There is an increase in the consumption of frozen pizza across the globe due to variety of options and toppings available. New toppings are being introduced by various vendors to engage its consumers. The popularity of vegan frozen pizza is gaining demand due to shift of population to vegan lifestyle and dietary habits. To increase demand, some companies are engaging in handmade flatbread pizza.
The manufacturers in the business are coming up with new innovative and high quality methods to produce better pizzas that are convenient, better quality, and cost effective. They are also engaging in environment friendly processes and packaging to attract consumers. The concept of less sodium and non-preservative is also gaining prominence among the consumers. Advanced technologies used in supply, storage, and production of frozen pizza has also increased its demand. The manufacturing companies are prioritizing minimal food wastage and safety of food.
According to a report by Transparency Market Research, the global frozen pizza market is anticipated to grow at a CAGR of 6.5% by 2026. It is expected to rise the revenue valuation by US$25, 971.0 mn during the forecast period of 2017 to 2026.
Conagra brand, Inc., is introducing Healthy Choice in its extending Power Bowl line which is famous for providing healthy breakfast choices in different varieties. These morning power bowls provide healthy, quick, and nutrient dense addition to breakfast to consumers who are time starved as well as health conscious. These have varieties of exotic flavor combinations such as cauliflower curry, tahini, falafel, feta salad and white bean, and Mango Edamame. The brand is further providing vegan and vegetarian options to its consumers.
Thin crust pizza is the leading among all types of pizzas in demand. It is the top selling frozen pizza and is expected to reach US$12,400 mn revenue by 2026. This demand is due to softer base of the pizza which enhances the eating experience. Thin crust pizzas are less in calorie compared to the conventional pizzas.
Among all the toppings used in pizza, meat is the most preferred topping in frozen pizza toppings. Meat is expected to reach US$11,700 mn revenue by 2026 end. The demand for different types of toppings on pizzas will boost the growth of meat.
Cheese is the second most preferred topping in frozen pizza topping. It is consumed by majority of consumers.
Medium size of pizzas will be gaining more revenue share by 2017. It will increase the revenue valuation by US$6,800 mn during 2017 to 2026. This increase in demand is due to the size that can suffice two people thus, reducing wastage of food.
Food chain services will be the largest distribution channels in the frozen pizza market. The food chain service is expected to reach US$8,300 mn revenue by 2026. Consumers prefer buying frozen pizza from food chain store compared to all other channels because it has more options and variety to choose from. They also provide support service in case of complaint.
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North America is dominating the global demand for frozen pizza and is likely to remain in the lead till 2026. The presence of leading companies in this region has led to rise of this region. These companies are engaging in advanced methods and research to provide better service and products.
Asia pacific is also expected to rise in the coming years due to change in lifestyle and shift in convenient food options.
Some of the key players in the global frozen pizza market are Atkins Nutritionals, Inc., McCain Foods Ltd, California Pizza Kitchen, FRoSTA AG, and Nestle S.A.