Frozen Yogurt Market - Growth, Industry Trends, COVID-19 Impact Analysis, Regional and Country-wise Forecasts (2021 - 2026)

Frozen Yogurt Market is Segmented by Type (Dairy-based and Non Dairy-based frozen yogurt); by Distribution Channels (Supermarket/Hypermarkets, Convenience Stores, Online Retailers, and Others); and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and forecasts in value (USD million) for the above segments. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Market Snapshot

frozen yogurt market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 3.4 %

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Market Overview

The global frozen yogurt market is growing at a CAGR of 3.4% during the forecast period (2021- 2026).

Frozen yogurt sales witnessed a slump initially due to COVID-19 restrictions on brick and mortar stores. However, major players are trying to stabilize their position in the market by focusing on e-commerce and online marketing to reach out to consumers beyond geographical barriers. Moreover, the pandemic drove the consumers towards immunity-booster products, as well as other fortified products that offer health benefits, and this resulted in major players improvising upon the composition of their yogurt products, by incorporating organic ingredients, making them cholesterol-free, and launching vegan variants with no added preservatives, or additives.

Over the medium term, increased consumer preference for non-dairy, low-calorie, high-protein and healthier desserts is the primary factor driving the market. Additionally, the rising popularity of low-fat frozen yogurt and the introduction of healthy product variants with a variety of flavors is likely to provide numerous options for consumers who are looking for a healthy alternative for frozen desserts.

Furthermore, hectic lifestyles, coupled with health and wellness concerns, are the factors responsible for driving consumers towards opting for convenient frozen dessert-based snacks, and frozen yogurt as meal replacements.

Scope of the Report

Frozen yogurt is a frozen dessert made with yogurt and sometimes with other dairy and non-dairy products. Frozen yogurt is a frozen product containing the same basic ingredients as ice cream, but contains live bacterial cultures. The global frozen yogurt market is segmented by type, i.e., into dairy-based and non-dairy-based frozen yogurt. By distribution channels, the market is segmented into supermarket/hypermarkets, convenience stores, online retailers, and Others. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasting have been done in value terms of USD million.

By Type
Dairy based Frozen Yogurt
Non-dairy based Frozen Yogurt
By Distribution Channel
Supermarket/Hypermarkets
Convenience Stores
Online Retailers
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Key Market Trends

Growing Preference for New Flavors and Low-Calorie Variants

Consumers look for frozen yogurt in convenient packings, such as bars and cups, with consumer-preferred flavors. Flavors and combinations that are unique are becoming increasingly popular. Frozen yogurt tastes such as savory, caramel, chocolate, and fruity ones are in high demand. However, in the case of India and China, plain and unflavored natural yogurt is in high demand. The market is still being driven by the rising demand for natural label claims.

In recent years, tart flavors have gained appeal, competing with more typical sweet flavors. To boost sales, frozen yogurt firms like Nestle are developing new flavors and bar-style products. Due to consumer preference for low-calorie products, yogurt with non-fat and low-fat flavors is gaining popularity. The probiotics included in frozen yogurt, which aid digestion, attractiveness, and weight loss, have piqued the interest of ice cream consumers.

Frozen Yogurt Market

North America Continues to Dominate the Global Frozen Yogurt Market

The United States holds a significant share in North America, wherein there is a significant shift in consumer preferences from dairy-based frozen yogurt to non-dairy based frozen yogurt products, especially among high-income consumers. Manufacturers with high consumer insights, capabilities, and best-in-class product development competencies are attracting more consumers through innovative product portfolios.

Furthermore, the frozen yogurt industry in North America is predicted to grow in the coming years, owing to a rise in popularity for healthier food options and its image as a functional dessert. While frozen yogurt's popularity has grown in the United States and Canada, Mexico is predicted to be an attractive market for both set yogurt and frozen yogurt during the projection period (2021-2026), with a significant single-digit growth rate. The market for frozen yogurt is expected to grow at a higher rate than set yogurt, primarily because of the emergence of frozen yogurt as a dessert category in itself and its pro-biotic nature, which is good for health.

The presence of frozen yogurt in numerous flavors offered by both local, as well as major players, with promising health benefits and exceptional flavor experience, is also driving the sales of frozen yogurt in the region.

Frozen Yogurt Market2

Competitive Landscape

The global frozen yogurt market is competitive with major multi-national players like General Mills Inc., Danone, Unilever, and Nestle dominating the market, and multiple regional players responsible for splitting the market share of these key players. Major players have focused on the long-term strategies, involving product and flavor innovation as the market demand is shifting toward new flavors, apart from mergers & acquisitions. The competition among the players is high as there are many providers for frozen yogurt. 

Recent Developments

In 2021, Yasso launched a range of Greek Yogurt bites named "Yasso Poppables" in the market in coffee, sea salt caramel, vanilla bean and mint flavors. These frozen Greek yogurt bites are covered in a dark chocolate coating, and sprinkled with quinoa crunch. These poppables have been made available at participating retail stores including supermarkets.

In 2021, Yogurtland launched its first oat milk-based vegan frozen yogurt in the " Plant-Based Cinnamon Oatmeal Cookie" flavor across its participating locations. This addition came just in time post its Plant-Based Salted Chocolate Soufflé flavored frozen yogurt launch in January 2020, followed by the relaunch of its coconut milk-based flavor on consumer demand.

In 2018, Hormel Foods, the makers of SKIPPY® peanut butter announced their partnership with Menchies Frozen Yogurt to create a limited edition frozen yogurt variant using the former's signature peanut butter.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Dairy based Frozen Yogurt

      2. 5.1.2 Non-dairy based Frozen Yogurt

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Retailers

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Italy

        4. 5.3.2.4 Spain

        5. 5.3.2.5 France

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 General Mills Inc.

      2. 6.4.2 Danone S.A.

      3. 6.4.3 Nestlé S.A.

      4. 6.4.4 Unilever

      5. 6.4.5 Yasso Frozen Greek Yogurt

      6. 6.4.6 Dairy Farmers of America Inc.

      7. 6.4.7 Lactalis American Group, Inc.

      8. 6.4.8 HP Hood LLC.

      9. 6.4.9 Turkey Hill Dairy

      10. 6.4.10 Wells Enterprises

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Frozen Yogurt Market market is studied from 2016 - 2026.

The Frozen Yogurt Market is growing at a CAGR of 3.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

General Mills Inc., Unilever, Yogurtland Franchising, Inc., Danone S.A., Dairy Farmers of America Inc. are the major companies operating in Frozen Yogurt Market.

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