Global Frozen Yogurt Market – Overview
Due to the large number of health benefits associated with frozen yogurt over the benefits of consumption of ice-creams, the market is growing at an incremental pace globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Frozen Yogurt Market Research Report – Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth rapidly during the forecast period.
Rising health awareness and increasing consumption of healthy desserts have prompted the growth of frozen yogurt in the daily diet of individuals. The sector is driven in a major way by the demand directed from consumers for low-fat desserts available in various flavors. Increasing disposable income across the regions is one of the contributing factors for the growth of this market. Growth of the functional foods – rich in probiotics – has also provided an impetus for the increased demand of this sector. Asia Pacific is identified to have great potential in the frozen yogurt market based on the high demand supported by urbanization in the region.
Increasing consumers’ awareness through advertisements have lately boosted up the sales of the product across the globe. Health conscious consumers are found to have more inclination towards frozen yogurt based on the health advantages obtained from it. Additionally, growing demand for diverse flavored yogurt with low calories is supporting the sales of frozen yogurt on a global level. Increasing awareness about the demerits of consumption of high-calorie desserts is also adding fuel to the rising sale of frozen yogurt.
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Latest Industry Updates
Oct 2017 TCBY, one of the famous names in the frozen yogurt market, launched three new flavors for the autumn. Through product promotions, the company is attracting attention towards their product line to increase their sale and generate revenues.
Nov 2017 Pinkberry launched its new pecan pie frozen yogurt. The product represents one of the company’s innovative ranges of frozen yogurt prepared with pecan pie frozen yogurt topped with cinnamon crumble. Rising demand for unique frozen yogurt would further support the sale of this product in the market.
July 2017 To create product differentiation and introduce unique products to the consumers, Pinkberry announced the launch of its newest limited time flavor- Black Raspberry. The product is also featured as a combination called Exotic Raspberry.
June 2017 General Mills which is one of the major brands in the frozen yogurt market announced the launch of its new fresh-style yogurt to strengthen their market position. This will help the company in extending their product line and creating product diffentiation.
Global Frozen Yogurt Market – Competitive Analysis
The competition among the players seems fierce with the growing demand for frozen yogurt across the globe. Players are found to indulge in various strategies to increase the sales of their product globally. Major strategies followed by the competitors are product promotions through various channels such as e-commerce as well as celebrity endorsements. Product innovations and fortification with essential nutrients are also identified to be the key strategies followed by the players to differentiate products.
The key players profiled in Frozen Yogurt are Menchie’s Frozen Yogurt (U.S.), Pinkberry (U.S.), General Mills, Inc. (U.S.), Amul (India), Yogurtland Franchising, Inc. (U.S.), TCBY (U.S.), Red Mango, Inc (U.S.), 16 Handles (U.S.), and Danone (France) among many others.
Global Frozen Yogurt Market – Segments
The global Frozen Yogurt market has been divided into type, functional, distribution channel and region.
On The Basis Of Type: Plain, and Flavored
On The Basis Of Functionality: Lactose-free, Low-fat, Low-calorie, Others
On The Basis Of Distribution Channel: Store based, and Non-store based
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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Global Frozen Yogurt Market – Regional Analysis
The global frozen yogurt market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global frozen yogurt market is highly dominated by North America due to high consumption and demand of the product. The consumption of frozen yogurt is found to be high in the U.S. and hence the market has strong potential in this region. Based on the increasing awareness about health advantages of frozen yogurt consumption, the market is also experiencing high growth in the Europe and APAC region. The use of frozen yogurt as healthy dessert is anticipated to grow at a high rate based on the functional and nutritive properties of the product.
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