The frozen yogurt market was valued at $10,407.8 million in 2021, and is projected to reach $17,114.1 million by 2031, registering a CAGR of 5.2% from 2022 to 2031.
The rising popularity of low-fat, low-sugar desserts will propel the frozen yoghurt market. Furthermore, rising demand for refreshing ice cream alternatives by children and rising consumer health awareness are some macroeconomic factors that are positively impacting the global frozen yogurt market. Numerous consumers are increasingly looking for cost-effective frozen sweet-based treats that provide medicinal benefits, taste good and provide a healthy eating experience. As a result of this shift in dessert consumption habits, sales of frozen yogurt have exploded all over the globe. Additionally, the presence of probiotics in frozen yogurts aids weight loss by balancing the friendly bacteria in the digestive system and creating a sweet tooth consumer base.
Milk and milk products commonly consist of a sugar called lactose which is digested by lactase enzyme in the human body. Lactase deficiency and lactose malabsorption can lead to a condition called lactose intolerance among people. The symptoms include bloating, diarrhea, and gas after consumption milk or milk products. As per the National Library of Medicine (NLM), around 65% of the global human population has a decreased ability to digest lactose after infancy. Thus, people suffering from lactose intolerance look for the dairy products with lower or no lactose content in yogurt. Probiotics-based yogurt consists of live active cultures, which aid in digestion of lactose and lower lactose content. Greek yogurt is mostly recommended for lactose intolerant people as it is strained multiple times for whey removal, giving it creamy taste and lower lactose content of 4 grams per 6-ounce container. Many players manufacture Greek yogurt including Yoplait, Dannon, Chobani, and Oikos. These factors indicate that the lower or no lactose content of yogurt promote the growth of the global frozen yogurt market.
Increasing demand for frozen yogurt specialty stores following the self-serve model offers growth opportunities to key players in the frozen yogurt market. The self-serve stores offer consumers complete autonomy to choose frozen yogurt flavors, quantity, and toppings. Consumers can choose which types of frozen yogurt to eat based on their dietary needs and taste preferences. Consumers are charged by the weight of their selection, which is the key factor in the rising popularity of the self-serve model. Several frozen yogurt manufacturers are opening their self-serve specialty stores to increase their customer base.
Retail industry includes companies and individuals involved in selling finished products and goods to end- users. Low unemployment rate and stable electricity prices in the U.S. have led to the growth of the U.S. retail market. Wide range of skim yogurt and related products are vended through various retail channels such as hypermarkets, supermarkets, convenience stores, discounters, forecourt retailers, and grocery stores. Internet retailing, discounters, and convenience stores are the fastest growing retailers in the yogurt industry. These stores act as a global marketing tool, which assist in building an impressive premium image and increase brand exposure of wide variety of skim yogurt products. Hence, retail market expansion is a significant factor driving the global skim yogurt market. Costco, Target Corporation, Walmart, and Menchie’s are some of the retailers present in the frozen yogurt industry.
Moreover, rise in consciousness regarding healthy lifestyle adoption and the preference for staying fit has raised consumer indulgence in skim yogurt products. Moreover, the increase in prevalence of chronic lifestyles diseases worldwide has further boosted the growth of the market. Furthermore, skim yogurt has nearly every nutrient needed by the human body, and is considered as an effective food for achieving flat abs and weight loss. It is rich in calcium, vitamins, and trace minerals such as phosphorus, magnesium, & potassium. Moreover, consumption of skim yogurt helps in enhancing immune system and protects the body from a variety of infections. frozen yogurt effectively fights against respiratory issues like common cold, flu & even cancer and gastrointestinal infections. Hence, diversified health benefits associated with skim yogurt further boost the market growth.
