Global pizza market forecasted to reach $51.3 billion by 2026

The global pizza market is estimated to grow by $51.3 billion between 2021 and 2026 at a compound annual growth rate of 6.11% during the forecast period, according to Technavio”™s newly published report “Pizza Market by Type and Geography – Forecast and Analysis 2022-2026.”

The North America market is predicted to account for 43% of this growth, although the global environment is forecasted to see increasing consumption of pizza in developing countries including China, India, Brazil, South Africa and Indonesia, where interest in European food products is fueled by increased urbanization and the wider availability of goods.

The report noted that no single company will dominate this fragmented market, and it highlighted that the popularity of online food orders through portals and mobile apps was the key trend in the market. The main challenge, however, was the fluctuation in the prices of food commodities, which will be exacerbated by supply shortages and a combination of government regulations and adverse weather conditions that impact the availability of the raw materials such as wheat, vegetables, tomato sauce, meat, and cheese that are used in the pizza preparation.