Market Overview:
Hot dogs and sausages are gaining popularity around the
world due to their taste, convenience and variety they offer. Hot dogs are made
from meat trimmings which are ground into a fine mixture with other ingredients
added for flavor. They have great taste and the natural casing gives them a
great texture. On the other hand, sausage is a general term for any food item
that consists of herbs various spices, fat, and ground meat that are stuffed
into a casing.
Sausages provide high levels of Vitamin B-12 and Iron, both
of which are essential for healthy red blood cells and hemoglobin production. Hot
dogs and sausages are offered with various flavors such as honey, teriyaki,
spicy, barbeque, and brown sugar. Over the years, the demand for hot dogs and
sausages has increased due to rising preference towards healthy food.
Competitive
Landscape:
Major players operating in the global hot dogs and sausages market
are Atria Plc., Johnsonville, BOB EVANS FARMS, LLC, ANIMEX Foods Sp. z o.o. sp.
k., ELPOZO ALIMENTACIÓN S.A., Bar-S Foods (A Sigma Company), San Miguel
Purefoods Company, Inc., Nestlé S.A., and Hormel Foods corp.
Key Market Drivers:
Growing popularity of hot dogs and sausages and increasing
trend of on-the-go food items is expected to propel growth of the hot dogs and
sausages market during the forecast period. For instance, in May 2021, Sweet
Earth announced the launch of their first ever Vegan Jumbo Hot Dogs and the new
and improved Sweet Earth Awesome Burger 2.0 in the United States to meet
growing consumer demand.
Moreover, increasing demand for hot dogs and sausages due to
the growing awareness of the high nutritional content of these products is expected
to augment the growth of the hot dogs and sausages market. For instance, in
April 2021, Nathan’s Famous announced its partnership with Meatless Farm to
bring consumers the industry’s first gourmet, plant-based hot dog, a product
created not just for flexitarian and vegetarian customers, but all who enjoy
healthy diet.
COVID-19 Impact
Analysis:
The food and beverage industry has been hit particularly
hard by the pandemic, as many retail partners, food outlets, and restaurants
were forced to close during the peak of the pandemic. However, there was high
demand for on-the-go foods like hot dogs and sausages during the pandemic. In
2020, New Yorkers spent more money on hot dogs in retail stores (around US$
133.6 million) than any other market in the country. Residents of Los Angeles
came in second with US$ 94.6 million spent on hot dogs. Moreover, there is an
increasing demand for organic hot dogs and sausages to avoid the risk of being
overweight or obese. This in turn is expected to boost the growth of the hot
dogs and sausages market.
Key Takeaways
·
The hot dogs and sausages market is expected to
exhibit a CAGR of 3.0% during
the forecast period owing to the introduction of healthier hot dogs and
sausages worldwide. For instance, in April 2021, Greenleaf Foods expanded its
range at Whole Foods to meet growing consumer demand. Among them is the brand
new Field Roast Signature Stadium Dog, which according to the company is the
first plant-based hot dog to be made with pea protein rather than soy. It will
be sold in a six-link pack in the United States.
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