Pork Meat Global Market Poised to Reach $524.87 Billion By 2028, Predicts The Business Research Company

"The Business Research Company recently released a comprehensive report on the Global Pork Meat Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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

Pork Meat Market 2024 Key Insights:

• 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%.
• Role Of Food And Beverage Industry In Driving The Pork Meat Market
• Meeting Market Demand And Scaling Up Production In The Pork Meat Industry
• Asia-Pacific was the largest region in the pork meat 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.

This release was published on openPR.