Major players in the pork meat market are Bridgford Foods Corporation, China Yurun Food Group Limited, Cranswick plc, Danish Crown, Smithfield Foods Inc. , JBS S. A. , Tönnies Holding, Tyson Foods Inc. , Vion NV, WH Group, Triumph Foods, Conagra Brands Inc.
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, Cherkizovo, Craig Mostyn & Co Pty Ltd., Dawn Meats and Hormel Foods Corporation.
The global pork meat market is expected to grow from $235.48 billion in 2021 to $242.04 billion in 2022 at a compound annual growth rate (CAGR) of 2.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $258.39 billion in 2026 at a CAGR of 1.6%.
The pork meat market consists of sales of pork meat by entities (organizations, sole traders, and partnerships) that is classified as a red meat because it contains more myoglobin than chicken or fish.Pork is the name given to the meat of a domestic pig.
Pork meat is the most commonly consumed meat which is a good addition to a healthy diet because it contains a variety of nutrients and minerals such as phosphorus, selenium, and thiamine, vitamins, and high-quality protein. The pork meat is cured and processed to extend its shelf life.
The main types of pork meat are chilled, frozen, and canned/ preserved.Chilled pork meat means chilling meat within 48 hours of a death to temperatures below 0 ° Celsius without freezing and storing it at these temperatures for several weeks.
The different packaging includes store wrap, modified atmosphere packaging, vacuum packaging, shrink bags and is available at various distribution channels such as supermarkets/hypermarkets, convenience stores, e-commerce, and others.
Asia Pacific was the largest region in the pork meat market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Plant-based pork meat is a key trend gaining the popularity in the pork meat market.Plant-based pork is a pig replacement created with heme (or “”””haem”””” in British English), an iron-containing molecule obtained from plants that resemble blood.
In recent years, a growing amount of data has linked meat consumption to ailments such as heart disease, cancer, and diabetes.So, people can reduce their weekly pork intake by introducing plant-based foods into their diet, boosting their overall health in the process.
For example, in September 2020, Impossible Foods, a US based company that produces plant-based substitutes for meat products launched plant-based pork ‘Impossible Sausage’ in Hong Kong.
The growing food and beverage industry is expected to drive the growth of the pork meat market in the coming years.The food and beverage sector encompasses all businesses involved in the processing, packaging, and distribution of raw food materials.
This includes both fresh and packaged foods, as well as alcoholic and non-alcoholic beverages.Pork is a good source of high-quality protein, which is an important nutrient for human health.
Once consumed, it includes large levels of amino acids. For example, according to the Federal Communications Commission, Food and beverage production sales climbed 3.5% year over year (YoY) in 2020, from $118.7 billion in 2019 to $122.9 billion in 2020. As a result, China’s worldwide meat imports increased by 59.6% in 2020 compared to the previous year. Therefore, the growing food and beverage sector propels the growth of the pork meat market.
In August 2021, JBS S.A., a Brazil-based meat processing company acquired Rivalea Holdings Pty. Ltd., for an undisclosed amount. The acquisition will expand JBS’ product portfolio in Australia, allowing for increasing volumes of value-added pork products in the Primo ham, bacon, and small business segments, as well as additional domestic and international pork sales opportunities. Rivalea Holdings Pty. Ltd is an Australia based company that produces pork meat.
The countries covered in the Pork Meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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