The increasing sale of frozen yogurt is driven by the changing consumer’s food consumption preference and economic development. The innovation in flavors has raised the consumption of frozen yogurt amongst various regions. The sale of healthy sugar-free, low fat Frozen Yogurt is high amongst the population of health conscious people. High focus on research and development is the major reason for the increasing demands of frozen yogurt. U.S. is one of the major markets for frozen yogurt and holds a lion’s share. The specialty food-type segment of frozen yogurt is also evaluated to increase at a high growth rate.
Globally the frozen yogurt market share as a frozen-dairy product is estimated to escalate at a higher growth rate which is supported by the rising consumption of low-calorie, natural and healthy products in the developed countries. The developing economic conditions of various regions are fueling up the market demand for frozen yogurts. Innovations in flavor and developing technologies has led to the development of high probiotic containing frozen yogurts which is steadily gaining its popularity.
All these factors contribute to the calculated CAGR of 14.5% of frozen yogurt market during 2016-2022.
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The Major Key Players in Frozen Yogurt Market are
- General Mills, Inc. (U.S.)
- Amul (India)
- Yogurtland Franchising, Inc. (U.S.)
- Menchie’s Frozen Yogurt (U.S.)
- Pinkberry (U.S.)
- TCBY (U.S.)
- Red Mango, Inc (U.S.)
- 16 Handles (U.S.)
- Danone (France)
Established players from North America and Europe are following strategies innovations in their-product line to expand their business in other regions due to increasing demand of frozen yogurt. They are mainly focused on increasing their supply to developed regions where the demand of product is raising. In the Europe region, Spain and Italy are amongst the dominating countries holding a major share in frozen yogurt market and exports the product in various other countries of Europe which include Netherlands, France, U.K. and others.
Consumption of low-fat frozen yogurt is increasing at a steady rate. Amongst the various flavors available in the frozen yogurt, the strawberry and plain frozen yogurt is found to hold a lion’s share. The popularity of unconventional specialty type frozen yogurt is also increasing steadily which has increased the sale of healthy frozen yogurt. People are more inclined towards consumption of frozen yogurt with high nutritional value. New innovations and high focus on R&D is supporting the growth of the segments globally.
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The Global Frozen Yogurt Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North America region has the major market share followed by Europe. U.S. is found to be concentrated with the established key players in the frozen yogurt market. Raising consumption of frozen desserts imparting high health benefits is supporting the growth of the market in developed countries of North America and Europe region. U.K., Italy, Spain, Portugal and Belgium are the major importers of frozen yogurt.
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