Frozen Pizza Market—Forecast till 2028
As per the analysis, the frozen pizza market is anticipated to register a healthy CAGR of 5.62% and reach a value of USD 18,424.4 million by 2028. Frozen pizza is normally stored at a controlled temperature under 0 degrees. Frozen pizza has a more extended time span of usability, inferable from its low-temperature condition and additives utilized for expanding the timeframe of realistic usability. Expanding customer inclination toward comfort food sources is expected to propel the market during the review period. Moreover, the development of the coordinated retail area is supposed to impact the deals of frozen pizza at the global level emphatically.
The major growth drivers of the development of the global frozen pizza market are the rising interest in comfort food, the rising number of working ladies, and the quick development of the coordinated retail area. Nonetheless, the excessive cost of the item is set to control the development of the global frozen pizza market. By the by, the rising interests in the virus chain market in emerging nations and the developing interest for natural items are supposed to set out rewarding open doors for players working in the global frozen pizza market during the conjecture time frame. However, frozen pizza isn’t cost-proficient for the shoppers, which is expected to constrain the development of the market.
The global frozen pizza market has been classified into Crush Type, Category, size, and distribution channel. The crust type is further classified as the thin crust, pan, stuffed crust, and others. The category segment is divided into conventional and gluten-free. The thin crust segment has contributed to the largest market owing to the highest market share of 48.55% in 2020.
In terms of size, the global frozen pizza market has been classified into regular, medium, and large. The distribution channel divides the global frozen pizza market into store-based and non-store-based. The Store-based channel, with the largest market share, is sectioned into supermarkets and hypermarkets, corner shops, and others.
Europe represented the biggest portion of 39.65% of the global frozen pizza market in 2020. The territorial market is supposed to enlist a CAGR of 5.56% during the figure time frame. Premiumization is one of the significant patterns building up some decent forward movement in European nations. The buyers are deciding on solid pizzas that contain the entire grain, have high fiber content, and are without gluten. Additionally, the rising shopper tendency toward comfort food sources because of occupied ways of life is expected to go about as a significant driver in the development of the European frozen pizza market.
North America is expected to register the second largest market for the global frozen pizza market with a 37.47% market contribution in 2020. The regional market is projected to register a CAGR of 5.71% during the forecast period. The frozen pizza market in North America has been encountering quick development because of the rising purchaser tendency toward prepared-to-eat food items.
The active players in the global frozen pizza market are California Pizza Kitchen, Inc. (US), Palermo Villa, Inc. (US), General Mills Inc. (US), Nestlé S.A. (Switzerland), The Simply Good Foods Company (US), Hansen Foods LLC(US), McCain Foods Limited (Canada), Dr. Oetker GmbH (Germany), Daiya Foods Inc. (Canada), and Conagra Brands, Inc. (US).
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