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Frozen Pizza Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global frozen pizza products market was valued at USD 86.7 billion in 2022 and is projected to expand at a CAGR of 6.0% from 2023 to 2030. This is attributed to the increasing demand for convenience foods due to hectic lifestyles and the growing health consciousness among consumers. Furthermore, the ease of availability and affordability of frozen pizza products have increased the demand for these products.
The increasing demand for convenience food products due to the hectic lifestyles of individuals is fueling the growth of the market. Frozen pizza products provide convenience for consumers as they can be stored for a long time, reducing the need for frequent trips to the grocery store. Furthermore, the introduction of pizza variants with a range of flavors and toppings has widened the scope of the market.
The rising trend of premiumization is another factor driving the market growth. Manufacturers are introducing premium pizza variants with additional toppings, such as gourmet cheese, exotic vegetables, and flavorful meats. For instance, in March 2022, Nestle launched DiGiorno Rising Crust Four Cheese Supreme Pizza, which is a frozen pizza made with a classic tomato sauce and is topped with four cheeses, including mozzarella, fontina, white cheddar, and parmesan.
Moreover, the growing demand for frozen pizza products is attributed to the increasing availability of these products in supermarkets, convenience stores, and online stores. The increasing presence of key players in the retail space has further boosted the market growth. For instance, in May 2021, Nestle announced the launch of its DiGiorno Pizzeria! Thin line of frozen pizzas, featuring a thicker crust and more toppings than the traditional DiGiorno pizza.
Furthermore, the rising trend of health consciousness among consumers has increased the demand for healthier frozen pizza products. Manufacturers are offering clean-label frozen pizza products with reduced fat, calories, and sodium, which is expected to drive the market growth. For instance, in January 2021, Nestle launched DiGiorno’s Ultra Thin line that is made with just a few simple ingredients. Moreover, the increasing demand for organic frozen pizza products is anticipated to fuel the market growth in the coming years.
Product Insights
The traditional frozen pizza segment is expected to dominate the market over the forecast period. The segment captured around 47.7% of the market share in 2022. Increasing demand for convenience foods and the availability of various flavors are some of the key factors driving the growth of the market. Rising consumer preference for frozen pizza due to its convenience and easy availability is another key factor driving the growth of the market. According to a survey conducted by the National Frozen & Refrigerated Foods Association (NFRA), in June 2019, 52% of consumers in the U.S. stated that they purchase frozen pizza at least once a month. Furthermore, rising demand for healthy food options, such as vegan pizza, is further propelling the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment is expected to be the largest distribution channel for frozen pizza products during the forecast period. Supermarkets and hypermarkets are major retailers of frozen pizza products, as they provide a wide range of options to customers. Furthermore, supermarkets and hypermarkets also offer discounts on frozen pizza products, which drive sales. Additionally, the growth of the segment is attributed to the increasing number of supermarkets & hypermarkets in the region. For instance, according to the U.S. Department of Agriculture, the number of supermarkets in the U.S. increased from 38,015 in 2017 to 39,912 in 2019.
The online segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The growth is attributed to the increasing penetration of internet, which has promoted the growth of e-commerce in the frozen pizza market. Consumers prefer to shop online as it is convenient and provides a wide range of options to choose from. Furthermore, online retailers offer discounts and provide delivery services, which attract more customers to shop online.
Type Insights
The conventional frozen pizza segment accounted for the largest revenue share of 65.3% in the year 2022. The growing demand for convenience food, rising working-class population, and changing lifestyle are the major drivers of the conventional frozen pizza segment. The consumers are increasingly opting for convenience food such as frozen pizza due to its easy availability and long shelf life. Additionally, the increasing trend of snacking is also driving the conventional frozen pizza segment. For instance, in 2019, Nestlé S.A. launched DiGiorno Pizzeria! Thin & Crispy Cauliflower crust pizza to meet the growing demand for snacking pizza.
