Pork Meat Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Europe|
|Largest Market||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
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Pork Meat Market Analysis
The pork meat market is projected to register a CAGR of 5.7% over the next five years.
- With constantly changing food consumption and eating habits of consumers, demand for convenient and processed food is on the rise. In many regions, consumer demand for pork meat is also increasing, owing to its nutritional benefits such as high protein content, vitamins, and satiety. Fitness enthusiasts and sports athletes often consume pork meat products to build muscles. According to data from the Ministry of Agriculture, Forestry, and Fisheries in Japan in 2021, the per capita volume of consumption of pork meat products was 13.2 kg.
- Furthermore, the demand for pork meat in food service restaurants, cafes, and franchise outlets is increasing due to the consumer trend of eating out and on-the-go food. In addition, tourism in many regions, such as Europe, Asia-Pacific, and North America, is also increasing, leading to an increase in demand for pork meat products. According to the United States Department of Commerce (USDoC) - International Trade Administration (ITA), approximately 22.1 million international visitors arrived in the United States in 2021.
- Although pork meat products are popular in many regions, the market growth may be restricted by the increasing consumption of plant-based products and religious beliefs. Nevertheless, market players have launched new meat products to meet the increasing demand. For instance, in October 2021, Woolworths Supermarkets announced a retailer first for pork in the Australian market. A new range of dry-aged pork products will be featured in stores and online across New South Wales, Victoria, and South Australia. Dry-aged pork offers a full, rich flavor with exceptional tenderness. The dry aging method naturally tenderizes the pork, locking in moisture and enhancing the flavor. The extraordinary combination of flavor and tenderness makes dry-aged pork steaks ideal in a variety of dishes.
Pork Meat Industry Segmentation
Pork is the culinary name for the meat of the pig. It is the most commonly consumed meat worldwide. Pork is eaten both freshly cooked and preserved; curing extends the shelf life of pork products. Ham, gammon, bacon, and sausage are examples of preserved pork.
The pork meat market is segmented by product form, distribution channel, and geography. Based on meat form, the market is segmented into fresh/chilled, frozen, and canned/preserved. Based on distribution channels, the market is segmented into hypermarkets/ supermarkets, convenience stores, specialty stores, online retailing, and other distribution channels. Based on geography, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments.
|Other Distribution Channels|
Pork Meat Market Trends
Increasing Demand for Processed Pork Products
- The growing demand for animal protein and a preference for low-fat, high-protein diets have contributed to a significant increase in the consumption of pork and other animal proteins worldwide.
- Consumer demand for processed pork products, such as bacon, hams, and sausages, is also on the rise due to convenience and food preferences. Furthermore, health-conscious individuals are increasingly consuming pork meat due to its high protein content and nutritional benefits.
- Market players are capitalizing on this trend by importing and exporting pork meat products to increase their production and processing capabilities. According to a 2021 report by the United States Department of Agriculture (USDA), the value of pork and pork product exports from the United States was USD 8 billion, representing a 5% increase from the previous year.
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Asia-Pacific is the Largest Market
- In countries such as China and Japan in the Asia-Pacific region, pork meat consumption is high due to both environmental conditions and the food preferences of consumers. According to a 2021 survey by the Organisation for Economic Cooperation and Development (OECD), per capita consumption of pork meat products in China was 23.68 kg.
- The region has also witnessed an increase in consumption of processed and convenience meat products due to busy lifestyles and rising disposable income. Moreover, due to the growing tourism industry, demand for pork meat in food service restaurants and franchises is also on the rise.
- To meet the increasing demand, market players are introducing high-quality pork meat products in the region. For instance, in August 2022, Impossible Foods launched its pork meat product, Impossible Pork, in restaurants and cafes in Australia.
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Pork Meat Industry Overview
The pork meat market is highly competitive and includes both regional and international players. Global players such as JBS SA, Tyson Foods Inc, Hormel Foods LLC, Conagra Brands Inc., and Vion Food Group dominate the market. These companies are expanding their presence to cater to a wider market by implementing strategies such as product innovation, mergers & acquisitions, expansions, and partnerships.
Companies are investing heavily in research and development to introduce new and innovative pork meat products to the market to gain a competitive advantage. They are also focusing on expanding their distribution networks to reach a wider customer base. In addition, mergers and acquisitions are becoming a popular strategy for companies to increase their market share and expand their geographical presence. Overall, the market is dynamic and evolving, with companies constantly adapting to changing consumer demands and market trends.
Pork Meat Market Leaders
Tyson Foods Inc
Hormel Foods, LLC
Conagra Brands Inc.
Vion Food Group
*Disclaimer: Major Players sorted in no particular order
Pork Meat Market News
- December 2022: JBS SA formed an acquisition with United States pork supplier TriOak Foods. The company claims that the acquisition ensured a consistent supply of premium pork to the company.
- February 2022: North America-based Benestar Brands, a manufacturer of pork rinds, tortilla chips, and pretzel bread products, announced the acquisition of San Francisco-based 4505 Meats which specializes in the production of pork rinds and other protein-based snacks.
- January 2022: JBS SA formed an acquisition with an Australia-based pork processor, Rivalea Australia Pty Ltd. With this acquisition, JBS strengthens its position in Australia, becoming the leader in pork processing in the country, adding important brands to the portfolio, in addition to strengthening the company’s export platform.
Pork Meat Market Report - Table of Contents
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Meat Form
5.2 Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retailing
5.2.5 Other Distribution Channels
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 Rest of Asia Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 JBS SA
6.3.2 Tyson Foods
6.3.3 Danish Crown
6.3.4 China Yurun Food Group
6.3.5 Bridgford Foods Corporation
6.3.6 Hormel Foods, LLC
6.3.7 Vion Food Group
6.3.8 Monogram Food Solutions, LLC.
6.3.9 The Tönnies Group
6.3.10 Conagra Brands Inc.
6.3.11 Benester Brands
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pork Meat Market Research FAQs
What is the study period of this market?
The Pork Meat Market is studied from 2018 - 2028.
What is the growth rate of Pork Meat Market?
The Pork Meat Market is growing at a CAGR of 5.7% over the next 5 years.
Which region has highest growth rate in Pork Meat Market?
Europe is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Pork Meat Market?
Asia Pacific holds highest share in 2022.
Who are the key players in Pork Meat Market?
JBS SA, Tyson Foods Inc, Hormel Foods, LLC, Conagra Brands Inc., Vion Food Group are the major companies operating in Pork Meat Market.
Pork Meat Industry Report
Statistics for the 2023 Pork Meat market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pork Meat analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.