Press release
Global Pork Market Projected to Grow at 2.5% CAGR, Reaching $173.85 Billion by 2029
Pork
What Will the Pork Industry Market Size Be by 2025?
The size of the pork market has exhibited consistent growth over the past few years. The projected growth indicates an increase from $154.53 billion in 2024 to $157.78 billion in 2025, with a compound annual growth rate (CAGR) of 2.1%. The historic period's growth can be credited to factors such as population expansion, urbanization, shifts in eating habits, economic advancement, cultural and culinary practices, and livestock farming methods.
What's the Long-Term Growth Forecast for the Pork Market Size Through 2029?
A consistent increase in the size of the pork market is projected over the coming years, with valuations expected to reach $173.85 billion by 2029, growing at a compounded annual growth rate (CAGR) of 2.5%. Factors contributing to the growth during this period include health and wellness trends, sustainable agricultural methods, changes in diet and alternative protein options, worldwide food security, and crisis resilience. Key trends for the forecast period incorporate plant-based and substitute proteins, digital promotion and e-commerce, considerations for the environment and animal welfare, international culinary influences, and innovations in nutrition.
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What Are the Key Growth Drivers Fueling the Pork Market Expansion?
The surge in meat intake worldwide is propelling the growth of the pork market. Meat, referring to the edible parts of animals such as domesticated cattle, swine, and sheep, encompasses edible portions like tendons, ligaments, and muscles. Pork, in particular, has become a popular choice for meals due to its cost-effective production, substantial protein content, and versatility. As stated by Dezan Shira & Associates, a diversified professional services firm based in China, around 92.27 million tons of meat was manufactured in China in 2022, marking a 3.8% increase from the prior year. Thus, the escalating global meat consumption is significantly contributing to the expansion of the pork market.
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What Are the Key Trends Driving Pork Market Growth?
Product advancements are one of the major trends taking the pork industry by storm. Dominant players in the market are creating innovative products to maintain their hold in the pork industry. For example, in July 2022, Cargill Incorporated, an American food company, launched its healthy omega-3 pork, in collaboration with EK Slaughterhouse, a pork processing and food service business based in Thailand. Omega-3 pork is manufactured in state-of-the-art farms, using Cargill's feeding techniques that incorporate Omega-3 enriched feed for pigs. The final product is hygienic and safe while imbued with the benefits of these special fatty acids. Many have tasted it and the consensus is that this pork is tenderer than the conventional variety. EKS manages the manufacturing and distribution of this pork, augmenting the value chain and supplying the Omega-3 pork under its brand. It targets modern trade and supermarkets using the Freshour brand to assist in promoting this groundbreaking product, thereby creating an additional distribution channel.
How Is the Pork Market Segmented?
The pork market covered in this report is segmented -
1) By Type: Chilled, Frozen
2) By Packaging: Store Wrap, Modified Atmosphere Packaging, Vacuum Packaging, Shrink Bags, Others
3) By Application: Household, Commercial
Subsegments:
1) By Chilled: Fresh Chilled Pork Cuts, Chilled Processed Pork Products
2) By Frozen: Frozen Pork Cuts, Frozen Processed Pork Products
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Which Companies Are Leading the Charge in Pork Market Innovation?
Major companies operating in the pork market include JBS SA, Tyson Foods Inc., Danish Crown A/S, Vion Food Group Ltd., WH Group Limited, Hormel Foods Corporation, Muyuan Foods Co. Ltd., China Yurun Food Group Co. Ltd., Craig Mostyn Group, The Tonnies Group, Monogram Food Solutions LLC, Cargill Inc., Smithfield Foods 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, Maple Leaf Foods Inc.
Which Regions Are Leading the Global Pork Market in Revenue?
Asia-Pacific was the largest region in the pork market in 2024. The regions covered in the pork market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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