The global pizza market was valued at almost $141 billion in 2015 and is expected to reach $169 billion by 2020, says Technavio.
Technavio’s has announced the launch of its latest market research report on pizza for the forecast period of 2016 to 2020. This market analysis, which is an integral part of the food portfolio, discusses the major drivers and key emerging trends that will influence the growth of the global pizza market during the forecast period. Some of the top vendors listed in this industry analysis include Boston Pizza, California Pizza Kitchen, Domino’s, Papa John’s Pizza, Papa Murphy’s, Telepizza, The Little Caesars, and Yum! Brands.
In terms of geographical analysis, Europe will be the largest revenue generating region in the global market and will surpass revenues of over $61 billion by 2020. The UK, Germany, France, Spain, and Russia will emerge as the key revenue generators for this region.
“Vendors in the global pizza market are focusing increasingly on adopting innovative packaging solutions for home delivery and takeaway pizzas. Innovations are made in terms of biodegradable packaging, compostable packaging, and packaging customized to a particular shape and size of a pizza. Corrugated packaging is also gaining traction among both, manufacturers and consumers in the global pizza market. Pizza chains favor corrugated packaging due to its insulation properties,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growing innovation and customization in pizza
Customers in the global market are constantly on the lookout for pizza infused with new and bold flavors. The demand for such innovative and exotic flavored pizzas are more common among millennials. Pizza that is customized based on the calorie intake is also becoming increasingly popular in the market. Pizza manufacturers like Pizza Hut offer nutrition calculator that gives customers the option to create their own pizza by selecting the crust type, toppings, sauce, and size of the crust based on their requirements and then the nutrition calculator will display the total calorie intake for the customers. The nutritional calculator will also display total sodium intake, the amount of total fat, carbohydrates, and protein.
Increasing demand for gluten-free pizza
The rising popularity of veganism and gluten-free diets have spurred the demand for gluten-free pizza among consumers. Establishments offering gluten-free pizza on their menus are more common in countries such as the UK, France, Canada, and the US. Gluten-free food products are generally consumed by people who suffer from gluten-related disorders such as celiac disease and non-celiac gluten sensitivity. Furthermore, consumers of gluten-free pizza tend to visit the same eateries after a positive eating experience and have the potential of becoming loyal and profitable customers.
Rising popularity of fast-casual pizza
A fast-casual pizza restaurant is a combination of quick-service restaurants and casual dining restaurants. It serves healthier pizza that is fresh but costs more than that served in quick-service restaurants. A rise in the number of health conscious individuals in the global market is the major driving force behind the growth of the fast-casual pizza restaurant segment. In 2013, Chipotle Mexican Grill partnered with restaurateurs Bobby Stuckey and Lachlan Mackinnon-Patterson to launch a fast-casual pizza concept called Pizzeria Locale, which cooks pizzas to perfection in around 2 minutes in customized 900° Fahrenheit ovens. MOD Pizza, Blaze Fast-Fire’d Pizza, Pie Five Pizza, PizzaRev, Uncle Maddio’s Pizza, and Live Basil Pizza are the top pizza restaurants in this category in the US.
Some of the other prominent vendors identified in this report are Chuck E. Cheese’s, CiCi’s Pizza, Godfather’s Pizza, Hungry Howie, Marco’s Pizza, Mellow Mushroom, Pizza Capers, Pizza Delight, PizzaExpress, Pizza Nova, Pizza Pizza, Pizza Ranch, PizzaRev, Round Table Pizza, and Spizzico Italian Kitchen.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Pizza Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Cheese Market 2016-2020
- Global Frozen Ready Meals Market 2016-2020
- Global Frozen Pizza Market 2015-2019
- Global Quick Service Restaurants Market – Market Analysis 2015-2019
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