Market Trends of Frozen Yogurt Industry
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.
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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.
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