The frozen pizza market is projected to register a CAGR of 5.62% and reach a value of USD 18,424.4 million by 2028. Frozen pizza is referred to as the half-baked pizza prepared with yeasted flatbread dough, which is typically topped with various types of fruits, vegetables, and meat.
Frozen pizza is usually stored at a controlled temperature under 0 degrees to preserve it for later consumption. Frozen pizza has a longer shelf life, owing to its low-temperature condition and preservatives used for increasing the shelf-life. The global frozen pizza market has witnessed rapid growth over the last few years and is projected to expand at a CAGR of 5.62% during the forecast period. Increasing consumer preference toward convenience foods is anticipated to act as a major driver in the growth of the global frozen pizza market during the forecast period. Additionally, the growth of the organized retail sector is expected to positively influence the sales of frozen pizza at the global level. However, frozen pizza is not cost-efficient for consumers, which is anticipated to restrict the growth of the market. The development of the cold chain industry in emerging economies is expected to create a lucrative opportunity for the manufacturers of frozen pizza.
COVID-19 Impact Analysis
The rapid proliferation of the COVID-19 pandemic has resulted in a global crisis. Impacting over 195 countries, the pandemic has already created an economic downfall worldwide. The global pandemic is deemed to create a chaotic environment, resulting in a global recession. With the rapidly increasing number of cases, the global frozen pizza market is getting affected in many ways.
Some of the global players dominating the frozen pizza market with the wide product offerings and recent developments include Nestle S.A., Daiya Foods Inc., California Pizza Kitchen, Inc., Atkins Nutritionals, Inc., and Dr. Oetker GmbH, McCain Foods Ltd., and Connie’s Pizza.
The global frozen pizza market is broadly bifurcated based on crust type, size, toppings, and distribution channel.
The crust type segment is classified into stuffed, thin, pan, and others. The thin crust subsegment has a major share in terms of demand and consumption trends.
Based on toppings, the global frozen pizza market is segmented into cheese, meat fruits & vegetables, and others. The cheese toppings sub-segment of the global frozen pizza market is estimated to gain huge demand owing to new topping offerings and experiments.
Based on the size, the global market is divided into regular, medium, and large. Most of the consumers prefer regular size pizzas owing to their serving sufficiency and low chances of food wastage.
Moreover, the distribution channel segment is segmented into store-based and non-store-based. Store-based sub-segments majorly include retail outlets, convenience stores, departmental stores, and others.
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Among the key regions include Europe, North America, Asia Pacific, the Middle East, Africa, and the Rest of the World. North America dominates in the global frozen pizza market owing to the high demand for instant food products and busy schedules. The development of different toppings and efforts to enhance the taste through advanced preparation methods is expected to augment the market growth.
The Asia Pacific on the other side is expected to show exponential development in the ready-to-cook and ready-to-eat food sector owing to the growing craze of western culture, the working population, and budding local manufacturing companies.
Moreover, Europe is expected to grow steadily, owing to high disposable income and busy work schedules.
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