France: Ham and Bacon Market and the Impact of COVID-19 on It in the Medium Term

France: Ham and Bacon Market and the Impact of COVID-19 on It in the Medium Term

The ham & bacon market in France was equal to 2.37 billion USD (calculated in retail prices) in 2015. Until 2025, the bacon market in France is forecast to reach 2.70 billion USD (in retail prices), thus increasing at a CAGR of 1.31% per annum for the period 2020-2024. This is an increase, compared to the growth of about 1.03% per year, registered in 2015-2019.

The average consumption per capita in value terms reached 36.92 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 0.62% per annum. In the medium term (by 2025), the indicator is forecast to speed up its growth and increase at a CAGR of 0.96% per annum.

The meat products industry is going through a period of major shifts in consumer preferences. In fact, consumers’ evolving choice has influenced meat products production and consumption at all stages of the value chain. Now, people are increasingly health-conscious and more interested in functional foods with additional health benefits. So, demand for healthy and “clean label” products is increasingly growing and is one of the leading trends in the global industry. Aspects such as price and taste are no longer the main drivers of choice for consumers. Instead, consumers’ behavior has been significantly influenced by the growing importance of health and wellness, sustainability and social responsibility, as well as by the desire for new experiences.

Meat is highly sensitive with regards to changes in consumer preferences. One of the leading trends in the food industry as a whole is linked with the constantly changing eating habits. In recent years, the customers are changing their eating habits and lifestyle more regularly, which is especially obvious in their meat-eating habits. Consumer preferences are shifting to sustainable and culturally conscious nutrition. As a result, the poultry meat market, in particular, has observed a gradual decrease in meat consumption for food for the last 10 years. At the same time, nearly 50% of consumers in Germany follow a low-meat diet, while 6% of the US consumers were known to be vegans in 2017, compared to just 1% in 2015.