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The pork meat market size is projected to increase by USD 220.27 million and the market size is estimated to grow at a CAGR of 8.37% between 2023 and 2028. The report offers extensive research analysis on the Pork Meat Market, with a categorization based on Product, including fresh pork meat and processed pork meat. It further segments the market by Distribution Channel, encompassing offline and online. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
One of the key factors driving the pork meat market market growth is the increasing demand for grass-fed and organic pork. The increasing demand for grass-fed pork is fuelled by its value-added benefits such as better taste and high nutritional value. In addition, with growing health consciousness, consumers are shifting toward healthier varieties of red meat products, such as organic products. Moreover, along with taste, consumers also look for healthier variations of traditional pork meats. Organic production is a sustainable and environmentally safe way of producing pork meat from pigs that are grown on organic feeds. Furthermore, organic meats are extracted from animals that are raised without the use of any antibiotics, are fed natural feed, and are not genetically modified. Thus, the meat of such animals is safe to consume. Hence, such factors are driving the growth of the market during the forecast period.
The Pork Meat Market shows an accelerated CAGR during the forecast period.
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A key factor shaping the pork meat market growth is the new pork processing technology. The increasing adoption of new technologies by various market players for the processing of pork meat is one of the trends that can positively influence the growth of the global pork meat market. In addition, this is being done to develop better-quality meat products.
For example, Memphis Meats, a food startup that aims to develop edible meat in labs, uses technology to generate muscle from a newly established pig stem-cell line, rather than taking primary cells directly from a pig. In addition, this cutting-edge technology is expected to decrease the number of animals killed for meat. Hence, the adoption of new pork processing technologies is expected to drive the growth of the global pork meat market during the forecast period.
The increasing vegan population is one of the key challenges hindering the pork meat market growth. There is an increasing global vegan population, especially in countries: the US; Australia; Germany; India; and others. In addition, vegans do not consume any products obtained from animals. Furthermore, veganism is one of the fastest-growing lifestyle and diet movements.
Moreover, the number of vegans in the UK has increased by more than 300% during the past ten years. In addition, there is an increasing popularity of veganism among the young population. For instance, around 40% of the total vegan population in the UK belongs to the age group of 15-34 years. Furthermore, players are also coming up with new vegan product categories to tap into the growing potential of the vegan population. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The increased convenience in the offline segment will increase the market growth. The offline segment includes supermarkets, hypermarkets, specialty stores, hard discount stores, and convenience stores. In addition, Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target) are some of the largest retail chains that have a separate retailing segment for pork meat at their stores. Moreover, market players are using promotional and marketing strategies such as branding through signages and discounts on product packages at their stores. In addition, retail stores such as Walmart and Walgreens have been offering pork meat on their shelves for a long time. Furthermore, they invest significantly in brick-and-mortar organized retail stores to increase their regional and global shares in the market. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The fresh pork meat segment is estimated to witness significant growth during the forecast period. The fresh pork meat segment comprises chilled and frozen, canned processed, and fresh processed. There is a growing popularity of fresher and less processed meat selections among consumers who are growing more health conscious. In addition, fresh processed pork meats include fewer additives, preservatives, and processing techniques, they are thought to be healthier.
The fresh pork meat segment was the largest segment and was valued at USD 4.72 billion in 2018.
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Moreover, the fresh processed segment is in line with the growing customer preference for natural and organic food goods. In addition, there is a growing trend among consumers to choose pork products without artificial additives, hormones, and antibiotics. Furthermore, concerns about food safety and possible health hazards related to highly processed meats have surfaced in recent years. In addition, the popularity of cooking shows, food blogs, and social media platforms dedicated to sharing recipes and cooking tips has contributed to the growth of the fresh processed segment. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
APAC is estimated to contribute 49% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are fuelling the growth of the market in APAC include rising health awareness, the convenience factor of processed meats, and the vastly expanding fast-food chains. The increasing awareness of consumers about health and wellness lifestyle trends. In addition, the increasing awareness of consumers about health and wellness lifestyle trends is expected to increase the sales of processed meat, thereby accelerating the growth rate in the global pork meat market. Moreover, the demand for pork is high among various Indian states such as Assam, Nagaland, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Sikkim, Tripura, Bihar, Jharkhand, West Bengal, Goa, and Kerala. Hence, such factors are driving the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global pork meat market witnessed a significant slowdown due to the shutdown of slaughterhouses, labor shortages, and disruptions in the feed and other input supply. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in slaughterhouses. Such factors are expected to drive the market during the forecast period
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The pork meat market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pork meat market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Pork Meat Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.37% |
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Market Growth 2024-2028 |
USD 220.27 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.63 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 49% |
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Key countries |
US, China, Germany, Russia, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bridgford Foods Corp., Charoen Pokphand Foods PCL, China Yurun Food Group Ltd., Conagra Brands Inc., Cooperl, Cranswick Plc, Danish Crown AS, Dawn Pork and Bacon, Gordon Food Service Inc., Hormel Foods Corp., Iowa Select Farms, JBS SA, New Hope Liuhe Co. Ltd., The Maschhoffs LLC, Toennies Group, Triumph Foods LLC, Tyson Foods Inc., Vion Holding NV, WH Group Ltd., and VALL COMPANYS GROUP |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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