According to Future Market Insights, the frozen pizza market size is forecast to reach US$ 18.32 Bn in 2021. The frozen pizza demand outlook is expected to remain positive with the market value projected to reach US$ 32.89 Bn by 2031 at a CAGR of 6.0% during 2021-31.
Frozen pizzas are prepared with a wide range of toppings including vegetables and meat covering both health and taste requirements. They are commonly sold as ready to cook food products.
The rising working population and craving for instant snacks are driving the frozen pizza market. Frozen pizza is sold via store-based retailing including convenience stores, discounters, forecourt retailers, hypermarkets, supermarkets, food specialist and online retail platforms.
Additionally, consumers desire food items that are easier to transport while having a longer shelf life. Fast-paced lifestyles have influenced consumers to seek ready-to-eat foods. Consumers are willing to pay a premium price for products obtained from organic and authentic sources. Producers of frozen pizza are consequently pushed to provide detailed information through labels.
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Consumers are hesitant to buy frozen products owing to concerns over processed ingredients. By providing accurate information about the additives used in FDA-approved frozen foods, manufacturers can gain consumer confidence and long-term brand loyalty.
Key Takeaways from the Frozen Pizza Market Study:
- The U.S. is a leader in the frozen pizza market, accounting for 80.9% of the North America market in 2021, supported by favourable consumer purchase patterns.
- Italy holds the lead in the Europe market with a share of nearly 16%, owing to growing consumption as a staple food.
- Brazil accounts for over 32% of the Latin America market in 2021, aided by favorable changes in consumer cuisine preferences.
- Thin crust pizza accounts for a market share of 63.3% in 2021, owing to the preference for low-calorie products.
- Meat toppings are anticipated to witness lucrative growth with a CAGR of 6.8%, supported by a relatively large meat-eating consumer base.
Who is winning?
Frozen pizza manufacturers are working on development of offerings that mimic freshly prepared pizza with lower calorie and fat content. In addition, manufacturers are focused on R&D to meet consumer demands in established and emerging markets.
While focusing on online retailing amid the pandemic, consumers are choosing from a wide range of products. Producers are promoting internet commerce to expand distribution in previously untapped markets.
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Some of the leading companies offering frozen pizza include Frozen Specialties Inc., Nestle S.A., Jubilant Foodworks Limited, Oetker GmbH, Convenio, Foods Pvt. Ltd, Daiya Foods Inc., Giovanni’s frozen pizza, Monte Pizza Crust B.V, General Mills Inc, McCain Foods Ltd, Dr., Connies Pizza, Conagra Brands, Inc. and others.
Frozen Pizza Market by Category
By crust type, frozen pizza market is segmented as:
- Thin Crust
- Thick Crust
- Stuffed Crust
By toppings, frozen pizza market is segmented as:
- Cheese
- Meat
- Fruits and Vegetables
- Others
By sales channel, frozen pizza market is segmented as:
- Store based Retailing
- Convenience Stores
- Discounters
- Forecourt Retailers
- Hypermarkets
- Supermarkets
- Food Specialist
- Online Retail
By size type, frozen pizza market is segmented as:
- Small
- Medium
- Large
By region, frozen pizza market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
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Key Questions Answered in the Report
- What is the current valuation of the frozen pizza market?
The frozen pizza market is projected to surpass a valuation of US$ 18.3 Bn by 2021 end.
- At what rate did the frozen pizza market expand in the last 5 years?
The frozen pizza market exhibited steady growth at a CAGR of 4.8% in the last five years from 2016 to 2020.
- What is the frozen pizza market demand outlook?
The frozen pizza market is expected to register steady growth amid the COVID-19 pandemic in 2020. The market will register a CAGR of 6% between 2021 and 2031.
- What are the key trends prevailing in the frozen pizza market?
Leading frozen pizza manufacturers are focusing on product launches and flavor options. Also, there is a growing focus on nutrition and health including low fat and low-calorie options in the country.
- What are the key factors driving the sales of frozen pizzas?
Increasing demand for frozen convenience foods, improvements in recipes and frozen food storage and transport technology improvements are factors boosting frozen pizza sales.
Explore FMI’s Other Extensive Reports of Food & Beverage:
Pizza Crust Mix Market Share : Based on the report, sales of pizza crust mix will increase at a CAGR of 5.50% to reach an evaluation of US$ 2,132.3 million by 2032.
Frozen Desserts Market Size : The global frozen desserts market is expected to reach a valuation of US$ 100.1 Bn by the end of 2022, growing at a CAGR of 5.8% by 2022-2032
Frozen Vegetables Market Growth : The global frozen vegetables market is estimated to be valued at US$ 32.4 Bn in 2022 and is projected to reach US$ 55.8 Bn by 2032.
Frozen Yogurt Market Value : The global frozen yogurt market is expected to reach a market valuation of USD 2.1 Bn by the year 2022, accelerating with a CAGR of 3.7% by 2022-2032.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post North America Dominates the Frozen Pizza Market & Anticipated to Account for Over 79.3% of the Market in 2031 appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.