Portland, OR, Feb. 27, 2020 (GLOBE NEWSWIRE) -- According to the report, the global frozen pizza market was estimated at $11.11 billion in 2016, and is expected to reach $17.29 billion by 2023, growing at a CAGR of 6.4% from 2017 to 2023. The report offers a detailed analysis of the top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, top investment pockets, and wavering market trends.
Rise in demand for convenience food, increase in craving for gluten-free frozen pizza, and development of retail network in emerging economies drive the growth of the global frozen pizza market. On the other hand, lower sales of frozen pizza in developing countries due to negative consumer perception, and presence of poor freezing facilities in semi-urban and rural areas curb the growth to some extent. However, advancements in freezing technologies, increase in the number of fast food outlets, and growing urban population are expected to pave the way for an array of opportunities in the near future.
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The regular thin crust segment generated the largest share in 2016-
Based on crust type, the regular thin crust segment contributed to three-fifths of the total market share in 2016, and is expected to lead the trail till 2023. The same segment is also projected to grow at the fastest CAGR of 6.9% during 2017–2023. The other segments discussed in the market report include extra thin crust and deep-dish.
The retail segment to retain the lion’s share by 2023-
Based on distribution channel, the retail segment generated the major share in 2016, holding 89% of the global market. The segment would also register the fastest CAGR of 6.50% by 2023. The segment of food chain services is also discussed in the report.
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North America to rule the roost-
Based on geography, North America accounted for nearly half of the total market revenue in 2016, and is predicted to retain its dominance during the estimated period. The Asia-Pacific region, on the other hand, would cite the fastest CAGR of 8.8% from 2017 to 2023. The other regions analyzed in the market report include LAMEA and Europe.
Frontrunners in the industry-
The key players analyzed in the report include Conagra Brands Inc., Hansen Foods, LLC (Private Label), Daiya Foods Inc., Amy's Kitchen, Inc., Palermo Villa, Inc., Schwan Food Co., Dr. Oetker, Freiberger Lebensmittel GmbH & Co. KG., General Mills, Inc., and Nestl S.A. These players have incorporated a number of exclusive strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to retain their strong stand in the market.
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