The Global Frozen Yogurt Market size is expected to reach $13.8 billion by 2028, rising at a market growth of 5.0% CAGR during the forecast period.
A frozen treat known as frozen yogurt is created using yogurt and occasionally additional dairy and non-dairy ingredients. The same fundamental ingredients as ice cream are found in frozen yogurt, but it also includes live bacterial cultures. It differs from ice milk and traditional soft serve in that it is typically sourer than ice cream (though tanginess is partly due to the presence of lactic acid in the yogurt), in addition to being lower in fat (mainly because of the use of milk in place of cream).
Milk solids, a sweetener, milk fat, yogurt culture (often Streptococcus thermophilus and Lactobacillus bulgaricus), flavorings, and occasionally coloring make up frozen yogurt (natural or artificial). About 0.55 to 6% of yogurt is made up of milk fat, which gives yogurt its richness when added in amounts that are inversely linked to the number of milk solids. About 8–14% of the yogurt volume is made up of milk solids, which provide lactose for proteins and sweetness for creaminess and improved melting resistance.
15–17% of yogurt's contents are made up of sugar (beet or cane), which also adds sweetness and increases the number of solid ingredients, giving yogurt an improved body and texture. The yogurt is stabilized by gelatin and/or vegetable ingredients (guar gum, carrageenan), which lessen crystallization and raises its melting temperature. Due to this stabilization, the frozen yogurt will remain smooth despite handling or temperature changes. Both dairy and non-dairy products can be used to make frozen yogurt. It is a chilly meal that is frequently eaten as a dessert.
Additionally, frozen yogurt is also made from non-dairy foods like coconut and soy. Depending on the method of manufacturing, it may include sweeteners, flavors, color additives, stabilizers, preservatives, and emulsifiers. Yogurt contains various minerals, including protein, vitamin B-12, calcium, vitamin B-2, potassium, magnesium, and beneficial bacteria for the gastrointestinal tract. The most adaptable type of yogurt is plain or set yogurt, which has approximately 100 -160 calories per cup, depending on the amount of fat. The flavored frozen yogurt options range from plain vanilla with sugar to various fruit-flavored varieties.
Major players improved the composition of their frozen yogurt offerings by combining organic ingredients, attempting to make them cholesterol-free, and introducing vegan variants with no additional additives or preservatives. This also encouraged customers to search for immunity-boosting goods and other fortified products that would provide health benefits. Additionally, the COVID pandemic temporarily boosted the retail yogurt sector, which had been experiencing a modest decline in consumption due to the shutdown of specialty stores as a result of supermarket stockpiling and lockdown measures. In summary, the COVID-19 pandemic positively affected the frozen yogurt market.
The majority of people in developing countries like China, Brazil, and Turkey are consuming more frozen yogurt today because of the availability of numerous online selling channels. Additionally, people in other developing nations like Saudi Arabia, India, South Korea, and others are adopting frozen yogurt as a snack or consuming it after lunch or supper because they know its health benefits. Therefore, the huge impact of social media and online sales platforms is propelling the growth of the frozen yogurt market.
The emerging trend in the market is the blending of uncommon or distinctive flavors like the tart flavor. Since their release, tart-flavored frozen yogurt desserts have been incredibly popular because of their exceptional taste and minimal sugar content compared to regular yogurt. This is in accordance with the growing consumer demand for healthy foods. Due to all of these developments, customers favor frozen yogurt over other options like ice cream, aiding in the market's expansion in the coming years.
Yogurt product consumption is on the rise, which has also seen a growth in the number of fake and knockoff goods entering the market. Additionally, counterfeiting refers to false branding and the sale of unlicensed goods, which represents a significant issue for legitimate vendors of frozen yogurt. In poor nations with price-sensitive consumers, counterfeit brands are typically common. These subpar goods frequently cause annoyance and safety problems, which in turn cause customers to have bad impressions of them. Thus, it is projected that the growth of fake goods and stringent government regulations will hinder the growth of the market.
Based on nature, the frozen yogurt market is categorized into organic and conventional. The organic segment procured a considerable growth rate in the frozen yogurt market in 2021. An increase in consumer preference for organic food goods is responsible for the expansion of the segment. Consumers are more aware of the negative consequences that consuming synthetic chemicals has on their health today, as well as the food that they eat. This has increased market demand for flavored yogurt alternatives made from organic ingredients.
On the basis of flavor, the frozen yogurt market is divided into chocolate, mango, pineapple, strawberry, and others. The chocolate segment acquired the largest revenue share in the frozen yogurt market in 2021. The most popular taste worldwide among customers of all ages is chocolate, which is the most commonly utilized flavor. Due to its vibrant color, distinctive sweetness, and smooth texture, it has become the most popular flavor of yogurt among consumers and hence augments the segment's growth. Additionally, chocolate is known to contain antioxidants that provide numerous health benefits.
Based on distribution channel, the frozen yogurt market is segmented into supermarket/hypermarket, convenience stores, specialist retailers, online stores, and others. The specialty stores segment garnered a remarkable growth rate in the frozen yogurt market in 2021. One of the key sales channels for frozen yogurt is the area of specialty stores. The adoption of the self-serve model would increase this sector's expansion further. The majority of specialized store chains operated by major players use the self-serve business model. In recent years, numerous frozen yogurt specialty stores have also opened in emerging nations, owing to the increased demand.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 9.9 Billion |
| Market size forecast in 2028 | USD 13.8 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 5% from 2022 to 2028 |
| Number of Pages | 215 |
| Number of Table | 380 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Flavor, Nature, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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On the basis of region, the frozen yogurt market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured the highest revenue share in the frozen yogurt market in 2021. Factors supporting the expansion of the frozen yogurt market in Europe include the expansion of frozen yogurt product distribution channels and growing customer demand for natural and organic frozen yogurt. Additionally, the desire to maintain a healthy lifestyle and the increased awareness of this have increased customer indulgence in frozen yogurt goods in this region.
Free Valuable Insights: Global Frozen Yogurt Market size to reach USD 13.8 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lactalis Group, General Mills, Inc., Nestle S.A., Saputo, Inc., Britannia Industries Limited (Wadia group), Danone S.A. (Sofina Group), DuPont de Nemours, Inc., Arla Foods, Inc., Yakult Honsha Co., Ltd., and Menchie's Group, Inc.
By Flavor
By Nature
By Distribution Channel
By Geography
The global Frozen Yogurt Market size is expected to reach $13.8 billion by 2028.
Development of new flavors and service models are driving the market in coming years, however, Issues regarding labelling violations and availability of counterfeit products restraints the growth of the market.
Lactalis Group, General Mills, Inc., Nestle S.A., Saputo, Inc., Britannia Industries Limited (Wadia group), Danone S.A. (Sofina Group), DuPont de Nemours, Inc., Arla Foods, Inc., Yakult Honsha Co., Ltd., and Menchie's Group, Inc.
The expected CAGR of the Frozen Yogurt Market is 5.0% from 2022 to 2028.
The Conventional segment acquired maximum revenue share in the Global Frozen Yogurt Market by Nature in 2021 thereby, achieving a market value of $10.4 billion by 2028.
The Europe market dominated the Global Frozen Yogurt Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.7 billion by 2028.
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