Pork meat is defined as food products that are slaughtered and used for human consumption by processing and preserving pork meat by smoking, salting, fermenting, or adding any chemicals.
Sizing and Forecast
The pork meat market size has grown strongly in recent years. It will grow from $372.78 billion in 2023 to $400.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to population growth and urbanization, income levels and affordability, cultural and dietary preferences, retail and distribution networks, global trade and export.
The pork meat market size is expected to see strong growth in the next few years. It will grow to $524.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to changing dietary patterns, rising global population, health and nutrition trends, economic development in emerging markets, government regulations and trade policies. Major trends in the forecast period include traceability and transparency in the supply chain, integration of technology in pork processing, globalization of pork trade and export markets, adoption of plant-based and alternative pork products, innovation in packaging and labeling for convenience.
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Segmentation & Regional Insights
The pork meat market covered in this report is segmented –
1) By Meat Form: Chilled, Frozen, Canned/Preserved
2) By Packaging: Store Wrap, Modified Atmosphere Packaging, Vacuum Packaging, Shrink Bags
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Asia-Pacific was the largest region in the pork meat market in 2023. The regions covered in the pork meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing food and beverage industry is expected to drive the growth of the pork meat market in the coming years. The food and beverage sector encompasses all businesses involved in the processing, packaging, and distribution of raw food materials. This includes both fresh and packaged foods, as well as alcoholic and non-alcoholic beverages. Pork is a good source of high-quality protein, which is an important nutrient for human health. Once consumed, it includes large levels of amino acids. For instance, in September 2022, according to a report published by Statistics Sweden, a Sweden-based government agency, the revenue generated from food and beverage sales reached $29.85 billion (SEK 334 billion), marking a 2.9 percent growth. This growth can be attributed to a 2.5 percent rise in sales volume and a 0.4 percent uptick in the prices of food and beverages. Therefore, the growing food and beverage sector propels the growth of the pork meat market.
Key Industry Players
Major companies operating in the pork meat market report are Cargill Incorporated, JBS S.A., Sysco Corporation, Danish Crown, Tyson Foods Inc., WH Group Limited, Smithfield Foods Inc., Hormel Foods Corporation, Conagra Brands Inc., BRF S.A., Tönnies Holding, Minerva Foods SA, Vion Food Group, Vion NV, Maple Leaf Foods, Cranswick plc, Cherkizovo, Triumph Foods, Johnsonville LLC, Clemens Food Group, Craig Mostyn & Co Pty Ltd., China Yurun Food Group Limited, Bridgford Foods Corporation, AJC International Inc., NH Foods Ltd., Globex International Inc., Grove Services Inc., Compart Family Farms, Boston Agrex Inc., Dawn Meats
The pork meat market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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