Published: Mar, 2017
Transparency Market Research states that the competitive landscape in the global hot dogs and sausages market is quite fragmented due to presence of several players. Nippon Meat Packers Inc., Shineway Group, Goodman Fielder Ltd., Venky’s, and People’s Food Holdings Ltd. held a share of around 30% in the global market in 2014. Mergers and acquisitions is expected to winning strategy of players in the global market to expand their base in the global market and win bigger consumer bases.
The research report states that the opportunity in the global hot dogs and sausages market is expected to be worth US$80.4 bn by 2021 from US$64.7 bn in 2014. The rise is estimated to be around 3.1% CAGR between 2015 and 2021. The growing popularity of eating convenient meals that offer adequate nutrition is expected to fuel the growth of the global market.
Asia Pacific Emerges as Leading Regional Segment as Young Population Seeks Convenient Meal Options
The various products available in the global market are beef, pork, chicken, mutton, and others. Amongst all of these, chicken hot dogs and sausages are expected to lead the global market due to the increasing awareness amongst consumers about eating lean meat. The growing preference for eating healthy has declined the sales of red meat-based hot dogs and sausages as these are known to contain high cholesterol. Owing to these reasons, the chicken sausages segment is projected to rise at a CAGR of 2.0% in terms of volume.
Geographically, the global hot dogs and sausages market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific is projected to lead the global market in the near future as it poised to account for a share of 39% during the forecast period. The growth of the regional market will be fueled by the increasing preference for fast food and convenient meal options. The growing younger generation in emerging economies of India and China are projected to make a significant contribution to the rising revenue of the regional market.
Sports Events and League Up Consumption of Hot Dogs and Sausages
The lack of time to cook elaborate meals has significantly driven the global hot dogs and sausages market. Today, various types of hot dogs and sausages have become popular amongst children, especially college students, as quick meals. The increasing population between the age group of 20 to 30 years of age is expected to be an important element in defining the trajectory of the global market. The revenue earned by the global hot dogs and sausages market is also dependent on the season and region. “For instance, the holiday season in Asia Pacific and North America makes a significant contribution to the sales of hot dogs and sausages,” states the lead author of this research report. The National Hot Dog and Sausage Council states that the hot dogs and sausages are consumed excessively during sport events and leagues than any other time in the year.
High Prevalence of Obesity Dissuades Consumers from Eating Red Meat
The key challenge for the global hot dogs and sausages market is the high prevalence of obesity in various parts of the world, which is attributable to the increasing consumption of fast food. In 2014, about 1.9 bn people were reported to be overweight and 600 mn obese by the World Health Organization. The alarming rise in obesity due to excessive consumption of meat, pork, and other types of unhealthy food items has dissuaded consumers from including these in their daily meals.
The review of the overall market is based on Transparency Market Research’s report, titled “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.”
Global Hot Dogs and Sausages Market, by Product
Global Hot Dogs and Sausages Market, by Application
- Frozen Hot Dogs and Sausages
- Refrigerated Breakfast Sausages
- Refrigerated Dinner Sausages
- Refrigerated Hot Dogs
- Cocktail Sausages
Global Hot Dogs and Sausages Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APEJ
- Middle East and Africa
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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