Pig meat consumption

IBISWorld forecasts pig meat consumption to rise by 1.6% in 2024-25, to 25.9 kilograms per capita. Improved productivity in the pig meat industry is anticipated to stimulate production, which is set to support recovering demand for pig meat. The affordability of pig meat will likely attract more consumers seeking inexpensive source of protein amid the cost-of-living crisis, which is expected to strengthen pig meat consumption in 2024-25.

Pig meat is the second-most consumed meat in Australia. Numerous marketing campaigns by the pig meat industry's main representative body, Australian Pork Limited, to increase consumer awareness of the health benefits of fresh pork consumption have assisted consumption growth over the past decade. In addition, pork's relatively lower price compared to beef and lamb has also aided growth in pig meat consumption per capita over the past five years.

A global undersupply of pig meat due to an outbreak of African Swine Fever (AFS) in Asia and Europe caused pig meat consumption to drop over the two years through 2020-21. Pig meat consumption rebounded in 2021-22 since supply has recovered. Yet, rising health consciousness led pig meat consumption to decline over the past few years. Growing health trends have encouraged consumers to choose a leaner source of protein, like fish and poultry, instead of pig meat products that are perceived to be unhealthy. More recently, the cost-of-living pressures are supporting demand for pork and processed pig meat products such as bacon and sausages, which are less expensive than other red meats like beef and lamb. Overall, IBISWorld forecasts per capita pig meat consumption to sink at a compound annual rate of 1.4% over the five years through 2024-25.