According to forecasts, the frozen yogurt industry will reach US$ 3 billion in 2032, up from US$ 2.1 billion in 2022, growing at a CAGR of 3.7 percent (2022-2032). To gratify their taste buds, a sizable increase in customers is seeking out unexpected, novel, or distinctive flavor combinations. As a result, numerous producers of frozen yogurt are engaging in research and development initiatives to develop novel tastes to complement their current product lines.
Due to its reputation as a healthy alternative to ice cream, the demand for frozen yogurt has greatly increased. Players in the frozen yogurt industry are currently working to enhance their product offers by incorporating organic ingredients, making them cholesterol-free, and developing vegan frozen yogurts without the use of additional preservatives or additives.
The market share of frozen yogurt sold in the US is sizable. Consumer tastes in North America are shifting away from frozen yogurt made with dairy toward frozen yogurt made without dairy. Probiotic frozen yogurts are the ideal dessert because they are beneficial for one’s general health. French consumers are looking for sweets that are both healthful and nutritious.
Combining unique or unusual tastes is currently a popular frozen yogurt business trend that is rapidly expanding. Due to its superior taste and low sugar content when compared to traditional yogurt, low sugar and low-fat frozen yogurt have gained popularity since its launch.
Red Mango, Menchie’s Frozen Yogurt, Pinkberry, Frosty Boy, Honey Hills Farms, Scott Brothers Dairy, Yogurtland, I Can’t Believe It’s Yogurt, and Orange Leaf Frozen Yogurt is a few of the prominent market participants in the frozen yogurt industry.
To meet consumers’ shifting need for new flavors, top frozen yogurt players are concentrating on long-term business strategies including taste and product innovation, as well as inorganic tactics like mergers and acquisitions:
In honor of the arrival of spring, Pinkberry unveiled the new cool flavor Strawberry Lemonade. Additionally, they provide clients the choice of adding sweetness and garnishes like fresh strawberries and pineapple.
Key Market Study Conclusions
- In 2022, the market for frozen yogurt will be valued at USD 2.1 billion.
- With a CAGR of 3.7 percent through 2032, the worldwide frozen yogurt market share is anticipated to reach US$ 3 Bn.
- Throughout the projected period, the chocolate flavor is expected to hold about 50% of the frozen yogurt market share.
- During the forecast period, the frozen yogurt market in North America is anticipated to expand at a brisk 4.0%.
- Online sales of frozen yogurt will continue to be more lucrative than offline sales during the anticipated time frame.
- During the projection period, East Asia is anticipated to become a significant market for frozen yogurt.