LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global pork meat market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global pork meat market is expected to grow during the forecast period mainly due to the increased demand for protein-rich food items, increasing import and export of pork meat, and the growing meat production. The middle-class population is growing worldwide, and their purchasing power is increasing due to the turnaround of the economy.
“One of the growth drivers for this market is the increasing number of new product launches of pork meat by many major players. This is being done to cater to the rising demand for pork meat from consumers. Successful product launches of new products will help players increase their revenue share and consolidate their position in the market. Such launches also give a platform for players to differentiate themselves from their market adversaries,” says Manjunath Reddy, a lead analyst at Technavio for food research.
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The top three emerging market trends driving the global pork meat market according to Technavio research analysts are:
- New pork processing technology
- Increasing demand for grass-fed and organic pork
- Increasing mergers and acquisitions
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New pork processing technology
One of the trends that can positively influence the growth of global pork meat market is the increasing adoption of new technologies for the processing of pork meat. This is being done to develop better quality meat products.
In February 2017, Memphis Meats, a food startup that aims to develop edible meat in labs developed a new technology to generate muscle from a newly established pig stem-cell line, rather than taking primary cells directly from a pig. This cutting-edge technology is expected to decrease the number of animals killed for meat during the forecast period.
In 2015, Danish Meat Research Institute, a wing of the Danish Technological Institute, developed a new robot that can produce more precise and uniform pork loin cuts, resulting in top-quality products.
Increasing demand for grass-fed and organic pork
Another trend affecting the growth of the global pork meat market during the forecast period is the increasing demand for grass-fed and organic pork among consumers. The value-added benefits of grass-fed pork, such as better taste and high nutritional value, are the reasons supporting its demand.
“The growing awareness about the health benefits of organic foods is increasing the demand for organic pork. Players in the market are coming up with new, certified varieties of organic pork to target consumers. For instance, in March 2017, True Story Foods introduced its products consisting of various deli meats and organic raw pork at Heinen's stores in the US states of Ohio and Illinois,” says Manjunath.
Increasing mergers and acquisitions
Another trend that is set to influence the market growth during the forecast period is the increasing M&A in the market. Major players in the market are acquiring smaller players to gain access to new markets. This move will also give them a key to new products and technologies used by the small vendors. Successful M&A will help the players to strengthen their market position and overcome the competition in the market. As the pork meat market grows, the number of M&A in the market is also expected to increase during the forecast period.
For instance, in July 2017, Marel agreed to acquire Sulmaq, a company that provides primary processing solutions to pork and beef industries in Central and South America. The acquisition is being made to strengthen the position of Marel in the Central and South American market.
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