USD 12.5 billion
Report ID: SQSG30I2041 | Region: Global | Published Date: September, 2022 | Pages: 165
Global Sandwich Market was valued at USD 12.5 billion in 2021, and it is expected to attain a value of USD 15.8 billion by 2028 with a CAGR of 3.4% over the prediction period (2022 – 2028).
Because they contain egg protein, breakfast sandwiches are becoming more and more popular with customers. Additionally, consumers' preferences have been shifting toward organic ingredients as awareness of the harmful consequences of chemical-based food products has grown. As a result, producers are also putting a lot of effort into developing organic meat, veggies, and bread. Additionally, packaging has a significant impact on consumers' purchase decisions. All throughout the world, customers are choosing packaging that is environmentally friendly and sustainable. As a result, the demand for pre-packaged sandwiches is increasing.
In 2021, non-vegetarian products held a proportion of more than 70.0%, which was the greatest. Products that are not vegetarian are thought to be a good source of protein and important micronutrients including iron, zinc, and vitamins. Animal protein sources, such as bacon, sausage, chicken, and egg white, have significantly increased in popularity as sandwich filling during the past few years. The market for meat products has been pushed by the rapid urbanization of developing nations like China and Brazil, which has strengthened the infrastructure, especially the cold chain. Additionally, a variety of packaged foods made with poultry meat, bacon, eggs, and fish have grown significantly in favor among millennials who are looking for a nutritious ready-to-eat meal.
Global Market Size
USD 12.5 billion
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The global sandwiches market is segmented on the basis of product type, application and region. Based on the product type, the sandwiches market can be bifurcated into non-vegetarian and vegetarian segments. On the basis of application, the sandwiches market is segregated into Household and HoReCa segments. Based on region, the global Sandwiches market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by application
The HoReCa or food service segment, which accounted for 70.9% of the worldwide revenue, around 74.0% of American quick-service restaurants included sandwiches on their menus, according to the journal Prepared Foods. A sizable portion of customers in Europe and North America eat out frequently for all meals, including breakfast, lunch, and dinner. The application segment for pre-packaged food items like sandwiches is consequently being driven by this. A significant growth factor for pre-packaged food among households is anticipated to continue being the increasing penetration of e-commerce in the food business. In addition, given the rising consumer demand for pre-packaged meals, convenience stores, supermarkets, and hypermarkets have been stocking a variety of them. The demand for pre-packaged meals is anticipated to increase globally due to the hectic schedules of working adults.
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With 30.0% sales share worldwide, North America led the industry. American consumers view sandwiches as a necessary component of their diet. When consumers buy pre-packaged sandwiches, the presence of various elements, such as cheese, tastes, sauces, and bread, has a significant impact on their decision to buy.
Asia Pacific is predicted to experience the quickest CAGR of 9.3%. Demand for pre-packaged sandwiches in this region is increasing due to the rapid adoption of western eating habits in nations like China, South Korea, and Japan. The demand for pre-packaged sandwiches is also anticipated to increase in the near future due to the growing number of regional and local competitors in this industry. In nations like China, India, Malaysia, Singapore, South Korea, and Japan, the market growth for pre-packaged sandwiches has been boosted by rising awareness of the importance of eating a balanced diet and the availability of a wide variety of pre-packaged sandwiches.
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Marketing and advertising play a significant role in boosting the brand and luring clients in this cutthroat market with so many well-known vendors. In comparison to other small and regional vendors, large vendors have the advantage and financial resources to spend in large-scale campaigns. The global sandwich market will expand due to the increased advertising and marketing initiatives.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global Sandwiches market is segmented based on product, applications and regions. Additionally, vendors are using areas of public transportation, including subway stations, to advertise their goods. Marketing and advertising play a significant role in boosting the brand and luring clients in this cutthroat market with so many well-known vendors. In comparison to other small and regional vendors, large vendors have the advantage and financial resources to spend in large-scale campaigns. The global sandwich market will expand due to the increased advertising and marketing initiatives.
|Market size value in 2021||USD 12.5 billion|
|Market size value in 2028||USD 15.8 billion|
|Forecast period||2022 – 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Sandwiches Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sandwiches Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sandwiches Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sandwiches Market for additional countries.
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Product ID: SQSG30I2041