The global frozen pizza market size is expected to reach USD 25.2 billion by 2027, expanding at a CAGR of 3.2%, according to a new report by Grand View Research, Inc. Rising demand for the ready-to-eat food coupled with the immense popularity of pizzas among millennials, the young generation, and the working-class population across the globe is the key factor for market growth. Moreover, changing lifestyles and food preferences owing to a busy work schedules are also offering new scope for the market.
Over
the past few years, pizza has achieved massive popularity as an iconic dish
among the young generation and working-class population across the world.
Moreover, rising house party culture is offering new market opportunities
across the globe. Frozen pizzas have evolved as a ready to prepare food item
for small get together. It takes less than 20 minutes to be prepared and
contains a healthy dose of veggies, carbohydrates, protein, calcium, fats, and
vitamins. It is often enjoyed with salads and fizz drinks, which makes it
perfect for small gatherings. These consumer trends are anticipated to drive
the market over the forecast period.
North
America dominated the market and accounted for a revenue share of more than
35.0% in 2019. The U.S. and Canada are the largest consumers of frozen
food owing to their higher shelf life and popularity. The popularity of
such products is so high in the U.S that the ‘National Pizza Day’ is celebrated
every year on the 9th of February. Moreover, according to
Alto-Hartley, Inc., a kitchen equipment and installation company in the U.S.,
more than 40.0% of the U.S. population eats pizza every week. These consumer
trends are propelling the demand for the product in the regional market.
Full Research Report On Frozen Pizza Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/frozen-pizza-market
Frozen Pizza Market
Report Highlights
- Regular was the largest
product segment with a market share of more than 40.0% in 2019 and
expected to maintain dominance over the forecast
- The medium product segment
is expected to witness a CAGR of 3.5% from 2020 to 2027. Rising trend of
house parties among college grads, the young generation, and the
working-class population is opening new scope for the product in the
global market
- HoReCa
(Hotel/Restaurant/Café) was the largest distribution channel segment with
a market share of more than 59.1% in 2019 and anticipated to maintain the
dominance over the forecast period owing to the increasing occurrence of
QSR (Quick Restaurant Services) chains
- In Asia Pacific, the market
is anticipated to witness a CAGR of 4.0% from 2020 to 2027. With the
increasing popularity of pizzas in developing countries like China, India,
Bangladesh, and the Philippines, the region is expected to remain one of
the key potential regions.
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https://www.grandviewresearch.com/industry-analysis/frozen-pizza-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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