Frozen yogurt is a milk-based product which is consumed as a dessert. It is made from locally sourced milk, yogurt cultures, and sugar, which is an excellent source of protein. Being a milk-based product, frozen yogurt is considered to have a lower fat level and healthier than the cream. Yogurt is rich in proteins and calcium, and its consumption assures health benefits such as boosting the immune system and combating diarrhea and constipation among others.
Owing to its health benefits, creamy texture, and sweet and sour taste frozen yogurt is gaining wide recognition and popularity, worldwide. The huge popularity leads to the extensive consumption of frozen yogurt which further results in constant increment in the size of its market, creating a massive demand.
Moreover, the growing inclination of consumers towards healthy food products escalates the market on the global level. Considering the enormous growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global frozen yogurt market is anticipated to post a healthy CAGR during the forecast period (2018 – 2023).
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Using grass-fed milk in the formulation of this yogurt to enhance the natural flavor is the latest trend in the market. The grass-fed milk is considered as a source of Omega-3 fatty acids with potent anti-inflammatory properties. This, as a result, increases the demand, consumption, and sales in the frozen yogurt market, adding health benefits to it.
The changing eating habits of consumers and increasing per capita disposable income are two major driving forces behind the growth of the market. Moreover, factors such as the availability of various favors and spreading awareness of its health benefits are driving the frozen yogurt market. Besides, factors such as the increasing consumer demand led by the changing perception of customers are heavily influencing the growth in the global frozen yogurt market.
Conversely, factors such as the health concerns associated with lactose intolerance and fat content in the yogurt are expected to impede the growth of this market. Also, the cost of frozen yogurt is slightly towards the higher side, which may pose challenges to market growth. On the other hand, factors such as the introduction of low-fat yogurt and innovations shall help in the development of this market.
Key players leading the global frozen yogurt market include Pinkberry (US), Menchie's Frozen Yogurt (US), General Mills, Inc. (US), Yogurtland Franchising, Inc. (US), Amul (India), TCBY (US), 16 Handles (US), Red Mango, Inc. (US), and Danone (France) among others.
Global Frozen Yogurt Market – Segments
For ease of understanding, the analysis has been segmented into four key dynamics:
By Type : Plain and Flavored
By Functionality : Lactose-free, Low-fat, and Low-calorie among others.
By Distribution Channel : Store-based and Non-store Based.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Frozen Yogurt Market – Geographical Analysis
North America, heading with the presence of a large number of manufacturers is expected to retain its dominance over the global frozen yogurt market throughout the forecast period.
Moreover, factors such as the rising demand for convenience food, nutrition, and taste alongside the increasing consumer demand for different flavors such are driving the frozen yogurt market in the region. Additionally, the availability of advanced production techniques is boosting the growth of the regional market, resulting in a larger production of frozen yogurt.
The frozen yogurt market in the European region accounts for another lucrative market, globally. Factors such as well-spread health awareness and shifting food preference in the region are driving the growth of the regional market. Also, trends such the increasing inclination towards the convenience foods are fostering the growth of the frozen yogurt market in the region.
Additionally, the rapid increase in the per capita disposable income and consumer demand for frozen yogurts in France, Germany, and the UK are some of the factors positively impacting market growth in the region.
The Asia Pacific frozen yogurt market is rapidly emerging as a profitable market, globally. The APAC is a huge region with the fastest growing markets in countries such as India, China, and Japan which, in turn, is expected to register considerable growth in the regional frozen yogurt market. The ever-increasing population in India and China coupled with a healthy economic outlook creates a significant opportunity for the growth of the frozen yogurt market in the Asia Pacific region.
Global Frozen Yogurt Market – Competitive Analysis
Highly competitive, the Frozen Yogurt Market appears fragmented with the presence of many small and big-scale players. They compete based on price, quality, innovation, reputation, and distribution. Strategic initiatives such as innovation, mergers & acquisitions, and brand reinforcement remain key trends for leading players.
These strategic initiatives help to improve their product portfolio and increase production capacity meeting the rapidly growing demand, particularly in the emerging regions. Manufacturers of frozen yogurt are focused on innovations in the flavors which is identified as a key trend.
April 03, 2019---- DŌ, Cookie Dough Confections (the US), one of the largest chains of cookie dough bakery announced its collaboration with 16 Handles (the US), a frozen yogurt company to add something as special as frozen yogurt flavors to its portfolio.
DŌ, Cookie Dough Confections’ new topping, vegan peanut butter snickerdoodle cookie dough complements to 16 Handles’ flavors like nutty banana bread soft serve. This collaboration will help both companies to upgrade their toppings bar and their overall portfolio.