New York, April 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pork Meat Global Market Report 2023" - https://www.reportlinker.com/p06221932/?utm_source=GNW
, Cherkizovo, Craig Mostyn & Co Pty Ltd., Dawn Meats, and Hormel Foods Corporation.
The global pork meat market is expected to grow from $346.40 billion in 2022 to $377.80 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pork meat market is expected to reach $526.02 billion in 2027 at a CAGR of 8.6%.
The pork market consists of sales of frozen pork meat, fresh/ chilled pork meat, canned pork meat, and other pork meat.The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Pork meat is defined as food products that are slaughtered and used for human consumption by processing and preserving pork meat by smoking, salting, fermenting, or adding any chemicals.
Asia-Pacific was the largest region in the pork meat market in 2022. The regions covered in the pork meat report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pork meat are chilled, frozen, and canned/ preserved.Chilled pork meat means chilling meat within 48 hours of a death to temperatures below 0 ° Celsius without freezing and storing it at these temperatures for several weeks.
The different packaging includes store wrap, modified atmosphere packaging, vacuum packaging, shrink bags and is available at various distribution channels such as supermarkets/hypermarkets, convenience stores, e-commerce, and others.
The growing food and beverage industry is expected to drive the growth of the pork meat market in the coming years.The food and beverage sector encompasses all businesses involved in the processing, packaging, and distribution of raw food materials.
This includes both fresh and packaged foods, as well as alcoholic and non-alcoholic beverages.Pork is a good source of high-quality protein, which is an important nutrient for human health.
Once consumed, it includes large levels of amino acids. For instance, in March 2022, according to the Australian Bureau of Statistics report, an Australia-based independent statutory agency for statistical collection and analysis, approximately 14.7 million tonnes of food and non-alcoholic beverages were sold from grocery stores, supermarkets, convenience stores, food stores, and fresh food markets across that Australia in the year 2020-2021, which represents 1.4% increased as compared to the previous year. Therefore, the growing food and beverage sector propels the growth of the pork meat market.
Plant-based pork meat is a key trend gaining the popularity in the pork meat market.Plant-based pork is a pig replacement created with heme (or "haem" in British English), an iron-containing molecule obtained from plants that resemble blood.
In recent years, a growing amount of data has linked meat consumption to ailments such as heart disease, cancer, and diabetes.So, people can reduce their weekly pork intake by introducing plant-based foods into their diet, boosting their overall health in the process.
For example, in September 2020, Impossible Foods, a US based company that produces plant-based substitutes for meat products launched plant-based pork ‘Impossible Sausage’ in Hong Kong.
In August 2021, JBS S.A., a Brazil-based meat processing company acquired Rivalea Holdings Pty. Ltd., for an undisclosed amount. The acquisition will expand JBS’ product portfolio in Australia, allowing for increasing volumes of value-added pork products in the Primo ham, bacon, and small business segments, as well as additional domestic and international pork sales opportunities. Rivalea Holdings Pty. Ltd is an Australia based company that produces pork meat.
The countries covered in the pork meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The pork meat market research report is one of a series of new reports that provides pork meat market statistics, including pork meat industry global market size, regional shares, competitors with a pork meat market share, detailed pork meat market segments, market trends and opportunities, and any further data you may need to thrive in the pork meat industry. This pork meat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06221932/?utm_source=GNW
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