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.
Albany, NY -- (SBWIRE) -- 08/12/2016 -- Convenience is an important driving factor of the global food industry. Even in the more traditional regional markets, such as Asia, culinary traditions are seen making an evident shift towards convenience foods. Increasingly busy lifestyles and longer working hours are making convenience foods the food of choice among working women, time-pressed urban households, and younger consumers. Hotdogs and sausages, two of the most popular convenient foods in some regions of the globe, are expected to exhibit moderate yet positive growth in their demand owing to these reasons in the coming years.
With the use of a lucid chapter-wise format, combined with a vast number of tables and infographics, the report systematically analyzes the current state of the global hot dogs and sausages market. The report analyzes the various varieties of hot dogs and sausages, each of which is analyzed from a global and regional standpoint.
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The report makes use of a variety of secondary and primary research techniques and relies on a number of industry-best analysis tools and research databases. With the extensive statistical information, graphical data elements, and other data presented in an easily comprehensible form, the report makes for a valuable asset for investors, managers, and decision makers in the global market for hot dogs and sausages.
Overview of the Global Hot Dog and Sausages Market
The report states that the global market for hot dogs and sausages, which had a valuation of US$64.76 bn in 2014, will expand at a moderate albeit positive 3.1% CAGR between 2015 and 2021. At this rate, the market is expected to rise to US$80.45 bn by 2021. Volume-wise, the market totaled 5.6 bn kg in 2014 and is expected to grow at a 1.8% CAGR over the report's forecast period to rise to a valuation of 6.4 bn kg by 2021.
The key driving forces boosting the demand for hot dogs and sausages across the globe are rising urbanization, busy lifestyles, increasing number of households with children, new flavors, and convenient products. Demand for hot dogs and sausages also varies according to season. For instance, the demand for dinner sausages is higher during summers, while the demand for breakfast sausages is higher during holiday months.
The rising demand for hygienic, low-fat, and low-calorie food is an area that presents huge growth opportunities for the global hot dogs and sausages market.
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The report segments the global hot dogs and sausages market based on the types of meat used in the product, types of products, and regional markets. Based on type of meat, the market is further segmented into pork, chicken, beef, and others. Based on type of products, the market is further segmented into cocktail sausages, frozen hot dogs and sausages, refrigerated dinner sausages, refrigerated breakfast sausages, and refrigerated hot dogs. Geography-wise, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2014, Asia Pacific held the largest share of revenue as well as volume-wise demand in the global hot dogs and sausages market. This regional market is expected to retain its leading position in the global hot dogs and sausages market over the report's forecast period owing to the huge population base of young people and rising urbanization in the region.
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Players in the Global Hot Dogs and Sausages Market
Some of the key companies operating in the global hot dogs and sausages market are Bar-S Foods Company, Bob Evans Farms Inc, Johnsonville Sausage LLC, and ConAgra Foods Inc.
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