Global Vegan Ice Cream Market Analysis
The Vegan Ice Cream Market is projected to reach US$ 1.05 billion by 2032, up from US$ 704.97 million in 2023, with a CAGR of 4.60 percent from 2024 to 2032.
Vegan Ice Cream Industry Definition
Vegan ice cream, a plant-based frozen dessert, is not just a dietary choice, but a delightful indulgence that aligns with vegan dietary standards. It utilizes non-dairy alternatives such as coconut milk, almond milk, or soy milk as the base, making it suitable for vegans and those with lactose intolerance or dairy allergies. The characteristics of vegan ice cream, including its rich, creamy texture, are achieved through careful selection and balancing of non-dairy fats and sweeteners. Coconut cream, for instance, closely mimics the natural properties of milk, offering a high fat content and thick viscosity that contribute to the creaminess of the ice cream. Despite the absence of dairy, vegan ice cream aims to replicate the indulgent experience of traditional dairy-based ice cream, offering a guilt-free treat that caters to a wide audience seeking dairy-free options without compromising on taste or enjoyment. Moreover, by choosing vegan ice cream, consumers are not only making a positive impact on their health but also on the environment, contributing to a more sustainable future.Innovation in Flavors and Ingredients fuels the Vegan Ice Cream Industry.
The vegan ice cream industry is booming, driven by a plethora of innovative flavors and ingredients. Traditional dairy alternatives like almond, soy, and coconut milk are now joined by oats, cashews, and hemp bases, offering diverse textures and tastes. Unique flavors like matcha green tea, lavender honey, turmeric chai, and reimagined classics cater to the most discerning palates. Natural sweeteners like agave and coconut sugar enhance flavors while maintaining health benefits. Superfoods and unique additives like spirulina and adaptogens boost nutrition and appeal to health-conscious consumers. This ongoing innovation attracts vegans and those seeking healthier, ethical dessert options, fueling industry growth. In Feb 2024, Magnum launched vegan Blueberry Cookie Ice Cream With Sorbet Centre. Unilever-owned ice cream brand Magnum has expanded its plant-based range with new Chill Blueberry Cookie ice cream sticks.
The prevalence of dairy allergies and lactose intolerance is increasing in the general population.
The demand for vegan ice cream is surging due to the increasing prevalence of dairy allergies and lactose intolerance. This has prompted a shift towards plant-based alternatives, such as non-dairy milk (e.g., almond, coconut, oat milk) and ice cream. The popularity of vegan ice cream is driven by growing consumer awareness about health and wellness, alongside a broader trend towards plant-based diets. Retailers and manufacturers are expanding their vegan ice cream lines to meet the diverse tastes of consumers. This trend caters to dietary restrictions and appeals to a broader audience looking for healthier, environmentally friendly choices. Furthermore, in October 2023, Michelin Star pastry chef Olivia Green's 'Crème de la Crop,' a new vegan ice cream shop, received a national award from PETA, further validating the health benefits of vegan ice cream.
The rise in obesity is leading to a growing demand for vegan ice cream worldwide.
The prevalence of obesity-related diseases such as diabetes and cardiovascular conditions has increased in recent years, with a projected rise in obesity rates worldwide by 2030. Affluent regions like North America and Western Europe are experiencing higher susceptibility to these health issues due to unhealthy eating habits and lack of physical activity. As a result, there is a growing demand for vegetarian food products, with a significant portion of Americans choosing to exclude meat from their diet and opt for plant-based meat substitutes. This shift in consumer preferences is leading to the expansion of the global vegan ice cream market.
Asia-Pacific vegan ice cream market
The Asia-Pacific ice cream market is growing due to higher disposable incomes and a preference for high-quality products. Increasing demand for ice cream and frozen desserts in the region, particularly in countries like India, Japan, New Zealand, and China, is driving this growth. China's ice cream market is primarily influenced by changing dietary habits, rising disposable incomes, and a growing middle-class population. The increase in per capita disposable income and the growth of the middle-income population group in China present opportunities for developing premium and artisanal ice cream brands in the country.Japanese consumers enjoy traditional flavors like matcha, black sesame, cherry blossom and more adventurous options such as squid ink and wasabi. Manufacturers are constantly introducing new and unique flavors to cater to diverse preferences. In March 2024, Eclipse Foods launched its plant-based ice cream in Japan as eclipseco, featuring flavors like Cookie Butter Crumble, Classic Chocolate, and Mango Passion Fruit, now available at Family Mart stores in Tokyo. Kaori Onguchi, the company's country manager for Japan, sees this as a significant milestone and just the beginning of their journey in Japan.
Vegan Ice Cream Company Analysis
The prominent players in the vegan ice cream market are Unilever PLC, Tofutti Brands Inc., Van Leeuwen Ice Cream, SorBabes, Perry's Ice Cream, NadaMoo!, Over The MOO, Morrisons, HappyCow, and Double Rainbow Ice Cream.Vegan Ice Cream Company News
Over The Moo, a plant-based ice cream brand introduced a new chocolate flavor to its coconut-based ice cream treats in the UK in May 2024.December 2023, Salt & Straw is bringing back the Dairy Free Decadence Series, featuring five vegan ice cream flavors for a limited time. The flavors will be available in-store and for online orders.
May 2023: Häagen-Dazs has launched a new line of plant-based frozen treats in London, Ontario. These oat-based products are vegan-approved.
March 2023: Booja-Booja has relaunched its dairy-free ice cream collection with four new flavors and three updated recipes. The new flavors are cookie dough, mango and raspberry, intensely chocolate, chocolate fudge brownie, and improved editions of three existing varieties. The ice creams are all organic, vegan, dairy-free, soya-free, gluten-free, and kosher.
In 2022, Ben & Jerry’s teams up with Tony’s Chocolonely to combat modern slavery in chocolate production by adopting Open Chain principles to enhance working conditions for farmers.
Source- Global Vegan Ice Cream Market
1. Coconut Milk2. Soy Milk
3. Almond Milk
4. Cashew Milk
Flavor- Global Vegan Ice Cream Market
1. Chocolate2. Caramel
3. Coconut
4. Vanilla
5. Coffee
6. Fruit
Sales Type- Global Vegan Ice Cream Market
1. Impulse2. Take Home
3. Artisanal
Distribution Channel- Global Vegan Ice Cream Market
1. Supermarkets and Hypermarkets2. Convenience Stores
3. Online Stores
4. Others
Country - Market break up in 25 viewpoints
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Company is breakup into 3 viewpoints
- Overview
- Recent Development & Strategies
- Financial Insight
Company
1. Unilever PLC2. Tofutti Brands Inc.
3. Van Leeuwen Ice Cream
4. SorBabes
5. Perry's Ice Cream
6. NadaMoo!
7. Over The MOO
8. Morrisons
9. HappyCow
10. Double Rainbow Ice Cream
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Vegan Ice Cream Market
4. Market Dynamics
6. Market Share
7. Source
8. Flavor
9. Sales Type
10. Distribution Channel
11. Country- Global Vegan Ice Cream Market
12. Porter’s Five Analysis
13. SWOT Analysis
14. Key Players Analysis
Companies Mentioned
- Unilever PLC
- Tofutti Brands Inc.
- Van Leeuwen Ice Cream
- SorBabes
- Perry's Ice Cream
- NadaMoo!
- Over The MOO
- Morrisons
- HappyCow
- Double Rainbow Ice Cream
- Booja-Booja
- Arctic Zero
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 0.7 Billion |
| Forecasted Market Value ( USD | $ 1.06 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
