Increasing Demand for Dietary Beverages Including No-fat or Low-fat Yogurt Would Propel the Growth of the Froyo Market During the Forecast Period 2023-2028

The Froyo Market is estimated to reach $2.6 billion by 2028, growing at a CAGR of 3.4% over the forecast period of 2023–2028. Dietary beverages are emerging as the leading application, owing to the high demand for low-fat or no-fat flavored yogurt beverages. In comparison, a 6-ounce serving of full-fat yogurt contains 6 grams of total fat and 4 grams of saturated fat, whereas plain yogurt with no added fat is fat-free. According to the American Heart Association, limiting saturated fat intake to 6% of total calories or 13 grams on a 2,000-calorie diet would safeguard a healthy heart. Many manufacturers in this market are engaged in the production of dietary beverages like low-fat yogurt beverages with a variety of flavorings. 

Frozen yogurt is fermented milk. It also contains a classic yogurt flavor. There, it is stabilized, strengthened with a fruiting substrate (syrup or chunks), whisked and stored in a freezer. Frozen yogurt is identical to ice cream. The product is typically divided into three groups: soft, firm, or creamy.

Geographically, North America held the largest revenue market share of 35% in 2022, as the demand for frozen yogurt is higher owing to its health benefits and the rising popularity of vegan yogurt in the region. Asia-Pacific is anticipated to grow the fastest during the forecast period of 2023–2028, owing to the rising consumption of frozen yogurt as an alternative dessert in the region.

Froyo Market – Drivers

Increasing Demand for Healthier Sweet Products:

The change in dessert consumption patterns has resulted in a global surge in frozen yogurt consumption. Since May 2022, Yogurtland started selling Strawberry Banana frozen yogurt, which is produced with real strawberries and bananas. Since frozen yogurt is recognized as a healthy alternative to ice cream, demand for it has significantly increased. Low-fat frozen yogurt consumption has been linked to a lower risk of type 2 diabetes, enhanced immunological function, good digestion and decreased blood pressure.

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Vegan Yogurt is Becoming More Popular:

Vegan yogurt is produced without the use of dairy products, using plant-based ingredients. The rise of start-ups, grocery store brands and vegan alternatives from well-known companies in the dairy yogurt industry has caused a lot of activity in the vegan yogurt department of grocery stores in recent years. For instance, Yoat, a new line of vegan yogurt, has been released by the Meadow Foods-owned brand Plant & Co. in February 2022. The brand-new line was created utilizing the company's distinctive oat and coconut base and can come in a variety of flavors, including natural, strawberry, raspberry and peach.

R&D Investment:

In April 2021, Frosty Boy successfully launched a new soft-serve product and persisted with intentions to export to Africa while facing the COVID-19 danger. Additionally, it figured out how to make its well-known soft-serve ice creams last up to 20 minutes before melting, extending their meltdown life.

Major Players in the Market:

The major companies in the Froyo Market include Chocolate Shoppe Ice Cream Company, Frosty Boy, Handel's Homemade Ice Cream & Yogurt, Pinkberry, Wakaberry, Yogoberry, Yogurt Mountain, Yasso, Yogurtland, Menchie's Frozen Yogurt and Others.

In November 2020, Handel's Homemade Ice Cream & Yogurt has received a sizeable investment from the California-based private equity company ClearLight Partner. 

Over the years, companies have mainly focused on manufacturing a variety of frozen yogurt flavors that have high demand across the globe. The increasing demand for frozen yogurt and rising manufacturers in the market are the key drivers supporting the Growth of the Froyo Market during the forecast period 2023-2028.