This new Technavio report offers frozen yogurt segmentation by geography (the Americas, APAC, Europe, and MEA). The key leading vendors analyzed in this market report are Menchie’s, Pinkberry, Red Mango, TCBY, and Yogurtland.
Technavio has released updated information on the global frozen yogurt market, which is envisaged to surpass $10 billion by 2020. The prospects for growth in this market will be impelled by the rise in awareness of healthy lifestyles and augmented demand for low-fat products. Due to the populace’s demand for quick, convenient, and healthy food products, the global market for frozen yogurt will have a positive outlook until the end of the forecast period. In addition, the introduction of frozen yogurt in a variety of flavors such as litchi, blackcurrant, vanilla, strawberry, and chocolate will also help vendors to cater to the needs of consumers who prefer consuming low-fat foods.
Recently, many vendors have started offering frozen yogurt in a variety of flavors to satisfy the taste of consumers. Apart from traditional flavors, such as mango, strawberry, banana, and vanilla, frozen yogurt is also available in many different flavors and combinations of flavors like brownie and chocolate chip. Low-fat, non-fat, and natural yogurts are also becoming popular in the US because of its high rate of obesity.
“Though frozen yogurt is unique and has reasonable economic value in the current market, it is at high risk of becoming commoditized by 2020. A major reason behind its commoditization is the advent of private labels in the market. During 2005, when the yogurt category was commoditized, the prices reduced to $0.50 per cup in countries such as the US. Thus, to counter commoditization, vendors developed Greek yogurt. Greek yogurt has a higher value proposition due to its high protein and carbohydrate content, all-natural ingredients, and richer taste and texture,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
An important trend in this market is the numerous health benefits associated with frozen yogurt. Frozen yogurt contains various enzymes that help in digestion. It also consists of healthy bacteria, which boost the immune system. Since it contains calcium and proteins, it is highly beneficial for bones and muscles. The growing demand from health-conscious people will help to augment the demand for frozen yogurt until the end of 2020.
Global frozen yogurt market by geography 2020
Source: Technavio
The leading vendors in this market are Menchie’s, Pinkberry, Red Mango, TCBY, and Yogurtland. A major geography to watch out for is the Americas, where the market will grow at a CAGR of almost 22% by 2020. Vendor performance in the market may be affected by changing consumer spending patterns and may also be affected by consumer tastes; regional, national, and local economic conditions; and demographic trends.
A more detailed analysis is available in the Technavio report Global Frozen Yogurt Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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