The latest research study “Vegan Ice Cream Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global vegan ice cream market reached a value of US$ 592.8 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 833.8 Million by 2027, exhibiting a CAGR of 5.45% during 2022-2027.
Vegan ice cream is a dessert made using plant-based ingredients, such as coconut, almond, cashew, and soy milk. It is free from animal-derived products and has a delicious taste and rich creaminess similar to its traditional counterparts. It is widely available in various flavors, including strawberry, vanilla, mint chip, dark chocolate, hazelnut, peanut butter, raspberry, fudge brownie, and pistachio. Nowadays, the leading manufacturers are offering vegan ice creams in different variants, such as ice cream sandwiches, fudge bars, drumsticks, and pint-sized containers, which is currently driving its demand across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Vegan Ice Cream Market Trends and Drivers:
The global vegan ice cream market is primarily driven by the shifting consumer inclination toward plant-based, animal-free, and ready-to-eat (RTE) foods. In addition, the rising trend of veganism due to the growing health consciousness and awareness regarding cruelty against animals has escalated the product demand.
Furthermore, several key players are launching premium vegan ice creams in exotic flavors, including lemon poppy seed, pink champagne, and chai tea coconut. In line with this, several product innovations, such as the introduction of gluten-free cones made from organic and natural ingredients with no artificial additives, have accelerated product adoption rates.
Other factors, including the increasing number of lactose-intolerant consumers, easy product availability via offline and online channels, aggressive promotional activities, elevating incomes, and celebrity endorsements, are also anticipated to propel the market growth.
|Vegan Ice Cream Market Report Scope|
|Market size value in 2021||US$ 592.8 Million|
|Market forecast in 2027||US$ 833.8 Million|
|Growth Rate||CAGR of 5.45% from 2022 to 2027|
|Base year for estimation||2021|
Global Vegan Ice Cream Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
List Of Major Key Players :
Arctic Zero, Booja-Booja, Double Rainbow Ice Cream, HappyCow, Morrisons, NadaMoo!, Over The MOO, Perry’s Ice Cream, SorBabes, Tofutti Brands Inc., Unilever PLC and Van Leeuwen Ice Cream.
The report has segmented the market on the basis of region, source, flavor, sales type and distribution channel.
Breakup by Source:
- Coconut Milk
- Soy Milk
- Almond Milk
- Cashew Milk
Breakup by Flavor:
Market Breakup by Sales Type:
- Take Home
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.