Market Forecast
Global Packaged Salami, Sausage & Bacon Market size is projected to be valued at USD 8,868.39 Million by 2027 at a CAGR of 5.2% between 2020 and 2027. Salami, sausage, and bacon are meat products made from pork, beef, or poultry along with salt, spices, and flavorings. Salami is a type of strong-flavored sausage. Sausage is made from ground or chopped meat. On the other hand, bacon is salt-cured meat. The demand for packaged salami, sausage & bacon is increasing with increasing demand for meat products. The convenience, nutritional profile associated with them, and accessibility are some of the major factors that are pulling the market development. Furthermore, packaged salami, sausage & bacon are inexpensive and easily available to consumers belonging to all social-economical groups. Also, product innovations by manufacturers are expected to drive the demand for packaged salami, sausage & bacon during the forecast period. For instance, in 2019, Hormel Foods Corporation introduced Applegate Naturals no-sugar breakfast sausage.
Key Players of Packaged Salami, Sausage & Bacon Market
- Tyson Foods Inc. (US)
- Hormel Foods Corporation (US)
- Conagra Brands, Inc. (US)
- WH Group Limited (China)
- JBS S.A. (Brazil)
- Maple Leaf Foods (Canada)
- Fresh Mark, Inc. (US)
- Great British Meat Co. (UK)
- Seaboard Corporation (US)
- Cremonini S.p.A. (Italy)
Growth Opportunities in the Market
Adoption of Growth Strategies: Collaborations, expansion, partnerships, joint ventures, product innovation, and mergers & acquisitions are the top growth strategies adopted by certain market players active in the packaged salami, sausage & bacon market. These strategies have paved the way for market players to expand their business presence and diversify their product portfolio. The global packaged salami, sausage & bacon market is expected to emerge lucrative for the players focused on adopting new growth strategies or investing in the existing ones. Expansions have also proved to be opportunistic for numerous prominent brands. For instance, Tyson Foods Inc. announced plans to build new production facilities in Thailand and China. Furthermore, the company also plans to expand its existing facility in the Netherlands Demand for Organic Products: Consumer awareness regarding the environmental and health impact of chemicals in food items is on the rise. Due to the increasing awareness of the negative impact that chemicals can have on human health, consumers increasingly prefer organically cultivated and processed products. Thus, the global demand for organically produced products is growing rapidly. Along with North America and Europe, the adoption of organic food products is increasing in Asia-Pacific and the Middle East & Africa.
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By Region
North America: North America dominated the global packaged salami, sausage & bacon market in 2019 and is expected to continue during the forecast period. The consumer inclination towards intermediate snacking is anticipated to boost the demand for packaged salami, sausage & bacon. Moreover, expanding food industry and a wide variety of products by various manufacturers further propels the growth of packaged salami, sausage & bacon markets.
Europe
Asia-Pacific: Asia-Pacific is expected to grow at a moderate pace during the forecast period. The significant factors for the rising growth of packaged salami, sausage & bacon are the increasingly hectic lifestyles of the consumers and the popularity of convenient food products in the emerging economies.
Rest of the World
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