The Asia Pacific Frozen Pizza Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
Various companies are adding varied regional and local flavors in the frozen pizza that is gaining attraction of customers and this is anticipated to drive the growth of the market. In addition, an increased population is inclining towards the adoption of a vegan lifestyle that is accountable to propel the demand for vegan frozen pizza. On contrary, several developing countries are unable to have adequate freezing facilities for large production & distribution of frozen pizza, which may hamper the demand for the frozen pizzas in developing regions. Moreover, major players in this market are spending a huge amount on research and development activities to enhance the quality of the product and this factor is anticipated to offer new opportunities for the growth of the market.
Nowadays, eating outside has become a trend and people mostly prefer to eat delicious pizzas, which has increased the sales of pizzas across the world. Moreover, underdeveloped and rural areas are rapidly urbanizing and following modern trends. Further, the growing millennial population, improved living standards, increasing adoption of western food culture are some of the major factors that are accountable for surging the demand for the frozen pizzas and thus, augmenting the growth of the frozen pizza market.
In the current scenario, there is a gradual growth in the Asia-Pacific frozen pizza market. An increase in urbanization and swift growth in the food & beverage industry are some of the major factors offering lucrative opportunities for the frozen pizza market in this region. In addition, the factors like the growing preference for convenient food products and Ready-To-Eat products among the working population are contributing to the growth of the market. Additionally, the introduction of frozen pizza with gluten-free & preservative-free bases and innovative toppings are other factors pushing the frozen pizza market.
Moreover, there is an increase in the opening of new hotels, restaurants, and cafes that are providing better and fast services to the consumers. Several other factors such as increasing investments in the retail infrastructure hectic & busy schedule, and rising expenditure capacities of the consumers are also contributing to the growth of the frozen pizza market. Further, growing disposable income, evolution in the standard of living, and rapidly surging retail chains are bolstering the growth of the frozen pizza market. Furthermore, increasing penetration of social media like Facebook & other food & beverages sites are spreading awareness related to eating food trends that are supporting the growth of the frozen pizza market.
The Regular market dominated the Malaysia Frozen Pizza Market by Product in 2020, thereby, achieving a market value of $121 million by 2027. The Large market is estimated to grow at a CAGR of 9% during (2021 - 2027). Additionally, The Medium market is expected to witness highest CAGR of 8.4% during (2021 - 2027).
Based on Product, the market is segmented into Regular, Medium and Large. Based on Distribution Channel, the market is segmented into Hotel/Restaurant/Café, Offline Sales and Online Sales. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Frozen Pizza Market is Projected to reach USD 24.2 billion by 2027, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Conagra Brands, General Mills, Nestle SA, The Kraft Heinz Company, Daiya Foods Inc., McCain Foods Ltd., Oetker GmbH, Bellisio Foods Inc., Atkins Nutritionals, Inc., and Freiberger Lebensmittel GmbH Co.
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