iCrowd Newswire – Oct 22, 2020
Frozen Pizza Market was $2,976.86 m in 2019, growing at a CAGR of 6.50% during the forecast period 2020-2025. Frozen Pizza is half-baked pizza prepared by yeasted flatbread dough with toppings that could be stored for longer time compared to conventional pizzas. Rising disposable income, urbanization and the demand for western style diets are supporting the market growth. Increasing inclination towards high quality ingredients that meets the demand for innovation in the “free from” and for food “on the go” is poised to further propel the industry growth. Moreover, they can be stored for longer duration than the traditional ones. In addition, numerous benefits are offered by these products such as ease of availability, longer storage duration and reasonable price is driving the market for Frozen Pizza during the forecast period 2020-2025. With a larger section of the employed population, the demand for convenience foods is higher which is likely to boost the revenue from Frozen Pizza market in the coming years.
By Crust Type- Segment Analysis
By Crust Type, the frozen pizza market is segmented into regular thin crust, extra thin crust and deep dish. Among these, the regular thin crust type accounted for the largest market share in 2019 owing to reduced calories and health benefits they offer as compared to the other stuffed and deep-dish frozen pizzas. Moreover, the growing health consciousness among consumers and the presence of specific nutrients as well as the rising demand of gluten-free pizza is anticipated to drive the frozen pizza market. In addition, it is healthy as it contains vitamins and minerals providing further boost to this segment. Moreover, extra-thin crust pizza is a good source of phosphorous and selenium with 22 and 23 percent DV, respectively. Phosphorous is important for bones and energy production. Selenium is an antioxidant that helps with thyroid and immune function. In addition, pizza also contains 10 percent DV of manganese, 9 percent of zinc and 19 percent DV of calcium. Calcium is important for nerve transmission, blood pressure regulation and muscle function. Thus, these are the key benefits driving the frozen pizza market during the forecast period 2020-2025.
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By Topping- Segment Analysis
By topping type, the market is segmented into meat and vegetable. Meat Toppings is one of the fastest growing segments of frozen pizza market holding the CAGR of 6.3% from 2020-2025, by the virtue of growing trend towards ready-to-eat frozen items. Moreover, availability of large varieties for meat topping pizza is providing significant growth opportunities to the market. Furthermore, chicken is a lean and versatile meat that is adapted to many artisanal pizza styles. Apart from that, the barbeque chicken pizza is probably the most famous use of chicken on pizza has gained a lot of popularity in the U.S. restaurant chains and now is being used globally. Prolonged self-life offers benefits such as ease of availability whenever required and secure stocks during seasonal variations is another key reason supporting market growth. Furthermore, the growth is driven by the rising demand of convenience food products to save both customers time and effort, given their hectic schedules. Owing to these benefits there is an upsurge in the demands of these products and the market and is estimated to witness significant growth during the forecast period 2020-2025.
Geography- Segment Analysis
North America dominated the Frozen Pizza Market with a share of 33.60% in 2019 and is estimated to grow at a CAGR of 6.8% during the forecast period 2020-2025. Technological advancement along with the rising innovation in product developments like low trans-fat, low fat, whole wheat, multigrain, and low-on-artificial-preservatives products, the frozen food industry is likely to grow in the coming years .According to Technomic, around 43% of Americans eat pizza at least once a week. U.S. has more than 95,000 pizza outlets across the country, with new frozen varieties at grocery stores and prepared offerings in c-stores, consumers have plenty of pizza choices, thus contributing to its market growth. Furthermore, product launches in the country such as Urban Pie Pizza Co introducing a first of its kind pizza with hemp seeds with a frozen pizza aisle, Smart Crust Frozen Pizza from Foster Farms in three varieties and others are likely to boost regional market growth.
Drivers –Frozen Pizza Market
Growing Consumption of Ready to Eat Food and Packaged Food
The growing consumption of ready to eat and packaged food is a significant factor driving the frozen pizza market during the forecast period 2020-2025. The use of ready-to-eat or ready-to-cook processed food is a major factor driving the market as it requires minimum preparation before eating. Moreover, the ingredients such as fruits, herbs and vegetables used in the pizza largely depend on its unique freezing procedure thereby propelling its market growth. One of the most recent developments in the frozen food industry are cryogenic equipment, that are utilized to freeze processed bakery goods such as croissants, wafers, bread, cakes, pastries, pizza and others. Growing developments in technology around the world is a major factor driving the Frozen Pizza Market during the forecast period 2020-2025.
Rising Use of Vegan Products
Rising use of vegan products in pizzas is another key factor driving the Frozen Pizza Market during the forecast period 2020-2025. Changing lifestyle along with the growing health concern and hectic schedules of people around the world is further propelling its market. Furthermore, the wide acclamation in celebratory events and household occasion, there is a demand for cakes and pizzas at affordable prices is further contributing to the market growth.
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Challenges – Frozen Pizza Market
Preferences of Freshly Prepared Food
Some of the factors that may impede the growth of Frozen Pizza Market are the preferences of freshly prepared food and the increasing price of raw materials during the forecast period 2020-2025. Moreover, the increasing consciousness among consumers regarding their health and the urge and preference for consuming more vegetable and plant-based protein diet to meet their demand, the enterprises are continuously bringing products that may hamper the market growth in terms of non-vegetarian topping pizza products.
Frozen Pizza Market Industry Outlook
Product Launches, Merger & Acquisitions, joint ventures, and R&D activities are key strategies adopted by the players in Frozen Pizza Market. Frozen Pizza Market top 10 companies are Amy’s Kitchen Inc., Conagra Brands Inc., Daiya Food Inc., Dr.August Oetker Kg, Freiberger Lebensmittel Gmbh Co, General Mills Inc., Hansen Foods LIc, Nestle S A, Palermo Villa Inc., Schwan’s Shared Services LIc and others.
In September 2019: Conagra Brands acquired the Sandwich Bros maker of Frozen breakfast and entrée flatbread pocket sandwiches.
The crust type accounted for the largest market share in 2019 owing to its reduced calories and health benefits they offer as compared to the other stuffed and deep-dish frozen pizzas.
Meat Toppings is one of the fastest growing segments of frozen pizza owing to the availability of huge options when it comes to meat toppings including smoked, grilled and many others.
By Distribution Channel, Retail dominated the frozen pizza market in 2019 owing to the growing health consciousness among consumers and increasing demand of gluten-free products. Further, retail sales of frozen pizzas are anticipated to grow as the retail markets provides the consumers with a transparency to the nutrient contents and the presence of preservatives and toppings of their own choice.
North America dominated the Frozen Pizza Market owing to its technological developments along with the rising innovation in product developments like low trans-fat, low fat, whole wheat, multigrain, and low-on-artificial-preservatives products, the frozen food industry is likely to grow in the coming years. Growing innovations such as individually-quick-frozen method is projected to enhance market revenue during the forecast period 2020-2025.
A. Frozen Desserts Market
B. Frozen Bakery Market
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