Market Size of Pizza Foodservice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
