Global Pork Meat Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|豬肉的全球市場(2021年∼2028年) Global Pork Meat Market - 2021-2028|
|出版日期: 2021年08月12日||內容資訊: 英文 180 Pages||
Pork is the culinary name for the processed meat of a domestic swine. It is the second most commonly consumed meat globally according to the OECD (Organization for Economic Co-operation and Development). 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 channels is making it convenient for consumers to purchase packaged pork meat, which is expected to drive the market growth. As per the current trends, existing industrialized pork production facilities could pave the way for enhanced and larger production facilities in the near future. The newer production facilities are heading toward a more sustainable production approach. Growing demand for pork meat, adoption of sustainable production methods, and a substantial rise in disposable income are expected to drive the growth pork market during the forecast period. The global pork meat market size valued US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
The increasing consumption rate of meat, is predicted to drive the growth in the forecast period
There has been a substantial increase in meat consumption globally in the span of the past 50 years due to an increase in population and a growth in levels of progress in income. From historical trends, it shows that, with the increment in purchasing power, the population likely to adopt diets in which there is more meat consumption. For instance, in 2017, the per capita global consumption of meat was calculated at 34.3 kg. Consumption has increased up to 24.8% between 1995 and 2017. By 2026 it is expected that the per capita consumption of meat will be 34.6 kg worldwide. And pork has the second-highest percentage of about 35% from total per capita consumption of meat worldwide. The trend of steady growth in meat consumption is driving the market growth of pork meat globally. Furthermore, pork exports are expected to increase by 3.7 percent in 2021 over 2020 and to remain at about the same level in 2022, driven by demand from countries in the Americas (North, Central, and South) and from major importing countries in Asia.
Moreover, pork is widely used as a staple food in many regions, mainly in European and North American regions. Due to growing awareness of nutritional food, pork demand is not only increasing due to its appetizing nature but also has a high nutritional profile. Additionally, it is also a rich source of protein, fats and high amounts of selenium, vitamin B and thiamin, because of which it is a popular meal choice for health-conscious people who are interested in putting muscle mass. It is a popular choice between consumers in fast food stores and restaurants. In Asia countries, pork is preferred compared to beef for nutrition, economic and aesthetic reasons. The pig is easy to feed and is not used for labor. Additionally, the colors of the meat and the fat of pork are viewed as more delicious and easier to digest with good nutritional source value for the body.
However, animal agriculture is deemed as one of the major reason for greenhouse gas emissions, animal torment and public health problems. According to a survey done among UK meat-eaters about their beliefs about vegetarian and vegan diets, one in six planned to decrease their meat consumption in the immediate future. Most of the respondents agreed that vegetarian and vegan diets are ethical, good for the environment and healthy. Such types of sentiments are hindering the market growth of pork meat. A number of serious issues that are created due to animal rearing are also restraining many people from adopting pork meat. According to recent environmental analyses, rearing animals for food is a leading cause of eutrophication, acidification, freshwater withdrawal, deforestation and climate change. It is calculated that about 14.5% of anthropic greenhouse gas emissions are associated with animal agriculture. Due to all these negative effects, many consumers are turning into vegetarian worldwide, which threatens the pork market growth up to some extent. For instance, according to Vegansociety, annual growth in the global food and beverage industry introduces with vegan and plant-based claims increased 21% and 58% during 2015 and 2019.
Frozen pork meat segment to hold major share in the market
Frozen pork meat is the dominating segment in types of pork meat due to its commercial value, long time of perseverance and requirement of storage of meat. Freezing is mainly restricted to meat to be used as buffer stock, often intended for export or for storage with a need of later processing. When the preservation period exceeds the acceptable period for chilled meat, freezing must be applied to reduce any physical, biochemical and microbiological changes affecting quality in storage. Throughout freezing, most of the water content of the meat, almost 80%, freezes into pure ice crystals, along with a separation of dissolved solids.
