Frozen Yogurt Market Expected to Reach $17.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Frozen Yogurt Market," The Frozen Yogurt Market Size was valued at $10.4 billion in 2021, and is estimated to reach $17.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

Globally, changing consumer preferences toward the consumption of organic, tasty, and healthy dairy food are expected to drive the market demand. Rise in consciousness regarding healthy lifestyle adoption and the preference for staying fit have raised consumer indulgence in frozen yogurt products. Moreover, the increasing prevalence of chronic lifestyle diseases worldwide has further boosted the Frozen Yogurt Market Growth.  

Furthermore, frozen yogurt has nearly every nutrient needed by the human body and is considered as an effective food for achieving flat abs and weight loss. It is rich in calcium, vitamins, and trace minerals such as phosphorus, magnesium, & potassium. Moreover, consumption of frozen yogurt helps in enhancing immune system and protects our body from a variety of infections.  

However, the growth in the frozen yogurt market brings about a significant need for governmental intervention and it also strengthens regulations pertaining to the distribution, production, safety testing, & claims related to the effectiveness and efficiency of frozen yogurt. In last couple of years, the governments across the globe have become stricter with the safety standards and have observed a rise in the number of labeling violation related to frozen yogurt products. Moreover, strict regulatory compliance across all the countries related to frozen yogurt products has further affected the market.  

The frozen yogurt market is expected to witness significant growth, owing to rise in consumer awareness regarding health benefits associated with frozen yogurt. In addition, easy availability of diversified flavors of frozen yogurt such as mango, chocolate, strawberry, and other has further augmented the growth of the market. Moreover, rise in income levels and urbanization is the key driver for the frozen yogurt market. Furthermore, increase in aggressive advertisements and promotions through social media platforms by manufacturer’s plays a crucial role in Frozen Yogurt Market Trends. 

The market in the Asia-Pacific offers lucrative growth opportunities for the operating players owing to the presence of countries such as India, China, Australia, New Zealand, and others. Increase in adoption of western lifestyle, surge in population, and rise in disposable income of consumers majorly drive the growth of the frozen yogurt market. Moreover, increase in awareness regarding flavored frozen yogurt products and its associated benefits have further augmented the growth of the market. Developing region offers potential growth opportunities to the market players for launching innovative frozen yogurt products. Moreover, countries in Latin America, such as Brazil, are anticipated to unfold attractive business Frozen Yogurt Market Opportunities owing to increase in awareness regarding frozen yogurt products and its benefits.  

According to the Frozen Yogurt Market Analysis, the market has been segmented based on nature, flavor, and distribution channel and region. Based on nature, the market is divided into organic and conventional. Based on the flavor, the market is segmented into mango, chocolate, strawberry, and others. By distribution channel, the market is divided into hypermarkets/supermarket, specialty stores, pharmacies, online sales channel, and others.  By distribution channel the market is divided into hypermarket/supermarket, specialty stores, convenience stores, online sales channels, and others.  Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. 

Based on the nature, the organic segment witness a major growth rate during the forecast period. One of the leading factors of the growth of organic frozen yogurt is the growth in consumer preference toward organic products as organic products are beneficial in terms of nutrients and antioxidants that aid in the improvement of the overall health of the consumers. In addition, consumers with food allergies, chemicals, and preservatives may find symptoms which reduce after the consumption of organic products.  

Based on the flavor, strawberry segment witness major growth rate during the Frozen Yogurt Market Forecast period. The strawberry segment is likely to reach $2,197.2 million by 2030. Increase in strawberry flavor yogurt product distribution chains and broadening consumers demand for organic strawberry flavor are some additional factors supplementing the Europe market. Moreover, increase in consciousness regarding healthy lifestyle adoption and the preference to stay fit has raised consumer indulgence in strawberry yogurt products. 

Based on the distribution channel, the hypermarket/supermarket accounted for highest Frozen Yogurt Market Share in 2021 and is expected to grow at a significant CAGR during the forecast period. The expansion of the supermarket/hypermarket category in the frozen yogurt market may be ascribed to the increased consumption of frozen yogurts in both mature and emerging markets. Customers benefit from the availability of frozen yogurt in different flavors, discounts on certain brands, the assistance of sales personnel, and convenient checkouts at supermarkets/hypermarkets. The proliferation of new supermarkets and hypermarkets in the suburbs has given consumers the ability to select the sort of yogurt that best suits their needs.  

Based on the region, Asia-Pacific witness major growth rate during the forecast period. Many companies operate in the Asia-Pacific frozen yogurt market to increase their customer base and expand their operating areas across various countries. Rise in awareness regarding natural and organic frozen yogurt products has led to surge in demand for organic frozen yogurt products in Asia-Pacific. Increase in urbanization, growth of middle-class consumers, and surge in rate of female participation in labor force in many developing and developed markets have encouraged adoption of convenience-oriented lifestyles, making frozen yogurt a desirable option. Moreover, rise in awareness regarding different cosmetics products further increases the sales of frozen yogurt in the market.   

Major companies in the Frozen Yogurt Industry have adopted agreement, product launch, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report Chr. Hansen Holding, Yakult Honsha Co., Ltd, Nestlé, DuPont, MORINAGA & CO., LTD, BioGaia AB, Protexin, Arla food Amba, Britannia Industries LTD, Chobani LLC, Danone, General Mills, Lactalis Corporation, Saputo INC, and Gujarat Cooperative Milk Marketing.

Key findings of the study 

• By nature, the organic segment is estimated to witness the significant growth, registering a CAGR of 5.9% during the forecast period. 

• By flavor, the Mango segment is anticipated to grow at a CAGR of 5.6% during the forecast period. 

• By distribution channel, the online stores segment is estimated to witness the significant growth, registering a CAGR of 5.7% during the forecast period. 

• By region, Asia-Pacific was the dominant region in 2021, occupying major share of the market.