Published on: December 05, 2019
Pizza is a dish prepared with a flattened bread dough as a base, which is typically baked along with a spread of vegetables, cheese, and toppings placed over the base. The global pizza market has been categorized as a part of the global packaged foods and meats market. The global packaged foods and meats market includes producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.
The global pizza market is expected to reach $221.6 billion by 2024, growing at a CAGR of 6.5%. Based on foodservice operators, chain operators dominate the global pizza market. North America is expected to dominate the global pizza market by region during the forecast period. However, the rapid expansion of internationally established players in emerging markets such as India will drive market growth in APAC during the forecast period. Trends such as the rising demand for vegan pizza offerings are expected to characterize market growth during the forecast period.
Many factors are expected to influence growth in the global pizza market during the forecast period. Our analysis identifies the following factors to be driving the growth of the global pizza market:
The demand for innovative, exotic-flavored pizza is prominent among consumers. Additionally, the customization of pizza based on calorie intake per day is gaining high prominence. The main impetus for customization is the growing importance of diet- whether it is a medical condition or nourishment confinement, a food allergy, or a weight-reduction plan. Customers prefer to have the option to customize their pizza according to their tastes.
Gluten-free food products are generally consumed by people with gluten-related disorders such as celiac disease and non-celiac gluten sensitivity. Consumers are increasingly opting for gluten-free food products owing to the rising consumer awareness about celiac disease. Factors such as an increase in the number of digestive health problems and weight management issues are aiding the popularity of gluten-free foods. Subsequently, these factors have aided the growth in demand for gluten-free pizza offerings.
Fast-casual pizza restaurants, which are a combination of quick-service restaurants and casual dining restaurants are gaining high popularity among consumers. These restaurants serve fresh, healthy pizza that is priced higher than pizza served in quick-service restaurants. Factors such as high customization and consumption convenience, and high pizza quality are expected to maintain the growth of fast-casual pizza.
Meanwhile, the vendors operating in the market face numerous challenges in increasing their sales and improving profitability. Some of those challenges are:
Frozen pizza needs to be stored at 0 degrees Fahrenheit for the desired quality and should be discarded if left at room temperature for more than 2 hours, as bacteria rapidly grow at a temperature between 40 degrees Fahrenheit and 140 degrees Fahrenheit. As frozen pizza is perishable, retailers and distributors require appropriate cold storage warehouse facilities. Challenges related to the warehousing of frozen pizza is expected to limit market growth during the forecast period.
The increasing instances of obesity and other lifestyle-related issues among consumers are discouraging consumers from consuming pizza. Obesity can lead to various diseases such as hypertension, diabetes, and joint problems. The possibility of obesity associated with pizza consumption is expected to hamper market growth during the forecast period.
The improper handling of raw materials or supplies can affect the safety and quality of pizza products. Government-aided and independent organizations mandate regulatory standards to be met by vendors to avoid contamination risks in pizza products. Failure to comply with these regulations typically result in warnings, product recalls, and hefty penalties to defaulters. Recent examples of product recalls include pizza topping brand Ezzo Sausage Co.’s recall of over 25,000 pounds of meat toppings following confirmation of listeria monocytogenes contamination.
The global pizza market can be segmented into the following:
The global pizza market is fragmented with the presence of limited international and regional players. We provide a detailed analysis of around 25 vendors operating in the global pizza market, including some of the prominent vendors such as Amy’s Kitchen, Domino’s Pizza Inc., Papa John’s International Inc., Yum! Brands Inc., and Orkla ASA. Investments in new facilities, and innovations to develop new mustard variants are among the strategies adopted by manufacturers in the global pizza market.
Backed with competitive intelligence and benchmarking, our global pizza market research report is designed to provide entry support, customer and M&A assessment, as well as go-to-market strategy support.
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