The Latin America, Middle East and Africa Frozen Pizza Market would witness market growth of 6.3% CAGR during the forecast period (2021-2027).
Increased usage of vegan items in pizzas is one of the major factors propelling the frozen pizza market in the coming years. In addition, factors like rising health concerns, evolving lifestyle, and busy schedules of consumers across the globe are accountable for the growth of the frozen pizza market. Additionally, with the increasing number of celebrations, household occasions, and events, there is a significant rise in the demand for vegan pizzas & cakes that are low in prices, hence, fueling the growth of the frozen pizza market.
Moreover, a large number of individuals are now inclining towards the consumption of vegan products instead of non-vegetarian products. This is attributed to the several health benefits offered by vegan products. In comparison to non-vegetarian products, vegan products provide more nutrients to the body and helps in keeping the body fit. Thus, these factors are anticipated to surge the demand for the vegan pizza market and hence, is bolstering the growth of the frozen pizza market around the world.
The LAMEA frozen pizza market is propelled by the growing working population in the various emerging nations. This has evolved the food habits of the consumers and led to an upsurge in the adoption of ready-to-eat food or food-on-the-go trend. This would positively impact the frozen pizza market growth during the forecast period. In addition, the presence of strong distribution channels for the availability of frozen foods in the region is anticipated to support the market growth in the coming years. Additionally, the rising development of cold chain technologies in this region is further projected to open new growth avenues for the market. Moreover, the outbreak of the COVID-19 pandemic has promptly surged the demand for ready-to-eat, healthy food items that come with longer shelf life and thus, augmenting the market growth.
However, increasing health consciousness in the consumers has led to an increase in the preference for fresh and natural food products. This may hamper the growth of the market in the future years. Whereas, busy lifestyles and increasing disposable income of consumers have boosted the popularity of convenience food, fueling the demand for frozen pizza. increasing retail networks in developing nations like Brazil would further add to the demand for frozen pizzas. On contrary, the negative perception of consumers related to the nutritional quality of the frozen food cost associated with deploying freezing technology, and poor freezing facilities in semi-urban and rural areas are the factors that are accountable to hamper the growth of the frozen pizza market.
The Hotel/Restaurant/Café market dominated the South Africa Intragastric Balloon Market by Distribution Channel in 2020, thereby, achieving a market value of $169.9 million by 2027. The Offline Sales market is showcasing a CAGR of 6.4% during (2021 - 2027). The Online Sales market is expected to witness a CAGR of 8.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Frozen Pizza Market is Predict to reach $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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