DUBLIN, March 19, 2024 /PRNewswire/ — The “Pizza Market Report by Type (Non-vegetarian Pizza, Vegetarian Pizza), Crust Type (Thick Crust, Thin Crust, Stuffed Crust), Distribution Channel (Quick Service Restaurants (QSR), Full-Service Restaurants (FSR), and Others), and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global pizza market size reached US$ 148.6 billion in 2023. The market is projected to reach US$ 222.5 billion by 2032, exhibiting a growth rate (CAGR) of 4.59% during 2023-2032.
The shifting consumer dietary patterns due to rapid westernization, the introduction of healthier product variants, such as low-calorie, vegan, and gluten-free pizzas, and the rising popularity of online pizza ordering through web portals and mobile apps are some of the major factors propelling the market.
The market is primarily driven by the increasing consumption of pizza across developing economies due to rapid westernization. In addition, continual technical advancements, such as customer preference tracking analytics, robotic automation, integrated third-party delivery systems and ghost kitchens are contributing to market growth. Besides this, various marketing campaigns and strategies adopted by the leading market players are also propelling the market growth.
Pizza has become deeply ingrained in North American culture and is considered a staple food. This cultural significance and long-standing presence have contributed to the dominance of North America in the pizza market. North America is home to several well-known and established pizza chains that have a significant market presence.
These chains, such as Pizza Hut, Domino’s Pizza, and Papa John’s, have a long history in the region and have built strong brand recognition and loyalty among consumers. Moreover, pizza chains in the region have been at the forefront of innovation and menu adaptation to cater to changing consumer preferences. They have introduced new pizza flavors, crust options, and toppings to meet evolving tastes and dietary demands.
In recent years, emerging markets in regions like Asia-Pacific, Europe, and Latin America are also experiencing significant growth in pizza consumption, indicating a potential shift in market dynamics in the future.
Furthermore, the increasing globalization and cultural integration have introduced a wide range of international cuisines and flavors to different parts of the world. Pizzas have become a popular choice as a global food, adapting to local tastes and incorporating regional ingredients, leading to the growth of diverse pizza options. Moreover, various pizza chains offering competitive prices, discounts, combo offers, and loyalty programs are also creating a favorable market outlook across the globe.
Competitive Landscape
The competitive landscape of the pizza market is dynamic and diverse, with numerous players competing for market share. Presently, the leading market players are offering healthier menu choices, using high-quality ingredients, and providing nutritional information to cater to health-conscious consumers.
They are also introducing vegan cheese alternatives, plant-based meat substitutes, and a wide range of vegetable toppings to accommodate the growing vegan customer base. Besides, various key players are offering competitive prices, discounts, combo offers, and loyalty programs tend to attract and retain customers. They are also investing in advertising, promotions, and social media engagement to create brand awareness, loyalty, and preference among consumers.
Pizza Market Trends/Drivers
Escalating demand for convenient food items
People are increasingly seeking convenient meal solutions due to hectic lifestyles and busy schedules. Moreover, the demand for ready-to-eat and frozen food items has grown as consumers look for quick and hassle-free meal options. Ready-to-eat pizzas, often sold in convenience stores or as prepackaged meals, require minimal preparation and can be consumed on the go, which is accelerating their demand. In addition, many convenience stores now offer freshly baked or heated pizza slices as a grab-and-go option.
These pizzas cater to consumers looking for a quick and convenient meal while they are on the move or need a snack during their shopping trips. Furthermore, individual-sized or personal-sized pizzas, pizza rolls, pizza pockets, and mini-pizzas have also gained popularity as convenient options that can be easily eaten while commuting, at lunch breaks, or during social events.
The introduction of healthier product variants
As consumers become more health-conscious, there is a growing demand for healthier food choices, including pizzas. Moreover, various pizza companies are catering to various dietary preferences. For example, the availability of gluten-free crusts caters to individuals with gluten intolerance or celiac disease.
Similarly, plant-based or vegan pizza taps into the growing demand for plant-based diets and attracts customers following those dietary choices. Besides, individuals are opting for pizzas made with organic and locally sourced ingredients. They prioritize sustainably and ethically produced food items. Pizza establishments that source organic produce, use locally sourced meats, and promote their environmentally-friendly practices attract consumers who value these factors in their dietary decisions.
The rising popularity of online pizza ordering
Online pizza ordering offers unparalleled convenience, as with just a few clicks or taps, customers can easily browse through menus, customize their orders, and place their pizza orders from the comfort of their homes or on the go. This convenience factor has led to a significant increase in pizza consumption as it eliminates the need for customers to visit physical locations or make phone calls to place orders.
Online pizza ordering platforms often integrate with third-party delivery services, enabling seamless and efficient delivery processes. Customers can track their orders in real-time, receive delivery notifications, and enjoy the convenience of doorstep delivery, which is positively influencing the market growth.
Key Questions Answered in This Report
- What was the size of the global pizza market in 2023?
- What is the expected growth rate of the global pizza market during 2024-2032?
- What are the key factors driving the global pizza market?
- What has been the impact of COVID-19 on the global pizza market?
- What is the breakup of the global pizza market based on the type?
- What is the breakup of the global pizza market based on the crust type?
- What is the breakup of the global pizza market based on distribution channel?
- What are the key regions in the global pizza market?
- Who are the key players/companies in the global pizza market?
Competition Analysis
- Boston Pizza
- California Pizza Kitchen Inc.
- CEC Entertainment LLC
- Chicago Pizza
- CICI ENTERPRISES LP
- Domino’s Pizza Inc.
- FAT Brands Inc
- Godfather’s Pizza
- MOD Super Fast Pizza LLC
- Papa Murphy’s International (Papa Murphy’s Holdings, Inc.)
- PepsiCo Inc.
- Pizza Capers (Retail Food Group Limited)
- Pizza Ranch
Pizza Industry Segmentation:
Breakup by Type:
- Non-vegetarian Pizza
- Vegetarian Pizza
Breakup by Crust Type:
- Thick Crust
- Thin Crust
- Stuffed Crust
Distribution Channel Insights:
- Quick Service Restaurants (QSR)
- Full-Service Restaurants (FSR)
- Others
- Pizzas are mostly distributed through quick service restaurants (QSR)
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/4jnctj
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