Pizza is one of the most popular comfort foods and has been a staple of the food industry for decades. Despite its popularity, most people don’t look beyond ordering the plain cheese or pepperoni pies, when analyzing pizza trends. Beyond simple consumer preferences, pizza trends are often deeply influenced by demographic, economic, and technological factors. Understanding these trends can help data providers succeed in the increasingly competitive market.
In this comprehensive guide, we’ll look at the pizza market from the perspective of restaurant technology providers. We’ll uncover the underlying trends that are driving the industry, the regions that offer the best opportunities, and the strategies that smart providers are using to tap into this growth.
Exploring Pizza as a Food Trend
Pizza is an ancient food, appearing in various forms from Greece to Egypt and beyond. But the modern concept of pizza emerged in Italy in the 1700s. Fast-forward to present day, and pizza has become a global phenomenon, with innovative ingredients, various topping, and new styles that are palette pleasers of all ages. In fact, the global pizza industry has experienced continuous growth over the last few years, and the trend is expected to continue in the coming years.
The United States is the largest market for pizza and accounts for around a third of the global market. Despite being the largest national market, it has seen a decelerating CAGR of just 1.9% over the past five years from 2015 to 2019. On the other hand, the developing regions in Asia, Latin America, and the Middle East have seen a single-digit growth over the same period.
Factors Influencing Pizza Industry Growth
Understanding the growth patterns and emerging food trends in pizza is critical for restaurant technology providers. Emerging trends are often associated with economical, behavioral, and demographic factors.
One of the key factors driving the growth of pizza is the changing consumer preferences. Consumers are increasingly turning towards more affordable, easy-to-make, and versatile food options, making pizza the ideal choice. In addition, pizza has become the preferred ‘fast food’ for health-conscious individuals. Slower growth markets in the US are also attributed to demographic changes. As older generations who are not as fond of pizza are dying out, younger generations are embracing the food.
In addition, technological advances in the food industry and the restaurant technology providers have enabled operators to rapidly expand their offerings. Generating a wider variety of pizza options, as well as allowing for more customization, has helped restaurants tap into the diverse palates from all across the globe. All these factors have helped propel pizza to the top as one of the most popular food choices around the world.
Best Regions for Pizza Offerings
From a restaurant technology provider perspective, it is important to understand the regions with the best potential for expansion. In the US, some of the states where pizza consumption is on the rise include New York, Texas, and Florida. In terms of international markets, some of the top countries include Italy, China, and India, all of which offer a rapidly growing consumer base.
In addition, an important food trend that will drive pizza growth is the growing popularity of premium and gourmet pizza. This high-end segment offers an opportunity for restaurant technology providers to tap into sectors that have been previously underserved. States such as California, Nevada, and New Jersey have become popular for their artisanal pizzas.
Key Strategies for Tapping Into Pizza Growth
Restaurant technology providers need to take a holistic approach to unlock the growth potential in the pizza industry. Some of the key strategies that smart providers are using include:
1. Improving customer experience: Technology providers should strive to improve customer convenience and satisfaction by offering easier ordering, faster delivery, and better customer service.
2. Enhancing versatility: Technology should help operators create unique pizzas by offering a wide range of ingredients. This will make it easier for operators to create creative pizzas to delight the customers.
3. Increasing efficiency: Technology providers should focus on improving efficiency by building custom solutions tailored to the unique needs of different restaurants.
4. Harnessing data: Technology providers should use data-driven insights to make smarter decisions. By staying on top of customer preferences, market trends, and operational patterns, providers can unlock greater efficiency and profitability.
To summarize
Pizza is an incredibly popular food, and understanding trends related to it can help restaurant technology providers succeed in the increasingly competitive market. Smart providers will need to be mindful of the demographic, economic, and technological factors driving growth. They will also need to focus on the regions with the best potential for pizza offerings, as well as adopt strategies such as improving customer experience and harnessing data. These strategies are essential for providers that want to establish their market presence and lead the future of the pizza industry.
