Global Plant-based Hot Dogs Market: Overview
The plant-based hot dog is a non-meat product made of wheat gluten, soy protein, and various other plant-based proteins. These plant-based hot dogs look and taste like conventional animal-based hot dogs. Companies are working on adopting new technologies that can help them to deliver the same texture as the animal-based ones. Plant-based hot dogs are rich in phosphorus, iron, magnesium, calcium, potassium, B complex vitamin, and protein.
Global Plant-based Hot Dogs Market: Growth Factors
Rising health concerns like stomach and gallbladder polyps have increased the demand for plant-based hot dogs in the market. The global plant-based hot dogs market has gained popularity in recent years due to the growing inclination of people toward a healthy food diet.
The emergence of COVID-19 has led the people to develop a probable link between the pandemic crisis and animal agriculture. Hence, it creates the huge demand for plant-based hot dogs in the market. There is an unprecedented shift in veganism since the beginning of the pandemic.
There is a growing demand for meat alternatives to food meals. The surge in demand propels the manufacturers to bring new vegan products into the lucrative market during the forecast period. The emergence of new opportunities in the market in the coming years has induced the small and medium manufacturers to strengthen their business with the rising plant-based products demands.
Thus, these factors are fueling the global plant-based hot dogs market to grow significantly during the forecast years.
The fermentation industry has made several advancements in recent times. Various approaches like the twin-screw are adopted. These approaches helped the manufacturers to bring the meaty texture to plant-based products and satisfy the expectation of consumers. They assist in delivering the mouth-watering plant-based meat which is a perfect alternative to the animal-based food product.
Global Plant-based Hot Dogs Market: Segmentation
The global plant-based hot dogs market can be segmented into product, source, distribution channel, and region.
By product, the market can be segmented into plant-based beef, plant-based pork, and plant-based chicken. Among the classifications, the plant-based beef product holds the largest share in the global plant-based hot dogs market due to the increased penetration of the beef domain that offers foodstuffs to cater the broad customer base. Plant-based pork products are expected to grow exponentially during the forecast period.
By source, the market can be segmented into chia-based protein, flax-based protein, lentil-based protein, canola-based protein, rice-based protein, potato-based protein, pea-based protein, wheat-based protein, soy-based protein, and many more.
The soy-based protein segment dominates the global plant-based hot dogs market owing to its numerous benefits to the human body. Soy protein has a lot of benefits like regulating cholesterol level disorders.
The surge in cardiovascular diseases has contributed to the growth of the segment.
By distribution channel, the market can be segmented into HoReCa, online retail, specialty food stores, convenience stores, supermarkets, and retail.
The online retail store segment holds the largest market share globally. It is expected to grow exponentially during the forecast period.
The COVID-19 pandemic crisis has also contributed to the proliferation of the segment. People avoid traveling to market areas to maintain social distancing norms.
Global Plant-based Hot Dogs Market: Regional analysis
South Asia emerged as the fastest-growing region in the global plant-based hot dogs market. Changing cultural perceptions of people and the adoption of plant-based products are driving the market growth.
Europe is expected to dominate the market over the forecast period due to rapid transformation in the lifestyle of people and growing awareness of healthy food among people.
North America is expected to grow significantly during the forecast period due to the changing consumption patterns.
Global Plant-based Hot Dogs Market: Competitive Player
Some of the significant companies in the global plant-based hot dogs market are Roquette Frères S.A., Cargill Incorporated, Archer Daniels Midland Company, Nestle SA, Beyond Meat Inc., Glanbia Plc., Gardein, Ingredion Inc., Yves Veggie Cuisine, Daring Foods, Morningstar Farms, and Quorn Foods.
Global Plant-based Hot Dogs Market: Regional Segment Analysis
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