Plant-based Hot Dogs Market

2020 Analysis and Review: Plant-based Hot Dogs Market by Product Type – Soy-based Protein, Wheat-based Protein et al. for 2020-2030

Introduction

The global plant-based hot dog market witnessed spectacular gains in 2020, with market revenues witnessing over 20% y-o-y growth. Global revenues are set to reach US$ 500 million by 2021-end, despite the COVID-19 blip.

As the COVID-19 pandemic intensifies, consumers are showing greater inclination towards healthy food consumption. According to Veganuary, over 40% of consumers concurred there is a possible link between animal agriculture and pandemics, a nudge many experts believe has led to unprecedented interest in veganism.

Newfound Interest, Accelerated by COVID-19

As meat alternatives consumption rises, manufacturers are scrambling to introduce new products in lucrative markets. According to an Oxford University Study published way before the pandemic, a global shift towards vegetarian diets could save nearly 8 million lives by 2050, reduce greenhouse gas emissions by 60% and yield savings of approximately US$ 1.5 trillion.

Realizing the opportunities, conglomerates as well as family-owned small manufacturers are strengthening their respective positions. For instance, Buhler Group partnered up with Tyson Foods and Temasek in Big Idea Ventures’ New Protein Fund initiative in 2020 to establish 100 plant and cell based start-ups. The gains in plant-based burger market are also testament to the growing popularity of plant-based food products.

Likewise, ProVeg International has collaborated with the Shanghai Society of Food Science with the objective of furthering development and innovations of sustainable plant-based foods. The effort was conceived in the form of an innovation contest which would see around 100 students racing to put forth innovative ideas for new products.

Growing Adoption of Advanced Fermentation Technologies

Industrial fermentation has tremendous potential in boosting plant-based hot dog market sales. Mechanical approaches such as twin screw extrusion under high pressures and temperatures to restructure protein concentrates are well documented. These have helped impart the meaty texture and mouthfeel associated with meat products.

Impossible Foods is at the forefront of precision fermentation approaches to extract plant-based proteins. The food giant uses a genetically engineered yeast strain to produce its trademark ‘lehemoglobin’ meat-like ingredient. Likewise, other similar start-ups such as Perfect Day and Meati Foods have also become prevalent, generation over a billion dollars.

The Nudge from Public-Private Partnerships

Governments are extensively promoting the consumption of plant-based meat alternatives to meet their long-term objectives of sustainable development. In 2018, the German government invested US$ 780,000 to research on and develop next-level vegan meats, imparting taste and texture similar to conventional meat.

Likewise, the Good Food Institute (GFI), a US-based non-profit organization, has raised US$ 3 million to facilitate plant-based meat research. Additionally, the organization also unveiled its pilot course on alternative proteins at The Hebrew University in Jerusalem, Israel in 2020.

In 2019, VIMPACT Foods initiated its vegan products business from Jaipur, India as part and parcel of the government’s Start-Up India campaign with the intention of promoting consumption of plant-based meat. Such initiatives are greatly helping boost growth prospects of plant-based hot dogs for the future.

The Labelling Conundrum

While the popularity of plant-based hot dogs and other meat analogues is increasing, the industry is not devoid of challenges or obstacles. Incidents of mislabeling and misbranding of products have garnered the attention of rights activists and unions, who have proactively initiated legal proceedings against such laws or entities.

In 2019, the American Civil Liberties Union and Tofurky filed a lawsuit against the Arkansas Act 501 which purports to “protect consumers from being misled or confused” by disclosing “truth in labelling.” It was alleged that the Act did just the opposite, and prevented Tofurky from accurately describing its products.

Plant-based Hot Dog- Region-wise Insights

North America Plant-based Hot Dog Market

North America is likely to account for nearly 30% of the global plant-based hot dog revenue by 2021, with plant-based beef hot dogs accounting for maximum sales. According to the National Hot Dog and Sausage Council, Americans spent over US$ 6 billion on hot dogs in 2019.

Consumption patterns across different states have varied, with New York registering sales worth nearly US$ 102 million. Consequently, prominent manufacturers foresee credible growth opportunities across the region.

