The Vegan Ice-Cream Market is Fueled by Chocolate Flavor During the Forecast Period
The
increasing vegan population and broadening the range of vegan ice cream flavors
are the leading factors driving the global vegan ice cream market during the
forecast period.
According to
TechSci Research report, “Vegan Ice-Cream Market– Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F.”, The global vegan ice cream
market is expected to grow during the forecast period due to increased
lifestyle ailments and allergy conditions, technological advancements, climate
change, and changing perceptions towards sustainability.
Vegan ice cream is made with
soy, almond, cashew, coconut, or rice milk. These products provide all the
delicious flavor and creaminess of ice cream without harming a single cow. It
contains significant amounts of fat and delivers the same delicious flavor and
rich creaminess as conventional variants.
Rising consumer preference
for a flexitarian diet is a critical factor driving the market growth, as are
rising health concerns globally and increased rates of veganism, among other
factors. In the forecast period, rising demand for plant-based confectioneries
will open-up new opportunities for the vegan ice cream market.
Ice cream consumers are
willing to pay more for rich flavors. The use of food pieces such as ice cream,
cake, chocolate, candy, and nut bits is a rapidly growing premium trend. In
response to these market factors, manufacturers are immunizing their products,
making them richer, creamier, and more appealing. Premiumization today entails
the addition of exotic flavors as well as more sophisticated designs and shapes
to create new exciting experiences and a luxurious eating experience. The
inclusion of these ingredients makes premium ice cream popular among the
younger generation, propelling the global vegan ice cream market forward.
The growing population of
health and fitness-conscious consumers and their preference for low-sugar,
low-processed-ingredient desserts are expected to positively impact the growth
of the global vegan ice cream market in the coming years. The ice cream market
will also grow due to manufacturers' emphasis on developing and marketing
plant-based vegan ice cream products. Furthermore, rising sales of non-dairy
ice creams, and fruit bars used for various purposes, including high protein,
energy, and snacking, are increasing the demand and positively impacting the
market for vegan ice cream.
With innovation abounding and
product lines expanding, consumers have more options than ever before. This
satisfies the curiosity of some consumers who want to try 'exciting' food and
beverages, contributing to the growth of the plant-based sector. Many supermarkets
are now expanding their vegan offerings and utilizing more shelf space in
response to customer demand. Products with traditional dairy-based ingredients,
such as ice cream, are now widely available in plant-based varieties, making it
easier and more convenient for curious consumers to try something new.
High pricing of plant-based
ice creams is the major factor acting as restraint and will further challenge
the market during the forecast period, among others.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the " Global
Vegan Ice-Cream Market."
The global vegan ice
cream market is segmented based on flavor, product type, source, distribution
channel, region, and competitional landscape.
Based on flavor, the
market is fragmented into chocolate, vanilla, strawberry, and others (caramel,
blueberry, etc.). Among these segments, the chocolate flavor is the fastest
growing because it is the flavor that people prefer most.
Based on source, the
market is further segmented into coconut milk, cashew milk, soy milk, almond
milk, and others (rice milk, combination). Based on distribution channel, the
market is segmented into specialty stores, convenience stores, hypermarkets
& supermarkets, online, and others (dealers & distributors sales,
etc.)). The market analysis also studies the regional segmentation divided
among North America, Europe, Asia-Pacific, South America, and Middle East &
Africa.
Key market players in the global
vegan ice-cream market include:
·
Unilever LLC
·
Van Leeuwen Ice Cream LLC
·
Oatly Group AB
·
Wicked Kitchen
·
Tofutti Brands, Inc.
·
Booja-Booja Company Ltd
·
Over The Moo
·
HP Hood LLC (Plant Oat)
·
Bliss Unlimited, LLC (Cosmic bliss)
·
Little Red Rooster Ice Cream Company (NadaMoo)
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“The new product
innovation to enhance flavor and industry technology improvements give the
market a favorable outlook to enhance the market growth.. In addition, the
availability of a diverse range of flavors and rising health awareness on
lactose intolerance and other milk-related health issues are driving the market
growth. Furthermore, an increasing vegan population has driven market growth
for vegan ice cream and is expected to boost industry growth during the
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
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