Vegan Ice-cream Market Synopsis

Vegan Ice-cream Market Size Was Valued at USD 686.20 Million in 2023, and is Projected to Reach USD 1741.14 Million by 2032, Growing at a CAGR of 10.9% From 2024-2032

Vegan ice-cream involves the plant-based milk products. Rich vegan ice creams use plant-based milks that also have a lot of fat in them, much like dairy-based ice cream does. The only significant distinctions are that vegan ice cream is cruelty-free and safe for individuals with milk allergies or sensitivities. Ice cream made from soy, almond, cashew, coconut, or rice milk will be produced commercially.

• One of the fastest-growing markets in the food and beverage sector right now is vegan ice cream. The industry is poised for significant expansion with changing lifestyles, increased disposable income, and improved cold chain infrastructure. Surging vegan population base is fostering the growth of the market. Vegan ice-creams help in improving digestion, strengthens the functioning of immunity system, improves blood pressure and much more.
• Rising awareness about animal cruelty is yet again bolstering the demand for vegan products. Owing to the growing awareness regarding plant-based dairy-free products, consumers are willing to opt for dairy-free ice cream. This has led key players to invest in their research and development activities in order to come up with dairy-free frozen desserts including ice creams.
• Vegan ice cream products are becoming more widely available in grocery stores, supermarkets, and specialty health food stores. Additionally, many mainstream Ice-cream brands have introduced their own lines of vegan ice cream to cater to this growing market segment.

Vegan Ice-cream Market Trend Analysis

Increased Prevalence of Lactose Intolerance and Dairy Allergies

• Lactose intolerance, the inability to digest lactose. Vegan ice-cream is rising concerns about lactose intolerance. The Vegan Ice-cream is prepared by using soy, almond, cashew, coconut, or rice milk. Without killing any animals, these items will provide all the delectable flavours and creaminess of ice cream. By offering not just a variety of flavour selections but also a wide range of products, such as pint-sized containers, ice cream sandwiches, fudge bars, and more.
• Large proportion of the world’s population are “lactose maldigests,” which means they struggle to digest lactose. This is because their bodies don’t produce much lactase, which is the enzyme that breaks down lactose.so to overcome this problem people preferring vegan ice-creams to maintain their diet and health which drive the market.

Health and Dietary Preferences

• The demand for vegan ice cream is propelled by a rising shift in consumer health consciousness and dietary preferences. Individuals increasingly adopt vegan and lactose-free diets due to various health considerations, allergies, or ethical choices, making vegan ice cream a sought-after choice for those seeking dairy-free, plant-based alternatives.
• Various health benefits of vegan ice cream, such as its lower saturated fat content, cholesterol-free nature, and fewer artificial additives, presents an opportunity for market growth. This trend global health and wellness, making vegan ice cream an attractive choice for consumers aiming for healthier dietary options while enjoying delicious frozen treats. The expansion of vegan options in the food market has led to increased variety and innovation in plant-based ice cream flavours and textures, appealing to a broader range of consumers.

Vegan Ice-cream Market Segment Analysis:

Vegan Ice-Cream Market is Segmented on the Basis of Source, Flavour, Product, Form, Distribution Channel and Region.

By Source, Almond Milk Segment is Expected to Dominate the Market During the Forecast Period

• Almond milk, known for its creamy texture and nutty flavour, is a popular plant-based milk alternative, making it an excellent base for vegan ice cream. Its natural sweetness and low-calorie content compared to traditional cow's milk attract consumers seeking dairy-free options.
• Also, almond milk's richness in vitamins and minerals like vitamin E and calcium enhances the nutritional profile of vegan ice cream. Being lactose-free, almond milk caters to individuals with lactose intolerance or dairy allergies, significantly widening the consumer base for almond milk vegan ice cream. This meets the needs of those seeking a non-dairy frozen dessert without compromising on taste and texture.
• In this graph, it is shown that the value of almond milk worldwide is increasing continuously from year 2020 to 2023.

By Application, Caramel Segment Held the Largest Share In 2023

• Caramel is a beloved flavour known for its rich, sweet, and buttery taste, which resonates with a wide range of palates. The creamy texture of vegan ice cream made from plant-based milk alternatives such as almond, coconut, or soy, it offers a satisfying and delectable treat for those following a dairy-free lifestyle. The rising demand for caramel vegan ice cream among individuals with lactose intolerance or dairy allergies, as it contains no animal-derived ingredients is contributing to the market’s growth.
•  As consumers become more health-conscious and mindful of their dietary choices, they seek alternatives that align with their values and preferences while still delivering on flavour and indulgence. The growing interest in plant-based diets and the desire for diverse, gourmet dessert choices are propelling the demand for caramel vegan ice cream.

Vegan Ice-cream Market Regional Insights:

Western Europe is Expected to Dominate the Market Over the Forecast period

• Western Europe has dominated the fruit flavour market as rising health awareness and a growing interest in plant-based diets, with consumers seeking healthier and more sustainable food choices. Vegan ice cream, made from plant-based milk alternatives such as almond, coconut, or soy, aligns with these dietary preferences, offering a guilt-free indulgence.
• Secondly, the region is experiencing a surge in the number of individuals adopting vegan and vegetarian lifestyles, influenced by ethical considerations surrounding animal welfare and environmental sustainability. As a result, the demand for dairy-free alternatives like vegan ice cream has skyrocketed, prompting manufacturers to introduce a diverse range of innovative flavours and premium offerings.

Vegan Ice-cream Market:

• Ben & Jerry's (USA)
• Oppo Brothers (UK)
• So Delicious Dairy Free (USA)
• Coconut Bliss (USA)
• Oatly (Sweden)
• Swedish Glace (Sweden)
• Cornetto (Italy)
• Swedish Glace (Sweden)
• Alpro (Belgium)
• Valsoia (Italy)
• Frill (United Kingdom)
• Jollyum (United Kingdom)
• Nomoo (United Kingdom)
• Yorica! (United Kingdom)
• MiiRO (United Kingdom)
• Almond Dream (United Kingdom)
• Fravocado (Spain)
• Magnum (Netherlands)
• NadaMoo (USA)
• Van Leeuwen Artisan Ice Cream (USA)
• Luna & Larry's Coconut Bliss (USA)
• Daiya Foods (Canada)
• Jeni's Splendid Ice Creams (USA)
• Booja-Booja (UK) and other active players.

Key Industry Developments in the Vegan Ice-cream Market:

• In Feb 2024, Reformulating Ben and Jerry’s dairy-free  Having experimented with almond and sunflower bases for Ben and Jerry’s vegan ice-cream products, Unilever is changing tack.
• In Dec 2023, Salt and straw brings back popular dairy-free Ice cream series with 2 new flavours.
• In Aug 2023, A centuries-old bean is making a comeback in the form of vegan ice-cream An ancient bean known as sweet lupin is creating new opportunities in Canada for high-protein, plant-based foods-including a vegan form of soft serve being sold at one of Winnipeg’s most iconic ice cream stands.