Market Overview:

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 growth rate (CAGR) of 5.45% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Vegan ice cream is prepared with soy, cashew, almond, coconut or other plant-based milk. It contains substantial amounts of fat and delivers delicious flavor and rich creaminess like conventional variants. It is widely available in numerous varieties, including pint-sized containers, ice cream sandwiches, drumsticks, and fudge bars. At present, market players are offering innovative flavors of vegan ice cream, including dark chocolate, almond sea salt, cherry cashew, mint chip, peanut butter, pistachio, strawberry, vanilla, fudge brownie, raspberry, coffee hazelnut, and salted caramel.

Vegan Ice Cream Market Trends:

The emerging trend of veganism on account of the rising health consciousness and increasing awareness among the masses about cruelty against animals represents one of the key factors bolstering the market growth. This can also be attributed to shifting individual preferences towards plant-based diets and animal-free, ready-to-eat (RTE) products. Apart from this, the growing lactose-intolerance population worldwide, in confluence with inflating per capita income levels, is catalyzing the demand for premium vegan ice cream in exotic flavors like lemon poppy seed, pink champagne, and chai tea coconut. In addition, key players operating in the industry are introducing innovative vegan ice cream variants, such as gluten-free cones, made using natural ingredients and without emulsifiers, artificial colors, and stabilizers. Furthermore, these players are also investing extensively in endorsements by celebrities and athletes and focusing on promoting their products through social media platforms and online retail channels to expand their global consumer base. This, along with the thriving e-commerce industry and numerous initiatives undertaken by non-government organizations (NGOs) to encourage the uptake of vegan food products, is anticipated to offer lucrative growth opportunities to industry investors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan ice cream market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, flavor, sales type and distribution channel.

Breakup by Source:

• Coconut Milk
• Soy Milk
• Almond Milk
• Cashew Milk
   

Breakup by Flavor:

• Chocolate
• Caramel
• Coconut
• Vanilla
• Coffee
• Fruit
   

Breakup by Sales Type:

• Impulse
• Take Home
• Artisanal
   

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others
   

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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global vegan ice cream market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global vegan ice cream market?
• What are the key regional markets?
• What is the breakup of the market based on the source?
• What is the breakup of the market based on the flavor?
• What is the breakup of the market based on the sales type?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global vegan ice cream market and who are the key players?
• What is the degree of competition in the industry?