The US may have hit “peak pizza.” Pizzerias were once the second-most common restaurant type, behind generic “American,” but since 2019 their numbers have fallen and they are now outnumbered by coffee shops and Mexican joints. Sales growth at pizza restaurants has lagged behind the broader fast-food market.
Food delivery apps have given consumers more options, and buyers are choosier, The Wall Street Journal reported. Several major pizza firms, including Pizza Hut and Papa Johns, are considering divestments or other strategic moves, and restaurants are engaged in damaging price wars with each other and rival fast-food outlets. The decline shouldn’t be overstated, though: Around one in 10 Americans will eat a slice of restaurant pizza on any given day.