In India, the pizza market has been showing tremendous growth, and in fact, emerged as a potential investment area for fast food players. According to a new research report by RNCOS, the demand for pizza is growing in India as consumers with hectic lifestyles do not want to spend much time into cooking. Besides, the food item is easily available in a variety and at affordable prices, pulling a large number of fast food consumers. With this, the pizza segment in India is witnessing the entry of many leading fast food players. On back of such factors, the Indian organized pizza market is estimated to grow at a compound annual rate of more than 27% during 2012-2015.
The report, “Indian Pizza Market Analysis”,
says that the market has witnessed a robust growth in the past few years, but remains concentrated in the metropolitan and tier-I cities. The tier-II & III cities as well as rural areas remain largely untapped. As per the study, all major international pizza companies, like Pizza Hut, Papa John, and Domino’s Pizza are expanding their operations into India, targeting the country as a key market to increase their revenues. The comprehensive research work includes a survey conducted by RNCOS on consumer behavior towards the consumption of pizza. It was found that despite looking for taste and brand, the Indian consumers are still inclined towards low-price menus.
The survey also looked into consumer preferences for vegetarian/non-vegetarian pizzas, home delivery, and major factors for selecting an outlet. Some of the additional features desired by consumers have also been studied that can act as an opportunity for various players in the field. The report also covers profiles of major companies present in the Indian pizza market to provide an insight to clients into their overall business, recent activities, and analyses of their strengths and weaknesses. It also presents forecast for pizza sales in the country that is based on the correlation between past market growth and growth in base drivers, such as middle class, urbanization, cultural shift, and lifestyle changes. Overall, the study aims to provide optimum information on the Indian pizza industry.
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