Plant-Based Ice Creams Market

Plant-Based Ice Creams Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Plant Based Ice Creams Market grew at a CAGR of 9.8% between 2017-2021 and is estimated to be US$ 1,798.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 10.2% and is expected to reach a valuation of US$ 4,750.6Mn by 2032 end.

Increased consumption of fruit bars, dairy-free sweets, and keto ice cream cakes has helped plant-based ice cream sales soar. The market is anticipated to change in the future as some of the top businesses go on the plant-based ice cream bandwagon.

Market Dynamic

RISING POPULARITY OF LOW-FAT DESSERTS

The increased desire for sweets with low sugar content, few processed ingredients, and no labels from the population of health and fitness enthusiasts will favor the expansion of the global plant-based ice cream market in the next years. Additionally, increasing sales of plant-based ice cream are being boosted by expanding demand for non-dairy sweets, Keto-friendly ice cream cakes, and fruit bars for various uses (snacks, protein, energy, etc.).

HIGH PROCESSING CHARGES REPRESENT A POTENTIAL THREAT

Plant-based ice creams, like all other natural or plant-based goods, are thought to provide several advantages over traditional ice creams in terms of functionality. Companies that make frozen desserts are also reformulating ice cream to appeal to environmentally and health-conscious consumers.

However, the formulation of plant-based ice creams is far more difficult than that of their traditional counterparts, which results in high processing costs. Because more ingredients are needed to provide the desired flavors and textures when dairy is removed from ice cream, food labels become even more confusing. These elements could potentially pose a threat to the sales of plant-based ice cream.

Plant-based ice creams are becoming increasingly popular despite their relatively high price tag compared to conventional ice cream and formulation challenges.

RISING DISPOSABLE INCOME AND RISING URBANISATION

The expansion of the worldwide plant-based ice cream market in the next years is driven by manufacturers’ attention to creating and promoting new “clean label” and “label-free” plant-based ice cream products. Despite being a substantial barrier to growth for the sector, the high cost of these products in the worldwide market for plant-based ice cream, compared to standard products, is likely to drive demand in the upcoming years.

Market Segments Covered in Report

By Form:

• Singles
• Blends

By Product Type:

• Bars
• Cones
• Cups/Tubs
• Others

By Flavor:

• Fruits
• Strawberry
• Banana
• Orange
• Raspberry
• Pomegranate
• Lemon
• Others
• Nuts
• Coconut
• Almond
• Hazelnut
• Others
• Herbs
• Cinnamon
• Mint
• Peppermint
• Others
• Beans
• Vanilla
• Chocolate
• Coffee
• Others

By Source:

• Soy Milk
• Coconut Milk
• Almond Milk
• Cashew Milk
• Others

By Sales Channel:

• Direct Sales
• Indirect Sales
• Hyper/Supermarket
• Franchise Outlet
• Online
• Other Retail Formats

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which product type is the most preferred?

Plant-Based Ice Cream bars are the most preferred.

Which flavor segment is increasing in demand in the anticipated period?

The nuts flavor segment is increasing in demand in the anticipated period

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 42.3%, North America currently dominates the plant-based ice cream market. It is expected to do so throughout the forecast period as consumer tastes in this region transition from dairy-based to non-dairy-based plant-based ice cream products. The market’s growth rate in this region will also be accelerated by product development, a high level of disposable income, and the availability of numerous varieties of plant-based ice cream.

Competition Analysis

Manufacturers and other market participants are concentrating on product innovation and new product launches to gain a sizable portion of the worldwide plant-based ice cream market in the next years.

A list of some of the key suppliers present in the market are:

• Hansen Holding A/S
• Yakult Honsha Co., Ltd
• Nestlé
• DuPont
• MORINAGA & CO., LTD
• BioGaia AB
• Protexin
• Daflorn Probiotics UK
• DANONE
• Yakult U.S.A. Inc.
• Deerland Enzymes, Inc.
• UAS Laboratories
• Goerlich Pharma GmbH

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.