The frozen yogurt market has been segmented on the basis of nature, flavor, distribution channel, and region. By nature, the market is divided into organic and conventional. By flavor, the market is fragmented into mango, chocolate, strawberry, and others. By distribution channel, the market is categorized into hypermarket/supermarket, specialty stores, pharmacies, online sales channel, and others. By distribution channel, the market is classified into hypermarket/supermarket, specialty stores, convenience stores, online sales channel, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By nature, the conventional segment held major share in the market, and is projected to remain dominant during the forecast period. Conventional frozen yogurt is prepared from various flavors, fruits, sweeteners, thickeners, additives, and stabilizers. The major demand for conventional frozen yogurt is from the commercial segment owing to the bulk requirement at lower prices.
By flavor, the chocolate segment held the major share in the market in 2021. Chocolate flavor is the most widely used and hence it is the most preferred flavor among consumers of all age groups globally. Strawberry segment witnessed major growth rate during the forecast period. It has been the most preferred choice of flavored yogurt among consumer due to fresh color, characteristic sweet taste, and smooth texture.
By distribution channel, the hypermarket/supermarket accounted for the highest market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Frozen flavor yogurt is widely purchased by the consumers through hypermarket/supermarket in bulk volumes. With the shift toward the need for different types of yogurt that are rich in flavor, the hypermarket/supermarket makes available the yogurt which is manufactured in different countries. With the development of town to cities and cities to hyper cities, the trend of hypermarket/supermarkets is increasing. Thus, frozen yogurt manufacturers have larger opportunities to sell their products and meet the demand of the consumers due to large population visiting the supermarket.
By region, Europe held the major share in the market in 2021. Increase in frozen yogurt product distribution chains and broadening consumer demand for organic frozen yogurt are some additional factors supplementing the growth of the Europe frozen yogurt market. Moreover, increase in consciousness regarding healthy lifestyle adoption and the preference to stay fit has raised consumer indulgence in frozen yogurt products in this region.
Companies operating in the North American frozen yogurt market are innovating new products to sustain in the competitive market. They launch new products to expand their business operations across different countries in this region and increase their customer base. High spending capabilities of individuals due to increased disposable income, and economic stability are some of the major driving factors for the growth of the North America frozen yogurt market. In addition, change in lifestyle of individuals also contributes to the increased sales of frozen yogurt in North America.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Chr. Hansen Holding, Yakult Honsha Co., Ltd, Nestlé, DuPont, MORINAGA & CO., LTD, BioGaia AB, Protexin, Arla food Amba, Britannia Industries LTD, Chobani LLC, Danone, General Mills, Lactalis Corporation, Saputo INC, and Gujarat Cooperative Milk Marketing.
The rising popularity of low-fat, low-sugar desserts will propel the frozen yoghurt market. Furthermore, rising demand for refreshing ice cream alternatives by children and rising consumer health awareness are some macroeconomic factors that are positively impacting the global frozen yogurt market. Numerous consumers are increasingly looking for cost-effective frozen sweet-based treats that provide medicinal benefits, taste good and provide a healthy eating experience. As a result of this shift in dessert consumption habits, sales of frozen yogurt have exploded all over the globe. Additionally, the presence of probiotics in frozen yogurts aids weight loss by balancing the friendly bacteria in the digestive system and creating a sweet tooth consumer base.
Milk and milk products commonly consist of a sugar called lactose which is digested by lactase enzyme in the human body. Lactase deficiency and lactose malabsorption can lead to a condition called lactose intolerance among people. The symptoms include bloating, diarrhea, and gas after consumption milk or milk products. As per the National Library of Medicine (NLM), around 65% of the global human population has a decreased ability to digest lactose after infancy. Thus, people suffering from lactose intolerance look for the dairy products with lower or no lactose content in yogurt. Probiotics-based yogurt consists of live active cultures, which aid in digestion of lactose and lower lactose content. Greek yogurt is mostly recommended for lactose intolerant people as it is strained multiple times for whey removal, giving it creamy taste and lower lactose content of 4 grams per 6-ounce container. Many players manufacture Greek yogurt including Yoplait, Dannon, Chobani, and Oikos. These factors indicate that the lower or no lactose content of yogurt promote the growth of the global frozen yogurt market.