The premium frozen pizza segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The growing focus of manufacturers on product innovations, such as gluten-free pizza, is driving the premium frozen pizza segment. For instance, in 2019, Nestlé S.A. launched DiGiorno Gluten-Free pizza which is made with a cauliflower-based crust. The rising demand for healthy food among consumers has triggered the demand for premium frozen pizza. Furthermore, the implementation of promotional strategies by manufacturers such as Nestlé S.A. and General Mills, Inc. is likely to boost the market in the forecasted period.
Regional Insights
Europe dominated the market and accounted for a revenue share of over 33% in 2022. An increase in demand for convenience food is a key factor behind this growth in the region. Over the past years, the trend for frozen pizza has been on the rise in Europe, as it is considered to be a convenient, cost-effective, and time-saving meal. For instance, in April 2021, Nestlé launched its pizza range ‘Delissio’ in Germany, which includes a range of frozen pizzas.
North America is expected to witness the second-fastest growth in the coming years. Rising demand for frozen pizza products due to the increasing popularity of delivery services in the region is expected to drive the growth of the market. For instance, in May 2021, Nestlé launched a new pizza brand ‘California Pizza Kitchen’ in the U.S. and Canada. The brand offers a range of frozen thin-crust pizzas, which are designed to provide a restaurant-like experience at home.
Financial Projections
In this part of the frozen pizza products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a frozen pizza products business comes from retail customers, wholesale customers, and other possible sources of profit such as food services, catering, and food trucks. Here you will find a list with a description of each of them and other possible sources of profit.
Projecting Expenses
In this section, all the regular expenses related to keeping the frozen pizza products business running will be described. The list of operating expenses includes ingredient costs, labor costs, packaging materials, shipping costs, advertising, and others.
Key companies & market share insights
Some of the major companies operating in the market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Nestle S.A. launched a new range of frozen pizzas with a unique blend of flavors.
– In September 2022, Dr. Oetker launched a range of frozen pizzas with gluten-free and vegan options.
– In August 2022, Kraft Foods Group Inc. launched a range of frozen pizzas with a variety of toppings.
Some of the prominent players in the frozen pizza market include:
– Nestle S.A.
– Dr. Oetker
– Kraft Foods Group Inc.
– General Mills, Inc.
– Conagra Brands, Inc.
– Buitoni
– Amy’s Kitchen, Inc.
– DiGiorno
– Freschetta
– Tony’s Pizza
Global Frozen Pizza Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global frozen pizza products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Cheese
– Pepperoni
– Vegetarian
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Convenience Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Traditional
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the factors driving the frozen pizza products market?
[A]: The growth of the frozen pizza market is driven by increasing consumer preference for convenience and availability of frozen pizza products. Additionally, the increase in the demand for pizza in the fast food industry and the availability of a wide range of flavors and sizes of frozen pizzas are expected to propel the market growth. Furthermore, rising disposable incomes in emerging markets, increasing consumer awareness, and the popularity of frozen pizza as a convenient meal option are expected to fuel the market growth over the forecast period.
[Q]: Who are the Key Players in the Frozen Pizza Products Market?
[A]: The key players in the frozen pizza products market are Nestle S.A., Dr. Oetker GmbH, Kraft Heinz Company, General Mills, Inc., Bellisio Foods, Inc., Conagra Brands, Inc., and McCain Foods Limited.
[Q]: What is the Market Outlook for Frozen Pizza Products?
[A]: The global frozen pizza market is expected to grow at a CAGR of 4.4% from 2020 to 2027. The rising demand for convenience foods and the increasing number of pizza outlets and supermarkets are expected to drive the growth of the frozen pizza market.
[Q]: What are the Recent Developments in the Frozen Pizza Products Market?
[A]: Recent developments in the frozen pizza market include product innovation initiatives to meet changing consumer needs and preferences. For example, Nestle S.A. launched a new range of frozen pizzas under its DiGiorno brand. The range includes pizzas with new flavours and toppings.
[Q]: Which Region Offers the Largest Opportunity for Sales of Frozen Pizza Products?
[A]: North America is expected to hold the largest market share in 2020. The presence of a large number of pizza restaurants and the availability of a variety of frozen pizza products are the key factors driving the growth of the market in the region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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