Pizza may well just be the world’s most widely eaten food. Interestingly, though, the pizza industry is also one of the most competitive food service markets, constantly evolving with innovative new recipes and flavors. As the demand for pizza rises, so do the complexities involved in gaining a competitive edge. data providers, food service industry firms, and market insights analysts are all facing the challenge of understanding the pizza market and responding to trends in order to remain profitable.
In this guide, we’ll provide an overview of the trends impacting the pizza market in 2023, offer tips for understanding market trends, and discuss the importance of using up-to-date, insightful data in the evaluation and understanding process. We’ll also provide an overview of Brizo and the insights the platform can bring to the table when it comes to the pizza industry.
Understanding the 2023 Pizza Market
Pizza is part of a greater “convenience food” market that is being speaking to by health-conscious consumers who are seeking convenience without sacrificing nutrition or taste. This has created rapid growth within the pizza market: it is predicted to reach $191 billion dollars in 2020.
Though pizza is often thought of as a decadent and unhealthy food, there’s been an industry-wide response to the demand for healthier options, with the main streaming of thin crusts, gluten-free crusts, organic toppings, vegetarian options, and plant-based proteins such as Beyond Meat. As such, convenience foods are being offered with a greater range of health-conscious ingredients.
In addition, premiumization has become an enormous trend throughout the pizza market: consumers are willing to pay premiums for premium ingredients, unique/novel flavors, and clean labeling.
Tips for Understanding the Pizza Market
To keep up with the changing pizza market, restaurant tech providers, food service industry firms, and market insights analysts must always stay up to date with trends in order to remain competitive. To do this, here are some tips:
1) Track and understand consumer preferences. Knowing what flavors, ingredients, and recipes resonant with customers is key. An example of better understanding consumer preference would be tracking the frequency of sales by region.
2) Monitor competitors. Keep a close eye on your competitor’s growth, their pricing, new products introduced, and customer feedback.
3) Use predictive analytics. Predictive analytics can be extremely helpful in understanding trends. These analytics can provide insights about customer behavior and preferences, enable data-driven decisions, and help improve marketing tactics.
Data-led Industry Insights
The best way to evaluate and understand pizza trends in 2023 is through data-led industry insights. Most restaurants and foodservice providers rely on data-driven AI to gain valuable insights, optimize their menu, and understand their customers. With data-led insights, restaurants can enhance their systems with more comprehensive market insights and make decisions with confidence.
Brizo has created a platform that provides a board and diverse set of data for deeper foodservice market understanding and analysis. Our unique data fields specific to the food service industry include in-depth menu data and restaurant tech coverage. Brizo empowers sales teams with data-driven insights and analytics, ensures marketers attract, convert and close more leads, and helps restaurants and foodservice providers streamline production innovation and expand their brand with foodservice market intelligence.
