Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Global Hog Production & Pork Market by Form (Fresh, Processed), Breeds (Duroc, Hampshire, Landrace), Pork Cuts, Distribution Channel, End-User - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Hog Production & Pork Market size was estimated at USD 242.25 billion in 2023, USD 252.96 billion in 2024, and is expected to reach USD 328.79 billion by 2030, growing at a CAGR of 4.45%.
Shifts in dietary trends, population growth, and increasing income levels in emerging economies drive the demand for pork products. Moreover, growing consumer awareness about sustainable farming practices and animal welfare standards can influence consumer choices and production methods.
However, regulations concerning environmental protection, animal welfare, and food safety can increase production costs and limit market expansion. Volatility in feed prices, primarily corn and soybean, can affect profitability and production levels. Furthermore, innovations in breeding, feeding, and processing technologies enhance production efficiency and product quality. Improvements in cold chain logistics and packaging can reduce waste and enhance the safety and quality of pork products.
Form: Growing preference for processed pork due to longer shelf life and ongoing innovation in flavors and packaging
Fresh pork encompasses products that have not undergone any significant processing beyond basic butchery. This includes cuts such as pork chops, roasts, ribs, and tenderloin. Consumers who prefer fresh pork typically value the quality and versatility of the meat, often seeking out options that they can season and cook according to personal taste preferences. Freshness, quality of the meat, and ethical sourcing are key considerations for these consumers.
Distribution Channel: Increasing significance online sales channel due to its convenience and a wide selection
Butcher shops cater to consumers seeking fresh, high-quality pork with the added value of expert advice and the possibility of custom cuts. These establishments pride themselves on sourcing locally, often from farms practicing sustainable and humane rearing methods. This channel attracts consumers who prioritize meat quality over price and appreciate the traditional shopping experience. Online retailers fulfill the needs of convenience-driven consumers looking for easy access to a variety of pork products. This channel has grown exponentially, particularly appealing to tech-savvy consumers and those with limited access to physical stores.
Online platforms offer a broad selection, including organic and specialty meats, with the added convenience of home delivery. Supermarkets serve the mass market, offering convenience and competitive pricing for a wide range of consumers. This channel is preferred by individuals seeking one-stop shopping for all household needs, including a variety of pork products. Supermarkets cater to both price-sensitive customers and those looking for premium options, albeit with less focus on specialty cuts.
Regional Insights
In the Americas, both the United States and Canada are prominent producers and consumers of pork. The demand in these countries is characterized by a preference for diverse pork products, from fresh meat to processed items. The United States market shows a robust demand for convenience foods, such as pre-marinated pork cuts, reflecting a fast-paced lifestyle. Canadian consumers demonstrate a strong interest in ethically produced and environmentally sustainable pork, driving producers to adopt more responsible farming practices.
The EU countries exhibit a high demand for pork, with a keen focus on quality, traceability, and sustainability. European consumers generally prefer locally sourced and organic pork products, influenced by strong regulatory standards on food safety and animal welfare. The Middle East has a limited market for pork due to religious restrictions, with demand concentrated among expatriate communities.
The Asia Pacific region is characterized by diverse dietary habits, but pork plays a crucial role in many countries, especially in China, Japan, and, to a lesser extent, India. In China, pork is a staple, and the demand for pork products is consistently high, driving both domestic production and imports. Japan, with its high standards for quality, focuses on premium pork products.
Recent Developments
Enhancing Thai Pork Production Through Strategic Cargill-VPF Group Partnership
Cargill and VPF Group have forged a strategic partnership that positions Cargill to produce swine feed utilizing cutting-edge technologies at VPF's Chiang Mai facility, in Thailand. This collaboration is expected to elevate the standards of swine feed production, focusing on nutritional optimization, strict safety measures, and enhancing animal health and performance. This initiative aims to improve farm productivity for VPF, ensuring access to high-quality feed that will contribute to safer and more nutritious pork for Thai consumers. [Published On: 2024-03-11]
Strategic Investments Propel Canadian Pork Industry Towards Sustainable Innovation and Global Competitiveness
The Canadian government, through the Honourable Marie-Claude Bibeau and on behalf of the Honourable Lawrence MacAulay, has announced a strategic funding initiative of up to USD 10.6 million to Swine Innovation Porc (SIP) through the AgriScience Program, Clusters Component of the Sustainable Canadian Agricultural Partnership. This investment aims to solidify Canada's stance in the pork market by funding strategic research focused on enhancing environmental and climate performance, improving productivity and product quality, animal welfare, combating antimicrobial resistance, and bolstering competitiveness. [Published On: 2024-02-20]
Partnership Between Cooperl and Volur to Leverage AI for Enhanced Pork Processing Efficiency
Cooperl has joined forces with the global software company Volur to introduce artificial intelligence technology to improve pork carcass sorting and cutting processes. This collaboration targets the enhancement of Cooperl's operational decisions concerning carcass selection and primal cut optimization at their Lamballe facility, anticipating superior inventory management and revenue generation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $252.96 Billion |
| Forecasted Market Value (USD) by 2030 | $328.79 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Shifting trends towards consuming dietary products coupled with economic growth
- Growing consumer awareness about sustainable farming practices
Restraints
- Volatility in feed prices
Opportunities
- Improvements in cold chain logistics and packaging
- Ongoing innovations in breeding, feeding, and processing technologies
Challenges
- Regulations concerning environmental protection, animal welfare, and food safety
Market Segmentation Analysis
- Form: Growing preference for processed pork due to longer shelf life and ongoing innovation in flavors and packaging
- Distribution Channel: Increasing significance online sales channel due to its convenience and a wide selection
Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Companies Featured
- Australian Meat Company
- Beauvallet
- Cargill, Incorporated
- Charoen Pokphand Group Co., Ltd.
- China Yurun Food Group Limited
- Clemens Food Group
- COFCO Corporation
- Fortune Fish & Gourmet
- Hormel Foods Corporation
- Iowa Select Farms
- JBS USA
- Meat Products of India Ltd.
- Meatable B.V.
- Muyuan Food Co., Ltd.
- Muller Fleisch GmbH
- NH Foods Ltd.
- Perdigao by BRF S.A.
- Redefine Meat Ltd.
- Schwartz Farms, Inc.
- Smithfield Foods, Inc.
- Sysco Corporation
- Triumph Foods
- Tyson Foods, Inc.
- Vion N.V.
- WH Group Limited
- Wholesome Foods, Inc.
Market Segmentation & Coverage
Form
- Fresh
- Processed
Breeds
- Duroc
- Hampshire
- Landrace
- Yorkshire
Pork Cuts
- Belly
- Ham
- Loin
- Ribs
- Shoulder
Distribution Channel
- Butcher Shops
- Online Retailers
- Supermarkets
End-User
- Food Processing Industry
- Food Service Providers
- Household
For more information about this report visit https://www.researchandmarkets.com/r/xwn4h3
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