Global Pork Extract Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company’s Pork Extract Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ -- The global pork extract market has witnessed significant growth in recent years, expanding from $3.96 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. This upward trend is largely driven by the expansion of the food processing industry, rising demand for high-quality meat products, growing concerns over animal welfare, and the increasing application of pork extract in pharmaceuticals. Looking ahead, the market is expected to continue its strong growth, reaching $5.42 billion by 2028 at a CAGR of 6.5%, fueled by rising disposable income, a focus on sustainability, and the growing popularity of convenience foods.

Growing Popularity of Meat Products Fuels Expansion of the Pork Extract Market
The surge in demand for meat products is a key driver of the pork extract market's growth. Meat products, including beef, pork, poultry, and fish, are increasingly favored due to their nutritional value, convenience, and accessibility. Pork extract, known for its rich flavor, serves as a natural alternative to monosodium glutamate (MSG), offering a robust taste without the associated health concerns. The growth in the meat product sector is evident, with a 2.5% increase in meat product manufacturing reported by Farm Credit Canada (FCC) in March 2023, and a 9% year-over-year sales increase in 2022, driven by domestic market expansion.

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Key Players and Market Trends
Major companies in the pork extract market, including WH Group Limited (Smithfield Foods Inc.), JBS S.A., and Kerry Group Plc, are focusing on investments and innovations to overcome industry challenges and enhance farmer margins. For example, Lidl, a prominent Germany-based food manufacturer, invested $533.07 million into the British pork sector in April 2024, aiming to support local producers and ensure the supply of high-quality pork at competitive prices.

Segments:
•Type: Powder, Soup, Oil, Concentrate, Liquid
•Distribution Channel: Offline, Online
•Application: Household, Catering Service Industry, Food Processing, Pharmaceutical Industry, Pet Food, Other Applications

Geographical Insights: North America Leading the Market
In 2023, North America emerged as the largest region in the pork extract market, with expectations of continued rapid growth during the forecast period. The region's strong performance is driven by high meat consumption, robust food processing industries, and innovations in meat product formulations.

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Pork Extract Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pork Extract Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pork extract market size, pork extract market drivers and trends, pork extract market major players, pork extract competitors' revenues, pork extract market positioning, and pork extract market growth across geographies. The pork extract market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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