Pizza Market

Market Overview:

The global pizza market size reached US$ 148.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 222.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.45% during 2024-2032. The shifting consumer dietary patterns due to rapid westernization, the introduction of healthier product variants, such as low-calorie, vegan, and gluten-free pizzas, and the rising popularity of online pizza ordering through web portals and mobile apps are some of the major factors propelling the market.

Pizza is a popular and versatile dish that originated in Italy but has gained worldwide popularity. It typically consists of a round, flattened dough base made from wheat flour, water, yeast, salt, and sometimes olive oil. The dough is traditionally topped with tomato sauce, mozzarella cheese, and various ingredients such as vegetables, meats, seafood, and herbs. The most popular types of pizzas are pepperoni, Hawaiian (with ham and pineapple), BBQ chicken, vegetarian, and countless others. Over the years, pizza has become a staple in many cultures and is commonly found in pizzerias, restaurants, and even as a frozen or prepackaged meal in grocery stores. It is also consumed as a quick and convenient meal, ordered for delivery, or enjoyed at social gatherings and parties.

The market is primarily driven by the increasing consumption of pizza across developing economies due to rapid westernization. In addition, continual technical advancements, such as customer preference tracking analytics, robotic automation, integrated third-party delivery systems and ghost kitchens are contributing to market growth. Besides this, various marketing campaigns and strategies adopted by the leading market players are also propelling the market growth. Furthermore, the increasing globalization and cultural integration have introduced a wide range of international cuisines and flavors to different parts of the world. Pizzas have become a popular choice as a global food, adapting to local tastes and incorporating regional ingredients, leading to the growth of diverse pizza options. Moreover, various pizza chains offering competitive prices, discounts, combo offers, and loyalty programs are also creating a favorable market outlook across the globe.

Pizza Market Trends/Drivers:

Escalating demand for convenient food items

People are increasingly seeking convenient meal solutions due to hectic lifestyles and busy schedules. Moreover, the demand for ready-to-eat and frozen food items has grown as consumers look for quick and hassle-free meal options. Ready-to-eat pizzas, often sold in convenience stores or as prepackaged meals, require minimal preparation and can be consumed on the go, which is accelerating their demand. In addition, many convenience stores now offer freshly baked or heated pizza slices as a grab-and-go option. These pizzas cater to consumers looking for a quick and convenient meal while they are on the move or need a snack during their shopping trips. Furthermore, individual-sized or personal-sized pizzas, pizza rolls, pizza pockets, and mini-pizzas have also gained popularity as convenient options that can be easily eaten while commuting, at lunch breaks, or during social events.

The introduction of healthier product variants

As consumers become more health-conscious, there is a growing demand for healthier food choices, including pizzas. Moreover, various pizza companies are catering to various dietary preferences. For example, the availability of gluten-free crusts caters to individuals with gluten intolerance or celiac disease. Similarly, plant-based or vegan pizza taps into the growing demand for plant-based diets and attracts customers following those dietary choices. Besides, individuals are opting for pizzas made with organic and locally sourced ingredients. They prioritize sustainably and ethically produced food items. Pizza establishments that source organic produce, use locally sourced meats, and promote their environmentally-friendly practices attract consumers who value these factors in their dietary decisions.

The rising popularity of online pizza ordering

Online pizza ordering offers unparalleled convenience, as with just a few clicks or taps, customers can easily browse through menus, customize their orders, and place their pizza orders from the comfort of their homes or on the go. This convenience factor has led to a significant increase in pizza consumption as it eliminates the need for customers to visit physical locations or make phone calls to place orders. Online pizza ordering platforms often integrate with third-party delivery services, enabling seamless and efficient delivery processes. Customers can track their orders in real-time, receive delivery notifications, and enjoy the convenience of doorstep delivery, which is positively influencing the market growth.

Pizza Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global pizza market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, crust type and distribution channel.

Breakup by Type:

• Non-vegetarian Pizza
• Vegetarian Pizza
   

Non-vegetarian pizza dominates the market

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.

Non-vegetarian pizzas have been a staple in many cultures and cuisines for decades. They have gained widespread popularity and have become the go-to choice for many pizza lovers. The flavors, textures, and savory profiles offered by non-vegetarian toppings, such as pepperoni, sausage, bacon, and various meats, appeal to a significant portion of the consumer base. Moreover, non-vegetarian toppings offer a wide range of options for customization. Customers can choose from a variety of meats, such as chicken, beef, ham, or seafood, and combine them with other ingredients to create unique flavor profiles, increasing popularity of this segment.

