Frozen Yogurt Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.05 Billion |
| Market Size (2029) | USD 1.40 Billion |
| CAGR (2024 - 2029) | 5.97 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Frozen Yogurt Market Analysis
The Frozen Yogurt Market size is estimated at USD 1.05 billion in 2024, and is expected to reach USD 1.40 billion by 2029, growing at a CAGR of 5.97% during the forecast period (2024-2029).
- The frozen yogurt market is experiencing rapid growth due to global demand for tart-flavored desserts and the rising consumption of frozen yogurt. Growing demand for healthy foods is also present among young consumers, contributing to the industry's growth. According to the US Department of Agriculture, the United States' per capita consumption of frozen yogurt increased to 0.9 pounds in 2021, an increase from 0.6 pounds in 2020.
- Furthermore, consumers are increasingly interested in immune boosters and fortified products that have health benefits, so major players have improvised their yogurt products by adding organic ingredients, making them cholesterol-free, and creating vegan variants. For instance, in July 2021, Oatly launched a plant-based vegan frozen yogurt available across the United States.
- 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 beneficial product variants with various flavors is likely to provide numerous options for consumers looking for a healthy alternative to frozen desserts.
- Furthermore, hectic lifestyles and health and wellness concerns drive consumers towards opting for convenient frozen dessert-based snacks and frozen yogurt as meal replacements. Moreover, 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, which is driving the growth of the frozen yogurt market.
Frozen Yogurt Market Trends
This section covers the major market trends shaping the Frozen Yogurt Market according to our research experts:
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 are in high demand. The rising demand for natural label claims is still driving the market.
- Tart flavors have gained appeal in recent years, competing with typical sweet flavors. To boost sales, frozen yogurt brands are developing new flavors and bar-style products. For instance, in July 2022, Pinkberry, a frozen yogurt shop based in Arizona, launched a new frozen yogurt and smoothie called Lava Swirl. A combination of strawberries, pineapple, and tropical coconut flavors produces the Lava Swirl.
- Additionally, as consumer habits change around the world, consumers are becoming more prone to adopting and consuming dairy foods that are healthy, tasty, organic, and low in calories to meet their nutritional needs. Hence, due to the rising consumer preference for low-calorie products, yogurt with non-fat and low-fat flavors are gaining popularity.
- Ice cream consumers are becoming more attracted to flavored frozen yogurt since it contains probiotics that help with digestion, appearance, and weight loss. As a result, the players are expanding their manufacturing facilities to keep up with the growing demand for frozen yogurt.
North America Continues to Dominate the Global Frozen Yogurt Market
- The frozen yogurt industry in North America is predicted to grow in the coming years, owing to the popularity of healthier food options and its image as an available 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, with a significant 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 and its pro-biotic nature, which is good for health.
- Furthermore, the United States holds a significant share of North America. There is a substantial 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. For instance, in June 2022, The chewy candy company HI-CHEW partnered with Menchie's Frozen Yogurt in North America to launch a limited edition HI-CHEWTM Rainbow Sherbet Flavor frozen yogurt.
- The presence of frozen yogurt in numerous flavors offered by both local and significant players, with promising health benefits and exceptional flavor experience, is also driving the sales of frozen yogurt in the region.
Frozen Yogurt Industry Overview
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 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 of frozen yogurt.
Frozen Yogurt Market Leaders
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General Mills Inc.
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Yogurtland Franchising, Inc.
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Danone S.A.
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Dairy Farmers of America Inc.
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Unilever PLC
*Disclaimer: Major Players sorted in no particular order
Frozen Yogurt Market News
- June 2022: As part of Sovos Brands, Colorado-based whole milk yogurt brand Noosa launched the first-ever line of Noosa Frozen Yoghurt Gelato for the first time. There are four flavors of gelato available in grocery freezers: chocolate fudge, strawberries & cream, sea salt caramel, and honey vanilla bean.
- June 2022: Yogurtland, a frozen yogurt company, introduced two new limited-time flavors for summer: strawberry mango sorbet and passion fruit mango tart. Yogurtland is selling its Strawberry Mangonada cup exclusively online at yogurt-land.com, the Yogurtland app, and DoorDash. Online-exclusive cups and summer flavors are available at participating locations.
- April 2022: As part of its strategy to strengthen the brand's position in the market, Yasso, the brand of frozen Greek yogurt, introduced the first frozen Greek yogurt Mochi. It is made from creamy frozen Greek yogurt, which is encased in sweet, fluffy rice dough. The Mochi is available in four flavors: chocolate, mango, vanilla, and strawberry.
Frozen Yogurt Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Dairy based Frozen Yogurt
5.1.2 Non-dairy based Frozen Yogurt
5.2 Distribution Channel
5.2.1 Supermarket/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Retailers
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 Italy
5.3.2.4 Spain
5.3.2.5 France
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 General Mills Inc.
6.3.2 Danone S.A.
6.3.3 Nestlé S.A.
6.3.4 Unilever PLC
6.3.5 Yasso Frozen Greek Yogurt
6.3.6 Dairy Farmers of America Inc.
6.3.7 Groupe Lactalis SA
6.3.8 HP Hood LLC.
6.3.9 Sovos Brands Intermediate, Inc.
6.3.10 Bulla Dairy Foods
6.3.11 Turkey Hill Dairy
6.3.12 Wells Enterprises
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frozen Yogurt Industry Segmentation
Frozen yogurt is a frozen dessert made with yogurt and sometimes with other dairy and non-dairy products.
The global frozen yogurt market is segmented by type, i.e., into dairy-based and non-dairy-based frozen yogurt. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, online retailers, and Others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD Million).
| Type | |
| Dairy based Frozen Yogurt | |
| Non-dairy based Frozen Yogurt |
| Distribution Channel | |
| Supermarket/Hypermarkets | |
| Convenience Stores | |
| Online Retailers | |
| Others |
| Geography | |||||||||
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Frozen Yogurt Market Research FAQs
How big is the Frozen Yogurt Market?
The Frozen Yogurt Market size is expected to reach USD 1.05 billion in 2024 and grow at a CAGR of 5.97% to reach USD 1.40 billion by 2029.
What is the current Frozen Yogurt Market size?
In 2024, the Frozen Yogurt Market size is expected to reach USD 1.05 billion.
Who are the key players in Frozen Yogurt Market?
General Mills Inc., Yogurtland Franchising, Inc., Danone S.A., Dairy Farmers of America Inc. and Unilever PLC are the major companies operating in the Frozen Yogurt Market.
Which is the fastest growing region in Frozen Yogurt Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Frozen Yogurt Market?
In 2024, the North America accounts for the largest market share in Frozen Yogurt Market.
What years does this Frozen Yogurt Market cover, and what was the market size in 2023?
In 2023, the Frozen Yogurt Market size was estimated at USD 0.99 billion. The report covers the Frozen Yogurt Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Frozen Yogurt Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Frozen Yogurt Industry Report
Statistics for the 2024 Frozen Yogurt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Frozen Yogurt analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Frozen Yogurt Market Report Snapshots
