New York, US, May 23, 2023 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) 's report highlights “Pizza Market Information By Product Type, Distribution Channel, And Region - Forecast till 2032"; the market will achieve USD 265.12 billion at an 3.98% CAGR by 2032.
Pizza Market Overview:
A round, wheat-based dough base is spread with a flavorful topping that includes cheese, meat, veggies, and various seasonings to create the flavorful Italian pizza dish. It is typically baked quickly in an oven made from wood at a high temperature and served immediately. It involves shaping a pie, adding pizza sauce derived from spice-seasoned tomato purée, topping it with fruits and vegetables, and baking the dough made from fermented flour and yeast. In the upcoming years, a trend in the pizza market that is expected to be favorable is the rising acceptance of food purchases made through websites and mobile apps. Because orders are not lost due to busy phone lines, e-commerce sites are even more helpful for takeaway eateries during peak ordering times.
Access to consumer feedback from websites and a boost in the value of orders are additional benefits of these alliances. The young generation and those from the working class are the main drivers of the market, with their evolving lifestyles and food preferences. Additionally, these frozen goods provide convenience and longer shelf life, which are anticipated to support market expansion over the forecast time frame.
Over the past few decades, pizza has become incredibly popular and a global culinary icon. People of any ethnic background enjoy it because it is chewy and crunchy with a topping of marinara and cheese that is loved worldwide. Even though diners have a great deal of respect for the food, the recipe is still difficult. Due to the absence of communication errors, online purchases are more effective than telephone orders. Because of the appealing digital menus, consumers prefer placing online orders over phone orders and tend to spend more money doing so. By offering direct delivery of meals or options for takeout, many restaurants use mobile app-based food ordering to grow their clientele. In 2022, online portals overtook other channels as the most common food ordering method. Moreover, due to the simplicity offered by this channel, such as the ability to order food whenever and wherever, mobile ordering also gained popularity, particularly among millennials.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 265.12 Billion |
| CAGR | 43.68% (2023 to 2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand for convenience food |
Market Competitive Landscape:
The favored contenders in the pizza market are:
- Papa John's International, Inc.,
- Doctor's Associates,
- Domino's Pizza, Inc.,
- Pizza Hut,
- Little Caesar Enterprises, Inc.,
- Yum! Brands, Inc.
Market U.S.P. Covered:
Market Drivers:
The rising pizza consumption in developing nations is one of the major factors propelling the expansion of the pizza markets. Today's consumers want pizzas that are infused with distinct, modern flavors. Millennials have a greater appetite for pizzas with unique and exotic flavors. Additionally, they are searching for options to alter their pizzas according to how many calories they consume daily. Pizza manufacturers offer nutrition calculators to personalize their pizza according to the number of calories and nutrients. The crust type, garnishes, sauce, and crust size can all be changed by customers to suit their preferences. The nutrition calculator shows your daily caloric and sodium intake and total fat, protein, and carbohydrate intake. Customers favor personalizing their pizzas to suit their tastes.
Market Restraints:
The pizza market will face significant challenges during the forecast period due to fluctuating food commodity prices. The cost of these basic components has significantly increased in recent years due to the growing disparity between supply and demand. Any increase in the cost of raw materials drives up manufacturing costs and lowers vendor profit margins. Manufacturers frequently experiment with less expensive alternatives to remain on par in the market. Additionally, raw material suppliers can set competitive and distinct prices for their goods.
Browse In-depth Market Research Report on Pizza Market:
https://www.marketresearchfuture.com/reports/pizza-market-11547
COVID 19 Analysis:
Despite the unfavorable circumstances, the pandemic did have some positive outcomes. Some relief has been given by the creation of vaccinations and the approval of those vaccines in some nations. Following the pandemic, the world's pizza market is anticipated to experience a V-shaped recovery. Due to rising raw material prices, it has become difficult for market sellers to introduce fresh varieties with unique or special ingredients that enhance the flavor of their doughnuts and draw in more customers. This is because increasing product prices have an impact on consumers' purchasing decisions, which in turn has an impact on sales volumes and market expansion. These elements will hurt the economy during the anticipated time frame.
Market Segmentation:
By distribution channel, the market includes supermarkets & hypermarkets, pizza outlets, and online. By product type, the market includes Neapolitan, New York, Chicago, Sicilian, and deep dish.
Regional Insights:
With a sizable market share, North America was the region with the biggest market for pizza. Due to their longer shelf lives and their love of pizza, the United States and Canada are the two countries that consume the most pizza and products made from it. The greatest CAGR growth is anticipated in Asia-Pacific. Pizza is becoming increasingly popular in developing nations like India, Bangladesh, China, and the Philippines, and as a result, the market is expected to grow rapidly in this area over the coming years.
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