Share on

Global Plant Based Ice Creams Market By Product Source (Soy Milk Based, Coconut Milk Based, Almond Milk Based, Cashew Milk, Rice Milk Based), By Packaging (Tub, Bag/Sachet), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Stores, Health Food Stores), and Region Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2022 – 2027)

Published: January, 2022
ID: 6294
Pages: 175
Formats: report pdf report excel report power bi report ppt

Plant-Based Ice Creams Market Growth and Forecast (2022-2027):

The Global Plant-Based Ice Creams Market size was estimated at USD 1.89 billion in 2021 and is expected to reach over USD 2.92 billion by the end of the assessment period. The Plant-Based Ice Creams Market is expected to experience moderate growth to record a CAGR of 9.10% throughout the forecast period 2022 - 2027.

Market Overview:

Plant-Based Ice cream is mainly beneficial for lactose-intolerant people. These ice creams create a large clientele in the field of non-dairy products. The growing population of lactose-intolerant customers is likely to be the primary factor in increasing the consumption of these ice creams and in boosting the herbal ice cream market. Also, the high amounts of protein in these herbal ice creams should make it a healthier ice cream option, further stimulating the global Plant Based Ice Creams market. 

Recent Developments in Plant-Based Ice Creams Industry:

  • In August 2018, Hindustan Unilever agreed to buy Karnataka-based ice cream brand Adityaa from Vijaykant Dairy and Food Products Limited (VDFPL) for an undisclosed amount, seeking more market share that is gradually seeing local or family brands sell to multinationals. Last month, Hindustan Unilever consolidated its food and soda businesses into a single division with the goal of increasing agility, in line with the world-class structure of parent company Unilever.
  • Froneri, the UK-based ice cream joint venture owned by Nestlé and R&R, has launched a new brand of indulgent herbal ice creams. Called Roar, the ice cream brand that concentrates on saving endangered feral cats and encourages its consumers to "find their nature." The new brand has formed a long-term partnership with Panthera as a financial sponsor supporting the Tigers Forever fund, in order to increase the number of tigers by at least 50% over ten years.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

9.10%

Segments Covered

By Product Source, Packaging, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Auntie Annes, Boulder Brands, ConAgra, Frito-Lay, Herr Foods, J & J Snacks, Pretzels Inc, Snyders-Lance and Others.

 

Drivers and Restraints:

As consumers begin to see a more profound link between food, health, and the environment, the public profile of organic and plant foods is evolving in an upward spiral. In addition to the foods that are eaten regularly, herbal and natural substitutes offer snacks, drinks, and even frozen desserts like ice cream. In recent times, with the increasing popularity of organic milk and milk powder obtained from cows fed organic food, natural ice cream has gained ground. However, another segment of consumers inclined to the "vegan" culture continually demands plant-based ice cream. Growing concern about animal welfare issues in the food and beverage industry, reduced consumption of animal products, and the rapid expansion of the range of alternatives have led to the development of vegan culture, then plant-based ice cream. As studies continue to link vegan food with a longer, healthier life, the demand for Plant-Based Ice Creams is supposed to be strong in the future.

Additionally, the herb ice cream market is assumed to benefit from a significant increase in lactose intolerance among an expanding number of consumers, which has resulted in increased sales of vegan cheese and protein shakes plants. Coconut milk and cream remain the base of choice for plant-based ice creams, owing to less air which makes the products denser than other dairy alternatives. The emergence of Southeast Asia as the world's leading producer of coconuts has attracted a great deal of attention from market players. Soy milk is also one of the most commonly used creamy ingredients in Plant-Based Ice Creams. However, several adverse effects associated with soy milk are suspected to decrease sales for use in Plant-Based Ice Creams. 

Plant-Based Ice Creams served in cones continue to be popular with consumers, while manufacturers are introducing take-away cups and tubs and homemade ice creams. As innovation becomes increasingly important to align with ever-changing trends and generate profit margins, several traditional ice cream makers are venturing into the new market. Similar any other plant-based or natural products, plant-based ice creams are deemed to offer a number of functional benefits over conventional ice creams. Additionally, frozen dessert companies are reformulating ice creams to appeal to consumers who care about their health and the environment. 

However, formulating Plant Based Ice Creams is much more complicated than its conventional equivalents, resulting in high processing costs. Removal of dairy products from ice cream results in a complicated food label, as more ingredients are needed to produce the preferred flavor and textures. These factors are anticipated to pose a potential threat to Plant-Based Ice Creams sales. Although a relatively high price compared to conventional barriers for ice cream and formulation, Plant-Based Ice cream is gaining popularity. Marketed to a large number of consumers concerned about environmental issues and making decisions to avoid animal products for ethical reasons, the plant-based market is foreseen to become a multi-million dollar business for the foreseeable future.

Plant-Based Ice Creams Market Segmentation Analysis:

Based on Product Source:                         

  • Soy Milk Based      
  • Coconut Milk Based            
  • Almond Milk Based
  • Cashew Milk           
  • Rice Milk Based     
  • Others                 

Based on Packaging:                   

  • Tub             
  • Bag/Sachet                     

Based on Distribution Channel:                               

  • Supermarkets/Hypermarkets         
  • Convenience Stores            
  • Specialist Stores    
  • Health Food Stores              
  • Others    

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The North American Plant Based Ice Creams was further segmented in the United States, Canada, and Mexico. The European Plant Based Ice Creams market has been ranked in the United Kingdom, Germany, France, Italy, Spain and the rest of Europe. The Asia-Pacific Plant Based Ice Creams market has been divided into China, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. The Plant-Based Ice Creams market in the rest of the world has been segmented into South America, the Middle East and Africa. 

The Asia-Pacific plant-based ice-creams market accounts for the majority and is also foreseen to experience the highest annual growth rate in the coming years due to an increase in the lactose intolerant population. Consumers are shifting their preferences to almond ice cream because it has high nutritional values ​​and tastes better than soy milk ice cream. 

Demand for lactose-free ice cream is increasing in the United States, the United Kingdom, and Germany. However, in European countries such as France, the United Kingdom, and Germany, small local manufacturers of Plant-Based Ice Creams cannot follow the quality and safety guidelines to obtain organic certification for their plants. According to a survey carried out in Russia, a large part of the population is non-vegetarian and still prefers ice cream made from cow's milk than plant-based ice cream.

Impact of COVID-19 on the global Plant Based Ice Creams Market:

With an impending economic downturn and Covid-19 pandemic, food and beverage revenues are likely to be under pressure across the globe. Food and beverage companies should review their sourcing strategies, streamline their product lines, and assess the resilience and agility of their supply chains and market access routes. Electronic commerce and distribution networks must be optimized and rationalized. Given the impact of changes in commodity prices and other service costs, as well as the means to increase demand, companies will be forced to review their pricing and promotion strategies

Leading Company:

Nobo ltd had the largest share of the Plant-Based Ice Creams Market in terms of sales and revenue in 2017.

Key Players in the Market:

Major Key Players in the Global Plant-Based Ice Creams Market are

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

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample