The research study covers the present scenario and growth prospects of the global sandwiches market for 2016-2020. The report also lists fresh sandwiches and pre-packaged sandwiches as the two major product segments.
Technavio food and beverage analysts highlight the following four factors that are contributing to the growth of the global sandwiches market:
- Premiumization of sandwiches
- Innovations in sandwiches
- Growing mergers and acquisitions
- Increased marketing and advertising campaigns
Premiumization of sandwiches
According to Arushi Thakur, an industry expert at Technavio for food research, “One of the major drivers of the global sandwiches market is the premiumization of sandwiches by vendors. Vendors are introducing premium sandwiches, which they claim to be made from high-quality ingredients.” With the resurgence of most of the economies from the global recession of 2008-2009, the per capita disposable income of consumers has increased, which has led to the demand for premium products. In March 2016, Sonic launched a new sandwich, Ultimate Chicken Club sandwich, to its line of premium sandwiches. In January 2016, Ginsters launched two limited edition sandwiches such as chicken balti and ham hock and piccalilli sandwiches.
The demand for artisan and handcrafted sandwiches is also increasing in countries such as the UK and the US. In October 2015, Tim Hortons Cafe & Bake Shop introduced a new premium line of handcrafted sandwiches. The new sandwiches feature freshly baked bread, real cheeses, and crisp vegetables.
Innovations in sandwiches
Innovation in sandwiches is another factor driving the global sandwiches market. Successful product innovation can lead to customer satisfaction. Some of the other advantages of product innovations are increased market share and profit margin for vendors. Vendors are bringing about innovations in every aspect of sandwiches from the toppings to the bread used in making them. Instead of the simple toppings like ketchup, vendors are introducing products that contain toppings such as mayonnaise and ketchup together. Also, vegetables such as roasted broccoli and asparagus are being used instead of lettuce in sandwiches. Sandwiches with seafood ingredients such as crab, lobster, and whitefish are also becoming popular among consumers. Traditional white bread is replaced by other varieties such as pretzel, brioche, Hawaiian rolls, and homemade bread.
Growing mergers and acquisitions
“Another factor responsible for the growth of the global sandwiches market is the increasing number of mergers and acquisitions in the market. Larger companies are acquiring smaller ones to gain the market share and also to offer new and innovative products,” says Arushi.
In February 2016, Panera Bread acquired 50.1% stake in Boston-based Tatte Bakery and Café. In January 2016, AdvancePierre acquired Landshire. AdvancePierre is a leading supplier of value-added, center-of-plate protein and sandwich products to foodservice, retail, and convenience channels. Landshire produces more than 80 frozen, fully cooked products and features a wide variety of sandwiches including patties, subs, wedges, breakfast offerings, and specialty items. Similarly, in December 2015, Togo's Eateries which operates about 251 restaurants in different states in the US, was acquired by Nimes Capital.
Increased marketing and advertising campaigns
Vendors use marketing and advertising campaigns to communicate about their products to customers. They also use these campaigns to reinforce their position in the market and to acquire new customers and retain existing ones. Effective marketing helps a company grow in the market, and it also helps in increasing sales, profits, and brand loyalty of consumers.
In December 2015, Subway launched a new advertisement campaign that focused on the chain’s 50-year history and its pioneering freshness. The ad also served as a tribute to the late Subway co-founder Fred DeLuca.
Browse Related Reports:
- Global Breakfast Cereal Market - Market Research Report 2015 - 2019
- Quick Service Restaurant Market in the US 2015-2019
- Global Bread and Rolls Market 2016-2020
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact firstname.lastname@example.org with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.