According to a report available on Radiant Insights, Inc., the global frozen pizza market is estimated to grow at phenomenal CAGR over the forecast period (2018 to 2022). Rising preference for processed, canned, and convenience food owing to fast lifestyle and hectic schedules is a major market driver. Increasing number of working individuals around the world is anticipated to further boost the market over the forecast period (2018 to 2022). Frozen pizzas offer customized toppings as per consumer preference, which saves cooking time. In addition, growing demand for gluten-free and dairy-free pizza can also spur expansion of the market in the forthcoming years.
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Introduction of an assortment of new pizza toppings to suit consumer demand can positively influence the frozen pizza market. Interactive offers from manufacturers such as homemade flatbreads for pizza base coupled with low sodium frozen pizzas can further stimulate growth of the market. Use of advanced technologies to store, transport, and supply frozen food products is anticipated to impel market growth during the forecast period.
Considering the rising demand for frozen pizzas, most companies are offering variety of innovative toppings and ingredients to attract consumers. For instance, Caulipower, a popular frozen pizza brand from United States recently expanded its business into Canada. The company launched four new cauliflower crust frozen pizzas including three-cheese, margherita, veggie, and plain crust. All these pizzas are likely to be gluten-free and are low in sugar, calories, fat, and sodium. The company also claims these pizzas to be rich in fiber, protein, fiber, and vitamins.
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The worldwide frozen pizza market can be segregated on the basis of product type, toppings, size, and region. Based on product type, the market can be trifurcated into premium, regular, and gourmet frozen pizza. In 2016, regular frozen pizza segment accounted for the maximum market share owing to reasonable prices. In addition, easy availability of such pizzas in supermarkets and hypermarkets can further fuel the demand during the forecast period. Based on toppings, the market can be segmented into stuffed, thin crust, and thick crust pizza. Based on size, the market can be classified into small, medium, and large.
Regional segmentation includes Asia Pacific (APAC), North America, and Europe. The North America frozen pizza market is expected to remain dominant over the forecast period owing to the presence of leading companies. Growing adoption of advanced preparation methods coupled with production innovation can further fuel the regional market growth in the forthcoming years.
The Asia Pacific frozen pizza market is anticipated to witness significant growth over the forecast period owing to fast-paced lifestyle and focus on fast food options. In Europe, the market is expected to generate impressive revenue owing to high demand for convenience and packaged food. In addition, rising export activities of frozen pizzas can further fuel expansion of the regional market in the years to come.
Some of the leading companies in the frozen pizza market are Conagra Brands, Inc.; California Pizza Kitchen; Connies Pizza; Atkins Nutritionals, Inc.; and Daiya Foods Inc. Most companies are focusing on research and development (R&D) to develop new toppings and ingredients for frozen pizzas to cater to the evolving consumer demand. In addition, companies are also looking forward to possibilities of mergers and acquisitions (M&A) to maintain their market position in the coming years.
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