Frozen Pizza Market Overview 2023-2027 – Market Size, Growth Rate, And Key Growth Drivers As Per The Business Research Company's Frozen Pizza Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Oct. 23, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s frozen pizza global market report 2023, the global frozen pizza market is on an upward trajectory, with expectations of growth from $18.80 billion in 2022 to $19.84 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 5.5%. Looking ahead, the market is projected to reach a significant valuation of $23.67 billion by 2027, supported by a CAGR of 4.5%.
Online Shopping Trend: A Key Growth Driver
The soaring popularity of online shopping is set to be a pivotal factor propelling the frozen pizza market in the near future. Online shopping provides consumers with the convenience of purchasing frozen pizza from the comfort of their homes and having it delivered directly to their doorstep. This mode of shopping offers access to a wider variety of frozen pizza brands and flavors compared to local grocery stores. Notably, the number of digital shoppers in the US increased from 268.2 million in 2022 to 274.7 million in April 2023, reflecting the growing trend of online shopping.
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Product Innovation: A Major Market Trend
Product innovation is gaining substantial momentum in the frozen pizza market. Leading companies in the industry are dedicated to developing innovative products to strengthen their market positions. For example, in November 2022, General Assembly Holdings Limited introduced the world's first frozen pizza made with Impossible beef, a plant-based alternative. This groundbreaking product, known as the New York Sicilian, offers a unique blend of ingredients, providing a satisfying and nutritious plant-based meal option.
Regional Insights
In 2022, North America emerged as the largest region in the frozen pizza market, demonstrating substantial market presence. However, Asia-Pacific is projected to be the fastest-growing region during the forecast period.
Market Segmentation
The global frozen pizza market is categorized into several critical segments:
- By Product: Regular Frozen Pizza, Premium Frozen Pizza, Gourmet Frozen Pizza
- By Crust Type: Pan, Thin Crust, Stuffed Crust, Other Crust Types
- By Topping: Cheese, Meat, Fruits And Vegetables, Other Toppings
- By Distribution Channels: Hypermarkets, Supermarkets, Convenience Stores, Specialty Stores, Non-Store Based
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By End-Use: Young Generation Consumers, Old Generation Consumers, Working Class Population
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The Global Frozen Pizza Market Report 2023 offers a comprehensive source of information for various stakeholders. Businesses can make informed decisions, innovate their product offerings, and adapt to market trends. Investors can identify potential growth opportunities in different regions and market segments. Government bodies can gain insights into frozen pizza market dynamics to shape relevant policies. Overall, this report serves as a valuable tool for anyone involved in or looking to enter the thriving frozen pizza market.
Frozen Pizza Global Market Report 2023 by The Business Research Company provides insights on the frozen pizza market size, frozen pizza market segments, frozen pizza market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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