United States Processed Pork Meat Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

United States Processed Pork Meat Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The United States Processed Pork Meat Market is projected to register a CAGR of 1.91%

Key Highlights

• Largest Segment by Distribution Channel - On-Trade : The increasing number of restaurants and the varieties of pork items available are leading a higher number of consumers to visit on-trade channels in the United States.
• Fastest-growing Segment by Distribution Channel - Off-Trade : The availability of a wide range of products with several brand options for processed pork and the ease of free checkout and delivery options are aiding the market growth.

Key Market TrendsOn-Trade is the largest segment by Distribution Channel.

• The sales of processed pork meat for on-trade distribution channels declined by 11.48% from 2019 to 2020. The per capita consumption of pork meat also declined by 2% due to the closure of 110,000 restaurants and foodservices in the United States. Companies also shut down their operations due to the government-imposed strict regulations as a result of the increasing COVID-19 cases.
• On-trade is the major distribution channel for processed pork meat. The consumption of pork meat increased, accounting for around 15 kg per year through the on-trade channel. Restaurants and food services offer processed pork in the form of deli meats, cooked ham, and rolls with additional flavors and smooth texture, which attract consumers' interest.
• The off-trade channel is expected to be the fastest-growing distribution channel, and it is projected to register a CAGR of 2.66% by value during the forecast period (2022-2028). Doorstep delivery of processed pork products and easy ordering options, along with the rising demand for processed pork products, are encouraging the use of online channels and supermarkets/hypermarkets. Moreover, the consumption of processed pork is increasing, as US consumers, who prefer beef and fowl, are now eating more pork than ever due to its lower prices, which are more than 50% less than beef prices per kg.
• The government imposing strict regulations on labeling and quality is gaining consumers' interest and further driving the market. For instance, the USDA's Food Safety and Inspection Service shared the recall notice for "approximately 10,359 pounds of pork pellet products" on October 14, 2021 by the company Evans Food Group Ltd because they were "not presented for import re-inspection into the United States. “

Competitive Landscape

The United States Processed Pork Meat Market is fragmented, with the top five companies occupying 35.22%. The major players in this market are Hormel Foods Corporation, JBS SA, Sysco Corporation, Tyson Foods, Inc. and WH Group Limited (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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