The global pizza market size reached $148.6 billion (USD) in 2023 and is projected to reach $222.5 billion by 2032, with a growth rate (CAGR) of 4.59% during 2023-2032, according to a new report from ResearchAndMarkets.com.
Healthier pizza—including low-calorie, vegan and gluten-free—and the popularity of online ordering are some of the major factors propelling the market, the report found.
What does all of that mean to smaller pizzeria operators? While the report emphasizes the worldwide power of major chains, it also offers some insights into how independent pizzerias can stand apart from the Domino’s and Pizza Huts of the world. In particular, locally and ethically sourced ingredients can make a difference to customers who care about their communities and about the planet.
Related: Will your customers pay more for a high-quality crust?
Also contributing to pizza market growth: tracking analytics that keep up with customer preferences, robotics, integrated third-party delivery systems and ghost kitchens. The leading players’ marketing campaigns and strategies are also propelling the market growth.
As “westernization” spreads around the globe, pizza consumption is on the rise in developing countries. “Pizza has become deeply ingrained in North American culture and is considered a staple food,” the report notes. “This cultural significance and long-standing presence have contributed to the dominance of North America in the pizza market.”
In addition to strong brand recognition for top companies like Domino’s, Pizza Hut and Papa Johns, North American chains “have been at the forefront of innovation and menu adaptation to cater to changing consumer preferences. They have introduced new pizza flavors, crust options and toppings to meet evolving tastes and dietary demands.”
Emerging markets in regions like Asia-Pacific, Europe and Latin America are also seeing “significant growth” in pizza consumption, “indicating a potential shift in market dynamics in the future,” the report says. “Pizzas have become a popular choice as a global food, adapting to local tastes and incorporating regional ingredients, leading to the growth of diverse pizza options. Moreover, various pizza chains offering competitive prices, discounts, combo offers and loyalty programs are also creating a favorable market outlook across the globe.”
In particular, the report points to demand for healthier menu choices, high-quality ingredients and nutritional information for health-conscious consumers. Adding vegan cheeses and plant-based meats, along with a wide range of veggie toppings, helps to ensure vegetarians and vegans feel welcome at pizzerias.
Meanwhile, many customers are choosing pizzas made with organic and locally sourced ingredients—an advantage to independent pizzerias and small chains that have the flexibility to work with local growers. These customers “prioritize sustainably and ethically produced food items,” according to the report. “Pizza establishments that source organic produce, use locally sourced meats, and promote their environmentally-friendly practices attract consumers who value these factors in their dietary decisions.”
Another point to keep in mind: Customers increasingly want convenient meal solutions due to their hectic lifestyles and busy schedules. That means many people are turning to convenience stores that offer freshly baked or heated pizza slices as a grab-and-go option.
“Furthermore,” the report continues, “individual-sized or personal-sized pizzas, pizza rolls, pizza pockets and mini-pizzas have also gained popularity as convenient options that can be easily eaten while commuting, at lunch breaks or during social events.”
Here’s Why the Global Pizza Market Reached $148.6 Billion in 2023
Pizza News
Subscribe to Pizza Pulse