Rising demand will see the world’s Vegan Bacon Market reach 2,028.6 Million by 2030

January 16th, 2023

Given that processed and red meat intake have been linked to colorectal cancer by the World Health Organization, bacon fans may need to consider changing up their breakfast routines. In terms of ethics, plant-based bacon is preferable than factory-farmed bacon because it isn't produced using pigs and has a significantly smaller carbon footprint. Furthermore, vegan meats typically contain less saturated fat. Perhaps this is why vegan bacon has experienced exponential growth in the plant-based meat business as a result of the availability of a wide range of varieties and flavours. 

The market for vegan bacon was valued at US$ 1,200.8 million in 2022, and it is anticipated to grow at a CAGR of 6.4% during the following five years (2022-2030). Read on for a deeper insight into these predictions.

Reasons behind the rising demand for vegan bacon

Vegan bacon is increasingly being included by food manufacturers into a variety of processed goods, which will increase its sales in the upcoming years. The demand for vegan bacon is anticipated to be driven by the expansion of the plant-based industry in emerging economies. A growing number of food and beverage companies are adding vegan bacon to their menus in response to rising fast food demand for items like sandwiches, hamburgers, pizza, and appetisers.

According to reports, the growing demand from consumers for healthy and organic products would cause the global vegan bacon market to reach 2,028.6 million by 2030. 

Key highlights you must be aware of

1. Over the course of the forecast period, the worldwide vegan bacon market is anticipated to see a CAGR of 6.4%. (2022-2032). 

2. The market for vegan bacon in China is expected to grow rapidly over the next ten years as a result of the rise in plant-based alternative companies and the demand from consumers for healthy and organic goods.

3. Due to the growing demand for vegan bacon, major businesses are utilising various techniques like mergers, acquisitions, and capacity development. For instance, in 2020, Danone (a French global food products organisation) paid $12.5 million to acquire Whitewave Foods Company, a company known for producing worldwide pleasure coffee creamers, horizon organic milk, and silk soymilk. 

4. Additionally, in March 2022, the vegan food manufacturer Grub Market bought SunFed, a prominent food production company.

5. The sales of plant-based foods in the United States rose by 11% in 2021, according to the Plant Based Foods Association and The Good Food Institute. Since April 2017, sales of plant-based foods have increased by 31% nationwide.

Studies have linked processed meats like bacon to a multitude of diseases, including colon, breast, lung, and liver cancers. According to a number of studies, eating red and processed meat increases your chance of developing diabetes and heart disease. Bacon contains a lot of salt, and too much salt raises blood pressure. Hence, in the future years, the market for vegan bacon will increase even more due to the rising number of new businesses that sell it as a healthier and cruelty-free substitute and the development of the food service sector.