Hog & Pig Farming in the US - Industry Market Research Report
Description
Hog & Pig Farming in the US
Hog and pig farmers have been subject to intense volatility over the past year as trade disputes and fluctuating commodity prices shook up the industry. While the challenges of transporting live swine usually mean the industry has very little international trade, an outbreak at the serious African Swine Fever at the start of the period devastated nearly half of the Chinese hog population and forced them to raise imports. The trade war between the US and China caused the already low levels of US exports to China to drop to nearly zero in 2019, though, and the industry wasn't able to seize this monumental opportunity until it was too late. Still, exports to the country skyrocketed in 2020 and 2021 before dropping back down to pre-period levels, which combined with a post-pandemic spike in the price of red meat in domestic markets to boost revenue a staggering 39.9% in 2021 alone. In spite of this exceptional year, the intense volatility hog and pig farms have faced have tempered growth. Industry-wide revenue has been growing at a CAGR of 2.6% over the past five years and is expected to total $28.6 billion in 2023, when revenue will drop an estimated 6.6%.
Establishments in this industry farm hogs and pigs in operations that include breeding, farrowing, weaning and raising feeder pigs or market-size hogs. The term pig usually refers to the domestic mammal when it is young or small, while hog is the name typically given to domesticated pigs that weigh more than 120.0 pounds. While hog feedlots are included in the industry, the transportation of the livestock is excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Hog and pig farmers have been subject to intense volatility over the past year as trade disputes and fluctuating commodity prices shook up the industry. While the challenges of transporting live swine usually mean the industry has very little international trade, an outbreak at the serious African Swine Fever at the start of the period devastated nearly half of the Chinese hog population and forced them to raise imports. The trade war between the US and China caused the already low levels of US exports to China to drop to nearly zero in 2019, though, and the industry wasn't able to seize this monumental opportunity until it was too late. Still, exports to the country skyrocketed in 2020 and 2021 before dropping back down to pre-period levels, which combined with a post-pandemic spike in the price of red meat in domestic markets to boost revenue a staggering 39.9% in 2021 alone. In spite of this exceptional year, the intense volatility hog and pig farms have faced have tempered growth. Industry-wide revenue has been growing at a CAGR of 2.6% over the past five years and is expected to total $28.6 billion in 2023, when revenue will drop an estimated 6.6%.
Establishments in this industry farm hogs and pigs in operations that include breeding, farrowing, weaning and raising feeder pigs or market-size hogs. The term pig usually refers to the domestic mammal when it is young or small, while hog is the name typically given to domesticated pigs that weigh more than 120.0 pounds. While hog feedlots are included in the industry, the transportation of the livestock is excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
43 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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