Preheat oven to 350 degrees F (175 degrees C).

Cook and stir bacon in a large skillet over medium-high heat to render some fat, 2 to 3 minutes. Stir onion into the rendered fat and cook until the bacon is crisp and the onion is tender, 7 to 10 minutes.

Stir baked beans, ketchup, brown sugar, Worcestershire sauce, prepared mustard, minced jalapeno pepper, chili powder, and mustard powder together in a large bowl; add bacon mixture and stir. Pour the mixture into a 13x9-inch baking dish.

Bake in the preheated oven until the liquid has thickened, 45 to 55 minutes.