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Froyo Market Overview
The Froyo Market is estimated to reach US$2.6 billion by 2028, growing at a CAGR of 3.4% over the forecast period of 2023-2028. Frozen yogurt is available in a wide variety of flavors. The increasing awareness of health issues and consumer demand for wholesome foods and diets are driving the growth of the frozen yogurt market globally. The rising demand for dietary and healthy beverages is propelling the demand for yogurt beverages which is another factor driving the froyo market. Similar to regular yogurt, the tart frozen treat is made from milk that has undergone a live bacterial fermentation process. The frozen dish typically also includes cream, sugar, flavorings and stabilizers. It can have the same amount of sugar as ice cream, but it usually has less fat and calories. According to Geerts, a half-cup serving of frozen yogurt has about 110 calories, three grams of fat and 17 grams of carbohydrates (may vary depending on brand and flavor). Froyo comes in a variety of flavors, like chocolate, mango, strawberry, banana, pineapple and others. Froyo can be both dairy-based and non-dairy-based. A dairy-based froyo is mostly made of milk from cows or buffaloes, whereas a non-dairy-based froyo is a vegan froyo, which is made of milk from almonds, soy, coconut, oats, cashews and others.
Froyo Market Report Coverage
The report: “Froyo Market – Forecast (2023-2028)” by IndustryARC, covers an in-depth analysis of the following segments in the Froyo Market.
By Flavor: Chocolate, Mango, Banana, Pineapple, Strawberry and Others.
By Product Type: Dairy Based and Non-dairy Based.
By Fat Content: High Fat, Low Fat and No Fat.
By Distribution Channel: Hypermarket/Supermarket, Retail Stores, Specialty Stores, Online Stores and Others.
By Geography: North America (the U.S., Canada and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).
Key Takeaways
- North America dominates the Froyo Market in 2022, owing to the rising awareness of healthy food consumption and its benefits. Asia-Pacific is anticipated to grow the fastest during the forecast period of 2023-2028, owing to the changing lifestyle and consumer preferences.
- The market for frozen yogurt is being driven by a shift in consumer desire towards healthier dessert options, with low fat and sugar.
- The rising demand for dietary and healthy beverages is propelling the demand for yogurt beverages which is another factor driving the Froyo market.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Froyo Market Report.
Froyo: Market Share (%) by region, 2022
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Froyo Market Segment Analysis – by Flavor
Based on flavor, the Froyo market is further segmented into chocolate, mango, banana, pineapple, strawberry and others. The chocolate segment held the largest revenue market share in 2022, owing to rising demand for new and unique flavors and chocolate is one of the most popular food items consumed globally. According to Chocolate Industry Facts, 8 million tons of chocolate were reportedly consumed worldwide in 2021. However, the mango segment is estimated to grow at the fastest CAGR of 4.7% over the forecast period of 2023–2028, as mango is the most popular seasonal flavor. They are nutrient-rich and offer a variety of health advantages, including preventing cancer, decreasing cholesterol, alkalizing the body, boosting eye health, supporting digestion, cleaning the skin, boosting the immune system and preventing heat stroke.
Froyo Market Segment Analysis – by Fat Content Type:
Based on fat content type, the Froyo market is further segmented into low-fat and no-fat products. The low-fat segment held the largest revenue market share in 2022, owing to rising demand for low-fat beverages. According to a Daily Beverages article, consumers' calorie intake from beverages was 5.5% lower in 2020 and low-fat beverages have volume sales of 58.7%. However, the no-fat segment is anticipated to grow at the fastest CAGR of 4.4% over the forecast period of 2023–2028, as consumers prefer zero-fat or no-fat beverages. The adoption of a healthier and more nutritious diet and changing consumer preferences are anticipated to increase demand and propel market growth.
Froyo Market Segment Analysis – by Geography:
Based on geography, the North American frozen yogurt market accounted for the largest revenue share of 35% in 2022, as frozen yogurt comes in a variety of flavors and consumers prefer low-calorie sweets. According to Agriculture Canada, 8.9 million liters of frozen dessert items were sold in the Philippines at retail in 2021, with frozen yogurt sales accounting for 1.3% of the total. However, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period of 2023–2028 as the adoption of healthy food habits and nutrient-dense foods attract more consumers in the region. Since frozen yogurt is viewed as a healthy alternative to dessert, demand for it has greatly increased in developing countries like China and India.
