PIZZA HUT® RELEASES REPORT ON 2024 PIZZA TRENDS: DEMAND REMAINS HIGH FOR SWEET & SPICY OFFERINGS & THIN CRUST NO. 1 CRUST PREFERENCE IN U.S.

Rhea-AI Summary

Pizza Hut is introducing hot honey pizza and wings nationwide, reflecting the latest pizza trends and consumer behaviors. The company's culinary experts predict 2024 to be a year of spicy flavors, layers of flavor, and thin crust, among other trends. The PR also highlights pizza consumption habits, sauce preferences, crust choices, pizza styles, seasonings, toppings, and pizza habits and preferences across the U.S.

Insights

Market Research Analyst

The introduction of Pizza Hut's Hot Honey Pizza and Wings nationwide reflects a strategic move to capitalize on current consumer trends towards sweet and spicy flavors. This product rollout is likely to stimulate sales, as limited-time offers often create urgency and drive traffic to stores. The pricing strategy, with the Hot Honey Pizza starting at $11.99 and Hot Honey Wings at $5.99, appears competitive and could potentially increase the average customer ticket size.

From a market research perspective, the success of the test phase indicating 'exceeded guest expectations' suggests a positive reception that could translate into increased market share, particularly among younger demographics such as Gen-Z, who are reported to favor spicy flavors. The focus on culinary innovation aligns with the broader industry trend of quick-service restaurants diversifying menus to include bold and differentiated flavor profiles to stand out in a saturated market.

Financial Analyst

For investors and stakeholders in the food service industry, the launch of a new product line such as the Hot Honey Pizza and Wings can be a significant event. Pizza Hut's parent company, Yum! Brands, may see fluctuations in its stock price as the market reacts to the potential for increased revenue. Historically, successful product launches in the fast-food sector have correlated with short-term stock boosts, though the long-term impact is contingent on sustained sales performance and market reception.

It is also worth noting the operational costs associated with launching new products nationwide, including marketing expenses, training and potential supply chain adjustments. Investors should monitor quarterly financial reports following the launch to evaluate the direct impact of these new offerings on the company's profitability.

Food Industry Analyst

The data from Pizza Hut's trend report provides valuable insights into consumer behavior and preferences, which are critical for the food industry. The emphasis on regional consumption patterns and crust preferences, such as the surprising preference for deep dish in New Mexico over Illinois, can inform targeted marketing strategies and menu adaptations to cater to local tastes.

Moreover, the report's findings on dipping sauce preferences and the popularity of certain days for pizza orders offer actionable data for optimizing menu offerings and promotional activities. For example, ramping up marketing efforts on Fridays could capitalize on the peak demand for pizza. Additionally, the willingness of consumers to try unconventional toppings and pairings, like pizza-flavored cocktails, suggests an openness to innovative culinary experiences that Pizza Hut can explore to further differentiate itself in the market.

Hot Honey Pizza and Wings to Roll Out Nationwide This Month

PLANO, Texas, Jan. 18, 2024 /PRNewswire/ -- To kick off the New Year, Pizza Hut is revealing its latest research on pizza trends and top predictions of what's to come in the pizza category for 2024. Pizza Hut has led the way with culinary innovation and iconic pizzas since 1958, from the Original Pan^® Pizza to Original Stuffed Crust^® to its latest category innovation, Pizza Hut Melts^®. The leading pizza destination continues to push boundaries, always staying on the pulse of the latest trends and consumer behaviors to introduce new creations for customers. With sixty years of pizza expertise, the Pizza Hut culinary team is releasing its latest pizza trend discoveries, revealing the behaviors and insights of pizza lovers of all ages nationwide and forecasting its pizza predictions for 2024.

Pizza Hut's culinary experts predict 2024 will be a year of spicy flavors and toppings, layers and layers of flavor, and thin crust continuing to reign supreme, among several other trends explored in their latest report.

One huge trend to spotlight is that the demand for sweet and spicy pizza offerings will remain high this coming year. To jump on this trend, Pizza Hut is bringing hot honey offerings nationwide starting Feb. 1 for a limited time at select participating locations. The Hot Honey Pizza starts with your choice of crust, topped with marinara sauce, cheese, classic pepperonis AND crispy cupped pepperonis with a drizzle of sweet sauce infused with red habaneros and a touch of honey. Hot Honey Wings are available in traditional bone-in or boneless coated in sweet heat flavors. The Hot Honey Pizza starts at $11.99 and the Hot Honey Wings (6 count) starts at $5.99.- prices, participation and availability may vary.

Rachel Antalek, Pizza Hut's new Chief Food Innovation Officer says, "At Pizza Hut, our commitment to modernizing flavors is at the forefront of our brand identity. We lead trends and go bigger on flavor, as exemplified by the tremendous success of our Hot Honey test, which exceeded guest expectations. This bold innovation not only elevates our pizza experience but also opens up exciting opportunities to showcase our wings. Get ready for a flavor revolution that goes beyond pizza, truly embodying the spirit of Pizza Hut innovation."

Pizza Consumption Habits Across the U.S.

• On average, individuals indulge in pizza three times a month, with North Dakota leading the way at 3.5 times per month. The quantity consumed is approximately 8 slices monthly, varying across states, with Wisconsin taking the lead at 10 slices.
• When ordering, 47% prefer large pizzas, contributing to an annual consumption of 288 slices per person, equivalent to 480 gallons or a large, six-person hot tub filled to the brim.
• North Dakota, New York, Minnesota, and Wisconsin top the charts as the states with the highest pizza consumption.

