Hot Dogs and Sausages Market Estimated to reach US$80.45 Billion by 2021
Hot dogs and sausages have attained popularity worldwide but differ in consumption pattern from region to region. During different seasons, flavor preferences in hot dogs and sausages change. For example, dinner sausages are more in demand in summer and during the holiday season, there is more demand for breakfast sausages. Globally, hot dogs and sausages are increasingly being consumed with new seasonings and flavors boosting demand. The popularity of hot dogs and sausages among the younger generation, their convenience in today’s hectic lifestyle, and successful marketing tactics of prominent hot dog and sausage makers have all contributed to the increased demand from the global hot dogs and sausages market.Globally, the hot dogs and sausages market valued at US$64.76 billion in 2014 and expected to grow at a CAGR of 3.1% and reach US$80.45 billion in 2021. Total volume of the hot dogs and sausages market is estimated to grow at a CAGR of 1.8% and reach 6,443.6 million kg by 2021.
Popularity among Younger Generation Fuelling Hot Dog and Sausages Market
In the U.S., the demand for hotdogs and sausages receives a huge boost during sports games, due to its cultural importance as the traditional “sports food”. In France, demand for low-fat and low-calorie hygienic food has provided a window of opportunity for hotdogs and sausage manufacturers. Hot dogs and sausages have great appeal among the 20-30 age brackets in China. Japan also shows a great demand among the younger generation for hot dogs and sausages. Accordingly, Asia Pacific is leading the global hot dogs and sausages market by both volume and revenue. This is also a popular food category in Brazil and Latin America, where the hot dogs and sausages market is estimated to attain a high growth level during the forecast period.
Chicken Popular Segment in Hot Dogs and Sausages Due to Health Awareness
The main meat types in the global hot dogs and sausages market are pork, chicken, beef, and others such as mutton and lamb. Product segmentation includes refrigerated breakfast sausages, refrigerated hot dogs, refrigerated breakfast sausages, frozen hot dogs and sausages, cocktail sausages, and other types such as chorizo and Goan sausages. The cocktail sausages segment is expected to monopolize the market during the forecast period from 2015 to 2021. Chicken is the preferred meat for hot dogs and sausages, due to the consumers’ health awareness and their resultant avoidance of red meat due to its possible adverse health effects.
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Geographical segments of the global hotdogs and sausages market are North America, MEA, Latin America, Europe, and Asia Pacific. As mentioned earlier, APAC leads the global hot dogs and sausages market thanks to growing demand from its young population.Leading players in the global hotdogs and sausages market include Nestle S.A., Tyson Foods Inc., Venky’s, Goodman Fielder Ltd., and Hormel Corporation. The major opportunity for manufacturers of hot dogs and sausages is production of low-fat products for today’s health-conscious consumers.