Froyo Market Drivers
Introduction of New and Unique Flavors:
Yogurt also attracts consumers by introducing them to unusual regional flavors from around the world. For instance, the Collective Lemon Yuzu Cheesecake Probiotic Yogurt has the flavor of the yuzu, a well-known citrus fruit from Japan (also grown in New Zealand). Another suggestion for enhancing yogurt or yogurt beverages is Mexican-style chocolate, a flavor that has gained popularity in the U.S. dairy aisle owing to TruMoo After Dark Mexican-style Chocolate Vitamin D Milk. The dark chocolate flavor is combined with undertones of cinnamon and chile pepper in Mexican-style chocolate. According to Glanbia Nutritional, 27% of Americans who consume yogurt beverages say that discovering a new flavor made them want to buy it. 32% of British consumers say they would be willing to pay more for new yogurt flavors.
Frozen Yogurt's Benefits in Skincare and Haircare:
Frozen yogurt is appreciated for its cooling flavor and is also recognized as a natural probiotic that aids in improving the health of the digestive system. But yogurt's advantages go way beyond that. The remarkable properties of frozen yogurt, which improve the condition of the skin and hair, are made from rich, fatty milk. Yogurt enhances the moisture content of the treated area when administered topically. This increases the elasticity and brightness of the skin. Lactic acid, which is present in yogurt, is a good exfoliant. It reveals skin that is younger-looking and more radiant after removing the top layer of dead cells. The American Academy of Dermatology reports that up to 50 million Americans have acne each year, making it the most prevalent skin ailment in the country. 85% of those between the ages of 12 and 24 report having at least mild acne. Yogurt application helps hydrate the hair shafts and lessen damage indicators such as split ends, dryness and other damage indicators. These yogurt applications and uses in skincare and haircare are likely to drive the market demand for frozen yogurt.
Froyo Market Challenge
Availability of Substitute Beverages:
Alternative beverages, as well as the emergence and introduction of new manufacturers, are all fierce competitors in the market. Both milkshakes and soft drinks are still regarded as the most consumed beverages, with high demand on a global scale. According to an article on sugary beverages, half of Americans still consume sugary drinks. One in four adults consumes at least 200 calories from such beverages, while 5% consume at least 567 calories or the amount found in four soda cans. These ingestion levels go beyond the dietary guidelines that say added sugar shouldn't make up more than 10% of daily calories. The majority of consumers choose flavor over their health. The growing number of new players would also be a challenge to the existing and established large players, particularly in industrialized countries like the U.S. and Canada.
Key Market Players:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Froyo Market. The top 10 companies in the Froyo Market are:
1. Chocolate Shoppe Ice Cream Company
2. Frosty Boy
3. Handel's Homemade Ice Cream & Yogurt
4. Pinkberry
5. Wakaberry
6. Yogoberry
7. Yogurt Mountain
8. Yasso
9. Yogurtland
10. Menchie's Frozen Yogurt
Recent Developments
- In September 2022, The Chocolate Shoppe Ice Cream Co. installed stainless steel tanks and a manufacturing plant. It is a $5 million expansion that includes a $5 million mix plant on Daniels Street next to the ice cream manufacturing facility, ending the company's reliance on outside suppliers for mix production.
- In March 2021, Yasso released a line of "Poppables" Greek yogurt pieces in the flavors of coffee, sea salt caramel, vanilla bean and mint. These bite-sized morsels of frozen Greek yogurt are dusted with quinoa crunch and enrobed in a layer of dark chocolate.
- In March 2021, Yogurtland introduced its first vegan frozen yogurt using oat milk, calling it "Plant-Based Cinnamon Oatmeal Cookie" across all of its participating outlets.
