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1 Market Overview
1.1 Definition and presentation
In Italy, pizza represents more than just a dish: it is a symbol of the country's culinary culture and tradition, an element of national pride that has spread throughout the world, adapting to different tastes and styles. However, despite its many international variations, Italy remains the cradle of authentic pizza, with unparalleled diversity and quality. The Italian pizza-making tradition is expressed through a rich variety of doughs, sizes, formats and baking techniques, each with its own specificities and roots in different regions of the country. The segment of frozen pizzas and ready-to-use doughs is booming. The productors of frozen pizzas have invested significantly in research and development to offer products that come as close as possible to the quality of a pizza made in a pizzeria. This includes using high-quality ingredients, adopting slow rising techniques for the dough, and using wood-fired or stone ovens for baking prior to freezing to maintain the authentic taste and desired texture.
In 2023 the global pizza market reached a total value of 148.6 billion dollars. In the medium to long term, the industry is expected to grow. For the 2023-2032 the market is expected to expand at a compound annual growth rate (CAGR) of 4.45 percent by virtue of which it could reach a total value at the end of the period of 219.9 billion dollars.As for the frozen pizza segment, the world market is estimated at $17.6 billion in 2023. Again, the segment is expected to grow. For the period 2023-2032, a compound annual growth rate (CAGR) higher than that of the general market and equal to 5.3 percent is projected. By the end of the period, the global frozen pizza market could reach a total value of $28 billion.
This study focuses on the specific pizza market in Italy, analyzing consumption trends, competitive dynamics and growth prospects for the sector. For information on related markets, see the specific studies available in the Businesscoot catalog.
List of charts presented in this market study
- Pizza market
- Pizza market, breakdown by geographic area
- Frozen pizza market
- Value of production sold of other prepared meals (including frozen pizza but excluding fresh pizza)
- Annual household spending on the purchase of pizza and quiches
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Latest news
The m&a on food heats up. Alice Pizza also ready for reorganization - 28/03/2024
- ** Planned divestment:** Idea Taste of Italy is negotiating the sale of the Alice Pizza chain.
- **Interested in the purchase:** Among the suitors is private equity Clessidra, known for investments in the food&beverage sector.
- **Exit of Dea Capital:** Expected during 2024, considered by m&a experts as one of the expected deals.
- **Duration of investment:** Dea Capital has maintained its investment in Alice Pizza for about 5 years.
- **Ownership of Alice Pizza:** Idea Taste of Italy held 70 percent of Me&Alice Srl as of March 2019, which then evolved into Alice Pizza S.p.A.
- **Outlets:** Alice Pizza has just under 200 outlets, half of which are directly managed.
- **Direct management revenues:** Alice Pizza Stores, a direct management subsidiary, reported 34 million in revenues in 2022.
- **Affiliate agreements:** Includes a 50/50 joint venture with Only the Food and a framework agreement with Chef Express for development in the travel sector.
- **Estimated turnover:** Approximately 100 million euros attributed to Alice Pizza.
- **Other investments by Dea Capital:** Recent investment in the Legami chain.
Pizzium and Crocca, revenues of €43.5 mln (+45%). 12 openings in 2024 - 11/03/2024
- Pizzium and Crocca showed significant growth in 2023, with total revenues of 43.5 million, marking a 45 percent increase over the previous year.
- Pizzium recorded revenues of 39.5 million euros in 2023, representing a 38 percent increase over 2022.
- Crocca generated revenues of 4 million euros.
- The group's EBITDA margin was 20%.
- In 2023, 15 new restaurants were opened, bringing the total number of consumption points in Italy for the two brands to 52.
- By 2024, 12 more restaurants are scheduled to open: about 2/3 will be Pizzium-branded and 1/3 Crocca-branded.
- Pizzium's new openings will include locations in Trieste, Alessandria, Rimini, and Ferrara. Crocca will open two new locations in Milan.
- Stefano Saturnino and Giovanni Arbellini own 60 percent of the company's capital, with the remaining 40 percent acquired in 2021 by the Equinox fund.
- No IPO (Initial Public Offering) is planned for the group in the short term, due to the absence of liquidity problems.
- For the time being, Pizzium and Crocca's international expansion has been put on hold, with possible reconsideration after 2025 when the Equinox fund exits the group's capital.
ROSSOPOMODORO, NEW STORE AT ALBERTO SORDI GALLERY IN ROME - 29/02/2024
- **Brand**: Rossopomodoro
- **Specialization**: Pizza and typical Neapolitan cuisine
- **New Opening**: Galleria Alberto Sordi in Rome
- **Predicted Opening Period in Rome**: Between late April and early May 2024.
