it’s not just about sandwiches…
In recent years rising health consciousness, a fast paced lifestyle and time-pressed consumers has driven demand for fresh and healthy fast food and beverage choices.
According to the 2015 IBISWorld Industry Sandwich Shops in Australia Report, growing public awareness regarding health and diet has provided a boost for the Sandwich Shops industry over the past five years. Along with strong industry growth, the range of products on offer has also increased.
It is no longer just about the average sub sandwich – in an effort to entice customers into shops, operators provide a range of different sandwich options, together with other foods and beverages.
Although sub sandwiches account for the largest share of industry revenue, the popularity of these sandwiches is predominantly driven by the success of franchise giant Subway and the increased popularity of foreign-cuisine sandwiches, with Vietnamese banh mi becoming particularly popular. As a result, this product segment has increased as a share of revenue over the past five years – the trend is expected to continue.
Wraps account for the third-largest share of industry revenue with this segment benefitting from increasing health consciousness among consumers. The smaller volume of wraps, when compared with other bread types, has contributed to the success of this segment, as many consumers are conscious of their carbohydrate consumption. Changing lifestyle trends have also supported this segment, as consumers are living a greater portion of their lives on the go. As a result, the convenience and portability of wraps has helped this segment to increase as a share of revenue over the past five years.
Over the next five years, the industry will be bolstered by continued strong demand for quick and healthy food options – industry revenue is forecast to grow by an annualised 1.6% in the five years through 2020-21, to reach $1.8 billion.
Modern times bring with it a strong drive toward healthy food alternatives with new products and players continually entering the market.
Indeed, the Australian fast food industry continues to grow at a strong rate so there has never been a better time to expand the Under Wraps success than now.