Wilmington, Delaware, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Frozen Pizza Market by Crust Type (Regular Thin Crust, Extra Thin, Crust Deep-Dish, Others), by Topping (Meat Topping, Vegetable Topping), by Distribution Channel (Food Chain Services, Retail): Global Opportunity Analysis and Industry Forecast, 2020-2031".
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The report indicates that the global market for frozen pizza is estimated to garner $39.3 billion by 2031, having experienced a value of $17.3 billion in 2020, with a noteworthy CAGR of 7.96% during the forecast period of 2022 to 2031.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2022 |
| Market Size in 2021 | $17,362.80 million |
| Market Size in 2031 | $39,373.20 million |
| CAGR | 7.96% |
| No. of Pages in Report | 215 |
| Segments Covered | Type, Topping, Distribution Channel And Region |
| Drivers |
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| Restraints |
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| Opportunities |
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Factors influencing the growth of the global frozen pizza market:
The global frozen pizza market is expanding rapidly due to factors such as the increase in number of huge retail chains, health consciousness in consumers, surge in living standards, and growth in disposable income. However, leading market players are investing in R&D activities to invent the latest freezing techniques, which will provide ample growth opportunities in the future.
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The regular thin crust segment to retain its dominance by 2031
In terms of crust type, the regular thin crust segment generated the major share of more than three-fifths of the total market revenue in 2020 and is expected to retain its dominance by 2031. Also, the same segment would manifest the fastest growth with 8.0% CAGR throughout the forecast timeframe. The growth is attributed to its low-calorie proportion as compared to other deep-dish and duffed frozen pizzas.
The retail segment to grab the lion’s share in 2031
In terms of distribution channel, the retail segment held the largest share in 2020 accounting for 89% of the global frozen pizza market and is expected to lead the trail from 2022 to 2031. The same segment is estimated to showcase the fastest growth with 7.9% CAGR throughout the forecast timeframe. The market for ready-to-eat pizza is driven by changes in the eating habits of customers and the hectic schedule of the working population.
North America to continue its supremacy during the forecast period
The regional analysis in the report states that the market across North America gained huge market revenue in 2020 contributing to more than two-fifths of the global frozen pizza market. Change in consumption pattern is driving the growth of the market across the region. Asia-Pacific, on the other hand, is expected to showcase the fastest growth with 8.5% CAGR throughout the forecast timeframe, because China is one of the leading consumers of frozen pizza.
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Top market players:
- Schwan's Shared Services, LLC.
- Dr. August Oetker KG
- Daiya Foods Inc.
- ConAgra Brands, Inc.
- Amy's Kitchen, Inc.
- Palermo Villa, Inc.
- Nestle S.A.
- Hansen Foods, LLC
- General Mills, Inc.
- Freiberger Lebensmittel GmbH
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