Summary

Global Vegan Ice Cream Market Analysis

The Vegan Ice Cream Market is projected to reach US$ 1,056.71 million by 2032, up from US$ 704.97 million in 2023, with a CAGR of 4.60 percent from 2024 to 2032.


Vegan Ice Cream Industry Definition

Vegan ice cream, a plant-based frozen dessert, is not just a dietary choice, but a delightful indulgence that aligns with vegan dietary standards. It utilizes non-dairy alternatives such as coconut milk, almond milk, or soy milk as the base, making it suitable for vegans and those with lactose intolerance or dairy allergies. The characteristics of vegan ice cream, including its rich, creamy texture, are achieved through careful selection and balancing of non-dairy fats and sweeteners. Coconut cream, for instance, closely mimics the natural properties of milk, offering a high fat content and thick viscosity that contribute to the creaminess of the ice cream. Despite the absence of dairy, vegan ice cream aims to replicate the indulgent experience of traditional dairy-based ice cream, offering a guilt-free treat that caters to a wide audience seeking dairy-free options without compromising on taste or enjoyment. Moreover, by choosing vegan ice cream, consumers are not only making a positive impact on their health but also on the environment, contributing to a more sustainable future.


Innovation in Flavors and Ingredients fuels the Vegan Ice Cream Industry.

The vegan ice cream industry is booming, driven by a plethora of innovative flavors and ingredients. Traditional dairy alternatives like almond, soy, and coconut milk are now joined by oats, cashews, and hemp bases, offering diverse textures and tastes. Unique flavors like matcha green tea, lavender honey, turmeric chai, and reimagined classics cater to the most discerning palates. Natural sweeteners like agave and coconut sugar enhance flavors while maintaining health benefits. Superfoods and unique additives like spirulina and adaptogens boost nutrition and appeal to health-conscious consumers. This ongoing innovation attracts vegans and those seeking healthier, ethical dessert options, fueling industry growth. In Feb 2024, Magnum launched vegan Blueberry Cookie Ice Cream With Sorbet Centre. Unilever-owned ice cream brand Magnum has expanded its plant-based range with new Chill Blueberry Cookie ice cream sticks.


The prevalence of dairy allergies and lactose intolerance is increasing in the general population.

The demand for vegan ice cream is surging due to the increasing prevalence of dairy allergies and lactose intolerance. This has prompted a shift towards plant-based alternatives, such as non-dairy milk (e.g., almond, coconut, oat milk) and ice cream. The popularity of vegan ice cream is driven by growing consumer awareness about health and wellness, alongside a broader trend towards plant-based diets. Retailers and manufacturers are expanding their vegan ice cream lines to meet the diverse tastes of consumers. This trend caters to dietary restrictions and appeals to a broader audience looking for healthier, environmentally friendly choices. Furthermore, in October 2023, Michelin Star pastry chef Olivia Green's 'Crème de la Crop,' a new vegan ice cream shop, received a national award from PETA, further validating the health benefits of vegan ice cream.


The rise in obesity is leading to a growing demand for vegan ice cream worldwide.

The prevalence of obesity-related diseases such as diabetes and cardiovascular conditions has increased in recent years, with a projected rise in obesity rates worldwide by 2030. Affluent regions like North America and Western Europe are experiencing higher susceptibility to these health issues due to unhealthy eating habits and lack of physical activity. As a result, there is a growing demand for vegetarian food products, with a significant portion of Americans choosing to exclude meat from their diet and opt for plant-based meat substitutes. This shift in consumer preferences is leading to the expansion of the global vegan ice cream market.


Asia-Pacific vegan ice cream market

The Asia-Pacific ice cream market is growing due to higher disposable incomes and a preference for high-quality products. Increasing demand for ice cream and frozen desserts in the region, particularly in countries like India, Japan, New Zealand, and China, is driving this growth. China's ice cream market is primarily influenced by changing dietary habits, rising disposable incomes, and a growing middle-class population. The increase in per capita disposable income and the growth of the middle-income population group in China present opportunities for developing premium and artisanal ice cream brands in the country.

Japanese consumers enjoy traditional flavors like matcha, black sesame, cherry blossom and more adventurous options such as squid ink and wasabi. Manufacturers are constantly introducing new and unique flavors to cater to diverse preferences. In March 2024, Eclipse Foods launched its plant-based ice cream in Japan as "eclipseco," featuring flavors like Cookie Butter Crumble, Classic Chocolate, and Mango Passion Fruit, now available at Family Mart stores in Tokyo. Kaori Onguchi, the company's country manager for Japan, sees this as a significant milestone and just the beginning of their journey in Japan.


