Global Pizza Market to Reach US$ 222.5 Billion by 2032, Impelled by Changing Dietary Patterns of Individuals

March 22, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "Pizza Market Report by Type (Non-vegetarian Pizza, Vegetarian Pizza), Crust Type (Thick Crust, Thin Crust, Stuffed Crust), Distribution Channel (Quick Service Restaurants (QSR), Full-Service Restaurants (FSR), and Others), and Region 2024-2032," the global pizza market size reached US$ 148.6 Billion in 2023. Pizza is a savory food item that is prepared from a flatbread topped with cheese, tomato sauce and various other ingredients, such as vegetables, meats, and herbs. The crust is traditionally cooked using a mixture of flour, water, yeast, and salt, which is stretched or rolled out to the desired thickness. It is a flavorful Italian dish that is a popular food choice among individuals on a variety of occasions. There has been a significant increase in the consumption of pizza across the globe due to its versatility and ease of customization. Some of the popular pizzas among the masses include cheese, veggie, pepperoni, meat, margherita, barbeque, Hawaiian and supreme.

Global Pizza Market Trends:

The global market is primarily driven by significant growth in the food and beverage industry. Coupled with the proliferation of quick service restaurants (QSRs) and food joints across multiple countries, this is providing a boost to the market. In addition to this, numerous leading players are heavily investing in the deployment of online food delivery models on account of rapid digitization and the penetration of high-speed internet connectivity and smartphones among the masses, which is significantly supporting the global pizza market. Along with this, changing dietary patterns of individuals and the shifting preference for convenient food items are driving the demand for pizza across the globe. Moreover, continual technological advancements and the advent of customer preference tracking analytics, robotic automation and cloud kitchens are acting as growth-inducing factors. Furthermore, the development of aggressive marketing strategies, celebrity endorsements and the introduction of healthier product variants, such as vegan, low-calorie, and gluten-free pizzas, are creating a positive market outlook. Other factors, including inflating disposable income levels of the masses, rapid urbanization and the increasing preference for western cuisines, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 222.5 Billion by 2032, exhibiting a CAGR of 4.45% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been segmented into non-vegetarian and vegetarian pizzas. Currently, non-vegetarian pizza is dominating the market.
  • Based on the crust type, the market has been classified into thick, thin and stuffed crusts. Among these, the thick crust represents the largest segment in the total market share.
  • On the basis of the distribution channel, the market has been classified into quick service restaurants (QSR), full-service restaurants (FSR) and others. Presently, quick service restaurants (QSR) accounts for the largest market share.
  • Based on the regional insights, the market has been categorized into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Amongst these, North America holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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) and Pizza Ranch.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Crust Type, Distribution Channels, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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, etc.
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Global Pizza Market to Reach US$ 222.5 Billion by 2032, Impelled by Changing Dietary Patterns of Individuals
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