IMARC Group, a leading market research company, has recently releases report titled “Pizza Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the pizza market revenue. The global market size reached US$ 148.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 222.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.45% during 2024-2032.
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Factors Affecting the Growth of the Pizza Industry:
- Diverse Flavors and Customization Options:
The diverse flavors and customization options in pizza, catering to a broad spectrum of dietary preferences and cultural tastes, are propelling the market growth. Pizzerias and pizza chains are innovating their menu offerings to include a variety of crust types, toppings, and sauces, appealing to both traditional consumers and those seeking gourmet or exotic flavors. Furthermore, the rise of health-conscious consumerism is prompting pizza makers to introduce healthier options, including gluten-free, vegan, and vegetarian pizzas, along with those featuring organic ingredients. This ability to personalize pizzas is broadening its appeal, attracting a wider audience, and encouraging repeat business among individuals with specific dietary requirements or preferences.
- Shift Towards Online Ordering and Digital Platforms:
The rising shift towards online ordering and the utilization of digital platforms is contributing to the market growth. Consumers are favoring websites and mobile apps for placing orders due to the ease of access, the ability to browse menus, customize orders, and the attractiveness of online-exclusive deals. This digital shift is not limited to user behavior but also reflects on the operational aspect of pizza businesses. Implementing sophisticated online ordering systems, integrating with third-party delivery apps, and leveraging data analytics for targeted marketing are becoming standard practices. These digital advancements enhance user engagement and satisfaction, streamline operations, and open new revenue streams.
- Growing Number of Health-Conscious Consumers:
The rising health consciousness among consumers and concern about transparency in ingredient sourcing and nutritional information is strengthening the market growth. Consumers are seeking pizzas made with whole, unprocessed ingredients, lower-calorie options, and those accommodating dietary restrictions, such as low-carb or high-protein diets. Pizza brands are responding to this by innovating recipes that include more vegetables, lean meats, and alternative ingredients like cauliflower crusts and dairy-free cheeses. This shift towards health-conscious offerings is helping to retain existing buyers while attracting a new demographic that might have previously avoided pizza due to dietary concerns. Pizza brands are expanding their market base and staying relevant in a rapidly changing landscape by addressing the nutritional aspects and offering healthier choices.
Leading Companies Operating in the Global Pizza Industry:
- Boston Pizza
- California Pizza Kitchen Inc.
- CEC Entertainment LLC
- Chicago Pizza
- CICI ENTERPRISES LP
- Domino’s Pizza Inc.
- FAT Brands Inc
- Godfather’s Pizza
- MOD Super Fast Pizza LLC
- Papa Murphy’s International (Papa Murphy’s Holdings, Inc.)
- PepsiCo Inc.
- Pizza Capers (Retail Food Group Limited)
- Pizza Ranch
Pizza Market Report Segmentation:
By Type:
- Non-vegetarian Pizza
- Vegetarian Pizza
Non-vegetarian pizza represented the largest segment due to the rising demand for savory taste among individuals.
By Crust Type:
- Thick Crust
- Thin Crust
- Stuffed Crust
Thick crust accounted for the largest market share as it provides enhanced satisfaction to consumers.
By Distribution Channel:
- Quick Service Restaurants (QSR)
- Full-Service Restaurants (FSR)
- Others
Quick service restaurants (QSR) hold the biggest market share due to their enhanced convenience.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys a leading position in the pizza market on account of the increasing number of cafes and restaurants.
Global Pizza Market Trends:
There is a rise in the number of food delivery apps that offer enhanced access to pizza to a wider consumer base. In line with this, these platforms connect people with a variety of pizzerias, making it easier to order pizza from a range of options.
The growing consumption of pizza due to the rising social media influence on people is offering a positive market outlook. Apart from this, visually appealing pizza creation videos on social media platforms assist in attracting more consumers worldwide.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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