Hot
Dogs and Sausages Market: Snapshot
Hot
dogs and sausages have been gaining popularity around the world owing
to the taste, convenience, and variety they offer. The hot dogs and
sausages market is being driven by varied consumption trends and
patterns across different regions and seasons. The rapid development
of the retail sector in emerging economies is a large opportunity for
players in the hot dogs and sausages market and this has spurred the
operational expansion of companies in countries such as China, India,
Malaysia, the UAE, and the Philippines.
Revenues
of the global
hot dogs and sausages market were nearly US$64.7 bn in 2014
and are estimated to reach US$80.4 bn by 2021. The market is
projected to register a 3.1% CAGR during the forecast period, reports
Transparency Market Research.
Chicken
Sausages to Emerge as Most Attractive Segment as Pork Sausages Face
Religious Barriers
Hot
dogs and sausages are made from a variety of meats: pork, beef,
chicken, mutton, and lamb. Among these, although pork led the overall
market, chicken is identified as the most attractive segment for the
hot dogs and sausages market due to growing health awareness among
consumers. There has been a global shift in consumer preference from
red meat to chicken since the cholesterol content in red meat is
higher than that in chicken. Furthermore, chicken does not contain
trans fat, which is one of the main factors triggering coronary heart
diseases. This is expected to increase the demand for chicken hot
dogs and sausages during the forecast period.
Additionally,
chicken is comparatively cheaper and there are negligible religious
barriers or taboos associated with its consumption. This is as an
important factor in the growth of the chicken hot dogs and sausages
market, especially in the Middle East. On the other hand, pork is an
attractive segment in the hot dogs and sausages market in Asia
Pacific, especially in China.
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Demand
for Hot Dogs and Sausages on the Rise in MEA
The
global hot dogs and sausages market has been geographically segmented
into North America, Europe, Asia Pacific, the Middle East and Africa
(MEA), and Latin America.
In
terms of revenue, Asia Pacific is expected to be the leading regional
market for hot dogs and sausages, accounting for a share of more than
39% during the forecast period. The Middle East and Africa region, on
the other hand, is predicted to be the fastest growing hot dogs and
sausages market.
The
Asia Pacific hot dogs and sausages market is fueled by the rising
preference for fast food among the younger generation in the
developing economies of China and India. One of the major factors
contributing to this factor is the increasing number of individuals
belonging to the age group of 20-30.
The
hot dogs and sausages market in the Middle East and Africa is
anticipated to witness significant growth during the forecast period
due to the increasingly busy lifestyles of the working class, the
growing frequency of major sporting events, and an increasing number
of households with kids. In addition, extensive marketing strategies
adopted by hot dogs and sausages manufacturing companies are slated
to fuel the market in this region over the course of the forecast
period.
Some
of the prominent companies competing in the global hot dogs and
sausages market are Bar-S Foods Co., ConAgra Foods, Inc., Bob Evans
Farms, Inc., Johnsonville Sausage, LLC, Sara Lee Food & Beverage,
Family Dollar Stores, Inc., Boklunder, Atria Plc., Animex, Campofrio
Food Group, Elpozo, Sigma Alimentos, JBS Argentina, and Tyson Foods
Inc.
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