The Frozen Yogurt Market is projected to grow at a significant rate of 5.33% from 2022 to 2030 to reach a market value of USD 10.25 billion by the end of 2030.Consumers are increasing their demand for low-calorie and high-protein desserts that are healthy and hence, the frozen yogurt market will undergo a good demand during the marker forecast period. Also, low-fat products are increasing in popularity. The market is witnessing the introduction of healthy variants that also offer a variety of flavors that will help in catering to the demand of a larger audience. Consumers have numerous options in terms of healthy yogurt options.
Covid 19 Analysis
The coronavirus pandemic has given a very hard time to most of the manufacturing, developing, production, and logistic units of the market. Due to this pandemic situation, restrictions were imposed by the government of different countries. People have altered their requirements especially related to the kind of intake which they are opting for. The food and beverage industry has been impacted drastically which in turn has lowered the sales of frozen yogurt market.
For the same, the government is increasing their investment scale for research and development of flavors that are targeting the potential audience across various global locations. Also, the key market players are coming up with strategies that have a lot of positive attributes that will help the frozen yogurt market expand during the forecast period.
The industry report for the frozen yogurt stores shows the rising demand and trends of various packaging. The amount of consumption is largely dependent on age and gender. The IBISWorld research shows that consumers whose age lies between 18 to 35 years, tend to buy more frozen yogurt. Generally, females dominant the demand in comparison to males. This accounts for 41.8 of the worldwide sales. This will impact the futuristic scope of the frozen yogurt market and help it grow as per the expected CAGR rate during the forecast period.
The increasing concerns regarding the presence of high sugar and fat content in frozen yogurt is a major factor that may hamper the growth of this market. As it is a well-known fact that the consumption of foods having high sugar content in them can make a consumer open to various health diseases. Also, the rising number of substitutes for frozen yogurt market is another factor that may act as a barrier to the growth of this market. Consumers will prefer a product that will have good taste and low content of sugar and fat present in it at the same time. So, this factor may restrain the sales of frozen yogurt.
Most of the consumers that are spread across various global locations are impressed with the conveniently available frozen dessert-based snacks that are known to possess various kinds of health benefits. Also, their taste is excellent and hence, can act as an excellent snacking substitute. Also, there is a change in the behavior of ice cream consumption of the target audience which is pushing for a huge demand amongst the audience of the globe. The majority of consumers belong to the US audience and are acting as meal replacements for people who used to have a liking for ice creams. Also, the hectic lifestyle of people that is coupling with the rising awareness related to the health and wellness of people are driving for global changes.
Owing to the frozen yogurt market trends, it is important to have a deep analysis of the functionality of the market segments in various global regions. Also, the segment overview helps in understanding the revenue potential of the overall market and further, this will make the investors make better decisions during the forecast period that will end in 2030. The segments are as follows:
The global market under the product type segment deals in the dairy-based frozen yogurt, alongside the non-dairy-based frozen yogurt.
The global frozen yogurt market players make use of various distribution channels to make the products available to the market end-users like supermarkets and hypermarkets, online retailers, convenience stores, amongst others. Making use of different verticals, the target is to enhance the product availability and cater to the demand of the target consumers.
The frozen yogurt market is functional in major regions like Europe, the North American regions, the APAC region, Latin America, alongside the Middle East and African continents and catering to the demand of the audience located in these regions during the forecast period.
The North American market is expected to dominate the global frozen yogurt market during the forecast period. The US market is expected to hold a significant share during the period as the frozen yogurt market trends are witnessing a gradual shift in consumer preference from dairy products to frozen yogurt during the period. Also, there is a decline in non-dairy-based products during the period. The demand is high amongst the people belonging to the high-income consumers. The manufacturers producing frozen yogurt in the market are targeting consumer insights and capabilities that can compete with the developed competencies. This is likely to attract a large consumer base amongst the other innovative products and portfolio developments. The APAC region is adding on to the exceptional flavor experience and hence, is likely to experience good growth amongst the global market growth.
The report aims to analyze the competition that is prevailing in the frozen yogurt market and hence, have an idea about their key strategies for growth during the forecast period. The players are investing in the research and development strategies that will help in coming up with innovative and creative product development and launch strategies. The players are as follows:
Statistic Brain conducted a survey whose results show that nearly 80% of the American population have more fondness towards frozen yogurt in comparison to the high-end ice-cream brands. Also, they prefer other frozen treats which in turn, staggers an excellent demand for the products offered by the key market players in this region during the forecast period.
The major players belonging to the APAC region are focusing on the development of strategies that have long-term effects and are backed with steps related to product innovation and flavor discovery. This step is a result of the fact that the frozen yogurt market is shifting towards a developing demand for new yogurt flavors.
The North American population is increasing their knowledge about the health benefits of consuming different products. They have a hectic lifestyle and there is an urgent need for change. Also, they are quite aware of the goodness of probiotics that are a part of frozen yogurt. Probiotics are reliable when it comes to resolving health issues like digestion. Also, its connection with slimming and beauty is likely to develop a good demand for the frozen yogurt market and its target audience during the forecast period. Also, these are gaining huge momentum as meal replacements for people who are cutting down on calorie-intake to reduce weight in the domestic region.
The manufacturers that are functioning in the European market are coming up with innovative steps that are a result of the constant engagement of the companies in extensive activities for research and development. The availability of safer and natural products and their dominance while competing with synthetic products will help the market a significant growth by the end of the forecast period.
|Market Size||USD 10.25 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Category, Product Type, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||16 Handles (US),L.L.C. (US),Unilever (UK),Wells Enterprises (US),General Milld Inc (US),TCBY (US)|
|Key Market Opportunities||act as an excellent snacking substitute|
|Key Market Drivers||increase in demand for low-calorie and high-protein desserts|
Frozen yogurt market is projected to grow at a 5.33% CAGR between 2022-2030.
North America is expected to dominate the frozen yogurt market.
Frozen yogurt market is predicted to touch USD 10.25 billion by 2030.
Different types of frozen yogurt include low-fat, fat-free, and full-fat.
Increasing health awareness and easy availability in different flavors are the key factors driving the frozen yogurt market.