Global Hot Dogs and Sausages Market is expected to reach USD 80.45 billion by 2021: Transparency Market Research

2024-12-27 07:41:56 Lifestyle

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Transparency Market Research has published a new market report titled ?Hot Dogs and Sausages Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2021.? According to the report, the global hot dogs and sausages market was valued at USD 64.76 billion in 2014 and is estimated to reach USD 80.45 billion in 2021, growing at a CAGR of 3.1% from 2015 to 2021. In terms of volume the global hot dogs and sausages market was valued at 5664.7 Kg-million in 2014 and is expected to reach 6443.6 Kg-million by 2021, growing at a CAGR of 1.8% over the forecast period. Among different regions the Middle East and Africa (MEA) market is expected to grow at the highest CAGR both in terms of revenue and volume over the forecast period. The Middle East and Africa hot dogs and sausages market in terms of revenue and volume is projected to grow at a CAGR of 3.4% and 2.9% respectively from 2015 to 2021. In terms of revenue and volume Asia Pacific held the largest market for hot dogs and sausages in 2014 and is expected to retain its position as the market leader over the forecast period.

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Hot dogs and sausages are popular across the globe; however, the consumption pattern varies from region to region. New flavors and convenient products are boosting the hot dogs and sausages market globally. Consumption of sausages varies by season. For example, dinner sausages are primarily sold during summer, while consumers prefer breakfast sausages during holiday months. In terms of market size, cocktail sausages account for the largest market share globally. According to a survey by the National Hot Dog and Sausage Council, consumption of hot dogs and sausages is high at major league ballparks in the U.S.

The major factors driving the growth of the hot dogs and sausages market are increasing number of households having kids, popularity of hot dogs and sausages among younger generation and busy lifestyle of working class people globally. Additionally, increasing youth population is fuelling the growth of the hot dogs and sausages market globally.

The global hot dogs and sausages market has been segmented on the basis of product types into frozen hot dogs and sausages, refrigerated breakfast sausages, refrigerated dinner sausages, refrigerated hot dogs and cocktail sausages among others. Among the different product categories of hot dogs and sausages, cocktail sausages held the largest market share in both value and volume terms in 2014 and is expected to hold the position of market leader by 2021. The market has been further segmented on the basis of meat type into pork, beef, chicken and others.

The global hot dogs and sausages market has been segmented on the basis of geography into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and Latin America. Asia Pacific dominated the global hot dogs and sausages market in 2014, accounting for a market share of more than 35% share of the total market, and it is expected to retain market dominance throughout the forecast period. India, China, New Zealand, Japan and Australia are the main contributors to the hot dogs and sausages market in Asia Pacific. Increasing youth population for hot dogs and sausages is a key factor driving the demand for this market in China and India. Increasing busy lifestyle of the consumers in China and India is another factor driving the demand for the hot dogs and sausages market these two countries. Additionally, Japan is a major market for hot dogs and sausages in Asia Pacific.

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Europe was the second largest market for hot dogs and sausages in 2014 and is expected to retain its position throughout the forecast period. Germany, U.K. and France are the major contributors to this market in Europe. Unique marketing strategies adopted by the leading players in the hot dogs and sausages industry are a key factor driving the demand for this market in Europe. Additionally, product variation and the growing demand for organic food are the other major factors pushing the demand forward for the hot dogs and sausages market in Europe. Germany is the market leader in the hot dogs and sausages industry in Europe, followed by U.K. and France.

North America accounted for the third largest market in the global hot dogs and sausages market in 2014 and it is expected to retain its position in the market throughout the forecast period. Hot dogs and sausages have been prevalent in North America for a long period of time. Consumers in New York consume more hot dogs compared to the other countries in North America. Among the different product segments, pork held the largest market share in the hot dogs and sausages market in North America. U.S. was the market leader in this market in North America in 2014 and is expected to retain its market dominance throughout the forecast period.

Latin America accounted for a market share of a little over 10% in 2014 and the market share is expected to reach 12.15% by the end of the forecast period. Brazil and Argentina are the major markets for hot dogs and sausages in Latin America.

Middle East and Africa (MEA) accounted for the lowest market share in 2014, but the market is expected to witness a gradual increase in its revenue throughout the forecast period.

The global hot dogs and sausages market is dominated by some of the major players operating in this industry. Major players like Bar-S Foods Company, ConAgra Foods Inc, Bob Evans Farms Inc, and Johnsonville Sausage LLC among others are expected to capture the attention of consumers due to their cost effectiveness vis-?-vis branded products.

The Hot Dogs and Sausages Market has been segmented as follows:

Global Hot Dogs and Sausages Market by Meat Type
Meat types covered under this research study are:
Pork
Beef
Chicken
Others
Global Food Preservatives Market by Product Type
Product types covered under this research study are
Frozen Hot Dogs and Sausages
Refrigerated Breakfast Sausages
Refrigerated Dinner Sausages
Refrigerated Hot Dogs
Cocktail Sausages
Others
Global Hot Dogs and Sausages Market by Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America