Global Vegan Ice-Cream Market - Industry Trends and Forecast to 2029

Global Vegan Ice-Cream Market, By Source (Coconut Milk, Almond Milk, Cashew Milk, Soy Milk), Flavor (Vanilla, Chocolate, Butter Pecan, Strawberry, Neapolitan, Cookies and Cream, Mint Choco Chip, Caramel), Product (Impulse, Artisanal, Take Home), Form (Singles, Blends), Distribution Channel (Supermarkets, Convenience Stores, Food and Drink Specialists, Restaurants, Online Stores) – Industry Trends and Forecast to 2029.

Global Vegan Ice-Cream Market Analysis and Size

Vegan ice-cream is rich in high lipid substances, sugars, casein, nutrients, and energy. Vegan ice-cream delivers substantial amounts of fat and is rich in delicious flavours including dark chocolate, almond sea salt, cherry cashew, mint chip, raspberry, coffee hazelnut, and salted caramel.                    

• Data Bridge Market Research analyses that the vegan ice-cream market is expected to undergo a CAGR of 10.80% during the forecast period. This indicates that the market value, which was USD 595.26 million in 2021, would rocket up to USD 1,015.15 million by 2029. “Caramel” dominates the flavor segment of the vegan ice-cream market owing to the rising vegan population base globally.

Global Vegan Ice-Cream Market Definition

From the name itself, it is clear that vegan ice-cream is an ice cream products that is made out of began ingredients or in other words not involving the application of animal products. Vegan ice-cream is made using natural ingredients and resources such as almonds milk, soy milk, coconut milk, cashew milk, and rice milk. 

Report Scope and Market Segmentation

Vegan Ice-Cream Market Dynamics

Drivers

• Rising Demand for Flavours

Growing demand for a large number of flavours by ice cream lovers is one of the major factor fostering the growth of the market. In other words, the rise in availability of including mint chip, peanut butter, pistachio, strawberry, vanilla, fudge brownie, raspberry, coffee hazelnut, and salted caramel is bolstering the market growth rate.   

• Research and Development Proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies will further create lucrative market growth opportunities. Research and development proficiencies being conducted to study the health effects of vegan products on the immunity system is also bolstering the market growth rate.

• Growing Population Base

Surging vegan population base is fostering the growth of the market. Vegan ice-creams helps in improving digestion, strengthens the functioning of immunity system, improves blood pressure and much more. Moreover, rising awareness about animal cruelty is yet again bolstering the demand for vegan products.

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, changing lifestyle of individuals, increasing occurrences of lactose intolerance and milk-related allergies and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising personal disposable income and the introduction of new flavors along with technological advancement and introduction of additional healthy ingredients by different market players will further expand the market's growth rate in the future. 

Restraints/Challenges Global Vegan Ice-Cream Market

• Fluctuating prices 

Fluctuations or volatility in the prices of raw materials and machinery equipment is posing a major threat to the growth of the market. Further, uneven availability of raw materials at one particular location is demeaning the growth of the market.  Increasing competition and supply the increasing demand and low quality product development owing to inadequate manufacturing equipment and high cost of plant-based milk extraction will further derail the market growth rate.  

On the other hand, high cost associated with the research and development proficiencies is expected to obstruct market growth. Large scale availability of alternatives may hamper the growth of the market.

This vegan ice-cream market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vegan ice-cream market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Vegan Ice-Cream Market

COVID-19 has moderately impacted the market owing to the changes in the buying behaviour of the consumers, due to the enhanced awareness of their health, and increasing preference for lactose-free/vegan/plant-based foods including ice creams. Also, growing lactose intolerance while an expanding segment of consumers moving towards a vegan diet. However, with the increasing relaxations, a rise in import and export is significantly expected. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market.    

Recent Developments

• In 2022, Unilever's brand Ben & Jerry's launched two plant-based ice-creams which are "Chocolate Milk and Cookies", and "Dirt Cake". 
• In 2022, Little Red Rooster Ice Cream Company's brand NadaMoo launched Chocolate Chip Cookie Dough Flavor, a dairy-free ice cream. 
• In 2021, Oatly announced the launch of vegan ice cream bar line at 3,000 stores across the United States.The new ice cream bars are made with an oat milk base which is enrobed in a rich chocolate shell and available in four flavors: Chocolate Fudge, Strawberry Swirl, Salted Caramel, and Vanilla.

Global Vegan Ice-Cream Market Scope

The vegan ice-cream market is segmented on the basis of source, flavor, form, product, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Coconut Milk
• Almond Milk
• Cashew Milk
• Soy Milk

On the basis of source, the vegan ice-cream market is segmented into coconut milk, almond milk, cashew milk, and soy milk.

Flavor

• Vanilla
• Chocolate
• Butter Pecan
• Strawberry
• Neapolitan
• Cookies and Cream
• Mint Choco Chip
• Caramel

Based on flavor, the vegan ice-cream market is segmented into vanilla, chocolate, butter pecan, strawberry, neapolitan, cookies and cream, mint choco chip, and caramel.

Product

• Impulse
• Artisanal
• Take Home

On the basis of product, the vegan ice-cream market is segmented into impulse, artisanal, and take home.  

Form

• Singles
• Blends

Based on the form, the vegan ice-cream market is segmented into singles, and blends.

Distribution channel

• Supermarkets
• Convenience Stores
• Food and Drink Specialists
• Restaurants
• Online Stores

The vegan ice-cream market is also segmented on the basis of distribution channel. The distribution channel is segmented into supermarkets, convenience stores, food and drink specialists, restaurants, and online stores.

Vegan Ice-Cream Market Regional Analysis/Insights

The vegan ice-cream market is analysed and market size insights and trends are provided by country, source, flavor, form, product, and distribution channel as referenced above.

The major countries operating in the vegan ice-cream market are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Europe is anticipated to deliver potential growth to the vinegar market owing to the changing consumer preferences towards healthy lifestyle along with introduction of new flavours. Asia-Pacific will score a good growth rate during the forecast period owing to the rising personal disposable income.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Vegan Ice-Cream Market Share Analysis

The vegan ice-cream market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vegan ice-cream market.

Some of the major players operating in the vegan ice-cream market are:

• Bliss Unlimited, LLC. (US)
• General Mills Inc. (US)
• Wells Enterprises. (US)
• HAPPY COW LIMITED (India)
• McDonald's. (US)
• Nestlé S.A. (Switzerland)
• Tofutti Brands, Inc. (US)
• Unilever (UK)
• Morrisons Ltd (UK)
• BOOJA-BOOJA (US)
• Eden Creamery LLC. (US)
• Over The Moo (Australia)
• Waitrose & Partners (UK)
• DREAM (US)
• NADAMOO (US)
• Van Leeuwen Ice Cream LLC (US)
• Trader Joe's (US)
• Ben & Jerry's Homemade, Inc. (US)