The Global Vegan Ice Cream Market was at US$ 618.5 Mn in 2022 and is growing to approx US$ 1,724.8 Mn by 2032, with a CAGR growth of 10.8% between 2023 and 2032

AUSTIN, TEXAS, UNITED STATES, November 22, 2023 /EINPresswire.com/ -- According to the study, The Global Vegan Ice Cream Market was estimated at USD 618.5 Million in 2022 and is anticipated to reach around USD 1,724.8 Million by 2032, growing at a CAGR of roughly 10.8% between 2023 and 2032.

Report URL: https://www.custommarketinsights.com/report/vegan-ice-cream-market/

Global Vegan Ice Cream Market: Overview

The Vegan Ice Cream Market is a rapidly growing segment within the frozen dessert industry, offering plant-based, dairy-free alternatives to traditional ice cream. These products cater to consumers with dietary preferences, lactose intolerance, and environmental concerns.

Market growth is driven by factors such as increasing health awareness, sustainability, and a surge in demand for innovative flavors. Key players in the market continually introduce new dairy-free options and expand their retail presence. The convenience of e-commerce has also played a significant role in making vegan ice cream accessible to a broader consumer base, contributing to the market’s expansion.

Global Vegan Ice Cream Market: Growth Drivers

Vegan Ice Cream Market: Growth Factors and Dynamics

Health and Dietary Awareness: The vegan ice cream market is witnessing substantial growth due to a surge in health consciousness and dietary preferences among consumers. With an increasing number of individuals adopting plant-based diets, there’s a growing demand for non-dairy alternatives that align with their dietary choices and address health concerns, including lactose intolerance and allergies. This has led to a shift towards vegan ice cream, which offers a dairy-free, cruelty-free, and healthier dessert option.

Environmental Concerns: Rising awareness of the environmental impact associated with traditional dairy production has been a significant driver in the growth of the vegan ice cream market. Consumers are now more informed about the resource-intensive nature of dairy farming, such as land use, water consumption, and greenhouse gas emissions. This knowledge has led to a conscious choice among consumers to opt for vegan ice cream, which typically has a lower carbon footprint, reduced water usage, and a significantly lower impact on animal welfare, aligning with their environmental values.

Flavor Innovation: Manufacturers in the vegan ice cream industry are continuously investing in flavor innovation, offering a wide array of unique and diverse flavors, textures, and ingredients. This innovation has made vegan ice cream more appealing and competitive in the market, attracting not only vegans and lactose-intolerant consumers but also mainstream customers who are seeking novel and exciting taste experiences.

Retail Availability: The widespread availability of vegan ice cream products in mainstream grocery stores, supermarkets, and online marketplaces has significantly contributed to the market’s growth. The increased shelf space and accessibility of vegan ice cream brands have made it easier for consumers to incorporate these dairy-free alternatives into their regular shopping routines, further driving market expansion.

Dairy-Free Alternatives: The market growth has been bolstered by the development of improved dairy-free formulations used as bases for vegan ice cream. Ingredients such as almond, soy, coconut, and oat milk have significantly enhanced the taste and texture of these products. This has played a pivotal role in attracting a broader consumer base, including those who may have previously been sceptical about the taste and mouthfeel of dairy-free ice cream.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Vegan Ice Cream Market is estimated to grow annually at a CAGR of around 10.8% over the forecast period (2023-2032).
B) In terms of revenue, the Global Vegan Ice Cream Market size was valued at around USD 618.5 Million in 2023 and is projected to reach USD 1,724.8 Million by 2032. Due to a variety of driving factors, the Market is predicted to rise at a significant rate.
C) In 2020, Ben & Jerry’s, a Unilever subsidiary, further expanded its partnership with Netflix by launching a new ice cream flavor, “Boots on the Moooo’n.” The unique collaboration involves sending the ice cream into the stratosphere, creating a fun and innovative tie-in with the entertainment giant.
D) In 2019, Wells Enterprises acquired Halo Top, the low-calorie ice cream brand from Eden Creamery, expanding its portfolio to include five ice cream brands. This addition complements their existing brands, which include Blue Bunny, Bomb Pop, Blue Ribbon Classics, and Chilly Cow.
E) Supply Chain Disruptions: The COVID-19 pandemic caused extensive disruptions across global supply chains, profoundly affecting the vegan ice cream market. This disruption resulted in significant challenges related to the procurement of essential ingredients and packaging materials for vegan ice cream production. Delays in these crucial aspects consequently led to manufacturing bottlenecks, limiting production capacity, and affecting the market’s ability to meet the growing consumer demand.
F) Reduced Foodservice Sales: The closure of restaurants, cafes, and dessert shops during pandemic-related lockdowns and restrictions had a notable impact on the vegan ice cream market. Sales in the food service sector, which previously contributed significantly to the industry, experienced a sharp decline. As consumers adapted to new circumstances, the shift towards home consumption and grocery purchases became evident, changing the distribution and consumption patterns within the vegan ice cream market.

Press Release For Global Vegan Ice Cream Market: https://www.custommarketinsights.com/press-releases/vegan-ice-cream-market-size/

Regional Landscape

North America: In North America, the Vegan Ice Cream Market is witnessing a surge in demand due to increasing health-consciousness and ethical dietary choices. Consumers are gravitating towards plant-based options, with flavors like oat and almond milk gaining prominence. The market is also marked by the growing influence of sustainability, as brands prioritize eco-friendly packaging and ingredients.

Europe: In Europe, the Vegan Ice Cream Market is flourishing as consumers seek healthier indulgences. A notable trend is the rise of artisanal and small-batch producers offering unique and premium flavors. Sustainability remains a key focus, with companies exploring local and organic ingredients. Vegan gelato is gaining popularity, combining European tradition with plant-based innovation.

Asia-Pacific: The Asia-Pacific Vegan Ice Cream Market is expanding rapidly, driven by health-conscious consumers in countries like India and China. Coconut-based flavors are in high demand, with local variations catering to regional tastes. Innovative fusion flavors, such as matcha green tea and lychee, are also gaining traction. The market’s growth is further boosted by an increasing number of vegan-friendly restaurants and dessert shops.

LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the Vegan Ice Cream Market is experiencing gradual growth, with consumers showing growing interest in dairy-free options. Coconut and tropical fruit-based flavors are popular, aligning with regional tastes. There’s also a notable emphasis on local ingredients and traditional flavors, making vegan ice cream a blend of global health trends and local cultural preferences.

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Key Players

So Delicious Dairy Free
Tofutti Brands Inc.
Oatly AB
NadaMoo!
The Booja-Booja Company
Ben & Jerry’s
Coconut Bliss
Trader Joe’s
Häagen-Dazs
Nadamoo!
LUV Ice Cream
Bliss Unlimited LLC (Luna & Larry’s Coconut Bliss)
Snow Monkey
Re:THINK Ice Cream
Forager Project
Others

The Global Vegan Ice Cream Market is segmented as follows:

By Source

Coconut Milk
Soy Milk
Almond Milk
Cashew milk
Others

By Flavor

Caramel
Chocolate
Coconut
Coffee
Vanilla
Fruit
Others

By Sales Type

Impulse
Take Home
Artisanal

By Distribution Channel

Supermarket/Hypermarket
Specialty Store
Online
Others

Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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