Press release
Global Pork Extract Market Projected to Surpass $5.76 Billion by 2029 with 6.39% Annual Growth
Pork Extract
The rising demand for meat products is anticipated to propel the pork extract market. Meat products, which include beef, pork, poultry, and fish, are seeing increased demand due to health and nutrition considerations, convenience, and demographic changes. Pork extract serves as a natural alternative to monosodium glutamate (MSG), providing a rich pork flavor without the health concerns associated with MSG. According to Farm Credit Canada, in 2023, meat product manufacturing increased by 2.5%, and 2022 saw a 9% year-over-year increase in sales. The growing popularity of meat products is driving the pork extract market.
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How will the growth rate of the pork extract market shape industry trends by 2034?
The pork extract market has seen strong growth in recent years. It will increase from $4.21 billion in 2024 to $4.49 billion in 2025, at a CAGR of 6.8%. Growth is due to the expanding food processing industry, the rising demand for high-quality meat products, concerns over animal welfare, and the growing use of pork extract in pharmaceuticals.
The pork extract market is forecast to grow to $5.76 billion by 2029, at a CAGR of 6.4%. The growth is driven by higher disposable income, a growing focus on sustainability, increased demand for pork extract in households, a preference for ready-to-eat and convenience foods, and high consumption of processed meats. Key trends include technological advancements, flavor enhancers, expansion into non-food applications, and a preference for savory flavors.
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What are the most significant trends transforming the pork extract market today?
Companies in the pork extract market are investing in the development of pork extract to tackle industry challenges and improve margins for farmers. For example, in April 2024, Lidl, a German food manufacturing company, invested $533.07 million (£500 million) into the British pork sector. This investment aims to support high-quality British pork production at affordable prices, while also promoting animal welfare and environmental sustainability. Lidl has implemented an open-book model for pork producers that ensures fixed margins and guarantees minimum production volumes.
Which primary segments of the pork extract market are driving growth and industry transformations?
The pork extract market covered in this report is segmented -
1) By Type: Powder, Soup, Oil, Concentrate, Liquid
2) By Distribution Channel: Offline, Online
3) By Application: Household, Catering Service Industry, Food Processing, Pharmaceutical Industry, Pet Food, Other Applications
Subsegments:
1) By Powder: Pork Extract Powder For Flavoring, Pork Protein Powder, Instant Pork Extract Powder, Pork Powder For Nutritional Supplements, Organic Pork Extract Powder
2) By Soup: Ready-To-Serve Pork Soup Extract, Pork Bone Broth Extract, Pork Soup Base Extract, Instant Pork Soup Extract, Pork Soup Concentrate
3) By Oil: Pork Fat Oil, Refined Pork Oil Extract, Pork Lard Oil Extract, High-Quality Pork Oil For Cooking, Pork Oil For Nutritional Applications
4) By Concentrate: Pork Extract Concentrate For Food Industry, Pork Stock Concentrate, High-Flavor Pork Extract Concentrate, Pork Extract Concentrate For Sauces And Marinades
5) By Liquid: Liquid Pork Extract For Soups And Broths, Liquid Pork Extract For Sauces And Seasonings, Fresh Liquid Pork Extract, Liquid Pork Extract For Beverages And Nutritional Products, Organic Liquid Pork Extract
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Which geographical regions are pioneering growth in the pork extract market?
North America was the largest region in the pork extract market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the pork extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the pork extract market landscape?
Major companies operating in the pork extract market are WH Group Limited (Smithfield Foods Inc.), Smithfield Foods, JBS S.A., Kerry Group Plc, Givaudan, The Tonnies Group, Vion Food Group Ltd., Triumph Foods, Activ International, Robertet Group, Naturex S.A., ARIAKE Japan Co.Ltd, Haco Holding AG, Essentia Protein Solutions, Proliant Biologicals, Kanegrade Ltd., Titan Biotech Ltd., Maverick Biosciences, Chimab S.p.A, Nikken Foods, Carnad A/S, Colin Ingredients, A.Costantino &C.spa, Blue California, Mane SA
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What Is Covered In The Pork Extract Global Market Report?
•Market Size Forecast: Examine the pork extract market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the pork extract market for a structured understanding.
•Key Players Overview: Analyze major players in the pork extract market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pork extract market.
•Segment Contributions: Evaluate how different segments drive overall growth in the pork extract market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pork extract market.
•Industry Challenges: Identify potential risks and obstacles affecting the pork extract market.
•Competitive Landscape: Review strategic developments in the pork extract market, including expansions, agreements, and new product launches.
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