Hot Dogs and Sausages Market to Grow at a Sluggish CAGR of 3.1% Due to Rising Preference for Healthy Food

The hot dogs and sausages market is significantly fragmented due to the presence of various regional international, and local vendors. These vendors differ in terms of competencies and specializations. Manufacturers of hot dogs and sausages compete strongly as far as quality, service, innovation, price, distribution, and reputation are concerned. The overall performance of the players is affected by the strong competition and lesser profit margins. Moreover, to have an upper hand in the gourmet hot dogs market, these manufacturers are working on providing advanced and distinct product offerings to their consumers. ConAgra Foods, Inc., Bar-S Foods Co., Bob Evans Farms, Inc., Sara Lee Food & Beverage, Johnsonville Sausage, LLC, Family Dollar Stores, Inc., Atria Plc., Boklunder, Animex, Elpozo, Campofrio Food Group, Sigma Alimentos, Tyson Foods Inc., and JBS Argentina are among the key players leading the global hot dogs and sausages market.

According to a report published in Transparency Market Research, the global hot dogs and sausages market is expected to grow at a CAGR of 3.1% within the forecast period from 2015 to 2024. In 2014, the market was valued at worth US$64.7 bn, which is likely to reach around worth US$80.4 bn by the end of forecast period. Based on types of products, the cocktail sausages segment dominated the entire hot dog and sausages market, in terms of revenue as well as volume. The mentioned market segment is expected to grow to a worth of US$19.2 bn by the end of the year 2021. Geographically, the market is led by Asia Pacific region, as far as revenue is concerned. The region is prognosticated to hold over 39% of overall shares by the end of 2021.

Manufacturers are Working on Creating a Healthier Alternative for Consumption

Change in food habits of the consumers is highly impacted due to change in taste of the youngsters. The present population is getting more inclined towards healthier food products and are looking for another food alternatives. Owing to this, the food manufacturers are working on developing healthier option in hot dogs and sausages too. Youngsters are the major consumers of hot dogs and sausages all over the world, owing to its ease of preparation and convenience. Moreover, because of its cost-effective it has become a commonly used food item.

Rising Awareness About Healthier Food to Bring Down Market Growth

Nevertheless, the WHO (World Health organization) in 2014 sated that near about 1.9 billion individuals were overweight, out of which 600 million were overweight. It also stated the rise in number of children suffering from obesity, which pulled down the market growth. Along with this, the rising cases of obesity all over the world has curbed the consumption of hot dogs and sausages all together, which is likely to hamper the market growth as well.

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This review of the hot dogs and sausages market is based on a recent market research report by “Hot Dogs and Sausages Market (Meat Type – Pork, Beef, Chicken; Product – Frozen Hot Dogs and Sausages, Refrigerated Breakfast Sausages, Refrigerated Dinner Sausages, Refrigerated Hot Dogs, Cocktail Sausages) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021.”

Hot Dogs and Sausages Market: Hosting of Major Sporting Events and High Preference of Kids and Youth to Drive Growth of Market

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.

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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.