Sandwiches: Key market research findings
- Product innovations and new ingredients
- Growing acceptance of sandwiches as a breakfast meal
- Key players include Arby’s, Greggs, Jimmy John’s, Subway, and Wendy’s
Technavio’s market research analysts predict the global sandwiches market to grow at a CAGR of around 2% by 2020. Vendors in the market are coming up with several innovations in sandwiches including new ingredients, toppings and bread forms. Many vendors have developed products that contain toppings such as mayonnaise and ketchup together. They have replaced lettuces with vegetables like roasted broccoli and asparagus. Sandwiches with seafood ingredients such as crab, lobster, and whitefish have gained widespread popularity among consumers. Pretzel, brioche, Hawaiian rolls, and homemade bread are replacing the traditional white bread in sandwiches. Europe occupied around 52% of the total sandwiches market in 2015. Much of the region’s growth can be attributed to the increasing demand for convenient food products, new product launches, and mergers and acquisitions in the market.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“An interesting trend gaining prominence in the market is the acceptance of sandwiches as a breakfast dish. Owing to hectic schedules and busy lifestyles, consumers prefer to grab and go products. Consumers are demanding products that offer convenience as well as consist of healthy and nutrient rich ingredients. They are opting for products that are enriched with functional ingredients, proteins, and fiber. Vendors such as Dunkin Donuts and Kellogg’s have launched breakfast sandwiches which include different breakfast meats, egg, and cheese,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
The fresh sandwiches segment dominated the market in 2015 and accounted for nearly 63% of the total market share in terms of revenue. The demand for fresh sandwiches is increasing as most consumers prefer to buy sandwiches than making at home due busy lifestyle and work schedule. Moreover, the leading vendors like Subway and McDonald’s are opening new stores and are coming up with innovative products that have new toppings and carriers to cater to the rising consumer demand.
The global sandwiches market is extremely fragmented due to the presence of many international and local vendors. Since the food and beverage industry is subjected to rapidly changing consumer demands and preferences, this market may be affected by the changing consumer tastes and preferences. The vendors in this market compete in terms of price, quality, product differentiation, distribution, and promotion to gain maximum market prominence during the forecast period. The competitive environment is likely to intensify with an increase in product or service extensions, product innovations, and M&A activity.
A more detailed analysis is available in the Technavio report, Global Sandwiches Market 2016-2020
We can customize reports by other regions and specific segments upon request.
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