The bacon market in APAC is expected to grow from US$ 6468.6 million in 2019 to US$ 9,281.1 million by 2027; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027.
China, Australia, Japan, South Korea and Rest of APAC are the major economies in APAC. The growing preference for convenience food products will boost the growth of bacon market. 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 China, Australia, Japan, South Korea, and Rest of APAC among others, is driving the demand for bacon market in APAC region. 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. Thus, the growth in the food sector is expected to create a significant demand for bacon in the coming years, which is further anticipated to drive the market in APAC.The presence of various emerging economies, along with rapid industrialization, massive population, and rising disposable income among individuals, are the major factors driving the APAC linear accelerator market's growth. However, the outbreak of COVID-19 is expected to worsen in the coming months, affecting APAC's economic stability. Although China is the world's leading raw material supplier for various industries and global manufacturing hub, it is the worst affected country due to the COVID-19 outbreak in APAC followed by India, which declared 10 weeks' nationwide lockdown causing cease of business operations. Several governments across APAC are taking significant actions such as travel bans, business shutdowns, and lockdowns to mitigate the COVID-19 outbreak, which affects the revenue generation and growth opportunities in APAC.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Bacon market. The APAC Bacon market is expected to grow at a good CAGR during the forecast period.
APAC Bacon Market Revenue and Forecast to 2027 (US$ Mn)
APAC Bacon Market Segmentation
APAC Bacon Market – By Nature
- Organic
- Conventional
APAC Bacon Market – By Source
- Pork
- Beef
- Turkey
- Chicken
APAC Bacon Market – By Type
- Dry Cured
- Immersion Cured
- Pumped Bacon
APAC Bacon Market – ByDistribution Channel
- Supermarkets and Hypermarkets
- Independent Retailers
- Food Service
- Others
APAC Bacon Market, by Country
- China
- Australia
- Japan
- South Korea
- Rest of APAC
APAC Bacon Market-Companies Mentioned
• OSI Group
• JBS S.A
• Hormel Foods Corporation
• Farmland Industries, Inc.
• Applegate Farms, LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Nature, Source, Type, Distribution Channel, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Bacon Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Expert Opinion
5. Bacon Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in consumption of animal-derived products
5.1.2 Growing preference for convenience food products
5.2 Market Restraints
5.2.1 Rising health awareness among consumers due to increasing number of lifestyle and chronic diseases
5.3 Market Opportunities:
5.3.1 Development of new products by the market players
5.4 Future Trends:
5.4.1 Usage of bacon in paleo and keto diet
5.5 Impact Analysis of Drivers and Restraints
6. Bacon – APAC Market Analysis
6.1 Bacon Market Overview
6.2 Bacon Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Bacon Market Analysis – By Nature
7.1 Overview
7.2 APAC Bacon Market, By Nature (2018 and 2027)
7.3 Organic
7.3.1 Overview
7.3.1.1 Organic: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Conventional
7.4.1 Overview
7.4.1.1 Conventional: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
8. Bacon Market Analysis – By Source
8.1 Overview
8.2 APAC Bacon Market, By Source (2018 and 2027)
8.3 Pork
8.3.1 Overview
8.3.1.1 Pork: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Beef
8.4.1 Overview
8.4.1.1 Beef: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Turkey
8.5.1 Overview
8.5.1.1 Turkey: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Chicken
8.6.1 Overview
8.6.1.1 Chicken: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
9. Bacon Market Analysis – By Type
9.1 Overview
9.2 APAC Bacon Market, By Type (2018 and 2027)
9.3 Dry Cured
9.3.1 Overview
9.3.1.1 Dry Cured: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Immersion Cured
9.4.1 Overview
9.4.1.1 Immersion Cured: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Pumped Bacon
9.5.1 Overview
9.5.1.1 Pumped Bacon: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
10. Bacon Market Analysis – By Distribution Channel
10.1 Overview
10.2 APAC Bacon Market, By Distribution Channel (2018 and 2027)
10.3 Supermarket and Hypermarkets
10.3.1 Overview
10.3.1.1 Supermarkets and Hypermarkets: Bacon Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Independent Retailers
10.4.1 Overview
10.4.1.1 Independent Retailers: Bacon Market – Revenue and Forecast to 2027 (US$ Million)
10.5 Food Service
10.5.1 Overview
10.5.1.1 Food Service: Bacon Market – Revenue and Forecast to 2027 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.1.1 Others: Bacon Market – Revenue and Forecast to 2027 (US$ Million)
11. Bacon Market – Country Analysis
11.1 Overview
11.2 APAC: Bacon Market
11.2.1 APAC: Bacon Market, by Key Country
11.2.1.1 Australia: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
11.2.1.1.1 Australia: Bacon Market, by Nature
11.2.1.1.2 Australia: Bacon Market, by Source
11.2.1.1.3 Australia: Bacon Market, by Type
11.2.1.1.4 Australia: Bacon Market, by Distribution Channel
11.2.1.2 China: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
11.2.1.2.1 China: Bacon Market, by Nature
11.2.1.2.2 China: Bacon Market, by Source
11.2.1.2.3 China: Bacon Market, by Type
11.2.1.2.4 China: Bacon Market, by Distribution Channel
