Albany, NY, May 09, 2016 (GLOBE NEWSWIRE) -- According to the research 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 5,664.7 Kg-million in 2014 and is expected to reach 6,443.6 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 gaining popularity around the world due to taste, convenience and variety. The Hot Dogs and Sausages market has experienced varied trends across different region such as North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. The global hot dogs and sausages market is expected to witness growth due to increasing number of household with kids, huge popularity of hot dogs and sausages among the younger generation, rising demand for organic food items, busy lifestyle of people and unique marketing strategies by the leading hot dogs and sausages manufacturers.
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Rising demand for organic food items: Manufacturers have now started producing organic sausages and hot dogs to better serve the rising demand of their customer base. Additionally, Huge popularity of hot dogs and sausages among the younger generation is another major driving factor for the hot dogs and sausages industry. School and college students tend to consume hot dogs and sausages for lunch. Further, many hot dogs and sausages manufacturers have started to introduce low fat and calorie products. Increasing number of geriatric people and people suffering from obesity has now started to consume low fat and calorie hot dogs and sausages.
People have started to avoid food items with higher percentage of fats and cholesterol, which is greatly restraining the hot dogs and sausages market. Additionally, rising number of adults suffering from hyper obesity worldwide is also impeding the growth of the global hot dogs and sausages market.
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However, growth in retail in developing countries and limited number of existing players in many countries is expected to serve as a suitable opportunity for the growth of the global hot dogs and sausages market in the future.
Among the different regions including North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, Asia Pacific held the largest market share of 39.9% in 2014, followed by Europe and North America. In 2014 Europe held a market share of 26.9%. This trend is expected to be the same over the forecast period. It is estimated that Asia Pacific would be the largest market for hot dogs and sausages in 2021, followed by Europe.
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 by 2021 in terms of revenue. The market in terms of revenue is projected to grow at a CAGR of 3.1% from 2015 to 2021.
Bar S Foods Co., ConAgra Foods Inc., Sara Lee Food and Beverage Johnsonville Sausage LLC are some of the major players operating in the hot dogs and sausages market.
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Global Hot Dogs and Sausages Market by Meat Type
- Pork
- Beef
- Chicken
- Others
Global Hot Dogs and Sausages by Product Type
- 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
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