Sales of Vegan Bacon Are On the Rise as More Brands Hit the Market
Plant-based producers are attracting notable funding for a market not yet taken over by Impossible Foods and Beyond Meat.
By Larissa Zimberoff, Bloomberg
July 19, 2021
There’s no denying the appeal of bacon. The pork product represents a heart-stopping 99% of the total bacon market. In 2020, sales of the breakfast staple totaled $6 billion through November, up 20% from the same time period a year earlier.
But plant-based bacon is carving out space in the frying pan. Sales are up 25%—almost double that of meat-based bacon for the 52-week period ending April 18, according to data from Spins, which reports retailer data for natural and organic products. Nielsen, which aggregates data from conventional grocers, reported that the entire category of bacon alternatives almost doubled in 2020, to $267 million, compared to 2019.
One reason for the surge is that more alternative options are available as a new breed of bacon makers taps into popular ingredients to create the faux-pig products. They’re edging into a market that has been dominated for decades by such products as Lightlife’s Smart Bacon and Morningstar’s Veggie Bacon Strips, which have yet to deliver on metrics such as flavor, texture, and satiety.
The next generation of producers is employing innovative ingredients, processes, or both...
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