The North American market for frozen yogurt products is expected to grow in the next few years, mainly due to a gain in popularity for healthier food options, but also because of its image as a functional dessert.
According to a report by Transparency Market Research, the yogurt market in North America was worth USD 7.3 billion in 2012 and is expected to reach USD 11.7 billion by 2019; growing at a CAGR of 8.2% from 2013 to 2019.
While frozen yogurt’s popularity has been growing in the U.S and Canada, according to the report, Mexico is expected to be the most attractive market for the period of 2013- 2019 for both the set yogurt and frozen yogurt and it is expected to increase at a substantial single digit growth rate from 2013 to 2019.
Data estimates show that among the two product types of yogurt analyzed, i.e., set yogurt and frozen yogurt; the market for frozen yogurt is expected to grow at a higher rate, compared to set yogurt, primarily because of the emergence of frozen yogurt as a dessert category in itself and its pro-biotic nature, which is good for health.
In terms of main producers in the U.S., Chobani Inc held the maximum market share in 2013 followed by Groupe Danone S.A. and General Mills. The Ultima Foods Inc. held the maximum share in Canada followed by Groupe Danone S.A. and Parmalat Canada in 2013, while in Mexico the yogurt market is lead by Groupe Danone S.A. followed by Sodiaal S.A.