Global Hog Production and Pork Market Size is $286.03 Billion in 2024

Global Hog Production and Pork Market Overview

According to Global Market Monitor, the global hog production and pork market size is $286.03 billion in 2024 and is expected to grow to $306.52 billion by 2029.

China Hog Production and Pork Market Status

In mid-August, China's pig industry performed strongly, attracting the attention of investors and the entire market. The sharp rise in the share prices of major companies such as Muyuan and other listed pig producers has refocused attention on the future direction of pig prices. According to recent data, the average price of live pigs nationwide has soared to more than 21 yuan per kilogram. This sharp increase highlights the current tight supply and demand situation in the live pig market. There are several factors contributing to this, including reduced capacity and the ongoing impact of African swine fever, which has led to a gradual reduction in supply. In addition, lower production costs and market expectations of higher hog prices have also played a role in pushing up prices. The performance of major pig producers such as Makihara, Wenshi, and New Hope is particularly noteworthy, benefiting from favorable market conditions and lower feed costs that provide solid profit margins for pig producers.

Us Pork Export Status in the First Half of the Year

According to the U.S. Department of Agriculture, while pork exports were down year-on-year in June, shipments in the first half of this year are still ahead of 2023. Pork exports totaled 224,392 tons in June, down 9% from a year earlier, while exports fell 5% to $659.7 million. However, production in January-June still reached 1.52 million tons, 3 % higher than in the first half of 2023, while exports rose 5% to $4.26 billion.

Pork exports to key market Mexico cooled slightly, with volumes down 3% year on year, but exports still edged up by 4%. South Korean demand for U.S. pork remained very strong in June, with exports up 20% from a year earlier and exports up 30%. Exports to South Korea in January-June were 33% higher than in the same period last year, while exports were up 38% for the U.S. industry.

Jews and Muslims are forbidden to eat pork, due to religious factors. It is a huge limitation for pork sales in Jewish and Muslim countries, especially in the Middle East and Southeast Asia. Pigs, as poultry, are easily prone to large-scale infectious diseases. Once an infectious disease breaks out, it can cause a devastating blow to the farmer. All infected poultry may be forced to kill to prevent the spread of the disease on a larger scale. As health problems become more prominent, people are more likely to eat high-protein, low-fat, and low-cholesterol foods, such as beef, chicken breast, and shrimp. More people choose veganism.

Drivers	Increasing disposable income
	Technology development
	Large-scale production
	Organic pork
Limitations	Culture influence
	Infectious disease
	Lifestyle change

For more industry information, please refer to our latest released "Hog Production and Pork Market - Global Professional Analysis and Forecast to 2026".