Pizza Market size to increase by USD 66 Billion between 2023 to 2028, Market Segmentation by Distribution Channel, Type, Geography , Technavio

NEW YORK, Dec. 16, 2024 /PRNewswire/ -- The global pizza market size is estimated to grow by USD 66 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 6.79% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. Distribution Channel
• 1.1 Quick service restaurants (QSR)
• 1.2 Full-service restaurants (FSR)
• 1.3 Others
2. Type 
• 2.1 Non-vegetarian pizza
• 2.2 Vegetarian pizza
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

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1.1 Fastest growing segment:

Quick Service Restaurants (QSRs), such as those specializing in pizza and burgers, have gained significant popularity due to their efficient and cost-effective business model. These restaurants offer fast food with minimal preparation time and express service, allowing for shorter delivery times and lower overhead costs. QSRs have standardized processes, enabling them to maintain quality while reducing expenses on space, furniture, air conditioning, and crockery. The rise of urbanization and increasing disposable income have fueled the growth of QSRs in India, with economic reports indicating a 20-25% increase in the fiscal year 2023. Notable chains like Dominos, Pizza Hut, and La Pinoz Pizza are expanding into tier 2 and 3 cities, capitalizing on the growing market and limited competition in these areas. Overall, the QSR sector is expected to drive the market in the forecast period due to its practicality and high return on investment.

Analyst Review

Pizza, a beloved global food staple, caters to various dietary preferences with an expanding range of vegetarian and vegan options. Plant-based diets are on the rise, leading to the popularity of vegan cheeses and plant-based meats on pizzas. Whole wheat and gluten-free crusts cater to those with dietary restrictions. BBQ chicken, pepperoni, and gourmet pizzas continue to be fan favorites. Pizzerias, delivery services, and online ordering make pizza convenient for consumers. Supermarkets and convenience stores offer take-and-bake pizzas for those who prefer cooking at home. Sustainability is a growing concern, with many pizza chains focusing on using locally sourced raw materials and reducing food waste. Ingredients like garlic bread, French fries, salad, and pizza chains contribute to the overall pizza experience. Brand recognition plays a significant role in consumer choice, with some chains becoming household names.

Market Overview

The Pizza Market encompasses a wide range of Italian-inspired dishes, including pizzas, Italian fries, garlic bread, salads, and more. This global market is renowned for its diverse offerings, from classic pizzas to gourmet and artisanal varieties. Vegetarian and vegan pizzas, catering to plant-based diets, have gained significant popularity with the use of vegan cheese and plant-based meats. Raw materials such as wheat, water, yeast, salt, olive oil, tomato sauce, mozzarella cheese, vegetables, meats, seafood, herbs, and pepperoni are essential ingredients in creating these delicious dishes. The pizza market's worldwide popularity is fueled by cultural integration, globalization, and the convenience of delivery services like DoorDash and Grubhub. Consumers can enjoy pizza at restaurants, retail stores, supermarkets, and even order online for delivery or pick-up. Technical advancements, such as robotic automation and ghost kitchens, have streamlined the production process, making pizza more accessible than ever. Marketing campaigns, competitive prices, discounts, combo offers, and loyalty programs have contributed to the market's growth. The pizza market outlook remains positive, with an increasing focus on healthier product variants, locally sourced ingredients, and sustainable and ethical practices. Convenient food items like ready-to-eat and frozen pizza, pizza rolls, pizza pockets, and mini-pizzas continue to be popular choices for consumers.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

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SOURCE Technavio