Increased plant-based hot dogs consumption is also attributed to the rising number of COVID-19 infections, prompting consumers to switch over to non-meat diets. As of November 2020, total number of active cases have reached nearly 12 million, thus ushering in a major shift in food consumption patterns.

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Europe Plant-based Hot Dog Market

Europe is expected to be the market hegemon, accounting for over half of the global revenue share for the next 2 years. Maximum consumption is expected to occur across the U.K. According to the Vegan Society, there were nearly 600,000 vegans in Great Britain, generating £740 million in revenue in 2018.

This surging demand is a product of rapidly transitioning lifestyles and embracing of healthy eating trends, compelling various manufacturers to establish their businesses across key markets. In August 2020, furniture giant IKEA debuted its new plant-based hot dogs at a store in Sweden.

Also, in January 2020, Nestle foods announced plans to introduce the Garden Gourmet vegan sausages, containing 13 grams of plant-based protein, zero cholesterol and around 40% less fat than a pork sausage. Such product launches have helped enhance market prospects in recent years.

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South Asia Plant-based Hot Dog Market

The South Asian plant-based hot dog market is set to emerge as one of the fastest growing markets, with India pivoting growth throughout 2020. Cultural perceptions regarding meat consumption is driving the Indian vegan products market since years.

Moreover, increasing awareness about environmental sustainability is also acting as a catalyst. It is estimated that 63% of India’s total greenhouse gas emissions are a result of livestock farming.

To fulfil the vegan dream, GoodDot, the country’s first plant-based chicken start-up, was established in 2016. Currently, it operates a chain of eateries christened GoodDO, which provides all-vegan classic Indian dishes.

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Category-wise Insights

Plant-based Beef Top-selling Category

By product type, plant-based beef hot dogs are anticipated to generate maximum revenue by 2020-end, comprising nearly three-fifths of the global market share. Players such as Impossible Foods have successfully penetrated the plant-based beef domain, offering a range of foodstuffs to a wide customer base.

Plant-based pork is expanding rapidly, expected to register nearly 22% CAGR by the end of the current year. In 2019, Moving Mountains introduced the first plant-based pork hot dog across the U.K., and has recently forged export deals with the Middle East and the U.S.

Soy-based Proteins Remain Preferred

Soy-based proteins are likely to retain lucrativeness, attributed to its numerous benefits to the human body. Soy proteins are especially beneficial for cardiac disorders, helping reduce cardiovascular diseases and regulating cholesterol levels.

In recent years, the burden of cardiovascular diseases have compounded. As of 2016, nearly 18 million people succumbed to hear failure, representing 31% of global deaths. Concerned by this, consumers have made conscious attempts to switch over to healthier diets which include soy-derived proteins.

Online Sales to Proliferate

By distribution channel, online retailing of plant-based hot dogs is expected to greatly enhance its market scope in the forthcoming decade. A stellar CAGR exceeding 20% is projected by 2020-end, mostly attributed to rising online purchases due to the pandemic crisis.

The HoReCA segment is expected to pick up significant pace, owing to easing of lockdowns due to a flattening of infection curves across several countries. However, a slight deceleration in revenue share is on the cards, with health experts predicting a second incoming wave of infections.

COVID-19’s Impact on the Plant-based Hot Dog Market

The future plant-based hot dog market outlook is likely to vary in the face of the COVID-19 pandemic. The world is witnessing a significant fall in meat production and consumption.

According to Food & Agriculture Organization, global beef production is likely to fall by 1% to 72 million tons, while pork production will fall by almost 8%. This is largely because the global processing capacity has reduced due to social distancing measures and the resultant volatility in prices.

Moreover, rising consciousness about consuming immunity boosting and naturally derived foodstuffs has provided significant traction to plant-based hot dog sales during the pandemic crisis. The market is likely to survive the onslaught due to secure food supply chains established by various countries.

Developing economies are providing smallholder farmers support to enhance their productivity and provide a platform for them to market their produce, mostly through e-commerce channels. As a result, production of plant-based crops is increasing, leading to an abundant supply of raw materials to produce plant-based hot dogs.

