The global low-cost pizza franchise market growth is attributed to the increase in the contribution of franchises to economic growth, the rise in the female workforce, and the emergence of the franchising model as a business expansion strategy.
PORTLAND, Ore., Nov. 5, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Low-Cost Pizza Franchise Market by Revenue Component (Franchise Fees, Royalty Fees, Advertising and Marketing Fees, Supply Chain and Purchasing Fees, Renewal Fees, and Others), by Type (Delivery and Takeout Franchise, Carryout Franchise, Fast Casual Franchise, Mobile Pizza Franchise, and Others), by Franchise Location (Domestic and International): Global Opportunity Analysis and Industry Forecast, 2023-2032."According to the report, the global low-cost pizza franchise industry was estimated at $16.4 billion in 2022 and is anticipated to hit $26.3 billion by 2032, registering a CAGR of 4.9% from 2023 to 2032.
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A low-cost pizza franchise allows individuals to own and run their own pizza restaurant for a fraction of the initial investment compared to a traditional franchise. This usually includes a lower franchise fee, as well as more flexibility in terms of location and equipment needs. The goal is to help entrepreneurs enter the pizza business and become successful pizza franchise owners.
Prime Factors Influencing the Market Growth:
The global low-cost pizza franchise market growth is attributed to the increase in the contribution of franchises to economic growth, the rise in the female workforce, and the emergence of the franchising model as a business expansion strategy. However, the high competition in the QSR pizza market and macroeconomic risks may adversely impact the market. On the contrary, technological advancements create lucrative opportunities for business operation growth in the coming years.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $16.4 Billion |
Market Size in 2032 | $26.3 Billion |
CAGR | 4.9 % |
No. of Pages in Report | 300 |
Segments covered | Revenue Component, Type, Franchise Location, and Region |
Drivers | · Increased research and development · Expanding target audience · Globalization of the market |
Opportunities | · Technological advancements to drive business operations |
Restraints | · High competition in the QSR pizza market · Macroeconomic risks may adversely impact the market |
The supply chain and purchasing fees segment to retain its dominance by 2032-
By revenue component, the supply chain and purchasing fees segment accounted for the major share in 2022, garnering more than half of the global low-cost pizza franchise market revenue, and is expected to retain its dominance by 2032. This is because there are several benefits such as economies of scale, boost supplier relationships, and increased operational efficiency associated with the supply chain and purchasing fees that boost the growth of this segment in the global low-cost pizza franchise market. On the other hand, the advertising and marketing fees segment would cite the fastest CAGR of 6.4% from 2023 to 2032. This is because advertising and marketing campaigns run by the franchisor help them to create a positive brand image and strong brand value that helps them to boost sales for both the franchisee and franchisor.
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The fast casual franchise segment to rule the roost by 2032-
By type, the fast casual franchise segment held the highest share in 2022, holding nearly two-fifths of the global low-cost pizza franchise market revenue, and is projected to rule the roost by 2032. This is because there has been a significant growth in the penetration of the FSRs and QSRs across the developed and developed nations across the globe in the past decade which signifies the importance and dominance of this segment. However, the mobile pizza franchise segment would portray the fastest CAGR of 6.1% from 2022 to 2031. This is because it involves less capital requirement, which further makes it a suitable option for franchisees with low capital.
The domestic segment to maintain its lion's share during the forecast period-
By franchise location, the domestic segment accounted for the major share in 2022, contributing to nearly three-fourths of the global low-cost pizza franchise market revenue, and is expected to maintain its lion's share during the forecast period. This is because of the huge revenue growth of popular brands such as Domino's, Papa John's, Marcos Pizza, and Pizza Hut in their home country. The international segment, on the other hand, would exhibit the fastest CAGR of 5.9% from 2023 to 2032. This is owing to the rapid penetration of international pizza brands in emerging markets, the presence of a huge youth population in developing nations, the growing interest of youth in entrepreneurship, and the limited risk-taking capabilities of entrepreneurs in developing nations.
North America garnered the major share in 2032-
By region, North America garnered the major share in 2022, acquiring two-fifths of the global low-cost pizza franchise market revenue, and is likely to dominate market share throughout the forecast timeframe. The presence of a huge number of FSRs/QSRs across the country coupled with the huge popularity of eating out culture, high disposable income, and surge in penetration of online food delivery platforms are significantly contributing towards the growth of the North American low-cost pizza franchise market. Simultaneously, the Asia-Pacific region would display the fastest CAGR of 7.1% by 2032. This is due to increasing investments by several small and midsized pizza companies in developing countries.
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Industry-Leading Players-
· Papa John's International, Inc.
· Jets America, Inc.
· Hungry Howie's Pizza & Subs, Inc.
· Marcos Franchising, LLC
· Red Brick Pizza LLC
· Sbarro LLC
· Domino's Pizza, Inc.
· Mr. Gattis Pizza, LLC
· Papa Murphys International LLC
· Little Caesar Enterprises, Inc.
The report analyzes these key players in the global low-cost pizza franchise market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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