Global Hog Production and Pork Market: Overview
Hog production is essentially a part of agricultural economy. It entails raising and breeding of pigs primarily for their meat which is popularly known as pork. Pork is the most commonly consumed meat in the world. Both the fresh and processed varieties that includes bacon and ham, sausages, hot dogs, Charcuterie (French term), and the canned meat are popular in the market. As per the Food and Agriculture Organization (FAO) of the United Nations, pork accounted for more than 36% of the world meat intake. It is followed by poultry and beef which account for 35% and 22% respectively.
A report by Transparency Market Research offers key insights into the global hog production and pork market after thorough research. It ascertains the various strengths and opportunities likely to influence its growth trajectory. The report also throws light on the intensity of the competition in the overall market along with determining the business and marketing strategies of the key players in the global market.
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Global Hog Production and Pork Market: Drivers and Trends
The global hog production and pork market has been primarily driven in the recent decades by the changes in consumption patterns brought about by rising incomes, particularly in developing countries with fast-growing economies. In fact, the pork sector has outshone most other sub-segments of livestock in terms of growth pace. Rapid improvements in breeding technologies for pigs have also filliped the market substantially in the recent past and transformed commercial hog production into a high-input, high-output industry.
To harness the complete genetic potential of the few breeds used in modern production systems, manufacturers need to provide standardized environments for the pigs, something which small, independent owners may not be able to achieve on account of the high capital required for it. This has led to a noticeable trend in the global hog production and pork market – shift towards large-scale industrialized farming from subsistence-driven small-scale production. In the years ahead, the rising use of heart valves of hogs for implantation of human heart valve is expected to positively impact the market.
A major market restraint is the religious beliefs in certain regions which hamper the pork industry. Yet another challenge to the market is the restrictions on imports and exports on various grounds. For example, pigs fed ractopamine, a feed additive that brings about leanness, is banned in many markets.
Global Hog Production and Pork Market: Geographical Outlook
China is the top pork producing country in the world. The Chinese demand for pork is also driving growth in the global hog production and pork market. It is trailed by the U.S. and Europe. One of the major driving factors for the pork production industry in the two regions is the growing demand of processed meat. Pork is also a staple ingredient of daily meals in the two regions and is required by the growing number of restaurants and the fast food centers. The U.S. is also a net exporter of pork. According to the United States Department of Agriculture (USDA), the main markets for U.S. pork products are Japan, Mexico, and Canada. Other major pork producers in the world are Vietnam, Brazil, Russia, Canada, Japan, Philippines, and Mexico.
Companies Mentioned in Report
In order to assess the prevailing competitive landscape in the global hog production and pork market, the report profiles prominent players such as Royal Pig Farm, Premium Standard Farm Inc., Smithfield Foods, and Compassion in World Farming.
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