As per a study by Future Market Insights (FMI), the global frozen pizza market is estimated to reach a valuation of US$ 18.32 billion by the end of 2021. The demand outlook for frozen pizza remains positive with FMI projecting its sales to total US$ 32.89 billion by 2031.
Changing lifestyle, increasing working population, and shifting food preferences among millennials will create conducive environment for the expansion of the market.
Between 2016 and 2020, the frozen pizza sales rose steadily at a CAGR of 4.8%. While supply chain disruptions amid COVID-19 continued creating obstacles to growth, sales of frozen pizza accelerated. More number of people staying indoor created an attractive market for frozen pizza, especially as the food service sector remained shuttered during extensive period of partial or complete lockdown in 2020.
This, coupled with the advent of online retailing, increasing disposable income, improvements in frozen food storage & transport technology, and shift towards western-diet are the factors anticipated to spur the growth at a CAGR of 6% during the forecast period 2021 to 2031.
According to FMI, store-based retailing is projected to dominate the sales channel segment, exhibiting expansion at a CAGR of 5.6% over the assessment period. Being the most preferred sales channel, the segment is anticipated to accounting for a market share of over 66.3% by the end of 2021.
“Steered by consistently rising demand for high-quality food products, leading market players are aiming at receiving certificates and claims such as kosher, organic, halal, GMP, and FSSC 22000 among others to build the consumer trust in the brand and to bolster their revenue streams,” says a FMI analyst.
Key Takeaways from Frozen Pizza Market Survey
- The U.S. is dominating the frozen pizza market in North America, accounting for a market share of over 79.3% in the region through 2031
- In Europe, Italy is leading the market, holding a market share of nearly 16%, favored by the rise in consumption of pizza as a staple food.
- Owing to change in consumer cuisine preferences, Brazil is estimated to account for over 32% of the Latin America market by 2021.
- India is projected to hold a dominant share of above 26.6% in the South Asia market, growing at a CAGR of 9% over the forecast period.
- Based on the crust type, thin-crust frozen pizza is dominating the segment, accounting for a global market share of more than 63.3% in 2021.
- Changing food preferences among the world population is fueling the demand for frozen pizza.
- Growing demand for western-style diets is expected to drive the growth of the market.
- Increasing working population across the globe is creating sales opportunities for frozen pizza.
- Rising demand for ready-to-eat and frozen food amid lockdown is spurring the sales of frozen pizza.
- Increasing cost of raw materials is hampering the growth of the frozen pizza market.
- Preference for freshly prepared pizzas is a factor negatively affecting the sales of frozen pizza.
- Lack of infrastructure required for frozen food storage and transportation in developing and underdeveloped economies is impeding market growth.
Companies operating in the frozen pizza market for focusing on developing new flavor and creating products with longer shelf live to increase enhance their product portfolio and increase their market share. Besides this, some of the market players are expanding their manufacturing facilities to explore untapped markets in emerging economies. For instance,
- Ole & Lena’s Pizzeria, an America-based restaurant chain, announced its expansion plans, by including wholesaling operations of frozen pizza to leading retailers such as Walmart for select locations in the U.S.
- In June 2021, Brazi Bites, a company based in Brazil, launched its new product line named, Pizza’nadas, a fusion of empanadas and frozen pizzas, for sales to consumers in the U.S.
Some of the key players operating in the frozen pizzas market profiled by FMI are:
- Frozen Specialties Inc.
- Jubilant Foodworks Limited
- Convenio Foods Pvt. Ltd
- Giovanni’s Frozen Pizza
- Monte Pizza Crust B.V
- General Mills Inc
- Nestle S.A.
- McCain Foods Ltd
- Dr. Oetker GmbH
- Daiya Foods Inc.
- Connies Pizza
- Conagra Brands, Inc.
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More Insights on the Frozen Pizzas Market:
FMI provides an unbiased analysis of the frozen pizzas market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global frozen pizzas market with a detailed segmentation on the basis of:
By crust type, frozen pizza market is segmented as:
- Thin Crust
- Thick Crust
- Stuffed Crust
By toppings, frozen pizza market is segmented as:
- Fruits and Vegetables
By sales channel, frozen pizza market is segmented as:
- Store based Retailing
- Convenience Stores
- Forecourt Retailers
- Food Specialist
- Online Retail
By size type, frozen pizza market is segmented as:
By region, frozen pizza market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa (MEA)
Key Questions Covered in the Report
- The report offers insight into fiber frozen pizzas market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for frozen pizzas market between 2021 and 2031
- Frozen pizzas market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Frozen pizzas market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others