Frozen Yogurt Market Size, Share & Industry Analysis, By Flavors (Chocolate, Mango, Banana, Pineapple, Strawberry, and Others), Fat Contents (Low fat (0.5%-2%) and No fat (<0.5%)), Distribution Channel (Specialty Stores, Online, Supermarket/Hypermarket, Retailers, and Others) and Regional Forecast, 2024 - 2032

The global frozen yogurt market size was USD 1.80 billion in 2023 and is projected to grow from USD 1.87 billion in 2024 to USD 2.46 billion by 2032, exhibiting a CAGR of 3.53% during the forecast period. North America dominated the frozen yogurt market with a market share of 28.43% in 2023. Moreover, the frozen yogurt market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 970.15 million by 2032, driven by the presence of top manufacturers and distributors in the region.

Frozen yogurt is mainly marketed as a prominent and healthier alternative for ice-creams and several desserts operated in the same business segments. It has exploded in terms of popularity over the last few years, owing to the increasing number of health-conscious consumers. Also, the introduction of a new range of flavors and superior services has spurred its demand. The popularity of yogurt is more in developed countries, as compared to developing countries. This is due to the rapid change in the lifestyle of urban consumers and the increasing importance of healthy foods. Several top players are focusing on expanding their chain stores in lower and medium-income countries to increase their footprint and revenue. The COVID pandemic had a short-term positive impact on the retail yogurt market as the market was fueled by the grocery stockpiling, while this market had witnessed a slight downward trend in consumption owing to the closure of specialty stores.

Frozen Yogurt Market Trends

Introduction of Self-serve Model is a Prominent Trend

The self-serve model is gaining momentum. The health movement has also made way for the self-serve frozen yogurt model. Self-serve outlets give customers complete autonomy over toppings, flavors, and quantity, thereby allowing them to choose and control their intake based on their dietary needs. The number of self-serve stores has increased drastically compared to the full-service stores in the last few years. According to the Global Frozen Yogurt Association, more than 2/3^rd of the total frozen yogurt stores are based on the self-serve model. In this model, the creations are charged by weights and not by toppings and flavors, which also motivate consumers to prefer this model.

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Frozen Yogurt Market Growth Factors

Introduction of Tart Flavors to Bolster Market Growth

The combination of unique or unusual flavors is the current trend, and it’s becoming extremely popular in the market. Tart-flavored desserts have gained immense popularity since their introduction on account of their superior taste and low sugar contents compared to conventional yogurt. The increasing demand, as well as consumption of tart-flavored desserts, is bolstering the frozen yogurt market growth across the globe. Manufacturers have been developing new tart-flavored products to meet the rising demand. For instance, in April 2023, Pinkberry, a tart frozen yogurt brand from the U.S., launched a new fresh white Peach tart frozen yogurt. The new product is topped with fresh blueberries, strawberries, and peach puree.

Increasing Demand for Healthy Food among Young Consumers to Aid Growth

A healthy diet has become a trend in recent years, especially among the young generation. Frozen yogurt consists of probiotics that boost the immune system and help with digestion. The product is also perceived as a guilt-free treat, which helps support healthy lifestyles. It also contains vitamins B1, B2, A, D, and B12. Owing to such benefits, consumers prefer frozen type of yogurt over other alternatives, such as ice cream. Top players, such as Red Mango, are planning to open new locations near college campuses, where the young generation tends to be more health-centric.

RESTRAINING FACTORS

Availability of Alternative Products and Entry of New Companies May Obstruct Growth

The market is facing a lot of competition in terms of alternative products, as well as the opening and entrance of new players in the market. Ice cream is still considered to be a major product worldwide. Most consumers give priority to taste over health. Moreover, the high sugar content in some frozen yogurts can have a negative impact on product sales, especially among health-conscious consumers.

Also, the increasing number of new players, especially in developed countries such as the U.S. and Canada, would create a threat to the existing and established major players.

Frozen Yogurt Market Segmentation Analysis

By Flavor Analysis

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Chocolate Flavor Segment to Account for Major Market Share

Based on flavor, the market is segmented into chocolate, mango, banana, strawberry, pineapple, and others. The chocolate flavor segment accounted for the major share owing to its increasing popularity, especially among kids and females. Chocolate is the oldest and evergreen flavor in the market. Due to the introduction of new ranges of flavors and products, the market share of this segment is witnessing steady growth. For instance, in January 2024, Enlightened, a Beyond Better Foods brand, launched an innovation in frozen yogurt, i.e., frozen yogurt bark. The new product is made with Greek yogurt and contains chocolate and frozen fruit.

The strawberry and mango segments have gained significant traction in recent years as consumers are becoming choosier and are willing to explore new varieties. Top players are constantly working towards introducing more and more unique flavors in the market, which resulted in the wide option range available for consumers.

