Frozen Yogurt Market to Reach US$ 3 Bn by 2032 - Comprehensive Research Report by Future Market Insights, Inc.
North America's frozen yogurt market is expected to grow at a healthy rate of 4 throughout the next decade, with East Asia emerging as one such geographically significant region
NEWARK, Del., June 16, 2022 /PRNewswire/ -- The frozen yogurt market is predicted to account for US$ 3 billion in 2032, up from US$ 2.1 billion in 2022, advancing at a CAGR of 3.7% during the forecast period (2022-2032).
The significant rise in the number of consumers is looking for unusual, new, or unique flavor combinations to satisfy their taste buds. As a result, several frozen yogurt manufacturers are conducting research and development activities to create innovative flavors to add to their existing portfolios.
Demand for frozen yogurt experienced a huge surge, as it is considered a healthier alternative to ice cream. Currently, frozen yogurt market players are attempting to improve their product offerings by including organic components, making them cholesterol-free, and creating vegan frozen yogurts with no added preservatives or additives.
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The United States has a substantial frozen yogurt market share. In North America, consumer preferences are evolving away from dairy-based frozen yogurt and toward non-dairy-based frozen yogurt. People in France are looking for desserts that are both healthy and nutritious, and probiotic frozen yogurts fit the bill perfectly, as they are good for one's overall health.
The current frozen yogurt market trend is to combine distinctive or odd flavors, and it's gaining a lot of traction in the market. Since its introduction, low sugar and low-fat frozen yogurt have grown in popularity due to its superior taste and minimal sugar content when compared to traditional yogurt.
However, the frozen yogurt market is facing significant rivalry in terms of alternative products, as well as the emergence and entry of new businesses, impeding market growth.
Key Takeaways from Market Study
- The global frozen yogurt market size is worth USD 2.1 Bn in 2022.
- The global frozen yogurt market share is expected to reach US$ 3 Bn through 2032, with the CAGR of 3.7% through 2032.
- Based on flavor, chocolate flavor is anticipated to account for around 50% of the frozen yogurt market share over the forecast period.
- The North America frozen yogurt market is expected to witness a lucrative growth rate of 4.0% during the forecast period.
- During the projected period, online sales of frozen yogurt will continue to be more profitable than offline sales.
- East Asia is expected to emerge as a prominent market for frozen yogurt in the forecast period.
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"Surging adoption of healthy eating habits among consumers to replace ice creams with frozen yogurt in the near future," says a Future Market Insights analyst.
Competitive Landscape
Some of the major key players in the frozen yogurt market, such as Red Mango, Menchie's Frozen Yogurt, Pinkberry, Frosty Boy, Honey Hills Farms, Scott Brothers Dairy, Yougurtland, I Can't Believe It's Yogurt and Orange Leaf Frozen Yogurt,
Top players in the frozen yogurt market are focusing on long-term business strategies, such as flavor and product innovation, to cater to the shifting demand of consumers towards new flavors, along with inorganic strategies like mergers and acquisitions:
- Pinkberry introduced a new refreshing flavor, Strawberry Lemonade, to celebrate the beginning of spring. They also offer their customers the option of adding sweetness and toppings of pineapple and fresh strawberries.
- sweetFrog launched their Unicorn Swirl in 2021, a novel combination of pink fat-free frozen yogurt and strawberries, pastel blue fat-free cotton candy yogurt topped with rainbow sour belt and unicorn sprinkles. It was aimed towards providing a magical whirlpool straight from fairy tales.
Frozen Yogurt Market By Category
By Product Type, Frozen Yogurt Market is Segmented as:
- Dairy Based
- Non-Dairy Based
By Fat Content, Frozen Yogurt Market is Segmented as:
- Full Fat
- Low Fat
- No Fat
By Flavor, Frozen Yogurt Market is segmented as:
- Chocolate
- Strawberry
- Banana
- Pineapple
- Mango
- Lemonade
- Peach
- Other Flavors
By Sales Channel, Frozen Yogurt Market is segmented as:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
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Table of Content
1. Market Overview
1.1. Market Coverage / Taxonomy
1.2. Market Definition / Scope / Limitations
2. The Massive Impact of the Crisis
2.1. Global Frozen Yogurt Market Forecast Scenario Comparison of Annual Growth Rates for Short Term (2022-2025) and Long Term (2026-2032)
2.1.1. Optimistic Scenario
2.1.1.1. China
2.1.1.2. US
2.1.1.3. India
2.1.1.4. Euro Zone
2.1.1.5. Asia Pacific
2.1.1.6. Rest of the World
2.1.2. Likely Scenario
2.1.2.1. China
2.1.2.2. US
2.1.2.3. India
2.1.2.4. Euro Zone
2.1.2.5. Asia Pacific
2.1.2.6. Rest of the World
2.1.3. Pessimistic Scenario
2.1.3.1. China
2.1.3.2. US
2.1.3.3. India
2.1.3.4. Euro Zone
2.1.3.5. Asia Pacific
2.1.3.6. Rest of the World
2.2. Key Factors Impacting the Market
2.3. Note: Market Assessment shall be Provided for Likely Scenario
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global frozen yogurt market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (dairy based and non-dairy based), fat content (full fat, low fat and no fat), flavor (chocolate, strawberry, banana, pineapple, mango, lemonade, peach and other flavors), sales channel (offline sales channel (supermarkets/hypermarkets, departmental stores, convenience store and other sales channel) and online sales channel (company website and e-commerce platform)), across seven major regions of the world.
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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