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.
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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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