Global Vegan Ice-cream Market Size - Industry Trends & Outlook Report 2027
Global Vegan Ice-cream Market is estimated to be USD by 2027 from USD in 2016, at a CAGR of from 2021 to 2027. The vegan ice cream market growth is determined by the rise in the number of vegan and diet-conscious consumers worldwide.
Lactose intolerance is increasing due to the lack of the intestinal enzyme lactase fuels the demand for dairy-free or vegan food products. Vegan ice cream has been gaining increased acceptance in the mature and developing market. This can be attributed to an increase in the number of people allergic to dairy products. Furthermore, development in health consciousness and an increase in disposable income have increased the vegan ice cream market's growth.
Source: BlueWeave Consulting
Global Vegan Ice-cream Market: Market Outlook and Trends
Vegan ice cream is made from many sources such as almond milk, soymilk, coconut milk, cashew milk, and rice milk. It is presented in various flavors such as coconut, caramel, chocolate, coffee, vanilla, and diverse fruit flavors. Rush in demand for dairy-free products by the vegan population and the introduction of new flavors & varieties of vegan ice cream is expected to provide lucrative chances for expanding the global vegan ice cream market. The development of the vegan ice cream market is attributed to a rise in the number of vegan & diet-conscious consumers worldwide. Variation in raw materials prices and the high cost of plant-based milk removal acts as the global market's significant limits.
Global Vegan Ice-cream Market
Innovation to Fuel Dairy-Free Ice Cream Market
Plant-based dairy substitute allergies and intolerances are the main reasons behind going dairy-free, especially seeing the food allergy initiative's statistic that cow's milk allergy is the foremost food allergy in babies and children. Due to the rising awareness regarding plant-based dairy-free products, customers are keen to opt for dairy-free ice cream. This has led vital players to devote their research and development to dairy-free frozen desserts. Rising lactose, intolerance and growing awareness concerning the implications of Celiac Disease are pushing consumers to purchase dairy-free products while an increasing segment of consumers moving towards a vegan diet is worsening the market growth.
The past few years have observed a rise steeply in supermarkets/hypermarkets shelves with vegan ice cream. More and more convenience store chains seek to tap into the area of vegan ice cream through business-to-business e-commerce with an increasing digital wholesale marketplace. The boom of urbanization has played an essential role in the hastening of the vegan ice cream market. As projected by the UN (United Nations), around 68% of the global population is predicted to live in urban areas against 55% in 2018, which would increase the exposure of veganism. Growing urbanization is one of the critical issues that foretell the possibility of the global vegan ice cream market.
Impact of COVID-19 in industry
Since the COVID-19 virus eruption in December 2019, the disease has a feast to almost 100 countries worldwide with the World Health Organization stating it a public health crisis. The global effects of the coronavirus disease 2019 (COVID-19) are already starting to be felt and will implicitly affect the Liquor Flavored Ice Cream market in 2020.
COVID-19 can affect the worldwide economy in three main ways: by directly influencing production and demand, by making supply chain and market disturbance, and by its financial influence on firms and financial markets.
The eruption of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events limited; over forty countries' state of emergency declared. Massive slowing of the supply chain; stock market instability; falling business confidence, rising panic among the population, and doubt about the future.
Global Vegan Ice-cream Market: Segmentation
The global vegan ice cream market is fragmented into the source, flavor, sales type, distribution channel, and region. Based on the source, the market is characterized by coconut milk, soymilk, almond milk, and cashew milk. It is categorized into caramel, chocolate, coconut, coffee, vanilla, and fruit by flavor. Conditional on sales type, it is fragmented into the impulse, take home, and artisanal. It is distinguished into supermarket/hypermarket, convenience stores, and online in terms of distribution channels. It is examined across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Depending on the source, the almond milk segment was the top category in 2019 and is predicted to continue leading during the forecast period. However, the coconut milk section is expected to grow at a notable CAGR of 12.9% throughout the prediction period.
Based on flavor, the caramel flavor segment was the highest donor to the market in 2019. However, the fruit flavor segment is likely to grow at a higher growth rate during the estimated period.
Based on the distribution channel, Hypermarket/Supermarket was the dominant segment in 2019 and is likely to notable spectator growth during the prediction period.
Global Vegan Ice-cream Market: Regional Insights
Region-wise, Europe ruled the vegan ice cream market. However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period. Growing consumer mindfulness about health issues due to lactose in the milk drives the vegan ice cream market size. Other key reasons, such as the increase in requests for vegan food, due to rising health consciousness and increasing vegan population, also result in turn to dairy alternatives. Requests for non-dairy ice creams such as almond and coconut-based ice creams are leading in the United States, as dairy alternatives are not strictly advertised to consumers with unique dietary supplies but appeal to a broader health-conscious consumer base. The trend of maximizing nutrition identifications in dairy-free products such as ice creams by multiplying natural ingredients has surely elevated the market size in the country.
Source: BlueWeave Consulting
The leading players in the Global Vegan Ice-cream Market include Unilever, General Mills, The Whitewave Foods Company (Denon), Hain Celestial Group, Bliss Unlimited, LLC, High Road Craft Brands, Alden’s Organic, Whole Foods Market IP. L.P., Tofutti Brands, Inc., and Trader Joe’s, Amy’s Kitchen, Double Rainbow Ice Creams, Inc., Wells Enterprises, Inc., NadaMoo! Booja-Booja, Happy Cow Limited, Over The Moo, Swedish Glace, ARCTIC ZERO, Inc. Perry’s Ice Cream, Coolhaus, SorBabes, and Beyond Better Foods, LLC. and other prominent players.
· July 2020, Unilever, and OYO launch partnership for enhanced hotel hygiene. Unilever is providing hygiene kits for guests and hygiene education and products for hospitality workers at select OYO properties in India, as part of the homes and hotels company’s ‘Sanitized Stays’ initiative.
· Le Mars, Iowa – September 3, 2019 — Wells Enterprises, Inc. has signed a purchase agreement with Unilever for its ice cream manufacturing plant located in Henderson, Nevada. This purchase will expand Wells’ current manufacturing capacity and diversify its ability to support customers geographically to help meet future demand and adds an important footprint in the West.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia.
By Source, By Flavour, By Sales Type, By Distribution Channel, By Region
The leading players considered for market analysis are Unilever, General Mills, The Whitewave Foods Company (Denon), Hain Celestial Group, Bliss Unlimited, LLC, High Road Craft Brands, Alden’s Organic, Whole Foods Market IP. L.P., Tofutti Brands, Inc., and Trader Joe’s, Amy’s Kitchen, Double Rainbow Ice Creams, Inc., Wells Enterprises, Inc., NadaMoo! Booja-Booja, Happy Cow Limited, Over The Moo, Swedish Glace, ARCTIC ZERO, Inc. Perry’s Ice Cream, Coolhaus, SorBabes, and Beyond Better Foods, LLC, many others
· By Source
ü Coconut Milk
ü Soy Milk
ü Almond Milk
ü Cashew milk
· By Flavour
· By Sales Type
ü Take Home
· By Distribution Channel
ü Convenience Stores
· By Region
ü North America
ü Asia Pacific
ü South America
ü Middle East & Africa