Vegan Ice Cream Company Analysis

The prominent players in the vegan ice cream market are Unilever PLC, Tofutti Brands Inc., Van Leeuwen Ice Cream, SorBabes, Perry's Ice Cream, NadaMoo!, Over The MOO, Morrisons, HappyCow, and Double Rainbow Ice Cream.


Vegan Ice Cream Company News

Over The Moo, a plant-based ice cream brand introduced a new chocolate flavor to its coconut-based ice cream treats in the UK in May 2024.

December 2023, Salt & Straw is bringing back the Dairy Free Decadence Series, featuring five vegan ice cream flavors for a limited time. The flavors will be available in-store and for online orders.

May 2023: Häagen-Dazs has launched a new line of plant-based frozen treats in London, Ontario. These oat-based products are vegan-approved.

March 2023: Booja-Booja has relaunched its dairy-free ice cream collection with four new flavors and three updated recipes. The new flavors are cookie dough, mango and raspberry, intensely chocolate, chocolate fudge brownie, and improved editions of three existing varieties. The ice creams are all organic, vegan, dairy-free, soya-free, gluten-free, and kosher.

In 2022, Ben & Jerry’s teams up with Tony’s Chocolonely to combat modern slavery in chocolate production by adopting Open Chain principles to enhance working conditions for farmers.


Source– Global Vegan Ice Cream Market

1. Coconut Milk
2. Soy Milk
3. Almond Milk
4. Cashew Milk


Flavor– Global Vegan Ice Cream Market

1. Chocolate
2. Caramel
3. Coconut
4. Vanilla
5. Coffee
6. Fruit


Sales Type– Global Vegan Ice Cream Market

1. Impulse
2. Take Home
3. Artisanal


Distribution Channel– Global Vegan Ice Cream Market

1. Supermarkets and Hypermarkets
2. Convenience Stores
3. Online Stores
4. Others


Country – Market break up in 25 viewpoints

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE


Company is breakup into 3 viewpoints

• Overview
• Recent Development & Strategies
• Financial Insight


Company

1. Unilever PLC
2. Tofutti Brands Inc.
3. Van Leeuwen Ice Cream
4. SorBabes
5. Perry's Ice Cream
6. NadaMoo!
7. Over The MOO
8. Morrisons
9. HappyCow
10. Double Rainbow Ice Cream

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Table of Contents

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers
4.2 Challenges


5. Global Vegan Ice Cream Market

6. Market Share

6.1 Source
6.2 Flavor
6.3 Sales Type
6.4 Distribution Channel
6.5 Country


7. Source

7.1 Coconut Milk
7.2 Soy Milk
7.3 Almond Milk
7.4 Cashew Milk


8. Flavor

8.1 Chocolate
8.2 Caramel
8.3 Coconut
8.4 Vanilla
8.5 Coffee
8.6 Fruit


9. Sales Type

9.1 Impulse
9.2 Take Home
9.3 Artisanal


10. Distribution Channel

10.1 Supermarkets and Hypermarkets
10.2 Convenience Stores
10.3 Online Stores
10.4 Others


11. Country- Global Vegan Ice Cream Market

11.1 North America

11.1.1 United States
11.1.2 Canada

11.2 Europe

11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey

11.3 Asia Pacific

11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Thailand
11.3.7 Malaysia
11.3.8 Indonesia
11.3.9 New Zealand

11.4 Latin America

11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina

11.5 Middle East & Africa

11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 UAE


12. Porter’s Five Analysis

12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes


13. SWOT Analysis

13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat


14. Key Players Analysis

14.1 Unilever PLC

14.1.1 Overview
14.1.2 Recent Development
14.1.3 Financial Insight

14.2 Tofutti Brands Inc.

14.2.1 Overview
14.2.2 Recent Development
14.2.3 Financial Insight

14.3 Van Leeuwen Ice Cream

14.3.1 Overview
14.3.2 Recent Development

14.4 SorBabes

14.4.1 Overview
14.4.2 Recent Development

14.5 Perry's Ice Cream

14.5.1 Overview
14.5.2 Recent Development

14.6 NadaMoo!

14.6.1 Overview
14.6.2 Recent Development

14.7 Over The MOO

14.7.1 Overview
14.7.2 Recent Development

14.8 Morrisons

14.8.1 Overview
14.8.2 Recent Development

14.9 HappyCow

14.9.1 Overview
14.9.2 Recent Development

14.10 Double Rainbow Ice Cream

14.10.1 Overview
14.10.2 Recent Development

14.11 Booja-Booja

14.11.1 Overview
14.11.2 Recent Development

14.12 Arctic Zero

14.12.1 Overview
14.12.2 Recent Development