From roadside cafeterias to supermarkets, hot dogs and sausages are sold everywhere. This junk food is immensely popular because of its superb taste and eating convenience. According to Transparency Market Research, a U.S.-based market intelligence firm, the global market for hot dogs and sausages had reached a value of US$64.76 billion in 2014, reporting a 5,664.7 million kg production volume. Between 2015 and 2020, analysts expect it to be growing at a CAGR of 3.1% in terms of market value and 1.8% in terms of production volume. By 2021, the market is estimated to reach a value of US$80.45 billion, attaining a production volume of 6,443.6 million kg.
Cocktail Sausages: Reporting Highest Demand
Hot dogs and sausages are enjoyed all over the world. Mostly, beef, pork, chicken, and mutton are used to prepare sausages. Among various types of hot dogs and sausages available in the market, cocktail sausages are the most popular ones. This segment accounted for the biggest market share in terms of both value and volume in 2014. Analysts expect it to continue its leading position in the market till 2021.
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North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA) are the major regional markets for hot dogs and sausages. Of these, Asia Pacific and MEA led the global market by a comfortable distance, and here’s why:
Large Youth Population Base in China and Japan Made Asia Pacific Global Leader
In 2014, the hot dogs and sausages market in Asia Pacific led the global industry with a share of 39.9%, followed by Europe, which occupied a 26.9% share of the overall market.
Hot dogs and sausages are extremely popular among the young generation of China and Japan. Apart from this, the busy lifestyles of people in these nations have prompted them to modify their eating habits. Hot dogs and sausages appropriately fit into their style as they are hassle-free and easy to consume.
Hot Dogs and Sausages Market: International Participants
Bar-S Foods, Bob Evans Farms, ConAgra Foods, and Johnsonville Sausage lead the hot dogs and sausages market in the global arena. Other prominent multinational companies operating in this market are CPF, John Morrell Foods, Maple Lodge Farms, Elpozo, Qualtia, Armour Eckrich, Campofrio Foods, Sigma Alimentos, Purefoods Hormel, Animex, Family Dollar Stores, Ayamas, JBS Argentina, Tyson Foods, Boklunder, Kent Quality Foods, Sara Lee Food & Beverage, Venky’s, Fresh Mark, Atria, and Prabhat Poultry.
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To Whom is Asia Pacific Losing its Market Share ?
The Asia Pacific hot dogs and sausages market is losing ground to the market in Middle East and Africa. The MEA market is likely to report the highest growth rate over the next six years in terms of market value and volume produced. The market is projected to develop at a CAGR of 3.4% in terms of market value and 2.9% in terms of volume during the period of 2015-2021.
Among other regions, North America and Latin America are witnessing record sales of hot dogs and sausages owing to the introduction of new flavors. Europe is also experiencing a significant rise in its market share on account of sturdy sales at retail level. Venues such as airports, malls, multiplexes, ballparks, and restaurants continue to post high sales in this region.