Low Fat Sausage Market to Reach $4.8 Billion, Globally, by 2031 at 6.7% CAGR: Allied Market Research

Increase in consumption of fast food and processed food, increase in demand for clean label and natural products, and rise in disposable income of consumers drive the global low fat sausage market.

PORTLAND, Ore., Nov. 2, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Low Fat Sausage Market by Type (Pork, Beef, Chicken, Plant based, Others), by End User (Residential, Commercial), by Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Convenience Stores, Online Sales Channels, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global low fat sausage industry generated $2.5 billion in 2021, and is estimated to reach $4.8 billion by 2031, witnessing a CAGR of 6.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Download Free Sample Report (331 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/32236

Drivers and Opportunities

Increase in consumption of fast food and processed food, increase in demand for clean label and natural products, and rise in disposable income of consumers drive the growth of the global low fat sausage market. However, a wide range of health problems related to sausages hamper the market growth. On the other hand, the inclination of consumers toward flavored and processed meat products, increase in penetration of the internet, and the rise in inclination of consumers toward online shopping present new opportunities for the market in the coming years.

Covid-19 Scenario

• The COVID-19 outbreak impacted the low fat sausage market negatively at the initial stage.
• However, sales eventually increased when the government allowed home delivery of food items. Online food delivery platforms such as Zomato, Dunzo, Deliveroo, and Swiggy played an essential role in increasing the sales of low-fat sausage products during the lockdown period.
• With the lifting of restrictions and reduction in Covid-19 cases, the sales of low-fat sausage has stabilized and the market is now in full swing.

The pork segment to rule the roost during the forecast period

Based on type, the pork segment was the largest market in 2021, contributing to nearly one-third of the global low fat sausage market, and is expected to maintain its leadership status during the forecast period. Pork products are popular among consumers, as they contain less saturated fat, cholesterol, and sodium. Moreover, it is lower in calories and protein quality is better than beef due to the presence of a high quantity of amino acids. On the other hand, the plant based sausage segment is projected to witness the fastest CAGR of 9.0% from 2022 to 2031. The segment is slated to gain traction over the forecasting years because of the rise in trend of veganism and launching of new plant based sausages by firms such as Nestle S.A. aiming to offer low fat vegan products to its consumers. In addition, the key market players are grabbing the opportunity and introducing new variants of plant-based meats in the global market.

The commercial segment to maintain its dominance during the forecast period

Based on end user, the commercial segment held the largest market share of four-fifths of the global low fat sausage market in 2021, and is expected to maintain its dominance during the forecast period. This is due to the growing demand for commercial areas such as restaurant and café as places for consumers to socialize and spend time with new and different food. On the other hand, the residential segment is projected to witness the largest CAGR of 7.9% from 2022 to 2031. The major factors that drive the growth of the residential segment include rise in disposable income, rapid urbanization, growth in the demand for convenient food products, and increase in consumption of meat and meat products including sausages.

The online sales channels segment to maintain the fastest growth during the forecast period

Based on distribution channel, the hypermarkets and supermarkets segment held the largest market share of nearly two-fifths of the global low fat sausage market in 2021, and is expected to maintain its dominance during the forecast period. This is because consumers have easy access to niche products on the market in these kind of stores. Moreover, the establishment of hypermarkets/supermarkets offer lucrative opportunities for the growth of the global low fat sausage market. However, the online sales channels segment is projected to witness the highest CAGR of 9.0% from 2022 to 2031. Low fat sausage can be conveniently sold via online sales channels and people opt for these channels to buy various products to save time and money, thereby prominently driving the segmental growth.

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North America to maintain its dominance by 2031

Based on region, North America was the largest market in 2021, capturing nearly two-fifths of the global low fat sausage market, and is expected to lead the trail during the forecast period. The North American low fat sausage market is anticipated to expand rapidly due to the surge in working population, increase in disposable income of consumers, high demand for ready-to-cook & ready-to-eat food products, and an increase in number of players entering the market. However, the Asia-Pacific market is projected to manifest the fastest CAGR of 8.6% during the forecast period. Asia-Pacific is the largest producer and consumer of meat and meat products across the globe. This provides a lucrative growth opportunity for the key players operating in the low fat sausage market in the region.

Leading Market Players

• Atria Plc
• Beyond Meat, Inc.
• Heck Food Ltd.
• Hormel Foods Corp.
• JBS S.A.
• Johnsonville LLC.
• Nestlé S.A.
• Premium Brands Holding Corporation
• Tyson Foods
• WH Group Limited

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://bit.ly/3TZhbld

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SOURCE Allied Market Research