European frozen pizza market is estimated to grow at a CAGR of 6.4% during the forecast period (2024-2031). The market growth is driven by the increasing demand for plant-based frozen pizzas and the significant availability of the working-age population. The working population prefers to eat convenience food products due to the busy schedule, which in turn, is driving the consumption of frozen pizza in the region. The European frozen pizza market is segmented by product (regular, premium, and gourmet), and by source (retail and food service chain).
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Market Dynamics
- A premium market segment is anticipated to show considerable growth during the forecast period, owing to the growing demand for high-quality items coupled with increasing disposable income, which allows to pay higher prices.
- The retail segment is expected to grow at a considerable share owing to the implementation of creative marketing strategies. Additionally, the growing awareness of the health benefits of frozen pizza is also driving the market growth. The growth of e-commerce is further driving the growth of the online e-commerce segment.
The major players in the European frozen pizza market include Nestlé S.A., CJ CheilJedang Corp., Dr. August Oetker Nahrungsmittel KG, and Südzucker AG. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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Recent Developments
- In July 2023, Bundeskartellamt cleared the takeover of Galileo Lebensmittel GmbH & Co. KG (Galileo) by the Dr. August Oetker KG group (Dr. Oetker) in the first phase of the merger control proceeding. Consumers and retailers will still have sufficient alternatives to choose from post-acquisition.
- In April 2023, Nestlé and PAI partnered to set up a joint venture for Nestlé’s frozen pizza business in Europe. Nestlé will retain a non-controlling stake with equal voting rights alongside PAI Partners. Nestlé’s leading pizza business in the US is not part of the scope and remains integral to Nestlé’s frozen food operations there.
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