Convenience Drives the Market

Frozen pizzas are simple to prepare and time efficient, and their convenience is provides a good explanation for the increasing sales among different types of consumers. Innovation is also a lucrative area in this category, with manufacturers constantly introducing plant-based or free-from options.

A recent report by Technavio suggests that the global frozen pizza market will register an annual growth of 4.61% and an incremental growth of USD4.17bn until 2025. For 2021, the category growth is estimated by Technavio at just under 4% – 3.9%, to be more precise, which is still a decent result taking into account the fact that the market size spiked last year when people spend more at home. Region-wise, a different study conducted by Future Market Insights revealed that the US is a leader in the frozen pizza market, accounting for 80.9% of the North America market in 2021, supported by favourable consumer purchase patterns. Italy holds the lead in the Europe market with a share of nearly 16%, owing to growing consumption as a staple food. Brazil accounts for over 32% of the Latin America market in 2021, aided by favorable changes in consumer cuisine preferences. Thin crust pizza accounts for a market share of 63.3% in 2021, owing to the preference for low-calorie products.

Meat toppings are anticipated to witness lucrative growth with a CAGR of 6.8%, supported by a relatively large meat-eating consumer base. The study also highlights that consumers look for food items that are easier to transport while having a longer shelf life, and fast-paced lifestyles have influenced consumers to seek ready-to-eat foods. Consumers are willing to pay a premium price for products obtained from organic and authentic sources. Producers of frozen pizza are consequently pushed to provide detailed information through labels. Consumers are hesitant to buy frozen products owing to concerns over processed ingredients, but, by providing accurate information about the additives used, manufacturers can gain consumer confidence and long-term brand loyalty.

To read the entire article, please access your complimentary e-copy of the Frozen Food Dossier, issue 2, 2021 here.

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