Increasing demand for frozen yogurt specialty stores following the self-serve model offers growth opportunities to key players in the frozen yogurt market. The self-serve stores offer consumers complete autonomy to choose frozen yogurt flavors, quantity, and toppings. Consumers can choose which types of frozen yogurt to eat based on their dietary needs and taste preferences. Consumers are charged by the weight of their selection, which is the key factor in the rising popularity of the self-serve model. Several frozen yogurt manufacturers are opening their self-serve specialty stores to increase their customer base.
Retail industry includes companies and individuals involved in selling finished products and goods to end- users. Low unemployment rate and stable electricity prices in the U.S. have led to the growth of the U.S. retail market. Wide range of skim yogurt and related products are vended through various retail channels such as hypermarkets, supermarkets, convenience stores, discounters, forecourt retailers, and grocery stores. Internet retailing, discounters, and convenience stores are the fastest growing retailers in the yogurt industry. These stores act as a global marketing tool, which assist in building an impressive premium image and increase brand exposure of wide variety of skim yogurt products. Hence, retail market expansion is a significant factor driving the global skim yogurt market. Costco, Target Corporation, Walmart, and Menchie’s are some of the retailers present in the frozen yogurt industry.
Moreover, rise in consciousness regarding healthy lifestyle adoption and the preference for staying fit has raised consumer indulgence in skim yogurt products. Moreover, the increase in prevalence of chronic lifestyles diseases worldwide has further boosted the growth of the market. Furthermore, skim yogurt has nearly every nutrient needed by the human body, and is considered as an effective food for achieving flat abs and weight loss. It is rich in calcium, vitamins, and trace minerals such as phosphorus, magnesium, & potassium. Moreover, consumption of skim yogurt helps in enhancing immune system and protects the body from a variety of infections. frozen yogurt effectively fights against respiratory issues like common cold, flu & even cancer and gastrointestinal infections. Hence, diversified health benefits associated with skim yogurt further boost the market growth.
The frozen yogurt market has been segmented on the basis of nature, flavor, distribution channel, and region. By nature, the market is divided into organic and conventional. By flavor, the market is fragmented into mango, chocolate, strawberry, and others. By distribution channel, the market is categorized into hypermarket/supermarket, specialty stores, pharmacies, online sales channel, and others. By distribution channel, the market is classified into hypermarket/supermarket, specialty stores, convenience stores, online sales channel, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By nature, the conventional segment held major share in the market, and is projected to remain dominant during the forecast period. Conventional frozen yogurt is prepared from various flavors, fruits, sweeteners, thickeners, additives, and stabilizers. The major demand for conventional frozen yogurt is from the commercial segment owing to the bulk requirement at lower prices.
By flavor, the chocolate segment held the major share in the market in 2021. Chocolate flavor is the most widely used and hence it is the most preferred flavor among consumers of all age groups globally. Strawberry segment witnessed major growth rate during the forecast period. It has been the most preferred choice of flavored yogurt among consumer due to fresh color, characteristic sweet taste, and smooth texture.
By distribution channel, the hypermarket/supermarket accounted for the highest market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Frozen flavor yogurt is widely purchased by the consumers through hypermarket/supermarket in bulk volumes. With the shift toward the need for different types of yogurt that are rich in flavor, the hypermarket/supermarket makes available the yogurt which is manufactured in different countries. With the development of town to cities and cities to hyper cities, the trend of hypermarket/supermarkets is increasing. Thus, frozen yogurt manufacturers have larger opportunities to sell their products and meet the demand of the consumers due to large population visiting the supermarket.
By region, Europe held the major share in the market in 2021. Increase in frozen yogurt product distribution chains and broadening consumer demand for organic frozen yogurt are some additional factors supplementing the growth of the Europe frozen yogurt market. Moreover, increase in consciousness regarding healthy lifestyle adoption and the preference to stay fit has raised consumer indulgence in frozen yogurt products in this region.
