Frozen pizzas are simple to prepare and time efficient. Their convenience quotient is driving frozen pizza sales among urban consumers with hectic lifestyles. Future Market Insights (FMI) presents optimistic growth outlook, projecting frozen pizza sales to surge at 6% CAGR between 2021 and 2031.
Frozen pizzas are prepared with a wide range of toppings including vegetables and meat covering both health and taste requirements. They are commonly sold as ready to cook food products.
The rising working population and craving for instant snacks are driving the frozen pizza market. Frozen pizza is sold via store-based retailing including convenience stores, discounters, forecourt retailers, hypermarkets, supermarkets, food specialist and online retail platforms.
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Additionally, consumers desire food items that are easier to transport while having a longer shelf life. Fast-paced lifestyles have influenced consumers to seek ready-to-eat foods. Consumers are willing to pay a premium price for products obtained from organic and authentic sources. Producers of frozen pizza are consequently pushed to provide detailed information through labels.
Consumers are hesitant to buy frozen products owing to concerns over processed ingredients. By providing accurate information about the additives used in FDA-approved frozen foods, manufacturers can gain consumer confidence and long-term brand loyalty.
Key Takeaways from the Frozen Pizza Market Study:
- The U.S. is a leader in the frozen pizza market, accounting for 80.9% of the North America market in 2021, supported by favourable consumer purchase patterns.
- Italy holds the lead in the Europe market with a share of nearly 16%, owing to growing consumption as a staple food.
- Brazil accounts for over 32% of the Latin America market in 2021, aided by favorable changes in consumer cuisine preferences.
- Thin crust pizza accounts for a market share of 63.3% in 2021, owing to the preference for low-calorie products.
- Meat toppings are anticipated to witness lucrative growth with a CAGR of 6.8%, supported by a relatively large meat-eating consumer base.
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“The top frozen pizza market players have a well-defined product classification system. Manufacturers are concentrating their research and development (R&D) efforts on generating products that mimic freshly prepared pizza with superior nutrition to boost their revenue streams, creating a conducive environment for growth through the end of 2031,” said a lead analyst at FMI.
Who is winning?
Frozen pizza manufacturers are working on development of offerings that mimic freshly prepared pizza with lower calorie and fat content. In addition, manufacturers are focused on R&D to meet consumer demands in established and emerging markets.
While focusing on online retailing amid the pandemic, consumers are choosing from a wide range of products. Producers are promoting internet commerce to expand distribution in previously untapped markets.
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Some of the leading companies offering frozen pizza include Frozen Specialties Inc., Nestle S.A., Jubilant Foodworks Limited, Oetker GmbH, Convenio, Foods Pvt. Ltd, Daiya Foods Inc., Giovanni’s frozen pizza, Monte Pizza Crust B.V, General Mills Inc, McCain Foods Ltd, Dr., Connies Pizza, Conagra Brands, Inc. and others.
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