Pizza Foodservice Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia-Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Pizza Foodservice Market Analysis
The Global Pizza Foodservice Market is projected to register a CAGR of 7.2% during the forecast period, 2022-2027.
The COVID-19 pandemic led to widespread economic distress throughout the region. The pandemic has profoundly impacted the food systems, including food security and nutrition, food and livestock production (including upstream input and credit provision), food safety, food supply chains, and regional food trade. After the advent of COVID-19, the food service sector was majorly hit by the strict lockdown measures introduced globally to limit the spread of the virus. However, an increasing consumer preference for convenient and on-the-go food options is the crucial attribute that drove the growth of the food service market during COVID-19. According to Domino's annual report, the tremendous sales and profit growth, which started pre-covid in 2020 and continued in 2021, made franchisees willing to expand their businesses by opening new stores. For instance, Domino's Germany opened 13 stores in 2020, and in the Netherlands, Domino's delivery volumes increased by almost 20 percent during COVID-19.
Over the medium term, the changing food consumption patterns and the increasing influence of international cuisines on food consumption habits are likely to drive consumer spending on different types of foodservice. Furthermore, the rapid expansion of infrastructure and urbanization is enabling the penetration of pizza foodservice in the recent past.
Moreover, exposure to media advertisements has influenced the dining habits of people. Also, the increasing millennial population seeking budget-friendly spaces to enjoy meals with their companions is boosting the pizza foodservice market globally.
Pizza Foodservice Market Trends
Rising Expenditure on Out Of Home Food Consumption
With the change in the consumer's lifestyles, the food consumption habits of the consumer have changed. The major factor that has influenced consumers to prefer these products is the growing per capita income and rising employment rate across the globe. With the rise in the popularity of food consumption outside the home, a large urban population with a fast-paced lifestyle is looking for options that save their cooking time and provide entertainment options for their friend and family members. The average annual amount of money spent on out-of-home food and beverages by residents of Spain increased to over EUR 814.97 per person after having dropped significantly in 2020 which was EUR 667.22 as stated by the Ministry of Agriculture, Food, and Environment of Spain.
Further, the rising income has fascinated the consumer's living culture towards a luxurious lifestyle, thereby, the pizza food service has been accelerating gradually. Moreover, the escalating expenditure is propelling more investment into the market for both existing and new players. Also, branded food chains, such as Domino's and Pizza Hut, entered the market with multiple branches, targeting tier-1 and tier-2 cities while catering to the rising young population. One of the key drivers of the market is the major changes in consumers' food preferences, particularly among the younger population globally. Additionally, with the increasing rate of smartphones replacing the computer as the primary device, consumers are gradually shifting to ordering through their smartphones. Food Delivery apps have been attracting Filipinos in National Capital Region and other regions in the Philippines to obtain the freedom to purchase food regardless of time or place limit. Moreover, there have been increasing developments in terms of online-based foodservice applications.
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North America Holds A Prominent Share in The Market
The North American region accounts for a hold of the maximum share of the pizza foodservice market. Moreover, according to the market study, it was understood that the major factor that captivates the consumers towards the consumption of pizza is that it is recognized as a high-consumption food and a contributor of nutrients of public significance in the American diet, including total fat, calcium, and sodium. According to the data based on the U.S. Census data and Simmons National Consumer Survey (NHCS), 4.91 million Americans consumed five or more store-brand pizzas within one month in the United States in 2020.
Additionally, seeking the demand for pizza consumption among consumers, there is a growth in pizza food service outlets as certain new outlets were being infrastructure in the region, Besides, in 2021, the number of Domino's pizza restaurants had 6,185 stores across the United States. Therefore, as the number of outlets is increasing with the rising demand for pizza consumption, the north American pizza food service market is being elevated significantly. According to the annual report of Domino's Pizza, consumer spending in the quick-service restaurant (QSR) pizza category increased to USD 40.6 billion in 2021, with sales in the carryout segment accounting for a share of around 48 percent. Consumer spending in the delivery segment also increased over the year. In contrast, dine-in, drive-through, and other decreased during the same period.
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Pizza Foodservice Industry Overview
The global pizza foodservice market is highly competitive in nature. This is due to the presence of domestic and international players on their respective horizons. Key players which are operating in the pizza foodservice segment are Papa John's International, Inc, Domino's Pizza, Inc., Retail Food Group, Yum! Brands, Inc., and California Pizza Kitchen.
Emphasis is given to the merger, acquisition, and partnership of the companies as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Further, the market volatility is accelerated in this market, thus, the players are focusing on expansion and new product development as their base strategy because it will enable the companies to expand their business by enchanting the consumer's focus on these products. For instance, in July 2022, Crust Pizza Co. opened its new franchise in Cypress.
Pizza Foodservice Market Leaders
Papa John's International, Inc.
Yum! Brands, Inc.
Retail Food Group
Domino's Pizza, Inc.
California Pizza Kitchen
*Disclaimer: Major Players sorted in no particular order
Pizza Foodservice Market News
- In February 2022, Domino's Pizza, Inc. expanded its business by opening its 1500th outlet in India. The company's strategy was to increase its outlet so that the consumers would gain easy access to purchase the products of the respective company.
- In December 2021, casual dining chain California Pizza Kitchen (CPK) introduced its first domestic franchise program to strengthen its reach in the United States.
- In December 2021, Crust Pizza Co. expanded its business by opening its new outlet at eight locations around the Houston area and Lake Charles, Louisiana.
Pizza Foodservice Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Structure
5.1.1 Chained Outlets
5.1.2 Independent Outlets
5.2 By Geography
5.2.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.2.4 South America
18.104.22.168 Rest of South America
5.2.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Domino's Pizza, Inc.
6.3.2 Marco's Franchising LLC
6.3.3 Yum! Brands, Inc.
6.3.4 California Pizza Kitchen
6.3.5 MTY Food Group Inc.
6.3.6 Papa John's International, Inc.
6.3.7 Retail Food Group
6.3.8 Uno Restaurant Holdings Corporation
6.3.9 Ilitch Holdings, Inc.
6.3.10 Darden Restaurants, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Pizza Foodservice Market Research FAQs
What is the study period of this market?
The Pizza Foodservice Market is studied from 2018 - 2028.
What is the growth rate of Pizza Foodservice Market?
The Pizza Foodservice Market is growing at a CAGR of 7.2% over the next 5 years.
Which region has highest growth rate in Pizza Foodservice Market?
Asia-Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Pizza Foodservice Market?
North America holds highest share in 2021.
Who are the key players in Pizza Foodservice Market?
Papa John's International, Inc., Yum! Brands, Inc., Retail Food Group, Domino's Pizza, Inc., California Pizza Kitchen are the major companies operating in Pizza Foodservice Market.
Pizza Foodservice Industry Report
Statistics for the 2023 Pizza Foodservice market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pizza Foodservice analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.