Plant Based Ice Creams Market

Global Plant Based Ice Creams Market Size (2024 to 2029)

Plant-Based Ice Creams Market size was estimated at USD 3.3 billion in 2023 to USD 5.11 billion with a CAGR of 9.10% throughout the forecast period 2024 to 2029

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. 

MARKET 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.

REPORT COVERAGE: 

SEGMENTAL ANALYSIS

Global Plant Based Ice Creams Market By Product Source           

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

Global Plant Based Ice Creams Market By Packaging                    

• Tub             
• Bag/Sachet                     

Global Plant Based Ice Creams Market By Distribution Channel

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

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.

KEY PLAYERS IN PLANT-BASED ICE CREAMS MARKET

Key players in 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.

RECENT HAPPENINGS IN THE MARKET

• 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.

DETAILED SEGMENTATION OF GLOBAL PLANT BASED ICE CREAMS Market INCLUDED IN THIS REPORT    

This research report on the global Plant Based Ice Creams Market has been segmented and sub-segmented based on Product Source, Packaging, Distribution Channel & region.           

By Product Source           

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

By Packaging           

• Tub             
• Bag/Sachet                     

By Distribution Channel

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

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa