Strongly hampered in its progression by the Covid episode, and extremely polarized from a geographical and commercial point of view, the global pizza market absorbs nearly 25 million tonnes of finished products (with or without tomato ingredients) every year, and should be worth EUR 22.4 billion by 2027.
The global market for pizzas (with or without tomato-based ingredients) is extremely polarized: more than 89% of the quantities sold each year are sold in retail outlet chains, compared with 11% in hotel and catering outlets. Geographically, over 87% of sales are generated in two regions: Western Europe (52%) and North America (35%).
The years 2020 and 2021 saw slightly faster growth in overall sales and, in detail, a significant drop in quantities sold by the hotel and catering sector. On the other hand, the effect of the pandemic-related population containment measures was accompanied by a spectacular 9% increase in retail sales.
In 2022 and probably also in 2023, global pizza sales stabilized for a short period, an adjustment after several consecutive years of increases that took the global market to around 2.46 million tonnes. According to Euromonitor, a new phase of development should drive the market between 2024 and 2027, by which time the quantities of pizzas sold worldwide could reach 2.62 million tonnes, with an estimated total value of over EUR 22 billion (including almost 20 billion in retail sales).
The imbalance resulting from the strong focus of sales on two main regions (Western Europe and North America) logically affects the development prospects of regional markets. In parallel with the slowdown in the Asia-Pacific market, overall growth in global pizza sales is expected to reach almost 180,000 tonnes between 2022 and 2027, with most of this growth in North America (+83,000 t) and Western Europe (+66,000 t). Latin America and Eastern Europe are also set to play a significant role in this growth, which is expected to reach an average annual growth rate (CAGR) of 1.4% over the 2022-2027 period. For the record, the global pizza market grew at a CAGR of 2% over the 2017-2022 period.
Prices studied by Euromonitor over the period 2019-2023 are also extremely contrasted, not only in terms of levels but also in terms of regions, ranging from the simple (0.8 USD/100g in July 2020 in Eastern Europe) to the seventeen times more (14.6 USD/100g in July 2023 in the Asia-Pacific region).
At a global level, recent trends have taken the average price from 2.6 USD/100g in July 2019 to 4.3 USD/100g in July 2023. Paradoxically, prices in North America are among the highest for the quantities distributed, while levels in Western Europe, by far the world's largest consumer base, remain particularly modest.
Some complementary data
Annual growth rates recorded (period 2017-2022) and forecast (period 2023-2027) for each consumption region.
Breakdown of sales volumes for each consumer region by distribution channel (retail, foodservice).
Comparative trends in sales of the different product categories in retail and foodservice channels.
Source: Euromonitor
