Plant Based Ice-Cream Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033

Plant Based Ice-Creams are Becoming Popular in Terms of Quality, Health & Environmental Awareness

One of the main factors driving the market expansion is the new vegan trend that has emerged in response to growing health consciousness and public awareness of animal cruelty. This may also be a result of changing consumer preferences for plant based diets and ready-to-eat foods. In addition, the demand for premium plant based ice-cream in unique flavours like lemon poppy seed, pink champagne, and tea coconut is being fuelled by the rising lactose-intolerance population around the world, which is coexisting with rising per capita income levels. Additionally, major players in the market are launching innovative plant based ice-cream variations, like gluten-free cones, created with natural ingredients and free of stabilisers, emulsifiers, and artificial colours. Plant based ice-cream can help in weight loss, reduce the risk of heart disease, and enhance the texture of skin. Due to its health benefits, the products in the global market for plant based ice-cream also known as vegan ice-cream are in great demand. They come in a variety of tastes like nuts, beans, fruits and herbs. In both developed and developing countries around the world, millennials and gen Z are becoming more and more interested in plant based ice-creams.

Market Expansion will be Fuelled by Rising Vegan Consumers

Asia-Pacific is anticipated to rise significantly over the forecast period due to increased consumer demand for plant based desserts and rising occurrences of digestive diseases like lactose intolerance in this region. As online retailers offer a wide selection of plant based ice-creams. Increasing plant based ice-cream sales, particularly through online platforms, will boost the growth rate of the plant based ice-cream market. Due to a shift in consumer preferences from dairy-based plant based ice-cream to non-dairy-based plant based ice-cream products, North America dominates the plant based ice-cream market and will do so throughout the forecast period. The market's growth rate in this region will also be accelerated by product development, a high level of disposable income and the availability of numerous varieties of plant based ice-creams.

Pricing for Plant Based Ice-Cream Products is Likely to be a Challenge

The high cost of these products in the global plant based ice-cream market, when compared to traditional products, is a major restraint on the market. Plant based ice-creams are far more difficult to formulate than traditional ice-cream, which results in higher manufacturing costs. Because more ingredients are needed to provide the desired flavours and textures when dairy is removed from ice cream, food labels become even more confusing as a result. These elements could potentially pose a threat to the plant based ice-cream market. The market's growth rate will be slowed by growing concerns over the product's high sugar and fat content; nonetheless, increased demand for these products is expected in the next few years. Plant based ice-creams are gaining popularity despite their relatively high price tag as compared to conventional ice cream and formulation challenges.

Plant Based Ice-Cream Market Segmentation

The global plant based ice-cream market is segmented on the basis of form, source, flavour, packaging type and sales channel.

On the basis of Form:

·         Singles

·         Blends

On the basis of Source:

·         Cashew Milk

·         Almond Milk

·         Coconut Milk

·         Soy Milk

·         Rice Milk

·         Others

On the basis of Flavour:

·         Raspberry

·         Orange

·         Strawberry

·         Banana

·         Almond

·         Hazelnut

·         Cinnamon

·         Peppermint

·         Coffee

·         Chocolate

·         Vanilla

·         Others

On the basis of Packaging Type:

·         Cones

·         Tubs

·         Cups

·         Bars

·         Bag / Sachet

·         Others

On the basis of Sales Channel:

·         Supermarkets

·         Online Stores

·         Franchise Outlet

·         Convenience Stores

·         Health Food Stores

·         Other Retail Formats

Increased Investment is Expected to Enhance Market Growth for Plant Based Ice-Creams

The global market for plant based ice-cream is expanding as a result of companies' efforts to develop and introduce fresh "clean label" and "label-free" ice-cream products. To reach consumers across geographic boundaries, major companies are concentrating on e-commerce and online marketing in an effort to increase market position. A new plant based ice-cream brand ROAR was introduced by Froneri International Ltd. in 2020, the UK-based joint venture for ice cream that is owned by Nestlé S.A. and R&R Ice Cream. Oatly US launched a range of plant based ice-cream bar in 2021; the new ice-cream bars are covered in a thick layer of chocolate and feature an oat milk base. They come in four flavours: salted caramel, vanilla, strawberry swirl and chocolate fudge. "Chocolate Milk and Cookies" and "Dirt Cake," are the two plant based ice-cream flavours, introduced in 2022 by the Ben & Jerry's Homemade, Inc. The dairy-free ice-cream Chocolate Chip Cookie Dough Flavor was launched in 2022 by the NADAMOO! A number of established ice cream producers are entering the new market as innovation becomes more important to remain on top of current developments and trends to boost profit margins. The demand for plant based ice-creams is anticipated to remain high as research into the benefits of a vegan diet for health and longevity continues.

The top producers of plant based ice-creams are: Unilever, Arctic Zero, boojabooja, Double Rainbow Ice Cream, HAPPY COW LIMITED, NADAMOO!, Over The MOO, Perry's Ice Cream, SorBabes, Tofutti Brands, Inc., Van Leeuwen Ice Cream.

Plant Based Ice-Cream Market is Being Driven by the Nutritional Benefits

The increased desire for desserts with low sugar content and less processed ingredients from the population of health and fitness enthusiasts will have a favourable impact on the expansion of the global plant based ice-cream market in the upcoming years. Plant based and organic meals are becoming more popular as consumers become aware of the deeper connections between diet, health and the environment. In addition to replacing commonly consumed foods, plant based and organic alternatives are now being used in beverages and even in frozen desserts like ice-creams. Additionally, increasing sales of plant based ice-creams are being boosted by rising demand for non-dairy desserts, Keto-friendly ice-cream cakes, and fruit bars for a variety of uses (snacks, protein, energy, etc.). Consumer demand for immunity-boosting products and other health-beneficial fortified products increased as a result of the pandemic, prompting major companies to improve the composition of their ice-cream products by using organic ingredients, making them cholesterol-free, and introducing vegan variants without additional preservatives or additives.

The report provides a detailed overview of the plant based ice-cream market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for plant based ice-cream market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the plant based ice-cream market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the plant based ice-cream market. Some key country and region included in the plant based ice-cream market report as follows:

North America (U.S., Canada)

Latin America (Mexico, Argentina, Brazil, Peru, Chile)

Europe (Germany, France, Italy, U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)

Asia Pacific (China, ASEAN, India, Japan, South Korea)

Oceania (Australia, New Zealand)

Middle East and Africa (South Africa, GCC Countries, Turkey, Israel, Iran)

The Plant Based Ice-Cream Market Research Report Covers In-depth Analysis on:

·         Plant based ice-cream market segments

·         Plant based ice-cream market dynamics

·         Plant based ice-cream market value and share analysis

·         Recent trends, restraints, opportunities in plant based ice-cream market

·         Companies & competition involved plant based ice-cream market

·         Latest technologies in plant based ice-cream market

·         Supply chain and value chain plant based ice-cream market

·         Plant based ice-cream market sales and distribution strategies

Plant Based Ice-Cream Market Growth Highlights:

·         A comprehensive overview of parent market

·         Market dynamics, demand and trends in the industry

·         Current, historical and anticipated market size in terms of volume

·         In-depth market segmentation

·         Competition landscape

·         Key strategies of leading companies and product portfolio

·         Plant based ice-cream industry trends and developments

·         Potential and country, regions and segments exhibiting future growth

·         A detailed viewpoint on plant based ice-cream market forecast by countries

·         Essential information to enhance market position