The vegan ice cream market size has grown strongly in recent years. It will grow from $0.67 billion in 2023 to $0.72 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. During the historic period, growth can be attributed to shifts in demographics, cultural diversity, and evolving dietary preferences, as well as endorsements by celebrities and influencers, and the increasing inclusion of vegan options in restaurant menus and dessert offerings.
The vegan ice cream market size is expected to see strong growth in the next few years. It will grow to $0.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Looking forward to the forecast period, growth is expected to be driven by factors such as government regulations, competitive pricing strategies, the availability of allergen-free options, increased investment in marketing, and a wider variety of flavors. Key trends anticipated in the forecast period include ingredient innovation, advancements in product development, collaborations and partnerships within the industry, a focus on premium offerings, the integration of functional ingredients, and the adoption of innovative packaging solutions.
The rise in health consciousness is anticipated to drive the growth of the vegan ice cream market in the coming years. The increasing focus on health is fueled by heightened awareness about prevalent health issues such as obesity, smoking, mental health, and infectious diseases. Vegan ice cream plays a significant role in promoting health awareness by providing a dairy-free alternative with potentially lower cholesterol and saturated fat levels. Plant-based ingredients are perceived as healthier choices, appealing to individuals who are mindful of their dietary preferences and seek alternatives that support their health objectives. For example, according to an online survey conducted by the International Food Information Council in May 2022, which included 1,005 Americans aged 18 to 80, 52% of participants followed specific diets or eating patterns, a notable increase from 39% in 2021. Common dietary patterns this year included clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Hence, the surge in health awareness is fueling the expansion of the vegan ice cream market.
Key players in the vegan ice cream market are prioritizing the development of innovative products featuring sorbet centers to enhance their offerings and diversify their product portfolios. A sorbet center in ice cream comprises a flavorful, frozen, fruit-based filling encased within a creamy ice cream exterior. For instance, in February 2024, Magnum, a brand under Unilever PLC, a UK-based consumer goods company, introduced the vegan blueberry cookie ice cream with a sorbet center. This product boasts a vegan vanilla biscuit-flavored ice cream coated in vegan chocolate with crunchy cookie pieces, surrounding a fruity blueberry sorbet core, catering to individuals adhering to a vegan lifestyle.
In May 2023, Kale United AB, a plant-based holding company based in Sweden, acquired over 95% of Lily & Hanna Corporation for an undisclosed sum. This acquisition is poised to bolster Kale United AB's range of plant-based ice cream offerings and enhance its production and distribution capabilities for plant-based brands. Lily & Hanna Corporation is a Sweden-based vegan ice cream company.
Major companies operating in the vegan ice cream market are Nestlé S.A., McDonald's Corporation, The Hain Celestial Group Inc., Wells Enterprises, Ben & Jerry's Homemade Holdings Inc., Oatly Group AB, Jeni's Splendid Ice Creams, Perfect Day Inc., Perry's Ice Cream, Van Leeuwen Ice Cream, Tofutti Brands Inc., So Delicious Dairy Free, Coolhaus, Happy Cow Limited, NadaMoo, Bliss Unlimited LLC, Booja-Booja Company Ltd, Over The Moo, Frankie & Jo's LLC, Three Twins Organic Inc., Oat & Mill, McConnell's Fine Ice Creams.
North America was the largest region in the vegan ice cream market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan ice cream market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vegan ice cream market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Vegan ice cream refers to frozen desserts made without animal products, such as dairy or eggs. It uses plant-based alternatives such as almond, coconut, or soy milk, with various flavors and textures to cater to different dietary preferences. It serves as a delectable option for adherents of vegan, vegetarian, or plant-based diets.
The primary sources of vegan ice cream include coconut milk, almond milk, cashew milk, and soy milk. Coconut milk-based vegan ice cream stands out as a dairy-free frozen treat made from coconut milk, diverging from traditional cow's milk. It encompasses various product types such as impulse, artisanal, and take-home, available in formats such as singles and blends. Offered in a plethora of flavors such as vanilla, chocolate, butter pecan, strawberry, neapolitan, cookies and cream, mint chocolate chip, and caramel, vegan ice cream is accessible through diverse distribution channels, predominantly supermarkets, convenience stores, specialty food and beverage outlets, restaurants, and online platforms.
