The global frozen pizza market is expected to increase from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 20,196 million in 2023. It is foreseen to hit a valuation of USD 35,994 million by 2033. The market is slated to thrive at a CAGR of 6% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Market Share (2022) | USD 19,419.20 million |
| Market Share (2023) | USD 20,196 million |
| Market Share (2033) | USD 35,994 million |
| Market Share (2023 to 2033) | 6% |
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The global frozen pizza industry size developed at a CAGR of 2.4% from 2018 to 2022. In 2018, the global market size stood at USD 17,660.5 million. In the following years, the market witnessed significant growth, accounting for USD 19,419.20 million in 2022.
The frozen pizza market is growing due to rising urbanization, disposable incomes, and the demand for Western-style diets. People have started eating at home more often in recent years, resulting in a spike in frozen pizza sales. The industry is expected to continue to grow in the coming decade, influenced by companies' knowledge about consumer preference in terms of variety and pricing of frozen pizzas, coupled with how frequently consumers are likely to buy them.
Increasing demand for high-quality ingredients that fulfill the desire for innovation in the free-from and on-the-go food categories is expected to move the business forward. Additionally, frozen pizza can also be preserved for extended periods. Longer storage durations, easy availability, and affordable pricing are factors supporting the market.
The rising consumption of ready-to-eat and packaged foods is a chief growth driver. The usage of ready-to-cook, ready-to-eat, or processed food, which requires minimal preparation before consumption, is a prominent factor driving the demand for frozen pizza. Furthermore, components utilized in the pizza, including herbs, fruits, and vegetables, are heavily dependent on freezing technologies, pushing market expansion. Cryogenic equipment, which is used in freezing processed bakery products, is a recent breakthrough in the frozen food sector.
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A significant factor boosting the frozen pizza market is the increasing use of vegan ingredients. Changing lifestyles, in addition to increased health concerns and busy schedules of individuals all over the world, are moving the market forward. Furthermore, the widespread popularity of cakes and pizzas at affordable prices has bolstered consumption as a part of day-to-day diets.
As health awareness continues to grow, the need for diets rich in plant-based proteins and vegetables has gained importance. To achieve this demand, businesses are constantly introducing items that may stymie market growth in terms of non-vegetarian topping frozen pizza products. Preferences for freshly prepared food and rising raw material prices are two factors that may limit the expansion of the frozen pizza market.
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Consumer demand for high-quality items and their willingness to pay premium prices for them is on the rise. As a result, quality promises have become critical for product launches. When it comes to frozen pizza, claims such as Kosher and Halal are gaining consumer attention.
Companies with these certifications have a solid reputation in the marketplace. These certifications instill trust in the brand. For instance, General Mills Inc., a renowned frozen pizza maker, is certified to meet the following standards: HACCP, GMP, ISO 9001:2015, KOSHER, and FSSC 22000. Furthermore, Conagra Brands, Inc. operates in compliance with both external and internal standards. This contributes to the items and the company's security. Because the organization believes that quality should be assessed, it can also match the needs of consumers whose concept of quality includes precise standards such as Organic, non-GMO, or Kosher.
Participants in the frozen pizza business have seen tremendous growth thanks to the implementation of creative marketing methods. Manufacturers have sought to raise knowledge about the health benefits of frozen pizza by investing appropriately at each level of product development.
Frozen pizza has become a staple in many households, hence the most effective route of distribution for producers is online shopping via various e-commerce websites and applications. Additionally, as people were forced to stay at home during the pandemic, online retailers allowed them to order frozen pizza, which allowed storage and logistical benefits. Due to the frenetic nature of modern living, online retail offers door-to-door delivery services. As a result of this unique marketing campaign, frozen pizza has become extremely popular. Moreover, consumers, today prefer to shop online owing to broader access to brands and products in addition to attractive deals and discounts. As a result, being on e-commerce platforms is critical for manufacturers looking to establish a presence in the industry.
Thin crust accounted for a maximum share of 63.3% of the global frozen pizza market in 2022. The lighter the crust gets baked faster. Furthermore, calorie-conscious consumers choose thin crusts owing to lower calorie and fat levels.
Owing to increased meat consumption globally, particularly among millennial and Gen-Z demographics, meat toppings are expected to be valued at USD 13,649.9 million and record a CAGR of 6.8% in the forecast period. The essential nature of cheese in pizza preparation is to keep the growth of the topping going strong for the foreseeable future with an above-average CAGR of over 6%.
