Latin America Plant Based Ice Creams Market

Latin America Plant Based Ice Creams market Size, Share, Growth (2022-2027)

Latin America Plant Based Ice Creams market is anticipated to grow at 9.32% CAGR from 2021 to 2027 and it is estimated that the Latin America market was valued at USD 0.25 billion in 2021 and is expected to reach USD 0.39 billion by 2027

Latin America 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, the 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 cream manufacturers use soy milk as their major creaming ingredient. This particular factor may act against market growth.

Latin America Plant Based Ice Creams market Segmentation

The Latin America Plant-based ice-creams market is segmented into

• product source

• packaging

• distribution channel

On the basis of the product source 

• 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 

Latin America Plant Based Ice Creams market Regional Analysis

•  Argentina

• Mexico

• Brazil

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. However, small local plant-based ice creams manufacturers are not able to follow the quality and safety guidelines to get their plants organic certified.

Latin America Plant Based Ice Creams market Keyplayers

1. Coconut Collaborative

2. Swedish Glace

3. Perfect World

4. Almond Drea

5. Booja-Booja

6. Turtle Mountain’s

7. Frankie & Jo’s

8. Smooze

9. So Delicious

10. Luna & Larry’s