Pork Meat Market to grow by USD 220.27 million, The increasing demand for Grass-Fed and Organic Pork to boost market growth, Technavio

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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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.

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SOURCE Technavio