Pizza establishments, including major chains and independent pizzerias, have expanded their menus to include a variety of vegetarian pizza options. These options often feature a diverse range of vegetable toppings, plant-based proteins, and cheese alternatives. The inclusion of vegetarian options reflects the recognition of the growing demand and the desire to cater to a broader customer base.

Breakup by Crust Type:

• Thick Crust
• Thin Crust
• Stuffed Crust
   

Thick crust holds the majority of the market share

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 accounted for the largest market share.

Thick crust pizzas are known for their substantial size and ability to satiate hunger. The thickness of the crust provides a substantial base that can accommodate generous amounts of toppings, cheese, and sauce. This makes thick crust pizzas a satisfying and filling meal option, appealing to individuals with hearty appetites or those looking for a substantial meal. Moreover, thick crust pizzas are often perceived as providing good value for money. The generous size and thickness of the crust, along with the ample toppings, create the perception of a substantial and satisfying meal.

Thin crust pizzas are often perceived as a healthier option compared to thicker crusts. They typically contain fewer carbohydrates and calories, making them a choice for those following specific dietary plans or seeking a lighter meal option.

Stuffed crust pizzas are also gaining immense popularity as they offer an indulgent and flavorful experience by incorporating cheese or other fillings directly into the crust. This provides an added layer of richness and a burst of flavor, making them appealing to individuals who enjoy a more decadent pizza experience.

Distribution Channel Insights:

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

Pizzas are mostly distributed through quick service restaurants (QSR)

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.

QSRs specialize in providing quick and efficient service, which is highly valued by customers seeking a convenient dining experience. They focus on fast food service, allowing customers to order and receive their pizzas quickly, either for dine-in, takeout, or delivery. The emphasis on speed and convenience makes QSRs a preferred choice for individuals looking for a quick and hassle-free meal. Moreover, many QSR chains have established strong brand presence and recognition worldwide. They have built a loyal customer base over the years through consistent quality, efficient service, and effective marketing strategies. This brand recognition and trust contribute to their market dominance and attract a large customer base. In addition, QSRs often have a widespread network of locations, allowing them to reach a broader customer base. Their extensive presence in various locations, including urban centers, suburbs, and transportation hubs, ensures accessibility and convenience for customers.

Breakup by Region:

• 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
   

North America exhibits a clear dominance, accounting for the largest pizza market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Pizza has become deeply ingrained in North American culture and is considered a staple food. This cultural significance and long-standing presence have contributed to the dominance of North America in the pizza market. North America is home to several well-known and established pizza chains that have a significant market presence. These chains, such as Pizza Hut, Domino's Pizza, and Papa John's, have a long history in the region and have built strong brand recognition and loyalty among consumers. Moreover, pizza chains in the region have been at the forefront of innovation and menu adaptation to cater to changing consumer preferences. They have introduced new pizza flavors, crust options, and toppings to meet evolving tastes and dietary demands.

In recent years, emerging markets in regions like Asia Pacific, Europe, and Latin America are also experiencing significant growth in pizza consumption, indicating a potential shift in market dynamics in the future.

Competitive Landscape:

The competitive landscape of the pizza market is dynamic and diverse, with numerous players competing for market share. Presently, the leading market players are offering healthier menu choices, using high-quality ingredients, and providing nutritional information to cater to health-conscious consumers. They are also introducing vegan cheese alternatives, plant-based meat substitutes, and a wide range of vegetable toppings to accommodate the growing vegan customer base. Besides, various key players are offering competitive prices, discounts, combo offers, and loyalty programs tend to attract and retain customers. They are also investing in advertising, promotions, and social media engagement to create brand awareness, loyalty, and preference among consumers.

The report has 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 key players in the market 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

Recent Developments:

• Domino's Pizza, Inc. expanded its business by opening its 1500th outlet in India for providing consumers with easy access to pizzas and other products of the company.
• California Pizza Kitchen (CPK) introduced its first domestic franchise program in the United States to strengthen its reach.
• Papa Murphy's International has introduced new menu items to cater to changing consumer preferences and to attract a wider customer base. These additions include gluten-free crust options, plant-based toppings, and healthier ingredient choices.

Pizza Market Report Scope:

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 2018-2032.
• 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.