The a new report researched and compiled by the analysts at Transparency Market Research talks about the overall dynamics of the global frozen pizza market. As per the findings published by the report, the global market is expected to grow at a considerable CAGR of 6.5% over the course of the given forecast period of 2017 to 2026. With such high growth rate, the frozen pizza market is expected reach an overall valuation worth US$25,971.1 mn by the end of the given forecast period.
There has been a substantial increase in the consumption of frozen pizza across different parts of the world. This is primarily because the leading companies in the market have introduced a wide range of pizza laced with different ingredients and attractive toppings. Also, the companies are bringing regional or local flavors and tastes in their pizzas and thus attracting more customers. Vendors are also introducing several new toppings because of the growing popularity of frozen pizzas. Furthermore, vegan froze pizzas are gaining good amount of traction due to increasing number of population adopting vegan lifestyle.
Some of the key players in the global frozen pizza market include names such as FRosTA AG, Connies Pizza, General Mills, Conagra Brands Inc., Atkins Nutritionals, Nestle S.A., McCain Foods Ltd., and H.J. Heinz among others. The companies in the market are adopting new and advanced methods to enhance the taste and improve the overall quality of the frozen pizzas. Heavy investments for researching about new ingredients that have better taste and cater to large base of customers is also a key strategy adopted by market leaders.
From a geographical standpoint the global frozen pizza market can be segmented into five key regions namely Europe, Asia Pacific, North America, South America, and Middle East and Africa. Of these regions, the global market is expected to be dominated by the North America region. This dominance is largely due to the presence of several key players in the region coupled with increasing demand and product varieties.
Changing Lifestyles is changing the Dynamics of Market
There has been a growing demand across the globe about frozen food items and especially pizzas. This s one of the primary reasons behind the growth of the global frozen pizza market. Rising awareness among masses about the use of frozen food products is also projected to play an important role in driving the global frozen pizza market in the coming years of the forecast period.
The world around us is constantly evolving and that has led to changing food habits and overall lifestyle. Due to the fast paced and hectic lifestyle, primarily the working population is giving increasing preference to frozen pizzas. These pizzas can be directly bought from the market and just need to heat up at the time of eating. This saves a lot of time for the working professionals. This is thus a key reason behind the growth of the global frozen pizza market.
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In addition to this, aforementioned factors such as development of new ingredients and heavy investments by industry leaders is also expected to encourage the growth of the global frozen pizza market in the near future.
Increasing Health Awareness Poses Potent Threat to Market Growth
The growth of the global frozen pizza market is not without some challenges in its path. Increasing health concerns such as obesity and high cholesterol levels caused due to prolonged consumption of fast food is one of the key factors that is slowing down the growth of the market. In addition to this, growing awareness among masses about high fitness regimes and consumption of highly nutritious food is also expected to slow down market growth.