The global plant-based hot dogs market is expected to reach a market valuation of USD 828.90 million by the year 2033, accelerating with a CAGR of 16.7% between 2023 and 2033. Plant-based hot dog sales are likely to account for USD 496.30 million in 2023.
It is a plant-based product made of wheat gluten, soy protein, and other plant-based proteins. These plant-based hot dogs resemble conventional animal-based hot dogs in taste and appearance.
There is increasing pressure on companies to adopt new technologies that can produce plant-based hot dogs with the same texture as those made from animals. Plant-based hot dogs can be rich in calcium, potassium, iron, magnesium, and vitamin B.
For instance, recently, Beyond Meat, a Los Angeles-based producer of plant-based meat substitutes, released a vegan hot dog made from pea protein and beet juice that has been approved by the American Heart Association.
Increasing health concerns such as stomach and gallbladder polyps have increased global interest in plant-based hot dogs. Plant-based hot dogs have gained popularity in recent years due to people's growing desire for healthy eating habits.
The demand for meat alternatives to food meals has surged in recent years, and manufacturers are seeking to tap into this lucrative market with new vegan products. Increasing plant-based product demands have prompted small and medium manufacturers to strengthen their businesses in the coming years as new opportunities emerge in the market.
Plant-based hot dogs are forecast to grow significantly during the forecast years due to these factors. The fermentation industry has made several technological advancements in recent years. Plant-based products are produced using various approaches, such as twin screws.
These approaches help manufacturers to achieve meaty textures and satisfy consumer expectations. In addition to delivering mouth-watering plant-derived meat, they ensure that the food product is a healthy alternative to animal-sourced food.
| Attributes | Details |
|---|---|
| Plant-based Hot Dogs Market Value (2023) | USD 496.30 million |
| Plant-based Hot Dogs Market Expected Value (2033) | USD 828.90 million |
| Plant-based Hot Dogs Market Projected CAGR (2023 to 2033) | 16.7% |
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Over the past few years, consumer preferences have steadily shifted, resulting in global demand for healthy and sustainable food. Consumer preference for animal-sourced hot dogs has dropped and plant-based hot dogs have gained ground.
In response, companies have begun to offer consumers more plant-based hot dog options. These hot dogs are readily available in restaurants worldwide. With the product now being accessible to more consumers, the market for hot dogs has seen vigorous growth because of increased consumer reach.
| Historical CAGR | 7.6% |
|---|---|
| Historical Market Value (2022) | USD 3864.9 Million |
| Forecast CAGR | 16.7% |
Industrial fermentation may not be tremendous in increasing sales of the strongest heat market. Mechanical approaches such as biaxially extruded under high pressure and temperature for reconstructed protein concentrates are well documented.
These helped the texture and mouthpieces of meat-related meat products. Not possible for food is on a precision fermentation approach to extract planar-based proteins. Food giants use genetically engineered yeast strains to create the meat-like ingredient "leghemoglobin." Similarly, other similar startups such as Perfect Day and Meat Foods have earned and generated over USD 1 billion.
The government is broadly promoting the consumption of plant-based meat substitutes to achieve the long-term goal of sustainable development. In 2018, the federal government invested USD 780,000 in research and development of the next level of vegan meat, which tastes and feels like traditional meat.
Similarly, the Good Food Institute (GFI), a US-based nonprofit organization, has raised USD 3 million to support plant-based meat research.
In addition, in 2020, the organization announced a pilot course on alternative proteins at the Hebrew University of Jerusalem, Israel, to promote the consumption of plant-based meat. Such initiatives can greatly help improve the future growth prospects of plant-based hot dogs.
With the growing popularity of plant-based hot dogs and other meat-like products, the industry is not without challenges and obstacles. Cases of mislabeling and misbranding of products have attracted the attention of rights activists and unions who are actively taking legal action against such laws and organizations.
