Portland, OR, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Frozen Yogurt Market garnered $10.4 billion in 2021, and is estimated to generate $17.1 billion by 2031, manifesting a CAGR of 5.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $10.4 billion |
| Market Size in 2031 | $17.1 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 299 |
| Segments covered | Nature, Flavor, Distribution Channel, and Region. |
| Drivers | The increase in penetration of various online portals in developing regions Rapid growth in online and mobile user customer bases in emerging markets Surge in e-commerce sales The rise in number of offers or discounts in e-commerce sites Retail market expansion |
| Opportunities | Ease in payment options The facility to enter in new international markets |
| Restraints | Number of substitute products |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global frozen yogurt market, owing to implementation of global lockdown which resulted to temporary closure of yogurt factories.
- Curfew practices globally affected the domestic as well as international production of yogurt, which, in turn, hampered the growth of the overall market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- The demand for frozen yogurt is expected to rise significantly in the forthcoming period, as frozen yogurts are known to boost the immune system of humans, and hence increase the consumer awareness regarding flavored frozen yogurt, which is projected to drive the sales
The research provides detailed segmentation of the global frozen yogurt market based on Nature, Flavor, Distribution Channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on nature, the conventional segment held the highest share in 2021, accounting for more than two-thirds of the global frozen yogurt market, and is expected to continue its leadership status during the forecast period. However, the organic segment is expected to register the highest CAGR of 5.9% from 2022 to 2031.
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Based on flavor, the chocolate segment accounted for the highest share in 2021, contributing to nearly two-fifths of the global frozen yogurt market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the mango segment is expected to manifest the highest CAGR of 5.6% from 2022 to 2031.
Based on distribution channel, the supermarket and hypermarket segment accounted for the highest share in 2021, holding nearly half of the global frozen yogurt market, and is expected to continue its leadership status during the forecast period. However, the convenience store segment is estimated to grow at the highest CAGR of 5.9% during the forecast period.
Based on region, Europe held the largest share in 2021, contributing to around two-fifths of the global frozen yogurt market share. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.1% during the forecast period, and is projected to maintain its dominant share in terms of revenue in 2031. The research also analyzes regions including North America and LAMEA.
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Leading market players of the global frozen yogurt market analyzed in the research include Yakult Honsha Co., Ltd., Menchie's Group, Inc., Nestle S.A., DuPont, MorinagaCo., Ltd., Yogen Fruz Canada Inc., Arla Foods amba, Chobani Global Holdings, LLC, Danone Inc., General Mills, Inc., Lactalis Group, Saputo Inc., Gujarat Cooperative Milk Marketing Federation Ltd., Britannia Industries Limited, Yogurtland Franchising, Inc
The report provides a detailed analysis of these key players of the global frozen yogurt market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
