Report Overview

A significant portion of lactose intolerant population in the country preferring non-dairy healthy alternatives, including yogurt, and growing consumer awareness about healthy food choices are expected to boost the growth of South Korea Frozen Yogurt Market during the forecast period between 2024 and 2030.

South Korea Frozen Yogurt Market - Industry Trends & Forecast Report, 2030

South Korea Frozen Yogurt Market size was estimated to be worth USD 4,175.8 million in 2023. During the forecast period between 2024 and 2030, South Korea Frozen Yogurt Market size is projected to grow at a CAGR of 5.10%, reaching a value of USD 5,876.7 million by 2030. Major growth factors for South Korea Frozen Yogurt Market include rising consumer demand for non-dairy, low-calorie, high-protein desserts, increasing health consciousness, and availability of a wide range of products with different flavors. In addition, the rising popularity of online channels and attractive discounts on food products on these channels are anticipated to drive South Korea Frozen Yogurt Market over the forecast period.

Frozen Yogurt – Overview

Frozen yogurt is sourced from dairy and non-dairy ingredients. It is a chilled dish that is frequently eaten for dessert. Non-dairy treats like soy and coconut yogurt are often used to make frozen yogurt. Frozen yogurt, in contrast to regular yogurt, is frozen, adding thickness and smoothing the consistency. In addition, larger concentrations of extra sweeteners may be added to frozen yogurts to offset their inherently acidic and tangy flavor.

South Korea Frozen Yogurt Market

Growth Drivers

Growing Consumer Awareness Regarding Healthy Food Choices

The increasing health consciousness among Korean consumers and rising consumer demand for low-fat and customizable dessert options are emerging as major driving factors for South Korea Frozen Yogurt Market. Most frozen yogurt products consist of live probiotic cultures like regular yogurt, which are beneficial bacteria that can help maintain a healthy gut, decrease blood pressure, and boost immunity. Additionally, certain frozen yogurts are rich sources of calcium, which is important for growing strong bones.

Challenges

Availability of Alternative Products

Alternative frozen desserts, such as ice creams, still dominate the market and limit the consumption of frozen yogurt. The high preference given to taste over health acts as a major factor in the high demand for ice creams in South Korea. In addition, frozen yogurt contains a higher sugar level to balance out the tangy flavor of yogurt. The negative conception of sugar consumption and health among Koreans directly impacts the demand for frozen yogurt in the country, limiting its market growth.

Impact of Escalating Geopolitical Tensions on South Korea Frozen Yogurt Market

Escalating geopolitical tensions among countries across the regions could have a significant impact on the growth of South Korea Frozen Yogurt Market. The geopolitical tensions spreading across the world can disrupt supply chains and increase cost of frozen yogurt ingredients. Heightened uncertainties make companies 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. 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.

South Korea Frozen Yogurt Market

Segmental Coverage

South Korea Frozen Yogurt Market – By Type

Based on type, South Korea Frozen Yogurt Market is segmented into dairy-based, conventional, lactose-free, and non-dairy-based. The dairy-based segment holds the largest share in South Korea Frozen Yogurt Market by type. Customers prefer rich, creamy frozen desserts that contain dairy products like milk and cream because of their creamy texture. Many factors, such as taste preference, perception of indulgence, and familiarity with traditional dairy flavors, likely contribute to the popularity of dairy-based frozen desserts.

South Korea Frozen Yogurt Market – By Flavor

On the basis of flavor, South Korea Frozen Yogurt Market is split into regular and flavored segments. The flavored segment accounts for a higher market share. Flavored frozen yogurt is gaining significant popularity among South Korean consumers as a dessert. Frozen yogurt is available in many different flavors in the market, such as strawberry, vanilla, blueberry, peach, and raspberry, with strawberry being the most popular flavor. The increasing availability of frozen yogurt in different flavors to cater to a wider range of consumers' tastes also drives the flavored frozen yogurt in South Korea.

South Korea Frozen Yogurt Market – By Distribution Channel

Based on the distribution channel, South Korea Frozen Yogurt Market is segmented into supermarkets & hypermarkets, convenience stores, online stores, and others. The supermarkets & hypermarkets segment dominates South Korea Frozen Yogurt Market. The growth of the distribution channel segment is mainly attributed to the convenience it offers to consumers by providing a wide range of products under one roof. However, the online segment is anticipated to register the highest CAGR during the forecast period. The emergence of online food delivery platforms, such as Coupang Fresh and Emart, along with the rising adoption of online payment platforms, are estimated to propel the growth of the online segment.

Competitive Landscape

Major players in the highly competitive South Korea Frozen Yogurt 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.

Scope of the Report

By Type

• Dairy-based

• Conventional

• Lactose Free

• Non-Dairy-based

By Flavor

• Regular

• Flavored

By Distribution Channel

• Supermarkets & Hypermarkets

• Convenience Stores

• Online

• Others