and growing consumer demand for healthy and organic products, vegan bacon market in China is projected to expand at a robust pace over the next ten years.
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“Growing awareness about the health benefits of vegan bacon and surge in the number of fast food restaurants worldwide will propel the vegan bacon market growth over the forthcoming years,” says a Future Market Insights analyst.
Who is Winning?
Some of the leading manufacturers and suppliers of vegan bacon include Upton’s Naturals, Beyond Meat, Tofurky, THIS.co, Sweet Earth Foods, Kellogg NA Co. (MorningStar Farms), Organic Matters, Lightlife, Cool Foods, Inc., VBites Foods, Yves Veggie Cuisine, Frontier CO-OP, Impossible Foods Inc., Maple Leaf Foods, The Vegetarian Butcher, Conagra, Inc. (Gardein Protein International), Quorn Foods, Sunfed Ltd., Ojah B.V., LikeMeat GmbH, Next Meats, OmniFoods, Hooray Foods, Prime Roots, Whole Perfect Food.
Leading companies are continuously focusing on introducing novel products derived from various plant sources. Besides this, they are adopting strategies such as partnerships, acquisitions, collaborations, and mergers to expand their global footprint.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Vegan Bacon market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
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The study offers compelling insights based on Type (Bacon Bites, Bacon Strip, Ready-to-eat Bacon, Bacon Bits, Standard Bacon); By Storage (Shelf-stable, Refrigerated, Frozen); By Distribution Channel (Retail Channel, Supermarkets/Hypermarkets, Specialty Stores, Online Stores, Other Retail Channels; Foodservice Channel, Cafes and Bars, Quick-service Restaurants, Full-service Restaurants, Other Foodservice Channels), across seven major regions of the world.
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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