The global frozen pizza market is expected to grow at a CAGR of 6.5% over the course of the given forecast period of 2017 to 2026. With such a growth rate, the frozen pizza market is expected reach an overall valuation worth USD25.971bn by the end of the 2026, according to a new report researched and compiled by the analysts at Transparency Market Research talks about the overall dynamics of the global frozen pizza market.
There has been a substantial increase in the consumption of frozen pizza across different parts of the world. This is primarily because the leading companies in the market have introduced a wide range of pizza laced with different ingredients and attractive toppings, the report states. Also, the companies are bringing regional or local flavors and tastes in their pizzas and thus attracting more customers. Vendors are also introducing several new toppings because of the growing popularity of frozen pizzas.
Furthermore, vegan frozen pizzas are gaining good amount of traction due to an increasing number of the population adopting vegan lifestyle. Some of the key players in the global frozen pizza market include names such as FRosTA AG, Connies Pizza, General Mills, Conagra Brands Inc., Atkins Nutritionals, Nestle S.A., McCain Foods Ltd., and H.J. Heinz among others. The companies in the market are adopting new and advanced methods to enhance the taste and improve the overall quality of the frozen pizzas. Heavy investments for researching about new ingredients that have better taste and cater to large base of customers is also a key strategy adopted by market leaders.
From a geographical standpoint the global frozen pizza market can be segmented into five key regions namely Europe, Asia Pacific, North America, South America, and Middle East and Africa. Of these regions, the global market is expected to be dominated by the North America region. This dominance is largely due to the presence of several key players in the region coupled with increasing demand and product varieties, according to the report.