Vegan Ice Cream Market 2020-2026

Global Vegan Ice Cream Market Size, Share & Trends Analysis Report by Source (Almond Milk, Cashew Milk, Coconut Milk, Soy Milk, and Others (Oat Milk, Rice Milk)), by Flavor (Caramel, Chocolate, Coconut, Coffee, Fruit, Vanilla, and Others), and by Distribution Channel (Convenience Stores, Supermarkets/Hypermarkets, and Online Stores) Forecast Period (2020-2026).

The global vegan ice cream market is anticipated to grow at a hefty growth rate during the forecast period. Vegan ice cream is currently one of the fastest-growing segments of the food and beverage industry. With rising disposable income and altering lifestyles, coupled with enhancing cold chain infrastructure, globally, the sector has great growth potential. Increasing veganism and concerns for animal welfare have been the most imperative factors behind the hefty growth of this market.

Increasing concerns for lactose intolerance is another pivotal factor elevating the sales of vegan ice cream. Products that make on-the-go consumption easier, as consumers perceiving ice cream as a snack and not merely an after-dinner dessert, could lift sales significantly. Although, ingredient quality and flavor are most imperative, with ethical claims increasingly pivotal for consumers as the humans, animals, and resources utilized to make such products stays to be vital elements to customers in this category.

The vegan ice cream market is segmented based on source, flavor, and distribution channel. Based on the source, the vegan ice cream market is segmented into almond milk, cashew milk, coconut milk, soy milk, and others (oat milk, rice milk). Based on flavor, the market is classified into Caramel, Chocolate, Coconut, Coffee, Fruit, Vanilla, and Others. Based on the distribution channel, the market is segmented into convenience stores, supermarkets/hypermarkets, and online stores. The supermarkets/hypermarkets distribution channel is dominating the market share. The e-commerce market is still in a nascent phase and reflecting exceptional growth prospect in the years to come with key players such as Tesco PLC and Unilever are focusing on their expansion of the e-commerce vegan products space.

Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to have considerable share in the vegan ice cream market with an increasing vegan population and consumers preferring vegan foods to resolve obesity issues. Even in Europe, veganism is on a new high and is expected to rise exponentially in the coming years, benefiting the vegan ice cream sector. The Asia-Pacific is also expected to generate positive results led by China. China is home to the greatest number of vegan populations, making it a lucrative market for vegan ice cream vendors.

Lastly, in the past few years (primarily 2015-2019), giant brands such as Ben & Jerry's, Magnum, Häagen-Dazs, and low-cal specialists Halo Top have extended their offerings to dairy-free versions of their frozen treats. Novel competitors such as Cado (uses creamy avocados to impersonate the dairy texture), Oatly (utilizes oat milk), and Eclipse Foods (makes ice from corn, potato, and cassava) are also keen to take a bite out of this tremendously expanding market. Unilever Group, Danone S.A., Wells Enterprises, Inc., General Mills, Inc., and NADAMOO! (Little Red Rooster Ice Cream Company) among more, are some of the major players in the vegan ice cream market.

Research Methodology

The market study of the global vegan ice cream market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Global Vegan Ice Cream Market Research and Analysis by Source
2. Global Vegan Ice Cream Market Research and Analysis by Flavor
3. Global Vegan Ice Cream Market Research and Analysis by Distribution Channel

The Report Covers:

• Comprehensive research methodology of the global vegan ice cream market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global vegan ice cream market.
• Insights about market determinants which are stimulating the global vegan ice cream market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.