Asia Pacific Plant Based Ice Creams Market

Asia Pacific Plant Based Ice Creams Market Size and Growth Analysis:

Asia Pacific market was valued at 0.67 billion in 2021 and is expected to reach USD 1.07 billion by 2027 with a CAGR of 9.8% with in the forecast period.

Asia Pacific Plant Based Ice Creams market Overview:

Plant-based ice cream is ice cream that is completely free of animal products such as egg and milk i.e. made with no animal products whatsoever. The ice cream base is made up of various plant-based milk such as coconut milk and house-made cashew milk. The healthy fats from these plant milk lend themselves wonderfully to a creamy texture that's just as delicious as dairy ice cream. A growing number of lactose intolerant consumers is a key factor driving the market growth. In addition, higher protein content in plant-based ice-creams makes them a healthier option among ice-creams. Due to the increasing demand for these ice creams, the producers of plant-based ice-creams are focused on improving the taste of these ice-creams by introducing the consumers to a wide variety of flavors. High processing charges are associated with the preparation of plant-based ice creams, as most of the raw materials are processed and formulated through different high energy consuming machinery. Moreover, the most frequently used milk in plant-based ice creams is soya milk, which has some adverse effects. For instance, soy milk can cause allergies in some people. Its taste is also not preferred among consumers. According to Cornell University, there is an increased risk of breast cancer in some women who consume soy food and most of the plant-based ice creams manufacturers use soy milk as their major creaming ingredient. This particular factor may act against market growth.

Asia Pacific Plant Based Ice Creams market Segmentation:

The Asia Pacific Plant-based ice-creams market is segmented into

• product source

• packaging

• distribution channel

On the basis of the product

• Soy milk based

• coconut milk based

• almond milk based

• cashew milk

• rice milk based

Soymilk based ice-cream is the largest segment followed by almond milk ice-creams. As soy milk-based ice cream is easily available and has cheaper prices as compared to almond, coconut, and other raw material based ice-cream. Almond-based ice-creams are expected to witness the highest CAGR in the coming years.

On the basis of package type,

• tub

• bag/sachet

On the basis of the distribution channel,

• supermarkets/hypermarkets

• convenience stores

• specialist stores

• health food stores

• independent retailers

• e-retailers

• Supermarket/hypermarket 

Asia Pacific Plant Based Ice Creams market geographical Analysis

• India

• China

• Japan

• South Korea

• AustraliaThe 

Asia-pacific region accounts for the largest share and is also expected to witness the highest CAGR in the coming years due to an increase in the population who are lactose intolerant. Consumers are shifting their preferences towards almond-based ice- cream as it consists of high nutritional values and tastes better than soy milk ice cream.

Asia Pacific Plant Based Ice Creams market Key players:

1. Coconut Collaborative

2. Swedish Glace

3. Booja-Booja

4. Turtle Mountain’s

5. Frankie & Jo’s

6. Smooze

7. Luna & Larry’s