Market Trends of Pork Meat Industry
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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