The vegan ice cream market research report is one of a series of new reports that provides vegan ice cream market statistics, including vegan ice cream industry global market size, regional shares, competitors with a vegan ice cream market share, detailed vegan ice cream market segments, market trends and opportunities, and any further data you may need to thrive in the vegan ice cream industry. This vegan ice cream market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vegan ice cream market consists of sales of vegan vanilla bean ice cream, vegan peanut butter chocolate ice cream, vegan cookie dough ice cream, and vegan strawberry ice cream. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The vegan ice cream market size is expected to see strong growth in the next few years. It will grow to $0.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Looking forward to the forecast period, growth is expected to be driven by factors such as government regulations, competitive pricing strategies, the availability of allergen-free options, increased investment in marketing, and a wider variety of flavors. Key trends anticipated in the forecast period include ingredient innovation, advancements in product development, collaborations and partnerships within the industry, a focus on premium offerings, the integration of functional ingredients, and the adoption of innovative packaging solutions.
The rise in health consciousness is anticipated to drive the growth of the vegan ice cream market in the coming years. The increasing focus on health is fueled by heightened awareness about prevalent health issues such as obesity, smoking, mental health, and infectious diseases. Vegan ice cream plays a significant role in promoting health awareness by providing a dairy-free alternative with potentially lower cholesterol and saturated fat levels. Plant-based ingredients are perceived as healthier choices, appealing to individuals who are mindful of their dietary preferences and seek alternatives that support their health objectives. For example, according to an online survey conducted by the International Food Information Council in May 2022, which included 1,005 Americans aged 18 to 80, 52% of participants followed specific diets or eating patterns, a notable increase from 39% in 2021. Common dietary patterns this year included clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Hence, the surge in health awareness is fueling the expansion of the vegan ice cream market.
Key players in the vegan ice cream market are prioritizing the development of innovative products featuring sorbet centers to enhance their offerings and diversify their product portfolios. A sorbet center in ice cream comprises a flavorful, frozen, fruit-based filling encased within a creamy ice cream exterior. For instance, in February 2024, Magnum, a brand under Unilever PLC, a UK-based consumer goods company, introduced the vegan blueberry cookie ice cream with a sorbet center. This product boasts a vegan vanilla biscuit-flavored ice cream coated in vegan chocolate with crunchy cookie pieces, surrounding a fruity blueberry sorbet core, catering to individuals adhering to a vegan lifestyle.
In May 2023, Kale United AB, a plant-based holding company based in Sweden, acquired over 95% of Lily & Hanna Corporation for an undisclosed sum. This acquisition is poised to bolster Kale United AB's range of plant-based ice cream offerings and enhance its production and distribution capabilities for plant-based brands. Lily & Hanna Corporation is a Sweden-based vegan ice cream company.
Major companies operating in the vegan ice cream market are Nestlé S.A., McDonald's Corporation, The Hain Celestial Group Inc., Wells Enterprises, Ben & Jerry's Homemade Holdings Inc., Oatly Group AB, Jeni's Splendid Ice Creams, Perfect Day Inc., Perry's Ice Cream, Van Leeuwen Ice Cream, Tofutti Brands Inc., So Delicious Dairy Free, Coolhaus, Happy Cow Limited, NadaMoo, Bliss Unlimited LLC, Booja-Booja Company Ltd, Over The Moo, Frankie & Jo's LLC, Three Twins Organic Inc., Oat & Mill, McConnell's Fine Ice Creams.
North America was the largest region in the vegan ice cream market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan ice cream market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vegan ice cream market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Vegan ice cream refers to frozen desserts made without animal products, such as dairy or eggs. It uses plant-based alternatives such as almond, coconut, or soy milk, with various flavors and textures to cater to different dietary preferences. It serves as a delectable option for adherents of vegan, vegetarian, or plant-based diets.
