Published on : Nov 25, 2016
ALBANY, NY, Nov 25, 2016: The report provides an evaluation on the pizza market and presents a detailed analysis of the global pizza market. The drivers, challenges, and trends influencing the global pizza market have also been analyzed in this study. Analysis tools such as SWOT analysis and Porter’s five forces analysis have also been utilized in order to present the competition present in this market. The development of this market in key geographic regions such as North America, Europe, Central and South Africa, and Asia Pacific (APAC), and Rest of the World (RoW) has also been studied in detail.
The global pizza market is predicted to rise owing to the increasing craving for pizzas globally. The manufacturers of pizzas are introducing new kinds of toppings in order to attract consumers. Bold flavored pizzas, having different types of crust and baked in different styles have also been gaining popularity in the market. As per the report, the global pizza market is predicted to rise at a CAGR of 3.0% between 2016 and 2020. Millennials are opting for exotic flavored and innovative pizzas and are also on the lookout to customize pizzas in terms of calorie intake/day. The growing demand for gluten-free pizzas, the increasing customization and innovation in pizzas, and the expanding marketing initiatives will propel the development of the market. On the other hand, the increasing threat of raw materials’ contamination and volatile prices of food commodities may impede the development of the global pizza market.
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In the next section of the report, the segmentation of the global pizza market has been presented. In terms of foodservice operator, the market is segmented into independent operators and chain operators. Of these, in 2015, chain operators held the most significant share of over 62% in the market, in terms of revenue. The introduction of attractive promotional offers and effective strategies utilized for marketing have increased the chain restaurants’ popularity. In addition the increasing count of online internet users and the increasing utilization of internet have enabled the pizza chain operators to launch numerous ordering systems over different platforms.
On the basis of geography, the report categorizes the market into Europe, North America, Asia Pacific (APAC), Central and South America, and Rest of the World (RoW). Of these, APAC is poised to emerge as the most swiftly developing region in the market and is predicted to rise at CAGR of over 11.0% between 2016 and 2020. In APAC, consumers have evolved in terms of choice of pizzas and taste and have become more selective on their eating choices, thus fuelling market growth here. In addition, pizza outlets present in this region are constantly indulging in promotional activities and are bringing new additions to their menus in order to attract more individuals, thus driving market growth in APAC.
The prominent vendors operating in the market are California Pizza Kitchen, Boston Pizza, Domino's, Papa Murphy's, Papa John's Pizza, Telepizza, Yum! Brands, and The Little Caesars, among others, as per this report.
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