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South Korea Frozen Yogurt Market

South Korea Frozen Yogurt Market

South Korea Frozen Yogurt Market, By Type (Dairy-based, Conventional, Lactose Free, Non-Dairy-based); By Flavor (Regular, Flavored); By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: July 2024
  • Report ID: BWC24565
  • Available Format: PDF
  • Page: 200

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.

South Korea Frozen Yogurt Market

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 Trend

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

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Type, Flavor, Distribution Channel

Key Players

NAMYANG DAIRY PRODUCTS CO., LTD, Maeil Co. Ltd, Danone Pulmuone Co., Ltd, Binggrae Co., Ltd

 

By Type

  • Dairy-based

  • Conventional

  • Lactose Free

  • Non-Dairy-based

By Flavor

  • Regular

  • Flavored

By Distribution Channel

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Online

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3.  South Korea Frozen Yogurt Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing Consumer Awareness Regarding Healthy Food Choices
        2. Increased Number of Lactose Intolerant People in South Korea
        3. Urbanization and Improved Living Standards
        4. Rising Disposable Income
      2. Restraints
        1. Seasonal Fluctuations in Demand
        2. Health and Nutrition Concerns About Sugar Content, Artificial Additives, and Calorie Levels
      3. Opportunities
        1. Emerging Markets in Developing Regions
        2. Collaborative Ventures with Other Food or Beverage Brands
      4. Challenges
        1. Supply Chain Disruptions
        2. Economic Uncertainty and its Impact on Consumer Spending
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. South Korea Frozen Yogurt Market: Marketing Strategies
  5. South Korea Frozen Yogurt Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share and Forecast
      1. By Type
        1. Dairy-based
        2. Conventional
        3. Lactose Free
        4. Non-Dairy-based
      2. By Flavor
        1. Regular
        2. Flavored
      3. By Distribution Channel
        1. Supermarkets & Hypermarkets
        2. Convenience Stores
        3. Online
        4. Others
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. South Korea Frozen Yogurt Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  7. Impact of Escalating Geopolitical Tensions on South Korea Frozen Yogurt Market
  8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. NAMYANG DAIRY PRODUCTS CO., LTD
    2. Maeil Co. Ltd
    3. Danone Pulmuone Co., Ltd
    4. Binggrae Co., Ltd
    5. Other Prominent Players
  9. Key Strategic Recommendations
  10. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       South Korea Frozen Yogurt Segmentation

Figure 2       South Korea Frozen Yogurt Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       South Korea Frozen Yogurt Market Size, By Value (USD Million), 2019–2030

Figure 5       South Korea Frozen Yogurt Market Share, By Type, By Value, 2019–2030

Figure 6       South Korea Frozen Yogurt Market Share, By Flavor, By Value, 2019–2030

Figure 7       South Korea Frozen Yogurt Market Share, By Distribution Channel, By Value, 2019–2030

 

List of Tables

 

Table 1        South Korea Frozen Yogurt Market Size, By Value (USD Million), 2019–2030

Table 2       South Korea Frozen Yogurt Market Share, By Type, By Value, 2019–2030

Table 3        South Korea Frozen Yogurt Market Share, By Flavor, By Value, 2019–2030

Table 4        South Korea Frozen Yogurt Market Share, By Distribution Channel, By Value, 2019–2030

Table 5        NAMYANG DAIRY PRODUCTS CO., LTD  Company Overview

Table 6        NAMYANG DAIRY PRODUCTS CO., LTD  Financial Overview

Table 7        Maeil Co., Ltd Company Overview

Table 8        Maeil Co., Ltd  Financial Overview

Table 9        Danone Pulmuone Co.,Ltd  Company Overview

Table 10      Danone Pulmuone Co.,Ltd Financial Overview

Table 11      Binggrae Co., Ltd Company Overview

Table 12      Binggrae Co., Ltd Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: South Korea Frozen Yogurt Market size was estimated at USD 4,175.8 million in 2023.
Ans: During the forecast period between 2024 and 2030, South Korea Frozen Yogurt market size is expected to grow at a CAGR of 5.10% reaching a value of USD 5,876.7 million by 2030.
Ans: Major factors driving the growth of South Korea Frozen Yogurt Market include increasing consumer awareness regarding healthy food choices and increased number of lactose intolerant people in South Korea.
Ans: Key players in South Korea Frozen Yogurt Market include NAMYANG DAIRY PRODUCTS CO., LTD, Maeil Co. Ltd, Danone Pulmuone Co., Ltd, and Binggrae Co., Ltd.
Ans: The dairy-based segment holds the highest market share in South Korea Frozen Yogurt Market by type.
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