Frozen Pizza Market by Crust Type, Topping and Distribution Channel - Global Opportunity Analysis and Industry Forecast 2017-2023

The global frozen pizza market was valued at $11,113 million in 2016 and is projected to reach $17,296 million by 2023, registering a CAGR of 6.4% from 2017 to 2023. In 2016, the regular thin crust segment accounted for approximately three fifths of the share in the global market, in terms of value.

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Frozen pizza consists of a flat round base of dough baked with vegetable or meat toppings. Pizza is one of the most popular foods in Europe and North America and are sold fresh or frozen either whole or in portions across the globe. Freezing preserves the texture, taste, and nutritional value of pizza for a longer duration.

Factors such as increased disposable income, rise in standard of living, and rapid increase in number of large retail chains drives the growth of the frozen pizza market. Moreover, increase in popularity of gluten-free frozen pizza further fuels the market growth.

In 2016, the regular thin crust segment accounted for the highest market share in the global frozen pizza market. Frozen pizzas are trending toward thin crusts, owing to its reduced calories and health association they offer as compared to the other stuffed and deep-dish frozen pizzas. Thus, growth in health consciousness among the consumer is anticipated to drive the regular thin crust frozen pizzas market.

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However, frozen pizza has been perceived as less nutritious and are assumed to consist a high quantity of sodium and preservatives; this notion among consumers is projected to hamper the market growth. Poor freezing facilities in semi-urban and rural areas further restrains the growth of the market.
Growth in R&D activities by various frozen pizza manufacturers for advancement in freezing technology and increase in establishment of multiple fast food outlets in emerging economies are expected to provide lucrative opportunities for the market players.

In terms of value, Asia-Pacific and LAMEA collectively contributed approximately one-fifth share in the global market in 2016. Growth in urban population, rise in disposable income, and increase in number of retail chains in China, India, and Brazil are expected to drive the growth in these regions.

Competitive and Comprehensive Analysis of Leading Market Players

•Nestl S.A.
•Hansen Foods LLC (Private Label)
•Schwan Food Co.
•Dr. Oetker
•General Mills Inc.
•Freiberger Lebensmittel GmbH & Co. KG.
•Conagra Brands Inc.
•Daiya Foods Inc.
•Amy's Kitchen Inc.
•Palermo Villa Inc.

Analyst Review:

Rise in demand for convenience food is the key factor that drives the frozen pizza market. Frozen pizzas are healthy, ethical, comforting, and fit for the fast-paced life. People prefer convenience over price, which has led to the emergence of various frozen pizza which includes regular thin crust, extra thin, crust deep-dish, and others such as thick crust, stuffed crust, and rise crust pizzas.

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Changes in lifestyles impact consumer taste and behavior which has led to the rise in popularity of frozen pizza among the European and North American consumers’. Increase in the demand for convenience food is anticipated to drive the frozen pizza market. Foreign direct investment (FDI) in emerging economies, such as China, India, and Brazil, have led to increased participation from foreign and private players, which is expected to boost the retail infrastructure, thereby driving the frozen pizza market. China and India are undergoing infrastructural development with better and advanced connectivity; thus, retail shops are witnessing transition in terms of storage facility and inventory, which is anticipated to offer lucrative opportunity. With the increase in per capita income and growth in urban population, developing markets are expected to emerge as major markets for frozen pizza. Rise in number of fast food outlets such as Papa John's, PizzaExpress, Boston Pizza, Pizza Corner, Pizza Hut, and others, further contributes to the growth of the market.

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