By Fat Content Analysis

No-fat to Emerge as the Fastest-growing Variant across Developed Regions

Consumers in developed countries, such as the U.S., Canada, Germany, France, and others, are becoming more health-centric and are focusing on consuming minimum fat content foods. No-fat yogurts are the fastest-growing segment in these developed countries. At the same time, the low-fat yogurt segment remains dominant across the globe. Consumers in developing regions, such as Asia Pacific and South America, prefer low-fat frozen yogurt over zero-fat due to the price comparison and easy availability.

By Distribution Channel Analysis

Specialty Stores to be the Major Distribution Channel in the Forthcoming Years

The specialty stores segment is one of the prominent sales channels to sell frozen yogurt. The introduction of the self-serve model would boost the share of this segment in the yogurt market. Top players have their chains of specialty stores, and most of them are based on the self-serve model. The online stores/sales channel segment is the most rapidly growing distribution channel. Digitization across the globe and the increasing presence of retailers on online sales platforms would assist growth.

REGIONAL INSIGHTS

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North America dominated the market and gained the majority of the frozen yogurt market share. This is owing to the presence of top manufacturers, as well as distributors in this region. It is the most prominent region for the yogurt industry. Consumers are nowadays interested in healthier living – diet and exercise, in this region, which is assisting the demand for yogurt. Moreover, the self–serve model is becoming tremendously popular in countries such as the United States and Canada. The growing popularity of vegan diets in the region is also propelling manufacturers to launch plant-based yogurts to meet the demand. For instance, in January 2020, Yogurtland, one of the leaders in self-serve premium frozen yogurt, launched a 100% vegan, plant-based frozen yogurt, Salted Chocolate Souffle.

Europe is projected to hold the second-largest share in the market and remain the same throughout the forecast period. Several major countries of Europe, such as Germany, France, Italy, and Spain, are the major countries in terms of market share. Owing to the presence of a large urban population, which is focused on healthy and nutritious foods. Frozen type of yogurt fulfills this criterion due to which its demand is witnessing an upsurge in this region.

Asia Pacific is an emerging region in the market because of the changing standard of living, increasing disposable incomes, surging number of health-centric consumers, and the rising presence of top international players.

South American countries, such as Brazil and Argentina, are witnessing an upsurge in the consumption or sales of this type of yogurt, which is likely to contribute to the overall regional performance. The Middle East and Africa would observe steady growth in terms of the consumption of these products, which would further support the market growth.

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List of Key Companies in Frozen Yogurt Market

Renowned Companies Focus on Moving towards Adoption of Self-serve Model

The market is highly fragmented due to the presence of a significant number of established and regional players, especially in developed regions, such as North America and Europe. Companies such as Menchie's Frozen Yogurt, Pinkberry, Honey Hill Farms, and Red Mango Inc. are focusing on the expansion of their specialty stores in the Asia Pacific region, where the demand for frozen type of yogurt is increasing continuously.

LIST OF KEY COMPANIES PROFILED

• Danone (Paris, France)


• Pinkberry (California, U.S.)


• Honey Hill Farms (Russellville, U.S.)


• Scott Brothers Dairy (Chino U.S.)


• Red Mango Inc. (Texas, U.S.)


• Yogurtland Inc. (California, U.S.)


• Gujarat Cooperative Milk Marketing Federation (Gujarat, India)


• Nestle S.A. (Vevey, Switzerland)


• General Mills (Minnesota, U.S.)

KEY INDUSTRY DEVELOPMENTS

• August 2023: Unilever, a British multinational fast-moving consumer goods company, planned to expand its U.S.-based frozen yogurt brand Yasso in the U.K.


• March 2023: Halo Top, a better-for-you ice cream brand, launched new frozen yogurt pops made with yogurt, fruit, and granola in triple berry and strawberry.


• July 2021: Hi-Chew,  a Japanese fruit candy company, partnered with  Menchie’s Frozen Yogurt, one of North America's largest self-serve frozen yogurt franchises, to launch a new frozen yogurt flavor, HI-CHEW Raspberry.


• March 2021: Pinkberry is celebrating the start of Spring with a refreshing new flavor, Strawberry Lemonade. This tart swirl will be available in stores for a limited time until May 20.


• August 2020: Menchie's Frozen Yogurt unveiled two new vibrant flavors, namely, HI-CHEW Mango and HI-CHEW™ Passion Fruit, that can be enjoyed on their own or swirled together to create the mouth-watering flavor of HI-CHEW Tropical Smoothie.

REPORT COVERAGE

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The global frozen yogurt market research report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all possible segments in the market. Various key insights presented in the market research report are an overview of related markets, recent industry developments, such as mergers & acquisitions, the regulatory scenario in critical countries, and key industry trends.

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