The global frozen pizza market was valued $12.20 billion in 2017, and is expected to reach $20.80 billion by 2026, at a CAGR of 6.59 % during a forecast period, according to a market research report released by Trends Market Research, London.
Consumers’ busy lifestyles, change in eating traditions, increased disposable income, an upsurge in a standard of living and a rapid surge in a number of retail chains are boosting the growth in the global frozen pizza market. Furthermore, growing penetration of social media and food sites are creating awareness about eating food trends, which is encouraging growth in the global frozen pizza market.
However, frozen pizza is perceived to be less nutritious and consist of a high quantity of sodium and preservatives, thus limiting market growth. Poor freezing facilities in semi-urban and rural areas also restrain growth.
On the other hand, increasing advancement in freezing technology and an upsurge in fast food outlets in emergent economies are likely to provide worthwhile opportunities for the market key players in the global frozen pizza market.
Regular thin crust frozen pizzas are expected to hold significant growth in the frozen pizza market. This growth can be attributed to its compact calories and health association over overstuffed and deep-dish frozen pizzas. Furthermore, the availability of a wide variety of these pizzas in supermarkets, hypermarkets and online retail are propelling growth in the frozen pizza market.
The increased demand for convenience food is estimated to fuel growth of frozen pizza in North America. Furthermore, the Asia Pacific region is slowly growing despite cultural barriers and less acceptance of frozen foods over fresh foods. However, foreign direct investment in emerging economies, such as China, India and Brazil is improving participation from some of the foreign and private key players.