Relevant Titles
Report Code: FBR 0008
Report Code: FBR 0187
Report Code: FBR 0508
For more Food and Beverage Market reports, please click here
1. Froyo Market - Overview
1.1. Definitions and Scope
2. Froyo Market - Executive Summary
3. Froyo Market – Market Landscape
3.1. Company Benchmarking - Key Companies
3.2. Financial Analysis – Key Companies
3.3. Market Share Analysis – Key Companies
3.4. Patent Analysis - Global
3.5. Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Froyo Market – Startup Company Scenario (Premium)
4.1. Investment
4.2. Revenue
4.3. Venture Capital and Funding Scenario
5. Froyo Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Scenario
5.2. New Business and Ease of Doing business index
5.3. Case Studies of Successful Ventures
6. Froyo Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Porter's five force model
6.3.1. Bargaining power of suppliers
6.3.2. Bargaining powers of customers
6.3.3. Threat of new entrants
6.3.4. Rivalry among existing players
6.3.5. Threat of substitutes
7. Froyo Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle Analysis
8. Froyo Market – by Flavor
8.1. Chocolate
8.2. Mango
8.3. Banana
8.4. Pineapple
8.5. Strawberry
8.6. Others
9. Froyo Market – by Product Type
9.1. Dairy Based
9.2. Non-dairy Based
10. Froyo Market – by Fat Content
10.1. High Fat
10.2. Low Fat
10.3. No Fat
11. Froyo Market – by Distribution Channel
11.1. Hypermarket/Supermarket
11.2. Retail Stores
11.3. Specialty Stores
11.4. Online Stores
11.5. Others
12. Froyo Market - by Geography
12.1. North America
12.1.1. The US
12.1.2. Canada
12.1.3. Mexico
12.2. South America
12.2.1. Brazil
12.2.2. Argentina
12.2.3. Colombia
12.2.4. Chile
12.2.5. The Rest of South America
12.3. Europe
12.3.1. The UK
12.3.2. Germany
12.3.3. France
12.3.4. Italy
12.3.5. Spain
12.3.6. Russia
12.3.7. The Rest of Europe
12.4. Asia-Pacific
12.4.1. China
12.4.2. Japan
12.4.3. India
12.4.4. South Korea
12.4.5. Australia and New Zealand
12.4.6. The Rest of Asia-Pacific
12.5. The Rest of the World
12.5.1. The Middle East
12.5.2. Africa
13. Froyo Market - Market Entropy
13.1. New service launches
13.2. M&As, collaborations, JVs and partnerships
14. Froyo Market – Industry Competition Landscape (Premium)
14.1. Market Share Analysis
14.1.1. Market Share by Region – Key Companies
14.1.2. Market Share by Country – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. Froyo Market – Key Company List by Country Premium (Premium)
16. Froyo Market Company Analysis
16.1. Company 1
16.2. Company 2
16.3. Company 3
16.4. Company 4
16.5. Company 5
16.6. Company 6
16.7. Company 7
16.8. Company 8
16.9. Company 9
16.10. Company 10
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES
1.Global Major Manufacturers Introduction Market 2023-2030 ($M)1.1 Manufacturers List Market 2023-2030 ($M) - Global Industry Research
1.1.1 Future Strategic Planning Market 2023-2030 ($M)
2.Global Major Manufacturers Introduction Market 2023-2030 (Volume/Units)
2.1 Manufacturers List Market 2023-2030 (Volume/Units) - Global Industry Research
2.1.1 Future Strategic Planning Market 2023-2030 (Volume/Units)
3.North America Major Manufacturers Introduction Market 2023-2030 ($M)
3.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
3.1.1 Future Strategic Planning Market 2023-2030 ($M)
4.South America Major Manufacturers Introduction Market 2023-2030 ($M)
4.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
4.1.1 Future Strategic Planning Market 2023-2030 ($M)
5.Europe Major Manufacturers Introduction Market 2023-2030 ($M)
5.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Future Strategic Planning Market 2023-2030 ($M)
6.APAC Major Manufacturers Introduction Market 2023-2030 ($M)
6.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
6.1.1 Future Strategic Planning Market 2023-2030 ($M)
7.MENA Major Manufacturers Introduction Market 2023-2030 ($M)
7.1 Manufacturers List Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Future Strategic Planning Market 2023-2030 ($M)
LIST OF FIGURES
1.US Froyo Market Revenue, 2023-2030 ($M)2.Canada Froyo Market Revenue, 2023-2030 ($M)
3.Mexico Froyo Market Revenue, 2023-2030 ($M)
4.Brazil Froyo Market Revenue, 2023-2030 ($M)
5.Argentina Froyo Market Revenue, 2023-2030 ($M)
6.Peru Froyo Market Revenue, 2023-2030 ($M)
7.Colombia Froyo Market Revenue, 2023-2030 ($M)
8.Chile Froyo Market Revenue, 2023-2030 ($M)
9.Rest of South America Froyo Market Revenue, 2023-2030 ($M)
10.UK Froyo Market Revenue, 2023-2030 ($M)
11.Germany Froyo Market Revenue, 2023-2030 ($M)
12.France Froyo Market Revenue, 2023-2030 ($M)
13.Italy Froyo Market Revenue, 2023-2030 ($M)
14.Spain Froyo Market Revenue, 2023-2030 ($M)
15.Rest of Europe Froyo Market Revenue, 2023-2030 ($M)
16.China Froyo Market Revenue, 2023-2030 ($M)
17.India Froyo Market Revenue, 2023-2030 ($M)
18.Japan Froyo Market Revenue, 2023-2030 ($M)
19.South Korea Froyo Market Revenue, 2023-2030 ($M)
20.South Africa Froyo Market Revenue, 2023-2030 ($M)
21.North America Froyo By Application
22.South America Froyo By Application
23.Europe Froyo By Application
24.APAC Froyo By Application
25.MENA Froyo By Application