Pizza Market

Market Overview:

The global pizza market size reached US$ 141.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 192.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028. Rapid westernization resulting in shifting consumer dietary patterns, the augmenting popularity of online pizza ordering through web portals and mobile apps, and the introduction of healthier product variants, such as vegan, low-calorie and gluten-free pizzas represent some of the key factors driving the market.

Pizza is a flavorful dish of Italian origin, containing a round, flattened dough base of wheat bread spread with a savory topping mixture of cheese, meat, vegetables, and various seasonings. Typically served hot and cooked in a wood-fired oven at a high temperature, it is baked within a short period of time. It involves kneading the fermented flour dough with yeast, forming a pie shape, adding pizza sauce made from pureed tomatoes seasoned with spices, topping it with vegetables, and baking it. As a fast and convenient breakfast, lunch, dinner, or snack, pizza is a popular food choice on a variety of occasions. Pizza is typically seen as a savory food formed into a round shape and served in wedges, but over time, it has evolved to take on a variety of shapes, including rectangular and square, while the toppings for the baked crust have also evolved. Pizza is widely gaining traction across the globe as one of the most popular fast-food products.

Pizza Market Trends:

The global market is primarily driven by the increasing consumption of pizza across developing economies. This can be attributed to rapid westernization resulting in shifting consumer dietary patterns. In line with this, the escalating demand for ready-to-eat (RTE) and convenience food products among the working population due to their hectic lifestyles is providing an impetus to the market. Additionally, the augmenting popularity of online pizza ordering through portals and mobile apps is creating lucrative growth opportunities in the market. Besides this, the introduction of customized pizzas with innovative and exotic toppings and crust types as per consumer demands is positively impacting the market. Moreover, continual technical advancements, such as customer preference tracking analytics, robotic automation, ghost kitchens, and integrated third-party delivery systems, are creating a positive market outlook. The market is further propelled by numerous innovations to introduce healthier product variants, such as vegan, low-calorie, and gluten-free pizzas. Apart from this, various marketing campaigns and strategies adopted by the major market players are further fueling the market growth. Some of the other factors contributing to the market include rapid urbanization, inflating disposable income levels, and considerable growth in the food and beverages (F&B) industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global pizza market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, crust type, and distribution channel.

Type Insights:

• Non-vegetarian Pizza
• Vegetarian Pizza
   

The report has provided a detailed breakup and analysis of the pizza market based on the type. This includes non-vegetarian pizza and vegetarian pizza. According to the report, non-vegetarian pizza represented the largest segment.

Crust Type Insights:

• Thick Crust
• Thin Crust
• Stuffed Crust
   

The report has provided a detailed breakup and analysis of the pizza market based on the crust type. This includes thick crust, thin crust and stuffed crust. According to the report, thick crust represented the largest segment.

Distribution Channel Insights:

• Quick Service Restaurants (QSR)
• Full-Service Restaurants (FSR)
• Others
   

A detailed breakup and analysis of the pizza market based on the distribution channel has also been provided in the report. This includes quick service restaurants (QSR), full-service restaurants (FSR), and others. According to the report, quick service restaurants (QSR) accounted for the largest market share.

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
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for pizza. Some of the factors driving the North America pizza market include the presence of several key players across the region, the rising popularity of online pizza ordering via portals and mobile apps, inflating disposable income levels, and growing millennial population.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global pizza market. Detailed profiles of all major companies have also been provided. Some of the companies covered 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), Pizza Ranch, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pizza market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global pizza market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pizza industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.