The latest research study “Vegan Ice Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global vegan ice cream market size reached a value of US$ 592.8 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 833.8 Million by 2027, exhibiting a CAGR of 5.45% during 2022-2027.
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Vegan ice cream is manufactured using plant-based ingredients, such as soy, cashew, almond, and coconut milk. It is free from animal-derived products and contains high amounts of fats. It has a rich creaminess, texture, and flavor similar to its traditional counterparts. It is widely available in various types, such as fudge bars, ice cream sandwiches, drumsticks, and pint-sized containers. As a result, vegan ice cream has gained immense popularity as a healthy plant-based alternative to dairy ice cream.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Vegan Ice Cream Market Trends and Drivers:
The global vegan ice cream market is primarily driven by the growing health consciousness among consumers and the emerging veganism trend. Besides this, the rising awareness about animal cruelty is another major growth-inducing factor. Moreover, the shifting consumer preferences toward animal-free and plant-based products have catalyzed the product demand.
Additionally, several favorable initiatives by governments of various countries to promote the uptake of vegan foods have propelled market growth. Furthermore, the leading manufacturers are introducing innovative product variants, such as gluten-free cones made from organic and natural ingredients with no artificial additives.
In line with this, the launch of premium vegan ice cream in exotic flavors, such as lemon poppy seed, pink champagne, and chai tea coconut, has accelerated the product adoption rate. Other factors, including the expanding lactose-intolerant population, escalating demand for ready-to-eat (RTE) products, rising consumer expenditure capacities, and easy product availability via online channels, are also anticipated to drive the market further.
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| Vegan Ice Cream Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 592.8 Million |
| Market forecast in 2027 | US$ 833.8 Million |
| Growth Rate | CAGR of 5.45% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
Global Vegan Ice Cream Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Arctic Zero, Booja-Booja, Double Rainbow Ice Cream, HappyCow, Morrisons, NadaMoo!, Over The MOO, Perry’s Ice Cream, SorBabes, Tofutti Brands Inc., Unilever PLC and Van Leeuwen Ice Cream.
The report has segmented the market on the basis of region, source, flavor, sales type and distribution channel.
Breakup by Source:
- Coconut Milk
- Soy Milk
- Almond Milk
- Cashew Milk
Breakup by Flavor:
- Chocolate
- Caramel
- Coconut
- Vanilla
- Coffee
- Fruit
Market Breakup by Sales Type:
- Impulse
- Take Home
- Artisanal
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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