Pancetta is pork belly (the same cut of pork that bacon is made from) that is cured in salt and sometimes sugar and spices, including black pepper, cloves, nutmeg and cinnamon. The curing may be a dry cure or a brine cure, but either way, the cure is what helps preserve it and flavor it. The flavor of pancetta is somewhat similar to bacon, but with a much deeper flavor of pork. The essence of pork flavor is stronger in pancetta than bacon because it isn’t smoked.