The Pork Meat Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pork Meat Global Market Report 2024, 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.
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.
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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
Facility expansion is a key trend gaining popularity in the pork meat market. The manufacturers in this market are focusing on expanding their facilities to commercialize cultivated pork to meet market demand. For instance, in November 2023, Meatable, a Netherlands-based producer of cell-based meat, announced a 3,300 m2 facility expansion to facilitate a 900% increase in the production scale of cultivated pork. As a result of the expansion of its facilities, the new pilot plant in Leiden, the Netherlands, now boasts double the size of its previous lab and office space. This enhancement allows Meatable to elevate its bioreactor capacity from 50 liters to 200 liters, with the potential for further expansion to 500 liters.
The pork meat market report table of contents includes:
1. Executive Summary
2.Pork Meat Market Characteristics
3.Pork Meat Market Trends And Strategies
4.Pork Meat Market analysis
5.Pork Meat Market Size And Growth
6.Pork Meat Segmentation
7.Pork Meat Regional And Country Analysis
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27.Pork Meat Competitive Landscape And Company Profiles
28.Pork Meat Key Mergers And Acquisitions
29.Pork Meat Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Cargill Incorporated
- JBS S.A.
- Sysco Corporation
- Danish Crown
- Tyson Foods Inc.
- WH Group Limited
- Smithfield Foods Inc.
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