IMARC Group, a leading market research company, has recently releases report titled “Vegan Ice Cream Market Report by Source (Coconut Milk, Soy Milk, Almond Milk, Cashew Milk), Flavor (Chocolate, Caramel, Coconut, Vanilla, Coffee, Fruit), Sales Type (Impulse, Take Home, Artisanal), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global vegan ice cream market share.
How Big Is the Vegan Ice Cream Market?
The global vegan ice cream market size reached US$ 671.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,006.4 Million by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Industry Overview of Vegan Ice Cream
Vegan ice cream is a frozen dessert that does not contain any animal-derived ingredients, such as dairy products, such as milk, eggs, and cream. It is made using plant-based milk alternatives like almond, coconut, soy, or cashew milk. It includes natural sweeteners, such as agave syrup or maple syrup, ensuring a delightful sweetness without the need for refined sugars. It has a creamy texture similar to traditional ice cream and is widely available in a wide variety of flavors, such as vanilla, mango, chocolate, butterscotch, blueberry, strawberry, and orange. It is a rich source of vitamins E and D, minerals, antioxidants, and healthy fats, and offers a dairy-free and cholesterol-free alternative to traditional ice cream. It also has lower levels of saturated fat that cater to those individuals seeking to reduce their saturated fat intake. It is cost-effective and suitable for people with lactose intolerance or dairy allergies. It assists in providing a creamy and flavorful experience without causing digestive discomfort to people. It aids in improving heart health and enhancing cholesterol levels among individuals. As it is beneficial for individuals looking to manage their weight due to its lower calorie content, the demand for vegan ice cream is increasing around the world.
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What are the growth prospects and trends in the vegan ice cream industry?
At present, the rising demand for healthier dessert alternatives among health-conscious individuals represents one of the significant factors strengthening the growth of the market. Apart from this, the increasing number of cafes, restaurants, hotels, resorts, clubs, and pubs across the globe is bolstering the market growth. Additionally, there is a rise in the demand for natural food products that have fewer preservatives, chemicals, or additives. This, coupled with increasing concerns about the environmental impact of animal agriculture among people, is offering lucrative growth opportunities to industry investors.
In line with this, the growing demand for vegan ice cream on account of the rising prevalence of lactose intolerance and dairy allergies among individuals, and the wide availability of vegan ice creams through supermarkets, hypermarkets, specialty stores, and online stores worldwide, is positively influencing the market. Moreover, the increasing adoption of ethically produced and cruelty-free products among eco-conscious people is contributing to the growth of the market. Besides this, the rising consumption of vegan ice creams, as they have antioxidants that can help protect cells from oxidative stress and support overall health, is supporting the market growth.
In addition, the introduction of innovative and exotic flavors, such as matcha green tea, lavender-infusion, hibiscus and rose, black sesame, taro root, Thai coconut curry, and cardamon and rosewater, is propelling the growth of the market. The escalating demand for vegan ice creams with lower sugar content, along with the increasing adoption of vegan ice creams with ingredients like nuts and fruits, is also offering a positive market outlook.
Leading Companies Operating in the Global Vegan Ice Cream Industry:
- Arctic Zero
- Booja-Booja
- Double Rainbow Ice Cream
- HappyCow
- Morrisons
- NadaMoo!
- Over The MOO
- Perry's Ice Cream
- SorBabes
- Tofutti Brands Inc.
- Unilever PLC
- Van Leeuwen Ice Cream
Vegan Ice Cream Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Source:
- Coconut Milk
- Soy Milk
- Almond Milk
- Cashew Milk
Breakup by Flavor:
- Chocolate
- Caramel
- Coconut
- Vanilla
- Coffee
- Fruit
Breakup by Sales Type:
- Impulse
- Take Home
- Artisanal
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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