Plant-based Hot Dog Market: Competitive Landscape

The global plant-based hot dog market is characterized by the presence of multiple manufacturers, rendering the market highly competitive. Some prominent players are*:

  • 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.

*This list is indicative- full details about plant-based hot dog vendors is available upon request.

Due to the highly competitive nature of the market, market players are forging strategic partnerships with prominent brand labels so as to expand their business capacities and outreach. Moreover, these players are incorporating numerous technological innovations to offer a wide range of products.

Archer Daniels is a frontrunner with respect to plant-based protein innovations. Its vegan chorizo crumbles, for instance, uses a 100% plant-based formula and incorporates non-GMO ingredients. Primary ingredients include the VegeFullTM Red Bean Grits and ProFam® Soy Protein formulation.

Likewise, Daring Foods is a pioneer in the plant-based chicken market. Its recent product launch includes the 100% plant-based chicken original breaded pieces, which comprises of 3x8oz pouches, equipped with a fully-recyclable and insulated packaging material.

Plant-based Hot Dog Market- Report Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

US$ Mn for Value & Metric Tons for Volume

Key Regions Covered

North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa

Key Countries Covered

U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC, Turkey, Northern Africa & South Africa

Key Segments Covered

Product Type, Source & Distribution Channel

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 and Wilmar International Ltd. 

Report Coverage

Market Introduction, COVID-19 Scenario Assessment, Key Market Trends, Key Success Factors, Market Background and Associated Industries, Demand Analysis, Segmental Overview, Regional Profiling, Market Structure Analysis and Competition Analysis

Customization & Pricing

Available upon Request

Key questions answered in the report

  • How will the plant-based hot dog market expand in the near-term?

    According to Future Market Insights (FMI), the global plant-based hot dog market is expected to ride a high growth trajectory, reaching nearly US$ 500 Mn by 2021. Growth is largely attributed to a surging consumption of natural food stuffs on the back of rising health concerns

  • Which is the largest market for plant-based hot dogs?

    Europe is expected to emerge as the plant-based hot dogs market hegemon, reaching US$ 492.8 Mn by 2025. Amongst all countries, the United Kingdom is expected to account for the maximum share of the revenue pie

  • What drivers underpin market growth?

    The global plant-based hot dog market is riding on the back of increasing collaborations among governmental, non-governmental and academic institutions and increasing developments in modern fermentation technologies

  • How is COVID-19 impacting growth prospects?

    The COVID-19 pandemic is providing leading plant-based hot dog brand providers to deepen penetration by expanding their online sales capacities. Moreover, existing manufacturers are securing their supply chains to stave off any recessionary impacts anticipated with the onset of the second wave of COVID-19 infections

  • Which are the prominent plant-based hot dog market players?

    Prominent plant-based hot dog players include 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 and Wilmar International Ltd. 

Enquiry before Buying

  • Is the plant-based hot dog market research conducted by Future Market Insights?

    Yes, the plant-based hot dog market report has been compiled by expert analysts of Future Market Insights through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample and it will be sent to you through an email.

  • How can I buy this report?

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Key Segments

Product Type

  • Plant-based Chicken
  • Plant-based Beef
  • Plant-based Pork

Source

  • Soy-based Protein
  • Wheat-based Protein
  • Pea-based Protein
  • Canola-based Protein
  • Fava-Bean Based Protein
  • Potato-based Protein
  • Rice-based Protein
  • Lentil-based Protein
  • Flax-based Protein
  • Chia-based Protein
  • Corn-based Protein

 

Distribution Channel

  • Retail
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Food Stores
  • Online Retail
  • HoReCa (Food Service Sector)

Region

  • North America (U.S & Canada)
  • Latin America (Brazil, Mexico & Rest of Latin America)
  • Europe (EU-4 (Germany, France, Spain, Italy), U.K, BENELUX, Nordics, Russia, Poland & Rest of Europe)
  • East Asia (China, Japan & South Korea)
  • South Asia (India, Thailand, Indonesia, Malaysia, Singapore & Rest of South Asia)
  • Oceania (Australia & New Zealand)
  • Middle East & Africa (GCC, South Africa, Turkey, Iran, Israel and Rest of MEA)

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Plant-based Hot Dogs Market