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North America Plant Based Ice Creams Market By Product Source (Soy Milk Based, Coconut Milk Based, Almond Milk Based, Cashew Milk, Rice Milk Based, Others), Packaging (Tub, Bag/Sachet), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Stores, Health Food Stores, Others), And Region -Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2022 to 2027

Published: March, 2023
ID: 6296
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America Plant Based Ice Creams market Analysis:

North America Plant Based Ice Creams market is anticipated to grow at 8.32% CAGR from 2020 to 2026 and it is estimated that the North America market was valued at USD 0.42 billion in 2018 and is expected to reach USD 0.62 billion by 2026.

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.

North America Plant Based Ice Creams market Growth

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.

North America Plant Based Ice Creams market Segmentation

The North America Plant-based ice-creams market is segmented into product source, packaging and distribution channel. On the basis of the product source plant-based ice-creams market is segmented into Soy milk based, coconut milk based, almond milk based, cashew milk, rice milk based and others. 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, organic ice market is segmented into tub and bag/sachet. On the basis of the distribution channel, the plant-based ice-cream market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, health food stores and others such as independent retailers, e-retailers. Supermarket/hypermarket accounts for the major share of this markets segment.

On the basis of geography, the market is analyzed under various regions namely U.S. and Canada. North America held the second largest share of the market. The 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. The Demand of lactose-free ice-cream is rising in U.S. and Canada is expected to rise in future.

North America Plant Based Ice Creams market Key Players:

The market is dominated by companies like The Coconut Collaborative, Swedish Glace, Perfect World, Almond Drea, Booja-Booja, Turtle Mountain’s, Frankie & Jo’s, Smooze, So Delicious and Luna & Larry’s.

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