Dublin, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The "Hot Dogs and Sausages Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The hot dogs and sausages market are expected to grow at a compound annual growth rate of 4.08% over the forecast period to reach a market size of US$96.405 billion in 2025 from US$75.839 billion in 2019.
The rate at which urbanization is taking place which in turn is buttressed by globalization and rural to urban migration is facilitating the adoption of new consumption trends which have accommodated the inclusion of sausages and hotdogs among others. As of 2018, North America was the most urbanized region of the world, wherein the urban areas constituted 82% of the total population. This was followed by 81% of the population of Latin American and Caribbean which are concentrated in urban settlements and 74 % of the population of Europe that is concentrated in urban settlements.
An increase in consumption of pig meat is estimated to increase globally to 127 Mt during the next few years, accounting for 28%% of the total increase in meat consumption. In developing countries, per capita consumption of pig meat, which is reportedly half of that in developed countries, is anticipated to increase marginally over the projection period.
Moreover with per capita consumption of pig meat that has grown rapidly which has been facilitated by favorable prices the growth rates of pig meat are expected to be sustained by most Latin America along with poultry to meet the rising demand from the middle class. Additionally, consumption is projected to increase to 76 Mt over the next ten years and to account for 16% of the total increase in meat consumption compared to the base period.
Despite a low base, Asia is the only region where it is projected to increase its per capita beef consumption. Conversely, the food expenditures per individual in developed countries are gradually directed toward convenience food and eating-out than the erstwhile purchase of fresh produce meant for home cooking.
For example, in April 2019 it was reported that Chinese pork processor Jinluo has been targeting China's health-conscious urbanites with several new ranges of heat-treated sausage snacks. Moreover, Cherkizovo Group (LSE: CHE, MCX: GCHE) which claims to be Russia's largest consumer-centric manufacturer of meat products which earlier in 2018 as part of its growth plans has established a fully automated smoked sausage factory sausage in Kashira, has reportedly in October 2019 has invested in a comprehensive rebranding of across more than 300 products categories pertaining to sausages, among others. This strategic initiative includes the improvement of recipes of its sausages, among others, the removal of non-performing products as well as enhancement of product appearance.
While products made with meat-based ingredients are promising for the hotdog and sausage market the recent developments of plant-based alternatives are expected to drive the growth of the hotdog and sausage market to a new echelon. This stems from the fact that veganism and flexitarian eat habits are no more restricted to a fringe group. They are being increasingly adopted as a result of changing lifestyles rather than as an outcome of self-imposed dietary restriction.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Hot Dogs and Sausages Market Analysis, by Farming Type
6. Hot Dogs and Sausages Market Analysis, by Ingredient Type
7. Hot Dogs and Sausages Market Analysis, by Product Type
8. Hot Dogs and Sausages Market Analysis, by Packaging Type
8.3. Flow Pack
9. Hot Dogs and Sausages Market Analysis, by Distribution Channel
10. Hot Dogs and Sausages Market Analysis, by Geography
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles
12.1. Lilydale (Sofina Foods Inc.)
12.2. Hoffman Sausage Company
12.3. Cabana Argentina
12.4. Ti-Cay Procesadora De Alimentos
12.5. Brito's Group
12.6. Khazan Meat Factory (Mezzan Holding Co. Ksc)
12.7. Pick Szeged Zrt.
12.8. Stockmeyer Gruppe (Heristo Aktiengesellschaft)
10.9. CONG TY CO PHAN THUC PHAM DUC VIET
12.10. Cp Cambodia.
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