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Global Pork Market is expected to be US$ 418.37 Billion by 2028

ReportLinker
ReportLinker

According to the research. Pork is the most widely and popular consumed meat source worldwide. The global swine industries are very dynamic and the primary protein source for millions across numerous cultures.

New York, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pork Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" - https://www.reportlinker.com/p06381996/?utm_source=GNW
Pork is cheaper than any other meat source, which is a significant factor in its high consumption. A significant middle-class population, growing disposable income, and changing consumer preferences are levitating pork demand. However, the rise in the adoption of veganism and stringent law against the animal cruelty act are the major restraints of the global pork meat market.

The growth of the pork meat market can be attributed to changes in the food consumption pattern of people worldwide. In addition, the expansion of the retail market and easy availability of the product through various sales channels make it convenient for consumers to purchase packaged pork meat, which drives the sales figures. Worldwide Pork Market was valued US$ 254.53 Billion in 2022.

Some of the Pork Market Trends are

Frozen pork meat is growing manifold due to the rapid increase in consumption of meat.
The growth in the online application of pork purchasing can be directly attributed to the surge in the working population and the trend of consuming meals outside homes.
Increasing the popularity of organic pork meat and clean-label products is expected to offer lucrative opportunities for expansion and the growth of the global pork meat market.
Consumers increasingly demand ready-to-eat and ready-to-cook pork meat products with better taste and quality. The increasing awareness about the risks associated with using nitrate for curing purposes in processed meat has enabled manufacturers to replace nitrate with other curing agents, such as celery powder, to achieve the same effect. Such factors register a significant demand for nitrite-free processed meat products such as bacon in European countries.
Household consumption of pork has increased considerably because it is a staple food and has various benefits associated with pork meat, such as its rich source of proteins and vitamins and its luscious taste.

Global Pork Industry is expected to grow with a CAGR of nearly 8.64% from 2022 to 2028

The pig industry continues to thrive in areas with plentiful access to grains and protein sources. Pigs are adaptable to various climatic conditions, as evidenced by a large number of breeds present throughout the world. According to USDA, in 2021, worldwide, over 752 million pigs, increasing from the previous year. In this same period, China was home to the most pig and head. In other meaning, China produced more than half of the global pig population, and Europe and the United States were second and third. Brazil, Canada, Mexico, the Philippines, South Korea, Japan, and Hong Kong was in the top 10 producing countries.

Pork consumption is very high in North America, Europe, and developing Asian regions, such as Japan and China. According to the United States Department of Agriculture’s National Agricultural report, the most commonly consumed meat in the world is pork and poultry. The factors influencing change are generally related to economic efficiency and competition from alternative protein sources. The global trend is for fewer producers responsible for more significant numbers of pigs and more concentration within the swine industry. The ability to maintain economic viability is a function of providing optimal facilities, genetics, nutrition, and health programs to the pig in a system that addresses the cost of production and generates revenue from the marketing of a high-quality product.

Asia is the leading pork consumer, with more than half of the world’s production. Apart from this, South Korea, Taiwan, and Japan are the markets for pork consumption, while Vietnam and the Philippines are emerging markets. Pork meat has been consumed in the East Asian region since ancient times and is the most preferred meat due to its taste and fat content.

The Five biggest imported pork markets are Japan, mainland China, Mexico, Italy, and South Korea. During 2022, Asian countries imported the highest worth of pork, of the world’s total. Europe is also one of the biggest pork importer. Some of import were bought by customers in Latin America excluding Mexico but including the Caribbean, Oceania led by Australia and New Zealand, and Africa.

Asia Pacific is the world’s largest exporter of pork, followed by Europe and North America. In contrast, China, the U.S., Canada, Brazil, and European countries are the major pork exporters. In global pork exports, European Union maintained its leadership. The U.S., Canada, and Brazil ranked top five in world pork exports.

The pork meat players have adopted new product launches as their key development strategy to maintain their presence in the pork meat market. Some key players in the report include JBS S.A., Tyson Foods, Pilgrim’s pride corporation, Danish crown group, Vion Food Group, WH Groups, Hormel Foods Corporation, and Muyuan Foods.

The report titled “Global Pork Market By Production (China, European Union, United States, Brazil, Russia, Vietnam, Philippines, Canada, South Korea, Mexico, Japan and Others), Consumption (China, European Union, United States, Russia, Brazil, Vietnam, Japan, Mexico, South Korea, United Kingdom, Philippines and Others.), Import (Japan, China, Mexico, United Kingdom, South Korea, United States, Hong Kong, Philippines, Canada, Australia, Vietnam and Other), Export (European Union, United States, Canada, Brazil, United Kingdom, Mexico, China, Chile, Russia, Australia, Singapore and Others) Company (JBS S.A., Tyson Foods, Pilgrim’s pride corporation, Danish crown group, Vion Food Group, WH Groups, Hormel Foods Corporation, and Muyuan Foods)” provides a complete analysis of global Pork industry.

Global Pork Producing Countries:
1. China
2. European Union
3. United States
4. Brazil
5. Russia
6. Vietnam
7. Philippines
8. Canada
9. South Korea
10. Mexico
11. Japan
12. Others

Global Pork Consuming Countries
1. China
2. European Union
3. United States
4. Russia
5. Brazil
6. Vietnam
7. Japan
8. Mexico
9. South Korea
10. United Kingdom
11. Philippines
12. Others

Global Pork Importing Countries
1. Japan
2. China
3. Mexico
4. United Kingdom
5. South Korea
6. United States
7. Hong Kong
8. Philippines
9. Canada
10. Australia
11. Vietnam
12. Other

Global Pork Exporting Countries
1. European Union
2. United States
3. Canada
4. Brazil
5. United Kingdom
6. Mexico
7. China
8. Chile
9. Russia
10. Australia
11. Singapore
12. Others

Company Analysis: All the companies have been studied from three points
•    Overview
•    Recent Developments
•   Sales Analysis

Companies Covered
1. JBS S.A.
2. Tyson Foods
3. Pilgrim’s pride corporation
4. Danish crown group
5. Vion Food Group
6. WH Groups
7. Hormel Foods Corporation
8. Muyuan Foods
Read the full report: https://www.reportlinker.com/p06381996/?utm_source=GNW

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