- **Progress 2023**: - 9 new openings between direct and franchised locations
- Significant openings in:
- Vicolungo Outlet (in partnership with Autogrill)
- Perugia Collestrada
- Bergamo Orio Center
- Cascina Merlata
- Como Center
- Abroad: two restaurants inside Eataly in New York (Soho) and Toronto, Canada, a new opening in Malta (the third on the island) and one in Prague -
- **Expansion for 2024**: Strengthening of partnership with Areas Spain, with openings planned in Ibiza and Barajas International Airport in Madrid - Entry into the French market with the new fast casual brand 'Rossopomodoro La Bottega' in Freiburg Basel-Mulhouse Airport - Further launches planned in Parndorf and Salzburg in Austria, the Philippines and Copenhagen in the second half of 2024 - Continuation of expansion in partnership with Eataly
Italpizza acquires from Nestlé the plant in Caudry, France, where the Buitoni-branded Fraich'up frozen pizza was produced - 06/02/2024
- **Founded**: 1991
- **Location**: Modena, Italy
- **Ownership**: Controlled by Cristian Pederzini through the holding company Dream Foods srl.
- **Recent Acquisitions**:
- Pizza Artesana Malgrat (Oct. 17, 2022)
- Mantua Surgelati (2022)
- Antico Forno a Legna (November 2020)
- Caudry Plant, France (from Nestlé Group, date not specified)
- **Investments**:
- Issuance of a €20 million minibond in March 2021, underwritten by Unicredit and 70% guaranteed by Sace
- Investment of more than €12 million for the modernization of the Caudry plant (2024-2028)
- Investment of about €5 million in the Antico Forno a Legna plant
- **Turnover**: - Nearly 400 million euros, with 60% coming from foreign markets
- Details 2022:
- nearly 200 million euros, with 60% from foreign markets in 54 countries
- **EBITDA** (2022): 8.3 million euros
- **Net financial debt** (2022): 16.7 million euros
- **Operating data**: - More than 1,700 employees - Annual production capacity of 435 million pizzas
- Industrial presence in Europe with 6 plants supplying customers in 60 countries
- Target of hiring about 140 employees by 2028 for the Caudry plant
- **Strategies and objectives**: - Internationalization and strengthening of industrial presence in Europe, especially in Northern Europe and the United Kingdom - Reduction of logistics costs and rationalization of production to increase production capacity
Roncadin, an award-winning family and business story - 24/11/2023
- **Awarded Company**: Roncadin of Meduno (PN), awarded in the fourth edition of the 2023 Economy and Development Award by the Pordenone-Udine Chamber of Commerce.
- **Turnover 2022**: 155 million euros.
- **Yearly Production**: 100 million pieces.
- **Personnel**: 750 employees.
- **Founding Year**: 1992.
- **Sector**: Production of Italian pizza for domestic and international mass distribution.
- **Sustainability**: - Sustainability investment 2022: 1.6 million euros (34% of capex). - 100% of electricity from certified renewable sources. - 99.8% of waste sent for recovery.
- **Future Goal**: B Corp. certification.
ALICE PIZZA AIMS FOR 210 OUTLETS BY THE END OF THE YEAR - 12/06/2023
- **Openings and projections**: Alice Pizza plans 20 new openings by the end of the year, aiming to reach about 210 outlets, divided equally between direct management and franchises, with 60 franchisees involved.
- **Franchise strategy**: The company believes it is essential to have directly operated outlets to share experiences and solutions with franchisees.
- **Expansion**: Since 2019, with the acquisition of control of the brand by DeA Capital, development has focused on Rome and Milan, as well as shopping centers. A development in Central-Northern Italy is planned and openings are planned in important railway stations such as Milano Garibaldi, Roma Termini and Malpensa Airport.
- **International Perspectives**: Alice Pizza aims for international expansion, considering proposals from global partners. To think about opening about 50 outlets abroad, it stresses the importance of having 200-300 performing pdv in Italy.
- **Personnel and rent management**: The company invests heavily in staff training and careers, also introducing incentives based on production. Regarding rents, Alice Pizza uses strategies to optimize costs, while also enhancing peripheral locations.
- **Product innovation**: For summer 2023, Alice Pizza introduces a new recipe in collaboration with Parmigiano Reggiano and Parmareggio, with a focus on dough quality and digestibility.
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