Companies operating in the North American frozen yogurt market are innovating new products to sustain in the competitive market. They launch new products to expand their business operations across different countries in this region and increase their customer base. High spending capabilities of individuals due to increased disposable income, and economic stability are some of the major driving factors for the growth of the North America frozen yogurt market. In addition, change in lifestyle of individuals also contributes to the increased sales of frozen yogurt in North America.
Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Chr. Hansen Holding, Yakult Honsha Co., Ltd, Nestlé, DuPont, MORINAGA & CO., LTD, BioGaia AB, Protexin, Arla food Amba, Britannia Industries LTD, Chobani LLC, Danone, General Mills, Lactalis Corporation, Saputo INC, and Gujarat Cooperative Milk Marketing.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the frozen yogurt market analysis from 2021 to 2031 to identify the prevailing frozen yogurt market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the frozen yogurt market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global frozen yogurt market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Nature
- Organic
- Conventional
By Flavor
- Chocolate
- Mango
- Pineapple
- Strawberry
- Others
By Distribution Channel
- Supermarket and Hypermarket
- Convenience Stores
- Specialist retailers
- Online stores
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Belgium
- Russia
- Netherlands
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- Chile
- Turkey
- South Africa
- Rest of LAMEA
Key Market Players
- Yakult Honsha Co., Ltd.
- Menchie's Group, Inc.
- Nestle S.A.
- DuPont
- MorinagaCo., Ltd.
- Yogen Fruz Canada Inc.
- Arla Foods amba
- Chobani Global Holdings, LLC
- Danone Inc.
- General Mills, Inc.
- Lactalis Group
- Saputo Inc.
- Gujarat Cooperative Milk Marketing Federation Ltd.
- Britannia Industries Limited
- Yogurtland Franchising, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FROZEN YOGURT MARKET, BY NATURE
CHAPTER 5: FROZEN YOGURT MARKET, BY FLAVOR
CHAPTER 6: FROZEN YOGURT MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: FROZEN YOGURT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Frozen Yogurt Market," the frozen yogurt market was valued at $10.4 billion in 2021, and is estimated to reach $17.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.Frozen yogurt is a low calorie, and digestive food products made from whole, low fat, or skimmed milk. This product is also manufactured in the form of non-dairy delicacies under the name of coconut yogurt and soy yogurt. It may consist of fermenting bacterial cultures, sweeteners, flavors, color additives, stabilizers, emulsifiers, and preservatives depending upon the way of production.
Rapid growth of the fast food industry due to the fast moving life of consumers in the developed and developing countries has driven thefrozen yogurt market. The easy accessibility to fast food results in the increase in demand for fast food. Moreover, big food chains as well as small vendors are trying to reach out to a large number of people and their shops are popping up like mushrooms everywhere. For instance, in 2019, Subway had approximately 41,600 stores worldwide, similarly McDonald, Starbucks, KFC, Pizza Hut, Restaurant Brands International, and Dunkin Donut had 37,855, 30,000, 23,000, 18,515, 25,809, and 9,200 worldwide stores, respectively. North America has large number of fast food chains owing to per expenditure on fast food products.
According to a consumer perception survey undertaken in six diverse countries of Brazil, China, France, Poland, Turkey and the U.S., majority of citizens in developing nations such as Brazil, China, and Turkey are reported eating more skim yogurt today than they did three years back. Similarly, people who live in other emerging countries such as India, South Korea, Saudi Arabia, and others are aware of the health benefits of frozen yogurt and adopting it as snack or eat it after having lunch or dinner. The graph below also explains that European population has higher per person consumption and hence developing nations will lead the market growth. These factors indicate the increase in demand for yogurt in developing nations during analysis period and represent great opportunity for the market expansion.
Moreocer, The number of social media users have increased considerably with the rise in internet penetration. Taking this into consideration stakeholders of skim yogurt are indulged in the creation of awareness regarding frozen yogurt products and its features by using social media channels such as Instagram, Facebook, and others. Moreover, social media is one of the strategies adopted by the various manufactures on imparting awareness about their product offerings among target customers on social media channels. Thus, through social media awareness strategy, the global skim yogurt sights critical opportunity in gaining traction and increasing its customer reach among its target segments.
