Market Overview
The global vegan frozen pizza market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 9.6% during the forecast period (2023-2030).
The utilisation of plant-based ingredients, gluten-free alternatives, multi-grain crusts, and increased retail distribution are some factors that are influencing the demand for vegan frozen pizza. Businesses are spending money on research and development to develop novel plant-based products that taste and feel like conventional meat, cheese, and other ingredients. As a result, a larger range of consumers are finding vegan frozen pizza to be more enticing. Also, businesses are providing gluten-free vegan frozen pizzas in order to meet the rising demand for gluten-free culinary options. With no compromise to flavour or texture, this enables customers with dietary limitations to enjoy a vegan frozen pizza.
Market Dynamics
Consumers growing knowledge of internet retailing to support growth
Online purchasing is a current consumer trend. One of the key drivers of this industry’s growth is online retail. It has never been easier for customers to buy edible products that suit their interests due to the creation of numerous new apps. While working people tend to avoid shopping at retail stores, the range of things accessible draws them in. Over 29% of the population, according to data from Eurostat from 2021, bought edible goods from e-commerce websites or apps. It is anticipated that the increased use of smartphones and the internet will fuel market expansion for vegan frozen pizzas and open doors for new competitors. Also, the vast majority of online shoppers added frozen items to their virtual shopping carts, according to AFFI.
The increase in the convenience food demand fuels the market expansion
The convenience that packaged edible products offer, which draws customers of all ages, is the primary driver of the processed food industry. Rapid change in the global market is due to consumer preference for convenience foods and RTE foods. The main driver of demand for frozen food products is that this type of food requires less work and preparation time than cooked foods. A further significant factor contributing to the market’s growth in the coming years is rising consumer disposable incomes. The World Bank estimates that urban areas will be home to two-thirds of the global population. Nearly a billion people will reside in urban areas around the world. Therefore, the adoption of vegan frozen pizza would be fueled by the growing population and busy lifestyle.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global vegan frozen pizza market is segmented based on crust type, toppings, distribution channel and region.
Due to its health advantages thin crust vegan pizza leading the way
Vegan cheese imitates the flavour and consistency of real cheese by using components that are produced from plants and combining the proteins of various plants. For instance, On November 3, 2022 ,the $23 billion Korean giant CJ CheilJedang has invested in New Culture Foods, giving the company the boost it needs to introduce its vegan cheese to pizzerias all over the country by 2023. CJ CheilJedang owns a 25% share in the US frozen pizza market.
Geographical Analysis
Significant population in China are supporting the growth of vegan frozen pizza
The middle class in China is expanding, which is raising disposable income. As a result, more customers can now purchase high-end and international goods, including vegan frozen pizzas. Recent years have seen a substantial Western influence on China, which has increased the appeal of Western-style cuisine, especially pizza. As a result, businesses now have the chance to market vegan frozen pizzas in the nation.
Competitive Landscape
The major global players include Impossible Foods, Beyond Meat, MorningStar Farms (Kellogg), Tattooed Chef, Amy’s Kitchen, Quorn Roncadin Unilever, Yves Veggie Cuisine and Daiya.
Why Purchase the Report?
- To visualize the global vegan frozen pizza market segmentation based on crust type, toppings, distribution channel and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of vegan frozen pizza market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global vegan frozen pizza market report would provide approximately 61 tables, 62 figures and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Emerging Companies