Sauce Preferences and Crust Choices

• The experts at Pizza Hut predict thin crust will continue to grow in popularity as consumers look for lighter styles of pizza to enjoy in addition to their more indulgent pizza favorites.
• In terms of crust, Pizza Hut's recent survey found the most popular types of pizza crust are thin crust (28%), stuffed crust (20%) and thick-crust (14%).
  • Some states prefer stuffed crust: Arkansas (28%), Kentucky (27%), Louisiana (26%), Mississippi (24%), Montana (30%), Nebraska (28%), North Carolina (23%), Oregon (23%), South Dakota (27%), Tennessee (23%), Utah (25%), Washington (22%), West Virginia (28%) and Wyoming (30%).
  • More people in New Mexico prefer deep dish than in Illinois (21%, compared to 17%).
  • Hawaii was also found to be more fond of pan dish pizza than Michigan (24%, compared to 7%).
• Dipping sauces play a significant role in enhancing the pizza experience. Ranch is the most popular (38%), followed by garlic sauce (27%), hot sauce (8%), and others. Some states, like New York, stand out for preferring hot sauce.

Pizza Styles, Seasonings and Toppings

• Sweet and spicy pairings on menus are up 38% in the last year, and hot honey is projected to outpace nearly all other culinary and beverage flavors by 2027*. Pizza Hut predicts spicy flavors will continue to grow in appeal, especially with Gen-Z's favoring hot sauce.
• New York (35%) topped the charts as the most popular pizza style. Parmesan (55%) is the preferred seasoning, except in New York, where garlic salt is favored (29%). Respondents lean towards savory (52%), hearty (34%), and spicy (27%) flavor profiles.
• Pepperoni reigns as the preferred meat topping (42%), with exceptions in states like Illinois, Iowa, and Wisconsin, which favor sausage.
• Pizza lovers also shared they'd be willing to try several unusual fruit and veggie toppings on their pizza that they usually wouldn't go for: pineapple (44%), chili peppers (21%), artichokes (16%), potatoes (15%) and pickles (14%).
• Peppers overall are IN, according to Pizza Hut. From roasted sweet peppers to bold, spicy peppers
• Toppings that should be banned include: fish (23%), beets (21%), blueberries (15%), plums (14%) and kiwis (14%). 10% wouldn't ban anything.

Pizza Habits and Preferences

• Survey participants shared diverse preferences and habits. A significant percentage (31%) plans to eat more pizza in 2024. Nearly half (47%) are likely to order a pizza for personal enjoyment alongside group orders.
• Surprisingly, 25% are open to trying a pizza-flavored cocktail.
• Fridays (47%) emerge as the most popular day for pizza orders, while 52% believe pizza is a better meal than a snack.
• Cold leftover pizza is a popular choice for 74% of people.
• 23% frequently pair wings with their pizza orders, with New Mexico leading in this trend.

Survey Methodology
This random double-opt-in survey of 5,000 American adults was commissioned by Pizza Hut between December 22, 2023 and January 5, 2024. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).

*According to market research firm Datassential on Today.com

About Pizza Hut^® 
Pizza Hut, a subsidiary of Yum! Brands, Inc. (NYSE: YUM), was founded in 1958 in Wichita, Kansas and since then has earned a reputation as a trailblazer in innovation with the creation of icons like Original^® Pan and Original^® Stuffed Crust pizzas. In 1994, Pizza Hut pizza was the very first online food order. Today, Pizza Hut continues leading the way in the digital and technology space with over half of transactions worldwide coming from digital orders. Pizza Hut is committed to providing an easy pizza experience – from order to delivery – and has Hut Rewards^®, the Pizza Hut loyalty program that offers points for every dollar spent on food any way you order. Hut Rewards is open to U.S. residents 16+. See applicable terms at https://hutrewards.pizzahut.com/terms/. A global leader in the pizza category, Pizza Hut operates more than 19,000 restaurants in more than 100 countries. Through its enormous presence, Pizza Hut works to unlock opportunity for its team members and communities around the world. 

For more information, visit www.pizzahut.com. You can remain up to date on what's happening at Pizza Hut by following us on Facebook, Twitter, Instagram, TikTok and subscribing to our YouTube channel.

Press Contact 
ALISON BROD MARKETING + COMMUNICATIONS 
pizza@abmc-us.com

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SOURCE Pizza Hut

FAQ

What is Pizza Hut's latest culinary innovation?

Pizza Hut's latest culinary innovation is the introduction of hot honey pizza and wings nationwide.

What are the top pizza predictions for 2024 according to Pizza Hut?

The top pizza predictions for 2024 according to Pizza Hut include a year of spicy flavors, layers of flavor, and thin crust, among other trends.

How often do individuals indulge in pizza on average?

On average, individuals indulge in pizza three times a month, with North Dakota leading the way at 3.5 times per month.

What are the most popular types of pizza crust according to Pizza Hut's survey?

The most popular types of pizza crust according to Pizza Hut's survey are thin crust, stuffed crust, and thick-crust.

What are the most popular dipping sauces for pizza?

The most popular dipping sauces for pizza are ranch, garlic sauce, and hot sauce.

What is the preferred meat topping for pizza according to the survey?

The preferred meat topping for pizza according to the survey is pepperoni.

What is the most popular pizza style according to the survey?

The most popular pizza style according to the survey is New York style.

What percentage of people plan to eat more pizza in 2024?

31% of survey participants plan to eat more pizza in 2024.

What is the most popular day for pizza orders according to the survey?

Fridays emerge as the most popular day for pizza orders according to the survey.

What is the survey methodology used by Pizza Hut?

The survey was a random double-opt-in survey of 5,000 American adults commissioned by Pizza Hut and conducted by market research company OnePoll.