Pork is one of the most commonly consumed meats around the world. The demand for pork is even greater than chicken and beef. This is mainly due to cheap feeding, easy rearing, easy breeding, and quick growth. Overall, the domestic pig seems like a very cost-effective farm animal. Pork meat may not be the number one on most foodies’ lists, but it is definitely one of the cheapest ways to bring meat to the table.
The growth of global hog production and pork market is mainly driven by elevated prices of chicken and beef along with an increase in number of meat consumers. The pandemic conditions have largely affected the food sector as shortage of feed and stocks caused a significant rise in the prices of goat and chicken meat, which significantly increased the demand for pork around the world. Moreover, some of the major benefits with the hog production such as quick breading, large number of piglets, low feeding cost, and more meat percent are equally contributing to the growth of the market.
Pigs are one of the cheapest commercial animals, they are omnivorous and extremely easy to feed and grow quickly, and cost of shelter is also low which is gain boosting the expansion of hog production. On the other side, frequent disease outbreaks in pig farms largely hamper the growth pork sale around the world. However, with routine vaccine schedule and government programs to control disease outbreaks in commercial animals will offer excellent growth opportunities to the market.
The global market for hog production and pork is categorized based on form, type, end use, and region. Based on form, the global hog production and pork market is bifurcated into processed and fresh. By type, the global market is classified as loin of pork, leg/ham, ribs, belly/side of pork/bacon, picnic shoulder/hand, shoulder/Boston butt, and others. The end use segment of the market is segmented as household/retail, food service providers, and food processing industry.
Asia Pacific is expected to remain the largest market in global hog production and pork market over the forecast period. This is mainly due to large number of domestic pig farming and large pork consumers. China is projected to continue its lead in the regional market in terms of revenue contribution. North America is anticipated to be the second largest market followed by Europe. A large number of pork consumers are likely to spur the growth of the market in these regions.
JBS S.A, Triumph Foods, LLC, Smithfield Foods, Inc., Seaboard Corporation, The Maschhoffs, LLC, Wan Chau International Limited, Iowa Select Farms, Charoen Pokphand Group, China Yurun Food Group Limited, and BRF S.A. are some of the key players operating in the global hog production and pork market.