Frozen yogurt is undergoing a significant resurgence, with servings in the U.S. rising 26% to approximately 87 million in the year ending March, according to Circana. This renewed interest is largely attributed to Generation Z, who are seeking healthier indulgence options, leading them to choose frozen yogurt over other desserts. New brands like Mimi's, Birdie's, Myka, and Mythos are catering to this demographic by offering artisanal toppings such as Italian-made pistachio sauce and creating attractive, "vibey" store atmospheres. This strategy allows them to charge premium prices, with some bowls selling for upward of $30.
TCBY, a pioneer in the frozen yogurt industry, founded in 1981, is also part of this resurgence, celebrating its 45th anniversary. While its store count significantly declined from a peak of 3,000 worldwide to around 168 domestic franchised locations by 2022, recent efforts to revitalize the brand by parent company Famous Brands International have led to positive same-store sales growth over the past five years. Pearl Street Equity acquired TCBY, with the brand now at 350 shops nationwide, and plans for international expansion, including Qatari malls, with over 10 locations planned over the next five years, starting in 2025.
The initial boom in frozen yogurt occurred in the late 1980s and early 1990s, with brands like TCBY positioning themselves as lower-calorie alternatives to ice cream amidst the aerobics craze. A second wave emerged in the 2000s with Pinkberry, Red Mango, and 16 Handles, focusing on better ingredients and tangy flavors. The current renaissance is characterized by the appeal of frozen yogurt as an "affordable luxury" and a "healthy-ish treat" that allows consumers to indulge without guilt, addressing the desire for "better choices," as noted by David Portalatin of Circana. Mimi's, for example, is profitable and planning expansion with a third location in Manhattan.
