According to a new report published by Allied Market Research, titled, “Frozen Pizza Market," The frozen pizza market was valued at $17,362.80 million in 2020, and is estimated to reach $39.4 Billion by 2031, growing at a CAGR of 7.96% from 2022 to 2031.
Frozen pizza consists of a flat round base of dough baked with vegetable or meat toppings. Pizza is one of the most popular foods in Europe and North America and are sold fresh or frozen either whole or in portions across the globe. Freezing preserves the texture, taste, and nutritional value of pizza for a longer duration.
Rise in demand for convenience is the key factor that drives the frozen pizza market. Other factors such as increased disposable income, rise in standard of living, and rapid increase in number of large retail chains supplement the growth of the market. Moreover, increase in popularity of gluten-free frozen pizza further fuels the market growth. Consumers' assumption about the presence of high levels of sodium, fat, calories, and preservatives in frozen pizza has led to their lower sales in various developing countries. The addition of preservatives and other chemicals is perceived as a negative trait in the frozen pizza.
Major players, such as General Mills and Nestle, have enjoyed cost advantage amidst increasing cost of raw materials on account of operational excellence. As cost of raw materials would increase, players are expected to invest in R&D to develop advanced freezing technologies to reduce energy consumption and overall production cost, thereby increase in profit margins. For instance, the advancement of technology has led to the introduction of the quickest freezing technology such as impingement freezing, hydro-fluidization freezing, high-pressure assisted freezing, magnetic resonance-assisted freezing, and others. Freezing pizza with the help of liquid nitrogen also provides a major opportunity to the frozen pizza manufacturers, thus driving the market growth.
According to the global frozen pizza market analysis, the market is divided by crust type, toppings, distribution channel, and region. Based on crust type, the market is divided as regular thin crust, extra thin crust, deep-dish, and others. By topping, it is classified as meat topping and vegetable topping. By distribution channel, it can be classified into food chain services and retail. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Further, the report also covers the strategies adopted by key market players in order to sustain competitive environment and increase their market share.
In 2016, the regular thin crust segment accounted for the highest market share in the global Frozen Pizza Market Size. Frozen pizzas are trending toward thin crusts, owing to its reduced calories and health association they offer as compared to the other stuffed and deep-dish frozen pizzas. Thus, growth in health consciousness among the consumers is anticipated to drive the regular thin crust frozen pizzas market.
Based on toppings, meat topping segment held the major share in the market. Consumer perception about sausage, pepperoni, bacon, and chicken breast as a rich source of protein has led to its higher consumption which has led to the growth of the market.
Based on distribution channel, Retail channel gain a major Frozen Pizza Market Share. Retail consumers of frozen pizza include individuals and households. The busy lifestyle of the working population and change in eating habits of consumer has increased the demand for market ready-to-eat frozen pizza.
The key players operating in the Frozen Pizza Industry include Nestle S.A., Hansen Foods, LLC (Private Label), Schwan Food Co., Dr. Oetker, General Mills, Inc., Freiberger Lebensmittel GmbH & Co. KG., Conagra Brands Inc., Daiya Foods Inc., Amy's Kitchen, Inc., and Palermo Villa, Inc.
Key Findings of the Study
- Regular thin crust held the major share in the market accounting near 61.8% of the total frozen pizza market.
- Meat topping segment held the major share in the market and is likely to remain dominant throughout the Frozen Pizza Market forecast period.
- Food Chain Services channel witness a major growth rate in the market.
- The North America region account around half of the total share in 2020.
- The report provides a quantitative analysis of the Frozen Pizza Market Trends, estimations, and dynamics of the seeds market size from 2020 to 2030 to identify the prevailing Frozen Pizza Market Growth.