Store-based retailing is the most preferred and held a dominant share of more than 66.3% in 2022 and is expected to register a CAGR of 5.8% over the forecast period. Supermarkets are widely preferred channels for purchasing frozen pizza, holding a market share of 31.9% in 2022, which is expected to rise to 34.4% in 2033.
Large pizzas are popular among consumers, as pizza is increasingly considered for shared meal formats. The segment accounted for 51.3% of the global market in 2022 and is expected to drop gradually to 50.4% in 2033. This can be attributed to small pizzas that are making inroads in the market and gradually eating into the share of medium and large-sized alternatives, supported by the ease of servings.
According to FMI, North America dominates the frozen pizza market. The United States is anticipated to account for over 79.5% of the North America market in 2033. In 2022, the United States captured 17.2% shares in the global market. The frozen pizza business is expected to rise in the country due to technological advancements in cost-effective production.
Rising innovation in product developments in terms of nutrition and health, including low trans-fat, low fat, whole wheat, multigrain, and low-on-artificial-preservatives offerings to support sales in the long term.
The rising demand for instant frozen food products acts as a chief growth driver for the market. The Nordic frozen pizza market is expected to be accountable for over 20.6% in the year 2033.
The rising demand for healthy and instant fast food is driving the demand for frozen pizza and is also expected to bolster growth in the country as leading manufacturers seek to implement geographic expansion strategies.
With a significant rise in urbanization, the Singapore frozen pizza market is likely to gain a share of the South Asia Pacific market during the forecasted period 2023 to 2033. By 2033, the country is expected to account for more than 22.6% of frozen pizza consumption within South Asia.
According to a recent study by FMI, China is expected to account for more than 41.9% of the East Asia Market in 2023. In 2022, China captured 4.8% shares in the global market. For more than two decades, the Chinese economy has maintained a high rate of growth, which has been fueled by repeated gains in industrial output, imports, and exports. Growing consumer demand and capital investment driven by a massive population base and the resultant demand for instant food are exponentially helping the market of frozen pizza to grow.
In 2023, India is expected to command a market share of more than 26.8% in South Asia. Over the forecast period, the Indian market is expected to capture a CAGR of 9.2% in South Asia. In 2022, India captured 25.2% shares in the global market. The frozen pizza market in India is still in its infancy, but it is predicted to grow strongly in the near future. Foods like fish, shellfish, vegetables, and fruits used as toppings can also be frozen to extend their shelf life while maintaining their nutritional value.
This allows the market to maintain stability in pricing. Additionally, the market in India is supported by the evolution of modern retail outlets like DMart, Food Bazaar, and Spencers, in addition to online grocery stores like Big Basket.
| Countries | CAGR Share in Global Market (2022) |
|---|---|
| United States | 17.2% |
| United Kingdom | 4.2% |
| China | 4.8% |
| Japan | 6.8% |
| India | 25.2% |
Growing frozen pizza consumption is encouraging manufacturers to create products with longer shelf lives. Leading food and beverage firms are expected to contribute to the growth of frozen pizza globally with strategies to develop new flavor formulations and explore previously untapped markets in emerging economies.
Recent Developments Observed by FMI:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Crust Type, Toppings, Sales Channel, Size Type, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The projected CAGR of the frozen pizza market by 2033 is 6%.
The projected market value for 2033 is USD 35,994 million.
The market is estimated to secure a valuation of USD 20,196 million in 2023.
The consumer industry is the key consumer of the frozen pizza market.
The North America market is growing remarkably fast due to the increasing demand for convenient food options.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Crust Type 5.1. Thin Crust 5.2. Thick Crust 5.3. Stuffed Crust 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Toppings 6.1. Cheese 6.2. Meat 6.3. Fruits and Vegetables 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Store-based Retailing 7.1.1. Convenience Stores 7.1.2. Discounters 7.1.3. Forecourt Retailers 7.1.4. Hypermarkets 7.1.5. Supermarkets 7.1.6. Food Specialists 7.2. Online Retail 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Size Type 8.1. Small 8.2. Medium 8.3. Large 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Frozen Specialties Inc. 17.2. Jubilant Foodworks Limited 17.3. Convenio Foods Pvt. Ltd 17.4. Giovanni’s Frozen Pizza 17.5. Monte Pizza Crust B.V 17.6. General Mills Inc 17.7. Nestle S.A. 17.8. McCain Foods Ltd 17.9. Dr. Oetker GmbH 17.10. Daiya Foods Inc. 17.11. Connies Pizza 17.12. Conagra Brands, Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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