Pizza Sales Share Rises from 17.9% to 28.1%
More Consumers Seek Value-for-Money Pizza Amid High Inflation
CU Launches 'Pizza Road' and Expands Product Variety
Frozen dumplings, which had previously held the top spot in frozen ready meal sales, have been overtaken by frozen pizza. This shift is attributed to the growing demand for value-for-money pizza at convenience stores amid high inflation. The diversification of frozen pizza products is also seen as a contributing factor.
According to CU on April 23, from January 1 to April 20 of this year, frozen pizza accounted for 28.1% of frozen ready meal sales. This figure surpasses the sales share of frozen dumplings (27.2%) during the same period.
CU launched the frozen pizza brand 'Pizza Road' this month, featuring cuisines from various countries around the world. Provided by BGF Retail.
In 2021, frozen pizza had the lowest sales share among frozen ready meals at 17.9%. However, this figure steadily increased to 19.1% in 2022, 22.2% in 2023, and 24.3% in 2024, reaching the high 20% range for the first time this year. Over the past five years, its sales share has surged by 10.2 percentage points.
Frozen dumplings had maintained the number one position in frozen ready meal sales for over 30 years, consistently enjoying strong demand. However, their sales share has steadily declined from 37.7% in 2021 to 35.3% in 2022, 33.5% in 2023, and 31.8% in 2024, dropping into the 20% range this year.
The sharp increase in frozen pizza sales is due to a continuous rise in consumers seeking value-for-money products at convenience stores as a result of higher dining-out prices and increased delivery fees. Additionally, the growing number of one- and two-person households looking for convenient meal options, along with the steady launch of frozen pizzas in various flavors and sizes, have contributed to this trend. The spread of new cooking appliances such as air fryers has also played a role in diversifying demand for frozen foods.
CU expects the strong performance of frozen pizza to continue. In response to this demand, CU launched the frozen pizza brand 'Pizza Road' this month, featuring cuisines from various countries around the world, and introduced two differentiated products. Pizza Road offers small-sized premium pizzas for one to two people, presenting menu items not previously available.
The first product from Pizza Road is the 'Marapino Pizza' (5,900 won). This pizza features a chewy crust topped with beef, jalapenos, and red peppers, allowing consumers to experience both the numbing and spicy flavors of Sichuan-style mala sauce and jalapenos at the same time.
Going forward, CU plans to release a variety of pizzas featuring signature flavors from countries such as the United States and Japan. Choi Seohee, HMR Team MD at BGF Retail, stated, "The popularity of frozen pizza is rising rapidly due to the advantage of being able to easily enjoy restaurant-quality pizza at a nearby convenience store," adding, "In the future, CU will regularly introduce new and unique pizza flavors that cannot be found at existing pizza restaurants, building a dedicated fan base for 'Pizza Road'."
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