After a detailed analysis of the food and plant-based preservative market, FMI recently published a new report on the frozen yogurt market. As per the analysis, sales of frozen yogurt hold a current valuation of USD 99.29 billion in 2024.
Reflecting on consumers’ expectations, frozen yogurt producers work on simpler labels with understandable ingredients, reinforcing continuous demand. Going by this pattern, demand could rise and equate to a market valuation of USD 272.74 billion, with a CAGR of 10.6% by 2034.
| Attributes | Details |
|---|---|
| Frozen yogurt Market Value for 2024 | USD 99.29 billion |
| Frozen yogurt Market Value for 2034 | USD 272.74 billion |
| Frozen yogurt Market Forecast CAGR for 2024 to 2034 | 10.6% |
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In 2019, the global frozen yogurt market was estimated to reach a valuation of USD 60.36 billion, according to a report from Future Market Insights (FMI). The frozen yogurt market witnessed significant growth, registering a CAGR of 9.9% during the historical period 2019 to 2023.
| Historical CAGR | 9.9% |
|---|---|
| Forecast CAGR | 10.6% |
The availability of various flavors and variations and rising consumer desire for healthy dessert options propelled the worldwide frozen yogurt market to a valuation of USD 60.36 billion in 2019. With a historical CAGR of 9.9% between 2019 and 2023, this market experienced significant growth. The frozen yogurt market is expected to grow, with an anticipated CAGR of 10.6%.
The growth is anticipated to be directed by expanded distribution channels, creative product options, and a surge in disposable income. The developments above highlight the remarkable prospects in the frozen yogurt industry, as companies are well-positioned in using the change in consumer inclinations and market conditions to maintain expansion in the upcoming years.
The below section shows the leading segment. Based on the product type, the dairy-based segment is accounted to hold a market share of 88.2% in 2024. Based on sales channel, the hypermarket/supermarket segment is accounted to hold a market share of 44.2% in 2024.
A surge in demand for these time-honored classics in the frozen desserts market as so many customers are accustomed to the flavor and texture of dairy-based desserts like ice cream and frozen yogurt.
Customers tend to readily discover a variety of frozen dessert alternatives at hypermarkets and supermarkets, which make it easier for them to buy their favorite treats on regular grocery shopping trips.
| Category | Market Share in 2024 |
|---|---|
| Dairy-based | 88.2% |
| Hypermarket/Supermarket | 44.2% |
Based on the dairy-based segment, holding a significant market share of 88.2% in 2024, the dairy-based sector is leading the frozen desserts market. The market shows that frozen desserts with dairy products, including milk and cream, are highly preferred by customers because they have a rich, creamy texture.
Several variables, including taste preference, perceived indulgence, and familiarity with classic dairy flavors, are probably responsible for the appeal of frozen desserts containing dairy.
Based on sales channel, the hypermarket/supermarket segment holds 44.2% of the market share in 2024. The market emphasizes how important big-box retailers are in getting frozen treats to customers.
A large selection of frozen dessert options is available in supermarkets and hypermarkets, which gives customers convenience and accessibility. A boom in sales of frozen desserts within their locations is the promotional events and eye-catching displays that these retail outlets frequently have.
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The table mentions the top five countries ranked by revenue, with India holding the top position.
India is the market leader in frozen yogurt due to the heightened desire for healthier dessert options from its urban population.
The recognized health benefits and adaptability of frozen yogurt are gaining traction among consumers in India, who are placing a greater emphasis on wellness and health. This automatically has resulted in significant market expansion and adoption across metropolitan centers.
Forecast CAGRs from 2024 to 2034
| Countries | CAGRs through 2034 |
|---|---|
| United States | 3.5% |
| Germany | 4.1% |
| China | 5.5% |
| Japan | 5.8% |
| India | 6% |
In the United States, the frozen yogurt market is primarily utilized as a healthier dessert option, catering to health-conscious consumers seeking alternatives to traditional ice cream.
Major chains and independent shops offer a wide range of flavors and toppings, attracting a diverse customer base.
In Germany, frozen yogurt is enjoyed as a refreshing treat, particularly during the warmer months.
Consumers appreciate its creamy texture and tangy taste, making it a popular choice for indulgence.
In China, the frozen yogurt market is leveraged as a trendy dessert option, especially among urban millennials. Its customizable nature and association with health benefits appeal to young consumers seeking novel experiences.
In Japan, frozen yogurt is a light and refreshing snack, often paired with fresh fruit or mochi. Its availability in various flavors and formats caters to the discerning tastes of consumers of Japan.
In India, the frozen yogurt market is embraced as a modern dessert option, particularly in urban areas. Its perceived health benefits and versatility make it a favored choice among health-conscious individuals seeking guilt-free indulgence.
The frozen yogurt market is a competitive landscape that subsequently features a variety of brands offering diverse flavors and toppings. Major chains like Pinkberry and Frosty Boy dominate alongside local and regional players.
Customization options, innovative flavors, and strategic partnerships with supermarkets and specialty stores contribute to market growth. Consumer preferences for healthier dessert options also drive demand in this market.
Some of the key developments are:
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 99.29 billion |
| Projected Market Valuation in 2034 | USD 272.74 billion |
| Value-based CAGR 2024 to 2034 | 10.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | Product Type, Fat Content, Flavours, Sales Channel, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Frosty Boy; Pinkberry; Honey Hill Farms; Scott Brothers Dairy; Red Mango; Yogurtland; Llaollao; I Can't Believe It's Yogurt!; Menchie's Frozen Yogurt; Orange Leaf Frozen Yogurt |
As of 2024, the market for frozen yogurts is expected to be valued at USD 99.29 billion.
The frozen yogurt market is projected to expand at a CAGR of 10.6% between 2024 and 2034.
The dairy based segment is projected to dominate the industry.
By 2034, the market value of frozen yogurt is expected to reach USD 272.74 billion.
India is likely the top-performing market, with a CAGR of 6%.
| Estimated Market Size (2024E) | USD 333.3 million |
|---|---|
| Projected Market Value (2034F) | USD 642 million |
| Value-based CAGR (2024 to 2034) | 6.8% |
| Market Share (2023) | USD 20,196 million |
|---|---|
| Market Share (2033) | USD 35,994 million |
| Market CAGR (2023 to 2033) | 6% |
| Market Estimated Size (2023E) | USD 44,808.5 million |
|---|---|
| Projected Market Valuation (2033F) | USD 79,147.2 million |
| Value-based CAGR (2023 to 2033) | 5.9% |
| Market Estimated Size (2022E) | USD 100.1 Billion |
|---|---|
| Projected Market Valuation (2032F) | USD 176 Billion |
| Value-based CAGR (2022 to 2032) | 5.8% |
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