Pizza Market Recorded a 4.84% Y-O-Y Growth Rate in 2021| Increasing Consumption of Pizza in Developing Countries to Boost Market | 17000+ Technavio Reports
NEW YORK, March 4, 2022 /PRNewswire/ --
Pizza Market Facts at a Glance-
NEW YORK, March 4, 2022 /PRNewswire/ --
Pizza Market Facts at a Glance-
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The Pizza Market is expected to grow by USD 42.20 million, at a CAGR of 5.45%, between 2020 and 2025 as per the latest market report by Technavio. Also, the market recorded a 4.84% Y-O-Y growth rate in 2021. The pizza market share growth by the non-vegetarian pizza segment will be significant for revenue generation. Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the pizza market size.
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Vendor Insights-
The Pizza Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Regional Market Outlook
The Pizza Market share growth in North America will be significant during the forecast period. 44% of the pizza market growth will originate from North America during the forecast period. The US is the key market for the pizza market in North America. Factors such as the growing desire for convenience foods and customization in food products are accelerating the pizza market growth in North America.
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Latest Drivers & Trends Driving the Market-
The increasing consumption of pizza in developing countries is a key driver augmenting the pizza market growth. Developing economies such as China and India have high consumer spending and focus on improving the quality of life. Consumers in these countries are adopting new lifestyles and are gradually shifting to European food products such as pizza. Vendors are also drawing consumer interest by adding value to their products and expanding their product portfolios. These factors will positively influence the pizza market growth during the forecast period.
The growing popularity of online food orders through portals and mobile apps is a major trend supporting the pizza market share growth. Online orders are more efficient than telephone orders as they eliminate communication errors. Consumers tend to spend more when ordering online than through telephones, mainly because of attractive digital menus. Many restaurants opt for mobile app-based food ordering to enhance their customer base by directly delivering meals or creating takeaway options for consumers.
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Pizza Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.45% |
Market growth 2021-2025 |
USD 42.20 million |
Market structure |
Fragmented |
YoY growth (%) |
4.84 |
Performing market contribution |
North America at 44% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Boston Pizza, Della RosaTM, Dodo Pizza, Dominos Pizza Inc., Figaros Italian Pizza Inc., Papa Johns International Inc., Papa Murphys, Pizza Hut, PizzaExpress (Restaurants) Ltd., and Telepizza |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents :
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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SOURCE Technavio
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