0
2020
Pork Meat Market

Pork Meat Market

by Type (Chilled and Frozen), Packaging (Store Wrap, Modified Atmosphere Packaging, Vacuum Packaging, Shrink Bags, and Others), and Application (Household and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2027

Report Code: A05283
Pages: 220
Oct 2020 | 14599 Views
Author(s) : Sumesh K , Roshan D
Tables: 44
Charts: 44
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The global pork meat market size was valued at $236,112.7 million in 2019, and is projected to reach $257,874.5 million by 2027, registering a CAGR of 3.9% from 2021 to 2027. The frozen segment was the highest contributor to the pork meat market in 2019, and is estimated to grow at a CAGR of 3.9% during the forecast period. Asia-Pacific was the highest revenue contributor, accounting for more than half of the global market share 2019, and is estimated to grow at a CAGR of 4.5% through the forecast period.  

Pork is the meat of a domestic pig., which is widely adopted as a staple food across the globe, excluding some countries in the Middle East. Pork meat is not only appetizing but also has high nutritional profile. In addition, it acts as a rich source of protein and fats as well as has high amounts of selenium, vitamin B, and thiamin, which make it a popular meal of choice for fitness enthusiasts who are keen on putting on muscle mass. Pork is a popular choice among consumers in fast food outlets and restaurants. A number of quick service restaurants are offering pork as topping for French fries and burgers.

Pork-Meat-Market,-2021-2027

Pork meat is included in the category of products that is purchased by consumers frequently. Hence, the demand for such products remains consistent among consumers. The outbreak of the novel coronavirus has significantly affected the growth of the market worldwide. There has been slight decrease in sales of pork meat products due to the disruption of the supply chain and reduction in the out-of-home consumption of food during the COVID-19 pandemic.

The growth of the pork meat market can be attributed to changes in the food consumption pattern of people all around the world. The expansion of retail market and easy availability of the product through various sales channel make it convenient for consumers to purchase packaged pork meat, which drive the sales figures. However, rise in the adoption of veganism and stringent law implemented against animal cruelty act as the major restraints of the global pork meat market. On the contrary, increase in popularity for organic pork meat and clean label products is expect to offer lucrative opportunities for the expansion and the global pork meat market growth.

The global pork meat market is segmented into type, packaging, application, and region. Depending on type, the market is bifurcated into chilled and frozen. On the basis of packaging, it is classified into store wrap, modified atmosphere packaging, vacuum packaging, shrink bags, and others. By application, the it is fragmented into household and commercial. Region wise, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Taiwan, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

Pork Meat Market
By Type

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Frozen was the fastest growing market.

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Depending on the global pork meat market analysis by type, the frozen segment accounted for the highest share in 2019. The frozen segment is growing manifold due to rapid increase in consumption of meat, poultry, and seafood. However, the chilled segment is expected to witness the modest growth rate through the forecast period. The growth of this segment can be attributed to the fact that consumers often prefer chilled pork meant than the frozen meat.

Pork Meat Market
By Packaging

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The store wrap segment was the fastest growing segment.

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By packaging, the shrink bags segment accounted for the largest portion of the global pork meat market share in 2019, and is estimated to dominate the market under the packaging category throughout the forecast period. This is attributed to the fact that shrink bags are primarily used in food service industries as they are most suited in keeping perishable items fresh while being transported. Moreover, the number of food service outlets around the world has been increasing as a result the popularity of shrink bags to package pork meat. However, the store wrap segment is expected to witness robust CAGR of 4.6% through the forecast period.

Pork Meat Market
By Application

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The commercial segment was the fastest growing segment.

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Depending on the global pork meat market forecast by application, the commercial segment accounted for the highest share in 2019. The growth in the commercial application of pork can be directly contributed to the growing working population and the trend of consuming meals outside homes. On the contrary, the outbreak of coronavirus has reduced the demand for pork in commercial establishments, and as a result, the consumption of pork meat through these establishments has been impacted negatively. The household segment is projected to witness a notable growth rate throughout the forecast period. This is attributed to the fact that the household consumption of pork has increased considerably in Asia-Pacific, owing to it being a staple food. Moreover, various benefits associated with pork meat such as it is a rich source of proteins and vitamins  and its luscious taste boost the growth of pork meat market. Moreover, the demand for pork meat for home consumption has increased, due to implementation of stringent lockdown, which, in turn, increased the consumption of home food.

Pork Meat Market
By Region

2027
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific was the most prominent regional segment.

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Region wise, Asia-Pacific was the most prominent market for pork meat in 2019, and is expected to exhibit high growth rate during the forecast period. Europe and North America are expected to witness steady growth rate throughout the forecast period, owing to the presence of a large number of local players.

The players in the pork meat industry have adopted product launch as their key development strategy to increase profitability and improve their stance in the pork meat market. The key players profiled in the report include WH Group, JBS S.A., Smithfield Foods, Triumph Foods, Danish Crown, Tyson Foods Inc., Tönnies, Yurun Group, Vion Food Group Ltd., and Shuanghui Development.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current pork meat market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing pork meat market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

Pork Meat Market Report Highlights

Aspects Details
By Type
  • Chilled
  • Frozen
By Packaging
  • Store Wrap
  • Modified Atmosphere Packaging
  • Vacuum Packaging
  • Shrink Bags
  • Others
By Application
  • Household
  • Commercial
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Taiwan, Japan, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Argentina, South Africa, Rest of LAMEA)
Key Market Players WH Group, JBS S.A., Smithfield Foods, Triumph Foods, Danish Crown, Tyson Foods Inc., Tönnies, Yurun Group, Vion Food Group Ltd., Shuanghui Developmen
 

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Various CXOs from leading companies perceive that there has been a change in consumer lifestyle, which has affected the food consumption pattern among people all around the globe. Presently, food preparation at home is considered as a time-consuming process, owing to long working hours and rise in consumer income. Moreover, change in eating habits and busy lifestyle are increasing the consumption for protein-rich food, which is anticipated to drive the growth of the global pork meat market.

Pork meat is a staple food in a number of Asia-Pacific countries, and is consumed almost on a daily basis by the local populace with the exception of countries such as India and Pakistan. Packaged pork meat has gained wide traction in the last few years in various sectors due to its luscious taste and high nutritional profile.

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FREQUENTLY ASKED QUESTIONS?

A. The global pork meat market size was valued at $236,112.7 million in 2019, and is projected to reach $257,874.5 million by 2027.

A. The outbreak of the novel coronavirus has significantly affected the growth of the market worldwide.

A. The sample for the report can be obtained from the allied market research website.

A. The pork meat market is expected to grow at the CAGR of 3.8% from 2021-2027.

A. The global pork meat market is segmented into type, packaging, application, and region.

A. Pork meat is being widely adopted in the food service industry.

A. The active players profiled in the report are WH Group, JBS S.A., Smithfield Foods, Triumph Foods, Danish Crown, Tyson Foods Inc., Tönnies, Yurun Group, Vion Food Group Ltd., and Shuanghui Development.

A. The outbreak of the novel coronavirus has significantly affected the growth of the market worldwide. There has been slight decrease in sales of pork meat products due to the disruption of the supply chain and reduction in the out-of-home consumption of food during the COVID-19 pandemic.

A. Increase in popularity for organic pork meat and clean label products is expect to offer lucrative opportunities for the expansion and the global pork meat market

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