The 2020 Pizza Power Report: A State-of-the-Industry Analysis
When compiling this year’s Pizza Power Report, three themes kept appearing again and again: quality ingredients, technology, and the youth culture. Consumers are increasingly insisting on the freshest, healthiest ingredients, a trend-driven largely by younger segments of consumers, who also demand the highest the technology available to facilitate ease of ordering and delivery. But, despite evolving approaches and consumer demands, the state of the pizza industry is strong. According to a Techonomic study, 83% of consumers eat pizza at least once per month. According to PMQ’s 2018 Industry Census, 60.47% of respondents reported an increase in sales over the previous year. Internationally, pizzerias are thriving, with a five-year forecasted growth rate of 10.7%. Trending Abroad China: Foreign Chain Invasions China continues growing, and everyone wants a piece of the pie. PMQ China projects that Pizza Hut will open a whopping 1,000 new units throughout the country i...