South Korea Frozen Yogurt Market Size Set to Reach Healthy Value of USD 5.9 Billion by 2030

Published | 25 July 2024

South Korea Frozen Yogurt Market is flourishing because of the increasing consumer awareness regarding healthy food choices and an increased number of lactose intolerant people in the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated South Korea Frozen Yogurt Market size at USD 4,175.8 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects South Korea Frozen Yogurt Market size to expand at a CAGR of 5.10% reaching a value of USD 5,876.7 million by 2030. Growing consumer demand for non-dairy, low-calorie, high-protein desserts, increasing health consciousness, and the availability of an extensive range of products in a variety of flavors are major growth factors driving South Korea frozen yogurt market. Additionally, it is projected that South Korea frozen yogurt market will be propelled during the forecast period by the growing popularity of online channels and the attractive discounts offered on food items on these channels.

Opportunity - Rising popularity of online sales channels

The increasing availability of frozen yogurt through online grocery stores and other platforms is propelling the growth of South Korea Frozen Yogurt Market. Online grocery platforms, such as Coupang, Market Kurly, and Emart24, offer a wide range of frozen Yogurts in different flavors, which eases product accessibility. These platforms also offer online payments, same-day delivery, and subscription-based services, to attract customers. The younger consumer demographic is increasingly inclined toward online grocery platforms, which is expected to drive the South Korea South Korea Frozen Yogurt Market over the forecast period.

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Lactose-free Frozen Yogurt Holds Largest Market Share in South Korea

South Korea Frozen Yogurt Market is comprised of dairy-based, conventional, lactose-free, and non-dairy-based segments on the basis of type. The lactose-free frozen yogurt type covers a substantial share in South Korea Frozen Yogurt Market. The high rate of lactose-intolerance among Koreans acts as a major driving factor for an increasing demand for lactose-free frozen yogurt. According to a paper published in Cambridge University Press & Assessment, around 75% of Koreans are lactose-intolerant because dairy foods are not a part of the traditional Korean diet.

Impact of Escalating Geopolitical Tensions on South Korea Frozen Yogurt Market

South Korea Frozen Yogurt Market may face significant challenges from intensifying geopolitical tensions across the world. Such conflicts among countries may disrupt supply chains and increase cost of frozen yogurt ingredients. Heightened uncertainty can lead to delays in infrastructure projects, as companies may hesitate to invest in new developments amid instability. Furthermore, foreign investments may decline due to perceived risks, limiting market growth opportunities. These tensions can also affect trade policies, resulting in tariffs or restrictions that further challenge market dynamics. Consequently, it would significantly affect employment opportunities and people’s purchasing power. As a result, the overall demand for frozen yogurt may be stifled, pushing stakeholders to reassess their strategies in response to the shifting geopolitical landscape.

Competitive Landscape

South Korea Frozen Yogurt Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include NAMYANG DAIRY PRODUCTS CO., LTD, Maeil Co., Ltd, Danone Pulmuone Co., Ltd, and Binggrae Co., Ltd.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in South Korea Frozen Yogurt Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and South Korea Frozen Yogurt Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in South Korea Frozen Yogurt Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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