Walk down any frozen foods aisle of any grocery store in the U.S. and you're sure to find an assortment of frozen pizzas from outlandish and expensive to simple and cheap. And perhaps it's the affordable aspect that has consumers reaching into their freezers over dialing the number of their local pizza joint. Or maybe pizza parlors have gone downhill and frozen pizzas just taste better? Whatever the rationale, a recent study done by market intelligence firm Vericast revealed that consumers now prefer frozen pizza over delivery or takeout.
@sheeshjess At least I'm good for like 2 wks #wherethestamps#MakeASplash #Aldi ♬ original sound - Millennial32
Pizza is one of the most universally loved foods in the U.S. Combine a love for those savory pies with a need for convenience and "let's order pizza tonight" has been a reliable go-to for households all over the nation for decades. These days, however, you might be more likely to hear or say, "Preheat the oven and grab the DiGiorno out of the freezer." A recent analysis of the frozen pizza market conducted by Grand View Research shows the industry was worth a whopping $6.62 billion in 2022 and is expected to reach an annual growth rate of 6.9% from 2023 to 2030.
Forty-three percent of recent pizza restaurant guests reported they purchase a frozen pizza in a typical week according to Vericast's study. Cutting the likes of Domino's and Pizza Hut even deeper are the 13% of recent pizza restaurant customers who said they have traded down to frozen pizza over chains to combat inflation. And those who are still delivery devotees aren't necessarily doing so out of some deep-rooted loyalty — a whopping 40% of recent pizza parlor patrons admitted they have no preference when it comes to choosing a pizza joint. Oof. That stings something awful, doesn't it Domino's?
The shift from pizza parlors to the frozen foods section is just part of a bigger effort to scale back on dining out to save money. According to Vericast's 2023 Restaurant TrendWatch Report, nearly half of Americans (45%) plan to spend less on dining out this year. So unless pizza joints start slinging pies at a flashy 3-for-$10 price point (here's lookin' at you, Tombstone frozen pizza), we're thinking the immediate future of the pizza parlor is looking a bit bleak.