Global Frozen Pizza Market Worth $34.98 Billion in 2032.
The Global Frozen Pizza Market was worth USD 21.78 billion in 2021. Between 2022-2032, it is predicted to grow at a rate of 4.4%.
Frozen Pizza Market Demand:
The forecast time frame will witness a significant increase in consumer preference for convenience food which is a key driver of worldwide sales of frozen pizza. The global expansion of organized retail is anticipated to positively impact frozen pizza sales. Frozen pizza can be expensive and hinder the market growth. Manufacturers of frozen pizza are in a position to benefit from the expansion of cold chains in developing economies.
In the midst of consumers stocking up on comfort food items to help get through the pandemic, the pizza industry is looking to hire staff in order to meet the demand. According to the American Bakers Association (ABA), the North American pizza industry has increased its workforce to satisfy the demand for frozen and fresh pizza. The greatest problem is still the logistics. The restrictions on vehicle movement have been increasing because of the rising number of COVID-19-related ailments. This results in a shortage of demand and leaves many retail outlets empty in many European as well as American countries.
Driving Factors:
Food that is convenient to eat is in high demand.
The changing of lifestyles, the changing dietary patterns, and the availability of convenience food items are all significant in shaping consumers' food choices. Convenience foods are a rising trend that originated in the west but quickly moved to other parts. Convenience food items are favored by consumers because they are convenient, easy to eat, and offer nutritional value, variety and appeal. People are less likely to prepare and cook meals at the home due to changing lifestyles.
They view it as a time-consuming, energy-consuming task. Consumers want to be able to maximize their time and do what they love. This is why convenience food is becoming more commonplace. The rising disposable income will also drive up demand for frozen pizza. Because they are simple to prepare, frozen consumables can be considered as convenient. Frozen pizza is easy to prepare by heating it in an oven or microwave. At the time of review, there will be an increasing need for convenience foods which will fuel growth in the worldwide frozen pizza market.
Frozen Pizza Market Restraints Factors:
Costs of High Production
The cost of Frozen Pizza Market is higher than a fresh pizza. The pizza makers who make frozen pizzas are charging higher prices than fresh pizzas due to the higher cost of manufacturing and storage. Pizza isn't the only product available on the market. Foods that are fresh and convenient are readily available to customers and are healthier than a pizza. Producers may be involved in price wars and set prices based on their tastes.
Frozen Pizza Market Trends:
The rise of digitalization in the retail industry is an important trend that will impact the Indian frozen pizza market. The retail food sector has witnessed an increase in digitization, which has been one of the major factors driving frozen pizza. The trend towards digitalization is expected to continue to increase in speed in the future. Because of its convenience and accessibility, the convenience of online shopping is now a popular choice for consumers. Consumers can also choose and buy frozen pizzas with the help of innovative, intelligent apps. Online ordering and purchasing food products will be a major driver of the frozen pizza market in India.
Recent Developments:
Dr. Oetker GmbH introduced the first UK-based vegan Ristorante frozen pizza in June 2021. Ristorante Margherita Pomodori pizza comes with a crispy crust and an alternative to cheese that is vegan.
California Pizza Kitchen announces plans to expand its Canadian operations by partnering with franchisees located in Vancouver, BC, and Toronto, Ontario. The expansion will improve the overall operation and capacity.
Market Key Participants:
Bellisio Foods Inc. and Nestle S.A. are the major vendors of the Frozen Pizza Market.
Frozen Pizza Market Segmentation:
Market.US has divided the market for frozen pizza by geography (North America, Europe, APAC and South America) as well as the Middle East, Africa, and Asia. There are three types of markets: small, medium, and large. A further division was created through the distribution channel, which includes HoReCa, food chain services, offline, and online.
Frequently asked questions:
How big is the frozen pizza market?
The Frozen Pizza Market was valued at USD 21.78 Billion in 2021. It is projected to grow to $ 34.98 Billion by 2032.
What is Frozen Pizza Market?
The Frozen Pizza Market is expected to grow by a compound annual rate of 4.4 percent from 2021 to 2032, averaging $34.98 Billion in 2032.
Which market segment had the biggest share of the Frozen Pizza Market?
North America was the market leader in frozen pizza in 2019, having the largest share of 37.5% share. This is because of the growing demand for frozen pizzas with a long shelf-life in Canada and the U.S.
What are the factors that drive the Frozen Pizza Market?
The main factors that drive the market growth include an increase in demand for RTE food items and new products that are launched.
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