11.2.1.3 Japan: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
11.2.1.3.1 Japan: Bacon Market, by Nature
11.2.1.3.2 Japan: Bacon Market, by Source
11.2.1.3.3 Japan: Bacon Market, by Type
11.2.1.3.4 Japan: Bacon Market, by Distribution Channel
11.2.1.4 South Korea: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
11.2.1.4.1 South Korea: Bacon Market, by Nature
11.2.1.4.2 South Korea: Bacon Market, by Source
11.2.1.4.3 South Korea: Bacon Market, by Type
11.2.1.4.4 South Korea: Bacon Market, by Distribution Channel
11.2.1.5 Rest of APAC: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
11.2.1.5.1 Rest of APAC: Bacon Market, by Nature
11.2.1.5.2 Rest of APAC: Bacon Market, by Source
11.2.1.5.3 Rest of APAC: Bacon Market, by Type
11.2.1.5.4 Rest of APAC: Bacon Market, by Distribution Channel
12. Impact of COVID-19 Pandemic on APAC Bacon Market
12.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
13. Key Company Profiles
13.1 Applegate Farms, LLC
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.2 Farmland Industries, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.3 Hormel Foods Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 JBS S.A
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Development
13.5 OSI Group
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. APAC Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia Bacon Market, by Nature – Revenue and Forecast to 2027 (USD Million)
Table 3. Australia Bacon Market, by Source – Revenue and Forecast to 2027 (USD Million)
Table 4. Australia Bacon Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. Australia Bacon Market, by Distributional Channel – Revenue and Forecast to 2027 (USD Million)
Table 6. China Bacon Market, by Nature – Revenue and Forecast to 2027 (USD Million)
Table 7. China Bacon Market, by Source – Revenue and Forecast to 2027 (USD Million)
Table 8. China Bacon Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 9. China Bacon Market, by Distributional Channel – Revenue and Forecast to 2027 (USD Million)
Table 10. Japan Bacon Market, by Nature – Revenue and Forecast to 2027 (USD Million)
Table 11. Japan Bacon Market, by Source – Revenue and Forecast to 2027 (USD Million)
Table 12. Japan Bacon Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 13. Japan Bacon Market, by Distributional Channel – Revenue and Forecast to 2027 (USD Million)
Table 14. South Korea Bacon Market, by Nature – Revenue and Forecast to 2027 (USD Million)
Table 15. South Korea Bacon Market, by Source – Revenue and Forecast to 2027 (USD Million)
Table 16. South Korea Bacon Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 17. South Korea Bacon Market, by Distributional Channel – Revenue and Forecast to 2027 (USD Million)
Table 18. Rest of APAC Bacon Market, by Nature – Revenue and Forecast to 2027 (USD Million)
Table 19. Rest of APAC Bacon Market, by Source – Revenue and Forecast to 2027 (USD Million)
Table 20. Rest of APAC Bacon Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 21. Rest of APAC Bacon Market, by Distributional Channel – Revenue and Forecast to 2027 (USD Million)
Table 22. Glossary of Terms, APAC Bacon Market
LIST OF FIGURES
Figure 1. APAC Bacon Market Segmentation
Figure 2. APAC Bacon Market Segmentation – By Country
Figure 3. APAC Bacon Market Overview
Figure 4. Pork Segment Held Largest Share of APAC Bacon Market
Figure 5. China Country Held Largest Share of APAC Bacon Market
Figure 6. APAC Bacon Market, Industry Landscape
Figure 7. APAC: PEST Analysis
Figure 8. Expert Opinion
Figure 9. APAC Bacon Market Impact Analysis of Driver and Restraints
Figure 10. APAC: Bacon Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. APAC Bacon Market Revenue Share, by Nature (2018 and 2027)
Figure 12. APAC Organic: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. APAC Conventional: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. APAC Bacon Market Revenue Share, by Source (2018 and 2027)
Figure 15. APAC Pork: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. APAC Beef: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. APAC Turkey: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. APAC Chicken: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. APAC Bacon Market Revenue Share, by Type (2018 and 2027)
Figure 20. APAC Dry Cured: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. APAC Immersion Cured: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. APAC Pumped Bacon: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. APAC Bacon Market Revenue Share, by Distribution Channel (2018 and 2027)
Figure 24. APAC Supermarkets and Hypermarkets: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. APAC Independent Retailers: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. APAC Food Service: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. APAC Others: Bacon Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. APAC: Bacon Market Revenue Share, by Key Country (2018 and 2027)
Figure 29. Australia: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 30. China: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 31. Japan: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 32. South Korea: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 33. Rest of APAC: Bacon Market –Revenue and Forecast to 2027 (US$ Million)
Figure 34. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- OSI Group
- JBS S.A
- Hormel Foods Corporation
- Farmland Industries, Inc.
- Applegate Farms, LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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