The frozen yogurt industry has been segmented based on nature, flavor, and distribution channel and region. Based on nature, the market is divided into organic and conventional. Based on the flavor, the market is segmented into mango, chocolate, strawberry, and others. By distribution channel, the market is divided into hypermarket/supermarket, specialty stores, pharmacies, online sales channel, and others. By distribution channel the market is divided into hypermarket/supermarket, specialty stores, convenience stores, online sales channel, and others.
- By nature, the conventional segment held major share in the market, and is projected to remain dominant during the forecast period. Conventional frozen yogurt is prepared from various flavors, fruits, sweeteners, thickeners, additives, and stabilizers. The major demand for conventional frozen yogurt is from the commercial segment owing to the bulk requirement at lower prices.
- By flavor, the chocolate segment held the major share in the market in 2021. Chocolate flavor is the most widely used and hence it is the most preferred flavor among consumers of all age groups globally. Strawberry segment witnessed major growth rate during the forecast period. It has been the most preferred choice of flavored yogurt among consumer due to fresh color, characteristic sweet taste, and smooth texture.
- By distribution channel, the hypermarket/supermarket accounted for the highest market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Frozen flavor yogurt is widely purchased by the consumers through hypermarket/supermarket in bulk volumes. With the shift toward the need for different types of yogurt that are rich in flavor, the hypermarket/supermarket makes available the yogurt which is manufactured in different countries. With the development of town to cities and cities to hyper cities, the trend of hypermarket/supermarkets is increasing. Thus, frozen yogurt manufacturers have larger opportunities to sell their products and meet the demand of the consumers due to large population visiting the supermarket.
- By region, Europe held the major share in the market in 2021. Increase in frozen yogurt product distribution chains and broadening consumer demand for organic frozen yogurt are some additional factors supplementing the growth of the Europe frozen yogurt market. Moreover, increase in consciousness regarding healthy lifestyle adoption and the preference to stay fit has raised consumer indulgence in frozen yogurt products in this region.
- Companies operating in the North American frozen yogurt market are innovating new products to sustain in the competitive market. They launch new products to expand their business operations across different countries in this region and increase their customer base. High spending capabilities of individuals due to increased disposable income, and economic stability are some of the major driving factors for the growth of the North America frozen yogurt market. In addition, change in lifestyle of individuals also contributes to the increased sales of frozen yogurt in North America.
- Major companies have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Chr. Hansen Holding, Yakult Honsha Co., Ltd, Nestlé, DuPont, MORINAGA & CO., LTD, BioGaia AB, Protexin, Arla food Amba, Britannia Industries LTD, Chobani LLC, Danone, General Mills, Lactalis Corporation, Saputo INC, and Gujarat Cooperative Milk Marketing.
Key Findings of the Study
- By nature, the organic segment is estimated to witness significant growth, registering a CAGR of 5.9% during the forecast period.
- By flavor, the Mango segment is anticipated to grow at a CAGR of 5.6% during the forecast period.
- By distribution channel, the online stores segment is estimated to witness significant growth, registering a CAGR of 5.7% during the forecast period.
- By region, Asia-Pacific was the dominant region in 2021, occupying major share of the frozen yogurt market.
Companies Mentioned
- Yakult Honsha Co., Ltd.
- Menchie's Group, Inc.
- Nestle S.A.
- DuPont
- MorinagaCo., Ltd.
- Yogen Fruz Canada Inc.
- Arla Foods amba
- Chobani Global Holdings, LLC
- Danone Inc.
- General Mills, Inc.
- Lactalis Group
- Saputo Inc.
- Gujarat Cooperative Milk Marketing Federation Ltd.
- Britannia Industries Limited
- Yogurtland Franchising, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 299 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 10407.8 million |
| Forecasted Market Value ( USD | $ 17114.1 million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
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