The primary sources of vegan ice cream include coconut milk, almond milk, cashew milk, and soy milk. Coconut milk-based vegan ice cream stands out as a dairy-free frozen treat made from coconut milk, diverging from traditional cow's milk. It encompasses various product types such as impulse, artisanal, and take-home, available in formats such as singles and blends. Offered in a plethora of flavors such as vanilla, chocolate, butter pecan, strawberry, neapolitan, cookies and cream, mint chocolate chip, and caramel, vegan ice cream is accessible through diverse distribution channels, predominantly supermarkets, convenience stores, specialty food and beverage outlets, restaurants, and online platforms.
The vegan ice cream market research report is one of a series of new reports that provides vegan ice cream market statistics, including vegan ice cream industry global market size, regional shares, competitors with a vegan ice cream market share, detailed vegan ice cream market segments, market trends and opportunities, and any further data you may need to thrive in the vegan ice cream industry. This vegan ice cream market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vegan ice cream market consists of sales of vegan vanilla bean ice cream, vegan peanut butter chocolate ice cream, vegan cookie dough ice cream, and vegan strawberry ice cream. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Vegan Ice Cream Market Characteristics3. Vegan Ice Cream Market Trends and Strategies32. Global Vegan Ice Cream Market Competitive Benchmarking33. Global Vegan Ice Cream Market Competitive Dashboard34. Key Mergers and Acquisitions in the Vegan Ice Cream Market
4. Vegan Ice Cream Market - Macro Economic Scenario
5. Global Vegan Ice Cream Market Size and Growth
6. Vegan Ice Cream Market Segmentation
7. Vegan Ice Cream Market Regional and Country Analysis
8. Asia-Pacific Vegan Ice Cream Market
9. China Vegan Ice Cream Market
10. India Vegan Ice Cream Market
11. Japan Vegan Ice Cream Market
12. Australia Vegan Ice Cream Market
13. Indonesia Vegan Ice Cream Market
14. South Korea Vegan Ice Cream Market
15. Western Europe Vegan Ice Cream Market
16. UK Vegan Ice Cream Market
17. Germany Vegan Ice Cream Market
18. France Vegan Ice Cream Market
19. Italy Vegan Ice Cream Market
20. Spain Vegan Ice Cream Market
21. Eastern Europe Vegan Ice Cream Market
22. Russia Vegan Ice Cream Market
23. North America Vegan Ice Cream Market
24. USA Vegan Ice Cream Market
25. Canada Vegan Ice Cream Market
26. South America Vegan Ice Cream Market
27. Brazil Vegan Ice Cream Market
28. Middle East Vegan Ice Cream Market
29. Africa Vegan Ice Cream Market
30. Vegan Ice Cream Market Competitive Landscape and Company Profiles
31. Vegan Ice Cream Market Other Major and Innovative Companies
35. Vegan Ice Cream Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Vegan Ice Cream Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on vegan ice cream market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for vegan ice cream ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vegan ice cream market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Source: Coconut Milk; Almond Milk; Cashew Milk; Soy Milk2) by Product: Impulse; Artisanal; Take Home
3) by Form: Singles; Blends
4) by Flavor: Vanilla; Chocolate; Butter Pecan; Strawberry; Neapolitan; Cookies and Cream; Mint Chocolate Chip; Caramel
5) by Distribution Channel: Supermarkets; Convenience Stores; Food and Drink Specialists; Restaurants; Online Stores
Key Companies Mentioned: Nestlé S.a.; McDonald's Corporation; The Hain Celestial Group Inc.; Wells Enterprises; Ben & Jerry's Homemade Holdings Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nestlé S.A.
- McDonald's Corporation
- The Hain Celestial Group Inc.
- Wells Enterprises
- Ben & Jerry's Homemade Holdings Inc.
- Oatly Group AB
- Jeni's Splendid Ice Creams, Perfect Day Inc., Perry's Ice Cream, Van Leeuwen Ice Cream
- Tofutti Brands Inc.
- So Delicious Dairy Free
- Coolhaus
- Happy Cow Limited
- NadaMoo
- Bliss Unlimited LLC
- Booja-Booja Company Ltd
- Over The Moo
- Frankie & Jo's LLC
- Three Twins Organic Inc.
- Oat & Mill
- McConnell's Fine Ice Creams
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 0.72 Billion |
Forecasted Market Value ( USD | $ 0.99 Billion |
Compound Annual Growth Rate | 8.4% |
Regions Covered | Global |