NEW
YORK, March 20, 2024 /PRNewswire/ -- The Pork
Meat Market to grow by USD 220.27
million at almost 8.37% from 2024 to 2028, according to
the latest research report from Technavio. The rising demand
for grass-fed and organic pork is a key growth driver. Consumers
seek these options for their superior taste and higher nutritional
value, driven by increasing health consciousness. The shift towards
healthier red meat choices, such as organic pork, reflects changing
consumer preferences. Organic production methods, including
antibiotic-free and non-GMO feeds, ensure safety and
sustainability. These factors are propelling market growth as
consumers increasingly opt for healthier and environmentally
friendly meat options.
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Market Report
Coverage
|
Details
|
Page number
|
160
|
Base year
|
2023
|
Historic
period
|
2018-2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.37%
|
Market Growth
2024-2028
|
USD 220.27
million
|
Market
structure
|
Fragmented
|
YoY
growth 2023-2024(%)
|
7.63
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 49%
|
Key
countries
|
US, China, Germany,
Russia, and Brazil
|
The report on the pork meat market provides a holistic update,
market size and forecast, trends, growth drivers, and challenges,
as well as vendor analysis.
Market Dynamics:
The new pork processing technology is shaping market
growth:
A significant trend driving market growth is the adoption of
advanced pork processing technology. Market players are
increasingly leveraging new technologies to enhance the quality of
pork products. Memphis Meats, for instance, utilizes lab-based
methods to cultivate meat from pig stem cells, reducing the need
for animal slaughter. This innovative approach is expected to
revolutionize meat production and decrease reliance on traditional
farming methods. Consequently, the adoption of cutting-edge pork
processing technologies is anticipated to fuel market growth in the
forecast period.
The rising vegan population poses a significant challenge to
market growth. With veganism becoming increasingly popular
globally, especially among young demographics, there's a growing
segment of consumers who abstain from animal-derived products. This
trend has led to a surge in demand for vegan alternatives,
prompting market players to innovate and introduce new vegan
product categories. Consequently, the expanding vegan demographic
presents a substantial obstacle to market expansion in the forecast
period.
- The report offers an up-to-date analysis regarding the current
global market scenario, the latest trends and drivers, and the
overall market environment. The market is driven by Increasing
demand for grass-fed and organic pork. The increasing demand
for grass-fed and organic pork is fueled by its superior taste and
nutritional benefits. Health-conscious consumers are opting for
healthier red meat options, such as organic products. Organic
production methods, free of antibiotics and genetic modification,
offer environmentally sustainable pork, driving market growth.
Market Segmentation:
The Pork Meat Market is segmented by Product (Fresh pork meat
and Processed pork meat), Distribution Channel (Offline and
Online), and Geography (APAC, Europe, North
America, South America, and
Middle East and Africa).
Increased offline convenience drives market growth, with
supermarkets, hypermarkets, and specialty stores playing key roles.
Major retail chains like Tesco, Walmart, and Target offer dedicated
pork meat sections, employing branding and promotional strategies
to attract customers. Investments in brick-and-mortar retail expand
market reach, fueling segment growth and overall market
expansion.
- The fresh pork meat segment sees significant growth, including
chilled, frozen, and processed varieties. Increasing health
consciousness among consumers drives demand for less processed
options, favoring fresher selections with fewer additives. Growing
preference for natural and organic foods further boosts this
segment, influenced by concerns about food safety and the
popularity of cooking media.
- Technavio analysts outline regional trends driving APAC's
market growth, including health awareness, processed meat
convenience, and expanding fast-food chains. Increased consumer
focus on wellness drives processed meat sales, particularly in
states like Assam, Nagaland, and Kerala, fueling market growth in
APAC.
This report presents a detailed picture of the market by way of
study, synthesis, and summation of data from multiple sources by an
analysis of key parameters.
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Companies Mentioned
- 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.
- VALL COMPANYS GROUP
Charoen Pokphand Foods PCL: The company offers pork
meat which provides high quality meat with food safety standard to
create alternative choice of consumers.
Conagra Brands Inc: The company offers pork meat
under the brands Banquet, Conagra, and Angies Boomchickapop.
Cooperl: The company offers pork meats such as Pork
boneless backs and Pork tenderloin.
Analyst Review:
The Global pork meat market is witnessing steady growth, driven
by a notable CAGR (Compound Annual Growth Rate), particularly in
the frozen segment. In regions like Asia-Pacific, pork meat remains a significant
source of protein, fats, selenium, Vitamin B, and thiamin, catering
to diverse consumer preferences and dietary needs. Despite
challenges posed by the novel coronavirus pandemic, the market has
adapted to shifting food consumption patterns, with increased
demand observed in retail markets, fast food outlets, restaurants,
and quick service restaurants.
Fast food favorites like French fries and burgers continue to
bolster pork meat consumption, appealing to fitness enthusiasts and
consumers seeking convenient meal options. However, the rise of
veganism and concerns about animal cruelty have fueled demand for
organic pork meat and clean label products, prompting manufacturers
to explore sustainable and ethical production practices.
Differentiated by type (chilled and frozen), packaging options
(store wrap, modified atmosphere packaging, vacuum packaging,
shrink bags, among others), and applications (household and
commercial), the pork meat market caters to a wide range of
consumer preferences and industry needs. With a robust presence in
regions like North America,
Europe, Asia-Pacific, and LAMEA, the market continues
to evolve to meet the growing demand for meat, poultry, and seafood
consumption, especially in food service industries and retail
outlets across the Middle
East.
Market Overview:
The global pork meat market is witnessing steady growth, driven
by factors such as rising protein consumption, particularly in
fast-food outlets and restaurants. The frozen segment is gaining
traction, especially in the Asia-Pacific region, while fitness enthusiasts
are increasingly incorporating pork into their diets. Moreover, the
pandemic has influenced food consumption patterns, leading to a
surge in retail sales channels. Organic pork meat and clean label
products are gaining popularity due to increased awareness of
animal cruelty and health concerns. With innovative packaging
options like shrink bags and modified atmosphere packaging, the
market is catering to the demand for convenient and perishable
items in both household and commercial applications across various
regions.
Related Reports:
The Meat and Poultry Processing Equipment
Market size is estimated to grow at a CAGR of
6.03% between 2022 and 2027 and the size of the market is
forecast to increase by USD 5.73 billion.
The Meat Packaging Market size is projected to
increase by USD 2,458.43 million and the market
size is estimated to grow at a CAGR
of 4.98% between 2023 and 2028.
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Key Topics Covered:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions. With over 500 specialized analysts,
Technavio's report library consists of more than 17,000 reports and
counting, covering 800 technologies, spanning across 50 countries.
Their client base consists of enterprises of all sizes, including
more than 100 Fortune 500 companies. This growing client base
relies on Technavio's comprehensive coverage, extensive research,
and actionable market insights to identify opportunities in
existing and potential markets and assess their competitive
positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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SOURCE Technavio