The global processed pork market is envisioned in a report by Transparency Market Research (TMR) to grow on the back of the rise of the restaurant industry, especially fast casual dining and fast food. Titled “Processed Pork Market – Global Industry Analysis Market Size Share Trends Analysis Growth and Forecast 2016 – 2024,” the report foresees key segments that could take the driver’s seat of the market. The food service industry is expected to prefer processed meat over fresh meat owing to advantages such as improved shelf life, convenience, and year-round availability. This is one factor that could significantly augur well for the market.
Improving disposable income of consumers in developing economies and technological advancement in pork production could be other factors greatly enhancing the growth of the world processed pork market. A broad range of processed pork varieties available in the market and increasing awareness regarding the benefits of consuming animal protein-rich diet are also prognosticated to help with market growth in the near future. Low price of processed meat could be one factor that players may want to cash in on to increase their sales in the market. Although there are health concerns associated with the consumption of processed meat, emerging nations are still observed to exhibit a high consumption rate.
The frozen food market is projected to complement the rise of the world processed pork market in the coming years. In terms of product, the market could see a classification into cured, dried, raw-fermented, raw-cooked, pre-cooked, and fresh processed pork. By application, there could be segments such as ham, pork chop, sausage, and bacon. Although uncured processed meat could be an important outlet of the market, cured processed meat is anticipated to set the tone for a valuable growth due to its increased shelf life and nitrites content that helps to avoid the growth of pathogenic bacteria. On account of the swelling demand for quick meal, chilled processed meat is prophesied to achieve high sales, thus boding well for the global market for processed pork.
Regionally, the international processed pork market is forecast to witness the rise of North America banking on the escalating consumption of red meat and telling demand for protein products. Asia Pacific could be another region demonstrating strong growth in the market as a result of the improved demand for processed meat and robust economic growth. The supply of processed meat products is predicted to gain from the rise of the retail and food service industries. Over the last decade or so, China has emerged as a larger consumer of processed meat.
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The international processed pork market is marked by the presence of top companies such as Smithfield Foods, Inc., Pilgrim’s Pride Corp., and JBS S.A.