The global Frozen Pizza Market size is projected to reach a CAGR of 6.1% from 2023-2030.
Frozen pizza is a half-baked pizza that is prepared using yeasted flatbread dough and stored for later consumption. It is usually topped with different kinds of cheese, sauces, and meats such as ham and chicken. Once prepared, frozen pizzas are preserved at very low temperatures, i.e., flash-frozen to lock in their nutritional value and taste. In comparison to freshly baked pizzas, frozen pizzas need to be cooked further before consumption. They also have a longer shelf life, are economical, and assist in reducing the overall wastage of food.
Increasing urbanization and growing demand for convenience food products are the key factors driving the growth of the market. Due to changing lifestyles, dietary patterns, and hectic schedules, consumers are increasingly opting for easy-to-cook and ready-to-eat meal options. This trend, coupled with the increasing working population, is favoring the growth of the market. Additionally, growing health consciousness amongst consumers has led to the launch of gluten- and dairy-free product variants, which are gaining rapid popularity among consumers. Innovative toppings, organic ingredients, and vegan options are also contributing to the extensive demand for frozen pizzas. Some of the other factors such as a rapid increase in the number of retail outlets and Quick Serving Restaurants (QSRs), along with the utilization of advanced technologies for production, storage, and supply of the products for minimal wastage of food and resources also driving the market further.
Frozen pizza is generally costlier compared to freshly baked pizza. The manufacturers of frozen pizza are pricing their products higher as compared to fresh pizza owing to the costly production and storage process. Furthermore, this is not the only product available in the global market. Consumers can opt for fresh and other types of convenience foods, which are healthier in comparison to pizza. The oligopolistic market includes individual producers that are involved in price wars and charge prices according to their choice.
The outbreak of COVID-19 has resulted in creating immense pressure across supermarkets & hypermarkets, convenience stores, and food suppliers, globally. This has led to an increased sale of convenience foods such as frozen pizza, as consumers are stockpiling shelf-stable foods. The stockpiling practice has led to a sudden hike in the market value of the global frozen pizza market in 2020 which will normalize post the stabilization of this outbreak. However, the lack of availability of frozen bakery product stocks in retail stores is currently one of the biggest concerns across the world.
With the growing demand for easy meal solutions, frozen pizza offers a convenient option that can be cooked quickly and easily. Further, consumers are looking for healthier options including gluten-free crusts and organic ingredients. This created the need among the manufacturer to come up with healthier options in pizza categories. In addition to that, cooking frozen pizza is easy and less time-consuming which enabled the growth of this market as they are a convenient choice for busy consumers. When comes to pizza, there are a lot of flavors and topping choices available to the customers which makes them feel joy and eventually grows the frozen pizza market in the next coming years.
North America to Dominate the Market
