Frozen Yogurt Market
Growth Factors of Frozen Yogurt Market
The frozen yogurt market size was valued at USD 1.80 billion in 2023, and the market is now projected to grow from USD 1.87 billion in 2024 to USD 2.46 billion by 2032, exhibiting a CAGR of 3.53% during the forecast period of 2024-2032.
Frozen yogurt has become famous due to the health concern that has taken root in the societies and coming up of new flavors. Its demand is also high in developed countries because of the changes in life that affect choice of food and demand for healthy foods. Big players are also seeking entry in the lower and medium income segment to occupy a larger market share. COVID-19 had a short-term beneficial effect on yogurt retail consumption as consumers bought more due to the fear of having the virus, although it led to slight decrease in yoghurt consumption because most specialty stores closed.
The rise in the demand for new and extraordinary tastes presents an important factor for the frozen yogurt specialty with references to tart-soured production as it is perceived to be tastier and healthier than normal yogurt. This is something that is currently highly sought for in the market thus enhancing market growth in the globe. Consequently, manufacturers continue to develop new tart-flavored goods For instance, Pinkberry in April, 2023 unveiled fresh white Peach tart frozen yogurt topped with blueberries, strawberries, and peach puree.
The self-serve model of frozen yogurt is the most increasing rapidly today due to the health conscience movement. This model also provides customers with full control of toppings, flavors, portion sizes and enable customers to choose according to their diet. The Global Frozen Yogurt Association has reported that nowadays, more than two thirds of FY stores are self-serving. Many charge customers based on weight and this makes them adopt this model compared to the full-service outlets.
Comprehensive Analysis of Frozen Yogurt Market
The frozen yogurt market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by favor analysis, by fat content analysis, and by distribution channel analysis. By favor analysis incudes chocolate, mango, banana, strawberry, pineapple, and others. By fat content analysis incudes Low fat (0.5%-2%), No fat (<0.5%). By distribution channel analysis incudes, online sales channel (E-commerce), supermarket/hypermarket, specialty stores, retailers, others.
The North America region lead the frozen yogurt market share by benefitting a market size of USD 511.82 million in 2023 due to the presence of top manufacturers.
Top players in the market have their responsibility of food & beverages industrial prospectus growth of the retailing industry and the markets. These players include, Danone, Pinkberry, Honey Hill Farms, Scott Brothers Dairy, Red Mango Inc., Yogurtland Inc., Gujarat Cooperative Milk Marketing Federation, Nestle S.A., General Mills these market players provide a level-playing competitive landscape.
In August 2023, Unilever announced plans to expand its U.S.-based frozen yogurt brand Yasso into the U.K. market.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 3.53% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Flavours
- Chocolate
- Mango
- Banana
- Strawberry
- Pineapple
- Others
By Fat contents
- Low fat (0.5%-2%)
- No fat (<0.5%)
By Distribution Channel
- Online sales channel (E-commerce)
- Supermarket/Hypermarket
- Specialty Stores
- Retailers (Grocery Stores)
- Others
By Geography
- North America (By Type, Grade, Distribution Channel, and By Country)
- The U.S. (By Fat Content)
- Canada (By Fat Content)
- Mexico (By Fat Content)
- Europe (By Type, Grade, Distribution Channel, and By Country)
- Germany (By Fat Content)
- U.K. (By Fat Content)
- Spain (By Fat Content)
- France (By Fat Content)
- Italy (By Fat Content)
- Rest of Europe (Grade)
- Asia Pacific (By Type, Grade, Distribution Channel, and By Country)
- China (By Fat Content)
- South Korea (By Fat Content)
- Australia (By Fat Content)
- Japan (By Fat Content)
- Rest of Asia Pacific (By Fat Content)
- South America (By Type, Grade, Distribution Channel, and By Country)
- Brazil (By Fat Content)
- Argentina (By Fat Content)
- Rest of South America (By Fat Content)
- The Middle East and Africa (By Type, Grade, Distribution Channel, and By Country)
- South Africa (By Fat Content)
- Turkey (By Fat Content)
- Rest of ME&A (By Fat Content)
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