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
- Pork
- Beef
- Chicken
- Others
Global
Hot Dogs and Sausages Market, by Application
- Frozen Hot Dogs and Sausages
- Refrigerated Breakfast Sausages
- Refrigerated Dinner Sausages
- Refrigerated Hot Dogs
- Cocktail Sausages
- Others
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