According to a new report from the tech-focused research firm, the frozen yogurt market in the US is growing at a CAGR of 28.10% from 2014-2019—nearly four times the global growth rate for the same time period.
Huge Number of Options and Popularity of Yogurt Franchises Will Sustain Market Growth: Technavio
The booming popularity of frozen yogurt in the states is largely due to the sheer variety of products offered. New flavors and formats are frequently released, giving vendors many opportunities to reach new customers.
“Greek frozen yogurt, for example, is gaining popularity due to its taste and higher nutritional value. Big vendors like Ben & Jerry’s, ConAgra and Dannon have all added Greek yogurt-based options to their frozen yogurt offerings,” says Faisal Ghaus, Vice President of Technavio.
Additionally, frozen yogurt franchises are gaining popularity as places to socialize, replacing the traditional coffee shop meetup.
These franchises have rotating rosters of in-house flavors, and many are now expanding and selling their products through retail channels, which will provide a boost to the market through the forecast period.
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Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary and secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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