Asia-Pacific Frozen Pizza Market to Signify Strong Growth by 2022-2028
Asia-Pacific Frozen Pizza Market
Asia-Pacific frozen pizza market is estimated to grow at a CAGR of 6.8% during the forecast period. Expansion of food service chains and increasing demand for ready-to-eat foods are some major factors boosting the market growth. McDonald’s, Domino’s Pizza, and Pizza Hut are some crucial food service chains for pizza in the region. Domino’s have more than 1,250 stores present in all over India. This number may increase coupled with the emerging demand for innovative pizzas in the country. Additionally, in November 2018, Pizza Hut India declared plans to open more than 200 more outlets in the country by 2022, which aims to widen its footprint in the country. As of November 2018, Pizza Hut operates nearly 431 stores across India. The opening of new retail outlets is providing ease to the pizza lovers to visit any nearest stores to get a range of new pizzas, which in turn, is propelling the market growth.
Asia-Pacific frozen pizza market is segmented based on product and source. Based on the product, the market is classified into regular, premium, and gourmet. In 2019, regular frozen pizza has witnessed a potential share owing to the significant demand for low-cost pizzas in the region. The normal selections for regular pizzas include sausage, cheese, supreme, and pepperoni. Like gourmet pizzas, regular pizzas are not personally developed for an individual customer. Gourmet pizzas have a high cost compared to regular pizza. Based on the source, the market is classified into retail and food service chain.
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Based on the country, the market is classified into China, India, Japan, and the Rest of Asia-Pacific. Frozen pizza is a renowned Italian food in China. By the end of June 2020, Pizza Hut had more than 2,200 restaurants in over 500 cities across China. Additionally, it had over 75 million digital members, and digital orders represented over 60% of sales in the first half of 2020. Frozen pizza is becoming highly popular in the Chinese market as it is a quick and easy option. India frozen pizza market is significantly driven by the increasing availability of the young-age population and expansion of retail outlets.
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Frozen Pizza Market Segmentation
By Product
- Regular
- Premium
- Gourmet
By Source
- Retail
- Food Service Chain
Regional Analysis
- China
- India
- Japan
Rest of Asia-Pacific
Company Profiles
- Amy’s Kitchen, Inc.
- CJ CheilJedang Corp.
- Convenio Foods International Pvt.Ltd.
- August Oetker Foodstuffs KG
- FROSITE
- General Mills Inc.
- HyFun Foods
- Iceland Foods Ltd.
- McCain Foods Ltd.
- Nestle SA
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