Frozen Pizza Market Worth to Hit $30Bn Globally by 2030 – Exclusive Report by The Insight Partners
The global frozen pizza market size is growing at a CAGR of 6.5% during 2022-2030.
Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) — According to our latest study on “Frozen Pizza Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Category, Distribution Channel, and Geography,” the frozen pizza market is expected to grow from $18 billion in 2022 to $30 billion by 2030; it is estimated to grow at a CAGR of 6.5% from 2022 to 2030. The report highlights key factors influencing the market and prominent players along with their developments in the market.
Frozen pizza is a ready-to-eat pizza product that is pre-prepared, assembled, and then flash-frozen to preserve its freshness. It typically has a prebaked crust, sauce, cheese, and toppings. The demand for frozen pizza has surged during the forecast period owing to its convenience, longer shelf life, and changing consumer preferences. Increasing demand for convenience food products and surging prefoliation of online platforms attributed to the market growth. In addition, strategic initiatives made by key players, such as product launches, collaboration, and mergers, contribute to market growth.
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The consumption of convenience food is increasing among the working population and teenagers. Convenience food, such as ready-to-eat products, saves consumers’ time and efforts associated with ingredient meal preparation, shopping, and cooking. Further, the inclination toward convenience foods such as packaged products, including frozen pizza, has upsurged owing to busy lifestyles, increasing demand for on-the-go food products, and rapid urbanization. The increasing demand for protein-rich food and changes in food habits and meal patterns further boost the demand for convenience food. According to the US Department of Agriculture, consumer demand for convenience food has increased, becoming the American staple. Frozen pizza manufacturers are taking several strategic initiatives such as new product launches, production capacity scaleup, mergers and acquisitions, and collaborations to satisfy growing demands by customers and enhance their market position.
Key manufacturers are adopting strategic initiatives such as product development, mergers and acquisitions, collaborations, and partnerships to cater growing demand for frozen pizza. For instance, in 2023, Goeld (part of Shri Bajraj Alliance Ltd, a listed company) announced the launch of new frozen food products available exclusively at reliance retail across India. The new product range includes Pizza Pockets, Panner Pakoda, and Idli. The launch was aimed to cater to the growing demand for frozen food in the country. Additionally, in 2022, HyFun Foods announced the range of frozen pizza, which included four variants – Classic Margherita, Veggie Paradise, Garden Fresh and Tandoori Paneer in Indian market to cater growing demand for frozen pizza. Further, the food and beverage industry players are launching new frozen pizza lines to cater to the growing consumer demand. For instance, in 2022, Midwestern franchise Imo’s Pizza announced the launch of a frozen pizza line across the US. The launch was aimed to cater to the growing consumer demand for frozen pizza.
However, frozen pizza contamination can occur for various reasons, such as issues in the production process, improper storage, or harmful substances in the products. Government agencies and food safety associations, such as the Canadian Food Inspection Agency and the US Department of Agriculture’s Food Safety and Inspection Service (FSIS), closely monitor product labeling and branding. The products are also contaminated with bacteria either during the manufacturing process or during the handling of products. In September 2023, Green Valley Foods announced the recall of around 4,062 pounds of frozen meat pizza products due to misbranding. Such product recalls may hamper the growth of the frozen pizza market.
Palermo Villa, Inc; Newman’s Own, Inc; Nestlé S.A.; DAIYA FOODS INC; Dr. Oetker GmbH; General Mills; Amy’s Kitchen, Inc; Home Run Inn Pizza; Bellisio Foods, Inc; and DELLA ROSA are among the prominent players operating in the global frozen pizza market. These market players are adopting strategic development initiatives to expand, further driving the market growth. For instance, in July 2021, Feel Good Foods, announced the plan to enter the pizza category with the launch of a new Detroit-style Pan Pizza. This new gluten-free Detroit-style Pan Pizza will be available in three varieties including Four Cheese, Margherita, and Truffle Mushroom. The launch was aimed to cater the growing demand for healthy food options.
Impact of COVID-19 Pandemic on Frozen Pizza Market
The COVID-19 pandemic affected industries in various countries, influencing their economic conditions. Lockdowns, business shutdowns, and travel bans in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including the food & beverages industries. The shutdown of manufacturing units disturbed global manufacturing activities, supply chains, delivery schedules, and sales of various essential and non-essential products. In 2020, various companies announced possible delays in product deliveries and a fall in future sales of their products. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. Additionally, lockdowns and disruption in the supply chain initially caused sourcing ingredients and packaging challenges. All these factors hampered the food & beverages industry in 2020 and early 2021, thereby hindering the growth of various markets related to this industry, including the global frozen pizza market.
Many industries faced challenges due to the COVID-19 outbreak in 2020. The food & beverage industry declined due to the shutdown of manufacturing units and supply chain disruption. The pandemic disturbed the manufacturing processes with restrictions imposed by government authorities in various countries. During the initial phase of the pandemic, almost all countries proposed lockdowns in their respective economies, where people were restricted from going outside their houses. However, stay-at-home orders and restaurant closures led to a surge in demand for convenient at-home meal options, including frozen pizza. Manufacturers’ initiatives to increase production by implementing safety measures for workers, coupled with the increasing popularity of online grocery and food shopping services, propelled the growth of the frozen pizza market.
Additionally, surging health-conscious consumers sought healthier frozen pizza options, leading to the development of more nutritious varieties. For instance, in October 2021, Banza announced the launch of the first-ever frozen pizza made from chickpea crusts. The launch was aimed to cater to the growing demand for nutritious food in America.
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Based on type, the frozen pizza market is segmented into thin crust, pan crust, stuffed crust, and others. Based on the category, the market is segmented into gluten-free and conventional. Based on the distribution channel, the frozen pizza market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The frozen pizza market in North America is further segmented into the US, Canada, and Mexico. The Europe frozen pizza market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The frozen pizza market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, the UAE, Saudi Arabia, and the Rest of MEA. The frozen pizza market in South & Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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