On the other hand, chilled pork meat is expected to have high growth rate due to increasing demand among consumers who often prefer chilled fresh meat to frozen meat. Chilled pork meat can be defined as the basic operation in applying cold to meat to decrease its temperature rapidly. This process is done in a cold chamber with concentrated air draught or movement. Rapid cooling of the meat surface slows and stops the development of surface micro-organisms and decreases weight loss and discoloration of the meat surface due to haemoglobin oxidation.
Packaging segment of the pork meat market is classified into store wrap, modified atmosphere packaging, vacuum packaging, shrink bags, and others. Shrink bags packaging type is dominating the pork meat market due to the general practice in foodservice industries to use shrink bags in preserving perishable meat 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.
Asia Pacific region holds the largest revenue share in global pork meat market
Asia Pacific is expected to hold a major market share in the global pork meat market due to changing lifestyles among people and increasing demand for meat consumption. Developing countries of Asia-Pacific, such as China and East Asian countries, are consuming high amount of red meat, which is driving the market. For instance, according to USDA foreign agriculture service, China imports account for 35% of global pork imports. In terms of pork meat production China has the highest market share, which was around 45% in 2017, according to OECD. China's 2020 pork output declined by 3.3% from a year earlier to 41.13 million tonnes after plunging 21% in 2019, the National Bureau of Statistics (NBS). In 2021, global pork production was led by China, which produced over 40 million metric tons. The European Union and the United States held the second and third positions, respectively. In the year prior, global pork production amounted to about over 100 million metric tons.
North America is expected to have significant growth rate during the forecast period due to the long tradition of using pork meat as a staple food, high per capita consumption rate and the presence of large number of local players. For example, according to OECD, between the sample of countries, USA has the highest per capita consumption of meat, with 98.4 kg, then Brazil with 75.2 kg and Canada with 69.9 kg. As both USA and Canada meat consumption per individual is high, the demand for pork meat is also steady and is increasing gradually with the growing population. Data from China Customs show that the United States imported 1.68 million tonnes of pork in the first 5 months of 2020, which 156% more than a year earlier. The US was the biggest source of the imports, that stood at 333,445 tonnes, followed by Spain (300,136 tonnes) and Germany (239,637 tonnes). In 2020, production of pig meat for United States of America was 12,843 thousand tonnes. Production of pig meat of United States of America increased from 7,260 thousand tonnes in 1971 to 12,843 thousand tonnes in 2020 growing at an average annual rate of 1.33%.
The pork meat market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include WH Group, Triumph Foods, Tyson Foods Inc., Smithfield Foods, and Dawn Meats among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the pork meat globally. Key companies are increasing their investments in research and development activities to offer innovative products in order to satisfy the ever-rising demand from customers. Triumph Foods, LLC., in 2019, developed and constructed a new fresh pork processing plant as well as a new fresh pork plan site in Sioux City.
COVID-19 Impact: Pandemic had a negative impact on global pork meat market
The new normal of social distancing and lockdown during the Covid-19 pandemic have negatively affected the production of pork meat. For instance, in USA many processing plants closed when there were major outbreaks, putting force mainly on pig and poultry industries. At some point, there was about 45 percent decrease in pig processing capacity, which in number was about 250,000 pigs per day were not slaughtered. The biggest hit was observed in the first week of May 2020; the processing numbers for pork and beef declined by 40% compared to the same periods of 2019. The pork processing industry declined (18% in April and 19% in May) compared with production in January-March 2020. The USA beef and pork processing industry was declined by 40% during April and May 2020 compared to 2019. This has disrupted the whole supply chain of the pork meat industry in terms of longer transport distances to firms with extra capacity, increasing the number of animals on the firm etc. Some firms were forced to control the number of animals on farm by killing, which resulted in a loss for the firm. At the time of Covid-19, there was a great disruption in between the supply chain of the processed foodservice industry and supplies to grocery stores due to sudden spike in demand for meat-related food when the lockdown was imposed in various countries, which had negatively affected the pork meat market in 2020 and is estimated to return to normal in mid-2021.