Market Overview

The Frozen Yogurt Industry is projected to grow at a significant rate of 4.5 % from 2019 to 2024 to reach a market value of USD 8.65 billion by the end of 2024.

Market Dynamics

Consumer demand for low-calorie, high-protein desserts is increasing, and as a result, the frozen yogurt market will experience strong growth throughout the projected period. Low-fat foods are also becoming more popular. The industry is seeing the development of healthy varieties that also come in a range of flavors, which will assist to meet the needs of a wider audience. When it comes to healthy yogurt, consumers have a lot of alternatives. The majority of consumers in various parts of the world are pleased by the readily available frozen dessert-based snacks that are recognized to have a variety of health benefits. Furthermore, their flavor is superb, making them a perfect snacking option. In addition, there has been a shift in the target audience's ice cream consumption habits, resulting in a significant increase in demand across the globe. The bulk of customers are from the United States, and the products are utilized as meal replacements for those who used to like ice cream. Furthermore, people's hurried lifestyles, combined with a growing awareness of health and wellness issues, are pushing global developments.

Concerns about the existence of excessive sugar and fat content in frozen yogurt are a major problem that could stymie the frozen yogurt market's growth. It is a well-known truth that eating meals with a high sugar content can expose a consumer to a variety of health problems. Another aspect that may function as a stumbling block to the market's expansion is the growing number of frozen yogurt replacements. Consumers will appreciate a product that has a wonderful taste while still being low in sugar and fat. As a result, this aspect may limit frozen yogurt sales.

Competitive Dynamics

The players are 16 Handles (US), L.L.C. (US), Unilever (UK), Wells Enterprises (US), General Milld Inc (US), and TCBY (US).

Segmentation

Under the product type section, the global market deals with dairy-based frozen yogurt as well as non-dairy-based frozen yogurt.

Supermarkets and hypermarkets, internet retailers, convenience stores, and other distribution channels are used by global frozen yogurt market participants to make their products available to market end-users. The goal is to increase product availability and meet the need of the target consumers by utilizing various verticals.

Region Overview

During the projected period, the North American market is expected to lead the worldwide frozen yogurt industry. The frozen yogurt market trends are witnessing a gradual shift in consumer choice from dairy products to frozen yogurt during the term, therefore the US market is likely to keep a substantial share. During this time, there is also a decrease in non-dairy-based products. The demand is particularly strong among high-income consumers. Consumer insights and capabilities that can compete with existing competences are sought by manufacturers of frozen yogurt on the market. Among the other creative items and portfolio developments, this is anticipated to garner a wide consumer base.

The APAC area is contributing to the excellent flavor experience and, as a result, is expected to rise rapidly in the worldwide market.

Manufacturers operating in the European market are taking innovative initiatives as a result of their continuous involvement in considerable research and development operations. By the conclusion of the projection period, the availability of safer and natural goods, as well as their dominance in competition with synthetic products, would have aided the market's significant expansion.

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