The increasing demand for organic food products with low calories is the latest trend that is gaining popularity across the world. In order to avoid the risk of obesity and being overweight, consumers are now asking for organic hot dogs and sausages. This new trend has opened up quite a few lucrative opportunities for the companies in the market.
The competitive landscape of the hot dogs and sausages market at a regional level is highly fragmented with the exception of the Middle East and Africa region. Some of the key companies in the global hot dogs and sausages market include names such as Venky’s, Shineway, Goodman Fielder Ltd., People’s Food Holdings Ltd., and Nippon Meat Packers among others. These companies in the global hot dogs and sausages market are increasingly adopting growth strategies such mergers and acquisitions to bolster their market presence. Additionally, these companies are heavily indulging into activities of product development in the meat and other meat products segment along with innovative marketing strategies. One of the new marketing ideas adopted is the introduction of hot dog ATMs. In here, the consumer places their order on the given screen and the chosen food product is moved to the microwave from the refrigerator to give out fresh hot dogs in quick time.
The global hot dogs and sausages market is expected to reach an overall valuation of US$80.4 bn in terms of revenue by the end of 2021. This growth of the global market is expected to be achieved at a steady CAGR of 3.1% over the course of the given forecast period of 2015 to 2021. In terms of volume, the global market for hot dogs and sausages is expected to grow at CAGR of 1.8% over the aforementioned forecast period.
Download TOC at https://www.transparencymarketresearch.com/report-toc/4650
Why there is an Increasing Demand for Hot Dogs and Sausages?
Hot dogs and sausages are one of the most popular convenience foods for both kids and youth across the world and thus, households with college student or kids become the most attractive customer base for the market vendors. This age group of people in the range of 20 and 30 years is a major driving factor for the growth of the global hot dogs and sausages market.
The hot dog and sausages’ demand varies from region to region and according to season as well. The holiday period results in generating a high demand for these food products. Also, hot dogs and sausages are one of the most popular food products to be consumed during major sporting events and to be sold at ballparks. This also significantly driving the growth of the global market.
However, there are some factors that are affecting negatively on the overall growth of the global hot dogs and sausages market. Hot dogs and sausages is a kind of instant food. Increasing consumption of such food products lead to degenerative disorders such as obesity. Moreover, there are increasing number of people across the globe facing the issue which has thus impacted a negative manner on the growth of the global hot dogs and sausages market.
Why Regional Market of Middle East and Africa is Expected to be Fastest Growing?
The global market for hot dogs and sausages is geographically segmented into key regions such as North America, Latin America, Middle East and Africa, Europe and Asia Pacific.
In terms of revenue generated, the regional market of Asia Pacific is expected be on the leading front with accounting for over 39% of market share over the coming years. While, the regional market of the Middle East and Africa is projected to be the fastest growing market. This rapid growth is projected mainly due to increasingly busy lifestyle of people in the working class and the growing frequency of big sporting events hosted in the region. In addition to this, the market is expected to see growth due to innovative marketing strategies adopted by the key vendors to attract customers. The other regional markets of Europe and North America are also projected to have a steady growth in the coming years.