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Pork Market 2024 - By Size, Share, Forecast And Trends Analysis Report 2033
Pork Market
According to The Business Research Company's, The pork market size has grown steadily in recent years. It will grow from $152.13 billion in 2023 to $155.57 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to population growth and urbanization, changing dietary preferences, economic development, cultural and culinary practices, livestock farming practices..
The pork market size is expected to see steady growth in the next few years. It will grow to $169.49 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%. The growth in the forecast period can be attributed to health and wellness trends, sustainable farming practices, dietary shifts and alternative proteins, global food security, crisis resilience.. Major trends in the forecast period include plant-based and alternative proteins, digital marketing and e-commerce, environmental and animal welfare considerations, global culinary influences, nutritional innovation..
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Market Drivers and Trends:
The increase in consumption of meat around the globe is driving the pork market going forward. Meat refers to the meat or other edible components of animals (often domesticated cattle, swine, and sheep) used for food, which may also include tendons, ligaments, and muscles. Pork is an excellent option for meals and consumption since it is an affordable meat to produce, has a high protein content, and is adaptable. For instance, according to OCED (Organization for Economic Co-operation and Development), an intergovernmental organization based in France, the US consumed 10,177.30 thousand metric tons of meat in 2020, which increased to 10,191.61 thousand metric tons in 2021. Therefore, the increase in the consumption of meat across the globe is driving the market for pork.
Product innovations are a key trend gaining popularity in the pork market. Major companies operating in the market are introducing innovative products to sustain their position in the pork market. For instance, in July 2022, Cargill Incorporated, a US-based food company, announced the launch of healthy omega-3 pork in partnership with the EK Slaughterhouse, a Thailand-based pork processing and food service company. As a result, Omega-3 pork is produced on modern farms that use cargill feeding methods that leverage Omega-3-added feed for hogs. It is clean and safe, while still providing the advantages of these unique fatty acids. Many people have tried it, and the sole feedback has been that this pig is more soft than regular pork. EKS is the manufacturer and distributor of this pork for processing facilities to enhance the value chain and supply the Omega-3 pork under its brand via contemporary trade and across supermarkets using the Freshour brand to assist in marketing this revolutionary product and create an additional distribution channel .
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Major Key Players of the Market:
JBS SA; Tyson Foods Inc.; Pilgrim's Pride Corporation; Danish Crown A/S; Vion Food Group Ltd.; WH Group Limited; Hormel Foods Corporation; Muyuan Foods Co. Ltd.; China Yurun Food Group Co. Ltd.; Bridgford Foods Corporation; Coca Foods International Co. Ltd.; Craig Mostyn Group; The Tonnies Group; Monogram Food Solutions LLC; Cargill Inc.; Smithfield Foods Inc.; Sysco Corporation; Sanderson Farms Inc.; Seaboard Foods LLC; Triumph Foods LLC; Prestage Farms Inc.; The Maschhoffs LLC; Clemens Food Group LLC; Indiana Packers Corporation; Hatfield Quality Meats Inc.; Johnsonville Sausage LLC; Smithfield Farmland Corp.; Maple Leaf Foods Inc.
Pork Market 2024 Key Insights:
• The pork market will grow to $169.49 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%.
• Global Pork Market Surges The Driving Force Behind Rising Meat Consumption Worldwide
• Innovation In The Pork Market Cargill Introduces Omega-3 Pork In Collaboration With Ek Slaughterhouse
• Asia-Pacific was the largest region in the pork market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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