Top dog: Import competition is expected to ease as the US dollar depreciates, allowing profit to expand and promoting US sausages abroad
Hot dog and sausage producers enjoy solid market acceptance for their products. While demand for sausage products is seasonal, being highest in the summertime, the industry's low price point has insulated producers from consumer concerns about red meat's link to heart disease and uncertainty through the COVID-19 pandemic. Revenue surged especially high in the years following the pandemic as drought lifted the price of meat products, and inflation in 2022 continued to push sausage prices upwards. Due to these uncharacteristically strong years of growth, industry-wide revenue has been growing at a CAGR of 4.2% over the past five years, and is expected to total $23.4 billion in 2023, when revenue will jump an estimated 1.7%.
Operators in this industry primarily produce hot dogs and sausages from slaughtered animals or a combination of meat byproducts from slaughtered animals.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Tyson Foods, Inc.
- Smithfield Foods Inc.
- Kraft Heinz Co
Methodology
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