One of the things that is important about the hunt in chapter seven is that when Ralph throws a spear and wounds the boar, we see that Ralph too can be caught up in the excitement of the hunt and the violence of it. This is important as the reader eventually learns that this thirst for violence is present in all the boys, not just Jack and his hunters.
On a darker note, the reader also gets a taste of the idea that they can have a boy serve the role of the beast in order to pretend to get the beast. This foreshadows the fact that eventually, once the rules and order have truly broken down, the boys will turn to murder.
The other aspect of the hunt that is important is the interplay during the hunt between Ralph and Jack as they struggle over leadership. This is relevant to the beast as we see in Jack real hate and derision for Ralph showing that the beast inside of him (as well as the other boys like Roger) is growing stronger and driving more and more of their behavior.