What Is The Current and Historic Market Size Analysis Of The Vegan Ice Cream Market?
The vegan ice cream market has seen considerable growth due to a variety of factors.
• The vegan ice cream market has grown steadily in recent years. It will increase from $0.72 billion in 2024 to $0.78 billion in 2025, with a CAGR of 8.6%.
This growth can be attributed to changing demographics, growing cultural diversity and dietary preferences, celebrity endorsements, and the inclusion of vegan ice cream on restaurant and dessert menus.
What Is The Forecast For The Vegan Ice Cream Market Size?
The vegan ice cream market is expected to maintain its strong growth trajectory in upcoming years.
• The vegan ice cream market is projected to reach $1.07 billion by 2029 with a CAGR of 8.2%.
Growth is driven by government regulations, allergen-free options, price competitiveness, and flavor variety. Trends include ingredient innovation, product development, collaborations, premiumization, and new packaging solutions.
What Are The Essential Drivers Behind The Growth Of The Vegan Ice Cream Market?
Increased health consciousness is anticipated to boost the vegan ice cream market's expansion. The rising focus on health comes from the growing cognizance of critical health concerns such as obesity, smoking, mental health issues, and contagious illnesses. Vegan ice cream contributes to this health consciousness by offering an alternative to dairy that potentially contains less cholesterol and saturated fat. Plant-based elements are seen as healthier alternatives, attracting those who are mindful of their dietary decisions and pursuing options that suit their health objectives. For instance, in an online poll conducted in May 2022 by the International Food Information Council, a non-profit organization based in the US, out of 1,005 American respondents aged between 18 and 80, 52% stated they adhere to a specific diet or eating pattern, an increase from 39% in 2021. This year's most popular diets or eating patterns include clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Thus, the surge in health consciousness is fuelling the progression of the vegan ice cream market.
How Is The Global Vegan Ice Cream Market Divided Into Key Segments?
The vegan ice cream market covered in this report is segmented –
1) By Source: Coconut Milk, Almond Milk, Cashew Milk, Soy Milk
2) 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
Subsegments:
1) By Coconut Milk: Full-Fat Coconut Milk, Light Coconut Milk, Coconut Cream
2) By Almond Milk: Sweetened Almond Milk, Unsweetened Almond Milk, Flavored Almond Milk
3) By Cashew Milk: Sweetened Cashew Milk, Unsweetened Cashew Milk, Flavored Cashew Milk
4) By Soy Milk: Organic Soy Milk, Non-Organic Soy Milk, Flavored Soy Milk
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How Are Emerging Trends Reshaping The Dynamics Of The Vegan Ice Cream Market?
Leading businesses in the vegan ice cream market are emphasizing the introduction of innovative products featuring sorbet centers in order to diversify and expand their product range. A sorbet center in ice cream adds a fruity, frozen treat encased in a lush ice cream shell. For instance, in February 2024, Magnum, a brand owned by the UK-based consumer goods company, Unilever PLC, unveiled its vegan blueberry cookie ice cream containing a sorbet center. This product incorporates a vegan vanilla biscuit-flavored ice cream enveloped in a vegan chocolate layer with crispy cookie bits and a tangy blueberry sorbet core, thereby catering to those maintaining a vegan lifestyle.
Who Are the Key Players In The Vegan Ice Cream Market?
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
What Are The Regional Insights Into The Vegan Ice Cream Market?
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.
