According to the report Frozen Yogurt Market, published by Market Data Forecast, the Global market is projected to reach USD xx million by 2021, at a CAGR of xx% from 2016 to 2021.
Yogurt is a diary product, prepared by bacterial fermentation of milk. Frozen yogurt is a type of dessert prepared by using yogurt and some other dairy products. It is served similar to ice cream and in different kinds of flavours. Frozen yogurt has lesser fat than ice cream as yogurt in place of cream, which contains less fat. There are many types of yogurts like sugar free yogurt, low fat yogurt to attract all types of consumers.
Factors accountable for the growth of market are low fat compared to ice creams and others desserts, developing distribution channels, shifting consumer focus towards healthier products and low fat products, product innovation, creating different kinds of flavours and types and increasing penetration of players.
Yet, factors like strict regulatory frame work, high maintenance costs and storage complications are hindering the growth of market.
Based on Fat content, low fat frozen yogurt is the most dominant product segment due to increasing acceptance among the health conscious consumers as an alternative for ice cream and increasing trend for low fat foods. Based on Type, Regular Frozen yogurt holds the major share in the market while sugar free frozen yogurt is expected to grow the fastest.
Regionally, North America dominated the Frozen Yogurt market due to shifting consumer preference for yogurt over other dairy products and increasing awareness regarding the health benefits. Also, Asia Pacific is projected to grow the fastest due to increasing adoption rate in developing economies like China, India and Japan.
Frozen Yogurt Market: Key Players
Some of the major players in the market include Menchie's Frozen Yogurt Company, Pinkberry, Honey Hill Farms, Scott Brothers Dairy, Red Mango, Inc., Yogurtland Inc., Gujarat Cooperative Milk Marketing Federation Ltd., TCBY, and Nestle among others.
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