In 2019, the American Civil Liberties Union and Tofurky challenge the Arkansas Act 501 to "protect consumers from misunderstandings or confusion" by disclosing "the truth of labeling." The law is the exact opposite, allegedly preventing Tofurky from accurately describing the product.
| Segment | Product Type |
|---|---|
| Attributes | Plant-based Beef |
| Historic CAGR | 11.2% |
| Forecasted CAGR | 12.4% |
By product type, plant-based beef hot dogs are expected to generate the largest sales by the end of 2023, accounting for nearly three-fifths of the global market share. Players like Impossible Foods successfully penetrate the plant-based beef space and serve a wide variety of foods to a wide customer base. The plant-based beef is expanding rapidly and is expected to reach 12.4% CAGR by the end of 2023.
In 2019, Moving Mountains unveiled the first plant-based pork hot dog across the United Kingdom and recently secured export deals with the human body in the Middle East and the United States. Soy protein is especially beneficial for heart disease and helps reduce cardiovascular disease and regulate cholesterol levels.
In recent years, the burden of cardiovascular disease has increased. In 2016, about 18 million people died of hearing loss, accounting for 31% of the world's deaths. Concerned about this, consumers have consciously sought to switch to a healthier diet that contains soy-derived protein.
Through distribution channels, online plant-based hot dog retail is expected to significantly expand its market reach over the next decade. A stellar CAGR of over 20% is projected by the end of 2023, primarily due to increased online purchases due to the pandemic crisis.
The HoReCa segment is expected to gain significant momentum as the blockade is eased by flattening the infection curve in some countries. However, revenue sharing is expected to slow slightly as medical professionals anticipate a second wave of infection.
| Segment | Source Type |
|---|---|
| Attributes | Soy Protein |
| Historic CAGR | 7.2% |
| Forecasted CAGR | 8.5% |
Plant-based hot dogs made from soy have become popular for a variety of reasons, including their ability to combat diseases. It is anticipated that the trend for soy plant-based hot dogs may become more prevalent in the future.
This is due to dietary fiber's valuable role in preventing cardiovascular disease, type 2 diabetes, and constipation. Moreover, soy-based hot dogs are rich in iron, which aids in blood flow, immune function, and energy storage.
| Regions | North America |
|---|---|
| Countries | United States |
| Historic CAGR | 7.3% |
| Forecasted CAGR | 8.3% |
| Absolute Dollar Growth | USD 170.6 million |
| Market Value (2033) | USD 310.1 million |
| Regions | Europe |
|---|---|
| Countries | Germany |
| Historic CAGR | 6.2% |
| Forecasted CAGR | 7.0% |
| Absolute Dollar Growth | USD 51.95 million |
| Market Value (2033) | USD 106.02 million |
| Regions | Europe |
|---|---|
| Countries | United Kingdom |
| Historic CAGR | 10.3% |
| Forecasted CAGR | 11.1% |
| Absolute Dollar Growth | USD 51.68 million |
| Market Value (2033) | USD 79.51 million |
| Regions | Asia Pacific |
|---|---|
| Countries | China |
| Historic CAGR | 8.5% |
| Forecasted CAGR | 9.3% |
| Absolute Dollar Growth | USD 124.32 million |
| Market Value (2033) | USD 210.71 million |
| Regions | Asia Pacific |
|---|---|
| Countries | Spain |
| Historic CAGR | 13.2% |
| Forecasted CAGR | 14.9% |
| Absolute Dollar Growth | USD 33.79 million |
| Market Value (2033) | USD 45.06 million |
It is expected that the plant-based hot dog market in the United States may exceed its CAGR by 8.3% in 2023. Due to the presence of fast-food giants in the region, the United States holds the largest market share in the North American region for plant-based hot dogs. As a result, renowned manufacturers are seeing credible growth opportunities throughout the region.
Europe is projected to be a market tycoon and will account for more than half of the share of global sales over the next two years. Maximum consumption is expected to occur across the United Kingdom.
According to the Vegan Society, there are nearly 600,000 vegans in the United Kingdom, with 2018 sales of £ 740m, forcing a variety of manufacturers to establish businesses in key markets. In August 2020, furniture giant IKEA launched a new plant-based hot dog in its Swedish store.
Also in January 2020, Nestle Foods announced plans to launch a garden gourmet vegan sausage containing 13 grams of plant-based protein, zero cholesterol, and about 40% less fat than pork sausage. The launch of such products has helped improve the market outlook in recent years.
