Frozen Pizza Market Size is Expected to Cross $39.4 Billion by 2031 | CAGR 7.96%

The global frozen pizza market size was valued at $17,362.80 million in 2020, and is estimated to reach $39.4 Billion by 2031, growing with a CAGR of 7.96% from 2022 to 2031.

Rise in demand for convenience food and advancements in freezing technologies is the key factor that drives the frozen pizza market.

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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.

Rise in demand for convenience is the key factor that drives the frozen pizza market. Other factors such as increased disposable income, rise in standard of living, and rapid increase in number of large retail chains supplement the growth of the market. Moreover, increase in popularity of gluten-free frozen pizza further fuels the market growth. Consumers' assumption about the presence of high levels of sodium, fat, calories, and preservatives in frozen pizza has led to their lower sales in various developing countries. The addition of preservatives and other chemicals is perceived as a negative trait in the frozen pizza.

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Major players, such as General Mills and Nestle, have enjoyed cost advantage amidst increasing cost of raw materials on account of operational excellence. As cost of raw materials would increase, players are expected to invest in R&D to develop advanced freezing technologies to reduce energy consumption and overall production cost, thereby increase in profit margins. For instance, the advancement of technology has led to the introduction of the quickest freezing technology such as impingement freezing, hydro-fluidization freezing, high-pressure assisted freezing, magnetic resonance-assisted freezing, and others. Freezing pizza with the help of liquid nitrogen also provides a major opportunity to the frozen pizza manufacturers, thus driving the market growth.

The key players operating in the Frozen Pizza Industry include Nestle 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., and Palermo Villa, Inc.

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