The industry has been named as one of the biggest arenas for prospective entrepreneurs, according to research from online business advice firm Startups, which analysts have attributed to a more adventurous and health-conscious consumer.
Chris Brockman, analyst at market research firm Mintel, told FoodManufacture.co.uk: “Frozen yogurt has a number of things going for it. It is a healthier alternative to ice cream and is particularly well connected to young consumers through innovative flavours.
“A varied range of toppings has certainly been a massive part of its success. It is a very vibrant sector that appeals to consumers of all ages.”
Despite the growth in the sector, Brockman also pointed out that the UK market is still has a mountain to climb to reach the levels of success that the frozen yogurt industry sees in the US.
The UK retail frozen yogurt market is currently worth £4M, according to Brockman, whereas the US market is currently worth $200M.
“The US food frozen yogurt market is huge and has really boomed over the last few years. Compared with that, the UK market is fairly embryonic but I would expect that to change over the next few years,” Brockman added.
Startups’ research aims to examine the best business opportunities for the coming year and was compiled over two months, based on interviews with business leaders and entrepreneurs.
Steph Welstead, editor of Startups, said: “We have always argued that a recession (or its aftermath) can actually be a great time to start a business, and our new report supports this assertion.
“However, it’s important to stress that starting up in one of these sectors is by no means a guarantee of success.”
With any business, you need the right business model, pricing, location, product or service, people and attitude to make it work, added Welstead.
“We hope our report will inspire anyone thinking about becoming an entrepreneur in 2012.”
Frozen yogurt topped the list of best business opportunities for this year, which also included zumba and dance, cycling, crafts and the technology market.
Startups also revealed that independent coffee shops were expected to enjoy a renaissance in 2012.