India’s plant-based hot dog market is poised to drive growth throughout 2023 and become one of the fastest-growing markets. Cultural awareness related to meat consumption has been driving the Indian market for vegan products for many years.
In addition, a heightened awareness of environmental sustainability also acts as a catalyst. It is estimated that livestock accounts for 63% of India's total greenhouse gas emissions.
Good Dot was founded in 2016 to make the vegan dream come true. This is the first plant-based chicken startup in the country. It currently operates a series of restaurants called GoodDO, serving all-vegan classic Indian cuisine.
It seems that several new industry players are concentrating their efforts on consolidating their distribution channels. They are also focusing on direct marketing as a way of getting a foothold in the plant-based hot dog market.
The plant-based hot dog market has seen significant growth in recent years, as consumers become more interested in plant-based and vegan options. Several start-ups are operating in this space, offering innovative and delicious plant-based hot dogs to consumers. Here are a few examples:
Beyond Meat: Beyond Meat is a well-known plant-based meat company that offers a range of products, including Beyond Sausage, which is a plant-based sausage that can be used as a hot dog. Beyond Meat's products are made with pea protein, and are designed to look, cook, and taste like meat.
Field Roast: Field Roast is another plant-based meat company that offers a range of sausages and hot dogs. Their products are made with wheat protein and are designed to mimic the texture and flavor of meat-based sausages.
Tofurky: Tofurky is a plant-based meat company that offers a range of products, including hot dogs made from organic tofu and wheat protein. Their hot dogs are non-GMO, vegan, and free from artificial preservatives.
Lightlife: Lightlife is a plant-based meat company that offers a range of products, including hot dogs made from pea protein. Their hot dogs are vegan, non-GMO, and free from artificial flavors and colors.
The Very Good Butchers: The Very Good Butchers is a plant-based meat company that offers a range of products, including hot dogs made from pea protein and wheat gluten. Their products are vegan, non-GMO, and free from artificial preservatives.
Inflows of Funds are Expected as Market Players Expand their Footprints
Leading companies are leaving no stone unturned to gain a competitive edge and boost the plant-based hot dogs market outlook. Several meat alternative companies have ramped up their production of plant-based products, including Impossible Foods and Beyond Meat.
The global plant-based hot dog market is characterized by the presence of multiple manufacturers, rendering the market highly competitive. The market is so competitive that market participants enter into strategic partnerships with well-known brand labels to expand their business capabilities and reach. In addition, these players integrate numerous innovations to offer a wide range of products.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2023 |
| Market Analysis | USD million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Germany, UK, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Product Type, Source, Distribution Channel, Region |
| Key Companies Profiled | Quorn Foods; Morningstar Farms; Daring Foods; Yves Veggie Cuisine; Gardein; Ingredion Inc.; Glanbia Plc.; Beyond Meat Inc.; Nestle SA; Archer Daniels Midland Company; Cargill Incorporated; Roquette Frères S.A.; Symrise; Kemin Industries Inc.; MGP Ingredients Inc.; Gushen Biotechnology Group Co. Ltd.; CHS Inc.; Beneo GmbH; Tyson Foods Inc.; Puris Proteins LLC; Vestkron A/S; Wilmar International Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The plant-based hot dogs market is growing at a CAGR of 12%.
The increasing demand for vegan and vegetarian products, the rising awareness of the health benefits of plant-based foods, and the growing popularity of flexitarian diets are driving the growth of the plant-based hot dogs market.
The high cost of plant-based ingredients, the lack of availability of plant-based hot dogs in traditional retail channels, and the negative perception of some consumers about the taste and texture of plant-based hot dogs are some of the challenges faced by the plant-based hot dog market.
Some of the key players in the plant-based hot dog market include Beyond Meat, Tofurky, Field Roast, Lightlife, and Yves Veggie Cuisine.
Some of the latest trends in the plant-based hot dog market include the use of innovative ingredients such as pea protein and jackfruit, the introduction of new flavors and varieties, and the expansion of new retail channels.
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Plant-based Hot Dogs Market
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