Latin America Plant Based Ice Creams Market

Latin America Plant Based Ice Creams market Size (2024 to 2032)

Latin America Plant Based Ice Creams market size is expected to grow from USD 10.07 billion in 2024 to USD 16.20 billion in 2032, with a CAGR of 6.12% between 2024 and 2032. 

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.

This research report on the Latin America Plant Based Ice Creams market has been segmented and sub-segmented into the following categories.

Latin America Plant Based Ice Creams Market By 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.

Latin America Plant Based Ice Creams Market By Package Type

• tub

• bag/sachet

Latin America Plant Based Ice Creams Market By Distribution Channel

• supermarkets/hypermarkets

• convenience stores

• specialist stores

• health food stores 

Latin America Plant Based Ice Creams Market By Country

•  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.

KEY MARKET PLAYERS

• Coconut Collaborative
• Swedish Glace
• Perfect World
• Almond Drea
• Booja-Booja
• Turtle Mountain’s
• Frankie & Jo’s
• Smooze
• So Delicious
• Luna & Larry’s