PUBLISHER: Allied Market Research | PRODUCT CODE: 1396860
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396860
The global low-cost pizza franchise market was valued at $16.4 billion in 2022, and is projected to reach $26.3 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
A low-cost pizza franchise outlet requires a low capital investment to start operations. This type of franchise store increases the accessibility of the franchises to people with low financial capabilities who want to start a pizza business. The low capital investment and higher profits are the major motivators that attract individuals to acquire a low-cost pizza franchise.
The presence of pizza industry giants such as Domino's, Papa John's, Marcos Franchising, and Papa Murphy's International LLC. Have significantly contributed to market growth in the past. The aggressive marketing and expansion strategies followed by these giants have led to the huge popularity of pizza across the global markets. The franchising model followed by these pizza brands has allowed individuals to start and operate their own pizza stores while using the goodwill of the popular brands. The franchising business model has significantly helped the pizza brands to increase their presence across the globe, thereby fostering the growth of the low-cost pizza franchise market.
The rise in the adoption of digital technologies is expected to drive the growth of the market in the forthcoming future. The rapid penetration of social media and the internet across the globe has led to an increased adoption of digital food ordering systems. For instance, about two-thirds of Domino's Pizza, Inc.'s global retail sales in 2022 were generated through digital channels. In addition, Domino's has created a number of innovative ordering platforms for Google Home, Facebook Messenger, Twitter, Amazon Echo, and Apple Watch in the U.S.
The low-cost pizza franchise market is analyzed on the basis of revenue component, type, franchise location, and region. On the basis of revenue component, the market is classified into franchise fees, royalty fees, advertising and marketing fees, supply chain and purchasing fees, renewal fees, and others. On the basis of type, the market is categorized into delivery and takeout franchise, carryout franchise, fast casual franchise, mobile pizza franchise, and others. On the basis of franchise location, the market is bifurcated into domestic and international. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
Papa John's International, Inc., Jets America, Inc., Hungry Howies Pizza & Subs, Inc., Marcos Franchising, LLC., Red Brick Pizza LLC., Sbarro LLC., Domino's Pizza, Inc., Mr. Gattis Pizza, LLC., Papa Murphys International LLC., and Little Caesar Enterprises, Inc. are the major companies profiled in the low-cost pizza franchise market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing low-cost pizza franchise market opportunities.
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