Global Hog Production and Pork Market to Reach ~US$ 464 Billion by 2027-End, Sustainable Production Approaches Key to Growth: Transparency Market Research
According to the study by Transparency Market Research, the global market is projected to reach whopping valuation of US$ 464 bn by 2027-end.
ALBANY, New York, Feb. 27, 2020 /PRNewswire/ -- Advances in industrialized pork production facilities with the focus on sustainability have been crucial in meeting the requirements of meat consumption in large section of populations worldwide. Focus of producers toward refurbishing breeding farms and focus of stakeholders on epidemic prevention will continue adding momentum to the revenue generation in the hog production and pork market. According to the study by Transparency Market Research, the global market is projected to reach whopping valuation of US$ 464 bn by 2027-end. In 2019, the market stood at ~US$ 399 bn in 2019, and is estimated to garner CAGR of ~2% from 2019 to 2027.
Major meat consuming countries benefit from adoption of freezing techniques for extending the shelf-life of pork products, a key aspect of the market evolution.
"Favorable government policies to improve pork production system boost the quality of the meat, propelling the hog production and pork market growth in Asia Pacific. Additionally, key players should focus on modernizing their production facilities and adopt systems that prevent epidemic diseases," notes analysts at TMR.
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Key Findings of Hog Production and Pork Market Study
- Geographically, North America and Europe jointly held share of ~27% in the global hog production and pork market in 2018; the regions have been early adopters of modernized production and farming methods.
- The Asia Pacific market stood at ~US$ 257 bn in 2018, an equivalent of share of ~66% of the global market. The region leads the pack.
- Of all the forms in the global market, the processed is anticipated to be the top segment of the hog production and pork market in 2019, and it held 59.5% share therein.
- The fresh segment accounts for 40.5% of the hog production and pork market, vis-à-vis value.
- Of the various types, the loin of pork holds the dominant share in hog production and pork market, amounting to ~25%; this is trailed by belly/side of pork/bacon, and ribs segments.
Explore 162 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Hog Production and Pork Market (Form: Fresh and Processed; Type: Leg/Ham, Loin of Pork, Belly/Side of Pork/Bacon, Ribs, Shoulder/Boston Butt, Picnic Shoulder/Hand, and Others; End Use: Food Processing Industry, Food Service Providers, and Household/Retail; and Distribution Channel: B2B/Direct, Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Butcher Shop/Wet Markets, and Online Retailing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/hog-production-pork-market.html
Hog Production and Pork Market: Key Driving Factors
The hog production and pork market has evolved substantially over the years, the growth dynamics supported by changing preferences of meat consumers and pork production and processing methods. A few factors are worth noticing:
- Increased focus on safety and nutritional value in meat has been key to strides the market has witnessed in recent years. This trend is key to market growth in the light of pork being the most widely consumed meat world over, accounting for more than 36% of consumptions, according to the FAO.
- Pork consumption has risen in emerging economies, particularly China and India, on the back of growing disposable incomes and demand for nutritional meat products. The shift from shelf-stable processed pork to chilled processed pork is one of the key trends.
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Key Impediments to Hog Production and Pork Market Players
Rise in Swine Flu cases in major pork consuming nations have been a major challenge to stakeholders in the hog production and pork market. The marked prevalence of African Swine Fever (ASF) is notable here. The dramatic rise in such cases is evident in parts of Asia Pacific, notably in Vietnam, Laos, and Cambodia. Pork producers have suffered huge financial losses due to ASF, and the face of pork industry has changed dramatically in the affected regions. Hence, it is imperative that pork producers and governments make concerted efforts in preventing the epidemic diseases that can disrupt the hog production and pork market.
Another key restraint to the growth of the market is mounting concern about environmental impacts associated with pork production, globally. Adherence to organic certification may help producers expand their consumer reach, especially in major meat-producing regions.
Hog Production and Pork Market: Region-wise Analysis
The market has evolved rapidly in Asia Pacific, particularly in developing countries. The overall growth in the regional market is largely due to high production and consumption of pork in China. In addition, continuous advancements in supply chain imparts the growth impetus. Rise in demand for pork in meeting protein consumption among consumers is also cementing the potential of the Asia Pacific market.
Widespread adoption of advanced pork breeding techniques and sustainable production methods have kept the North America market increasingly lucrative over the past few years.
Analyze hog production and pork market growth in 30+ countries including US, Canada, Germany, United Kingdom, GCC countries, India, China, and Japan. Request a sample of the study.
Competition Landscape
Well-entrenched players are unveiling new business-to-business websites to attract consumers. Top players in the hog production and pork market have increased their investing in research and development to improve processing techniques and production methods. Several players are leaning on expanding the footprint of their pork production facilities in new geographies. Both new entrants and established companies are striving for adopting organic certifications. In the coming years, the entry of several local brands is likely to up the ante for incumbents.
Some of the promising players in the hog production and pork market are JBS S.A, Seaboard Corporation, Charoen Pokphand Group, Wan Chau International Limited, and Smithfield Foods, Inc.
The hog production and pork market is segmented on the basis of:
- Form
- Fresh
- Processed
- Type
- Leg /Ham
- Loin of Pork
- Belly/ Side of Pork /Bacon
- Ribs
- Shoulder/ Boston Butt
- Picnic Shoulder/Hand
- Others
- End Use
- Food Processing Industry
- Food Service Providers
- Household/Retail
- Distribution Channel
- B2B/Direct
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Butcher Shop/Wet Markets
- Online Retailing
- Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- EU-4
- U.K.
- BENELUX
- Nordic
- Russia
- Rest of Europe
- Middle East & Africa
- South Africa
- Nigeria
- Malwai
- Angola
- Uganda
- Rest of MEA
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
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