VEGAN BACON MARKET ANALYSIS

Vegan Bacon MarketSize and Trends

The global vegan bacon market was valued at US$ 1,271.3 Mn in 2022 and is expected to reach, exhibiting a CAGR of 6.7% during the forecast period 2023-2030.

Global Vegan Bacon Market: Trends

• Growing Awareness of Medical Advantages of Vegan Bacon: Rising awareness about the medical advantages of vegan bacon can boost the market growth. For instance, on April 29, 2021, vegan food manufacturer, Upton’s Naturals collaborated with Dot Foods, which is a food industry redistributor in North America. The new relationship will increase the availability of 100% vegan meat alternatives for distributors, restaurants, and foodservices establishments’ nationwide. Additionally, In July 2022, the International Agency for Research on Cancer, part of the World Health Organization, classified the utilization of red meat as probably oncogenic to humans. On the basis of sufficient evidence, it was concluded that the consumption of processed meat causes colorectal cancer which can hampered the market growth of meat-based products. Furthermore, in June 2020, a leading vegan bacon manufacturer, Beyond Meat, announced to acquire a new production unit in Enschede, Netherlands for the expansion of their production capacity in Europe.