According to recently published statistics from Future Market Insights, plant-based ice cream market will increase steadily between 2021 and 2031 at a CAGR of 9.3%. The value of the plant-based ice cream market is anticipated to cross US$ 1,492.5 Mn in 2021, driven by the rising popularity of veganism.
Future Market Insights’ recent report on the global market for plant-based ice-creams reveals that the rising prevalence of lactose intolerance in creating a vast consumer base for such non-dairy products. Increasing population of lactose intolerant consumers is observed to be driving force for growing consumption of plant-based ice-creams.
Moreover, higher protein content in plant-based ice-creams is making them healthier options among ice-creams. Producers of plant-based ice-creams are focusing towards improving the taste of these ice-creams as consumers are demanding a wide variety of flavours.
Following highlights from the report will elucidate the growth of global plant-based ice-creams market during the forecast period, 2021-2031. According to the report, towards the end of 2027, the global consumption of plant-based ice-creams will reach 500 thousand tonnes, reflecting an estimated value of US$ 2.45 Bn.
Growth of the global plant-based ice-creams market will be marginally lower than its revenue growth as the market is expected to reflect of a volume CAGR of 9.1% and a value CAGR of 9.3% over the forecast period.
Demand for cups or tubs of plant-based ice-creams, on the other hand, will rise as global sales recorded in this product segment will contribute to nearly 30% of global market value by the end of 2031.
In 2021 and beyond, the global demand for plant-based ice-creams in single-flavour form will be slightly lower than that of blends as the latter form of plant-based ice-cream will dominate with a global revenue share of 51% and above.
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The report predicts that fruits, dry fruits (nuts) and beans will be prominent flavours of plant-based ice-creams. By 2031, nearly 140 thousand tonnes of plant-based ice-creams are expected to be consumed across the globe.
Majority of plant-based ice-creams produced in the world will be sourced from soy milk. Through 2031, plant-based ice-creams sourced from soy milk are predicted to register above 10% CAGR in terms of revenue.
Global revenues accounted by direct sales of plant-based ice-creams will be gaining traction throughout the forecast period, registering a value CAGR of 10%. On the other hand, indirect sales channels for plant-based ice-creams are dominating the market with nearly 60% value share, albeit, their global revenue contribution is expected to incur a considerable decline by 2031-end.
By the end of 2031, North America and Western Europe are expected to dominate the global plant-based ice-creams market as these regions will individually attribute to an estimated 34% of global revenues.
The Asia-Pacific excluding Japan (APEJ) region is also accounting for a considerable share in global revenues, however, consumption of plant-based ice-creams is expected to lose traction in the APEJ market towards the latter half of the forecast period.
The report also profiles prominent players in the global plant-based ice-cream market, which include Ben & Jerry’s Homemade Inc., Bliss Unlimited, LLC, LUV Ice Cream LLC, SO DELICIOUS DAIRY FREE (Danone), Oatly AB, Jollyum Co., The Booja-Booja Co., LITTLE BABYS ICE CREAM LLC, Klein’s Ice Cream Inc., and Frankie & Jo’s. Other key players in the market are observed to be Happy cow ltd., Tofutti, Breyers, Dream, Nadamoo, ARCTIC ZERO, Inc., Snowflake Luxury Gelato, Wink Frozen Desserts, Nobó ltd., Imuraya Group Co. Ltd.
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Market Taxonomy
By Form
- Singles
- Blends
By Product Type
- Bars
- Cones
- Cups/Tubs
- Others
By Flavor
- Fruits
- Strawberry
- Banana
- Orange
- Raspberry
- Pomegranate
- Lemon
- Others
- Nuts
- Coconut
- Almond
- Hazelnut
- Others
- Herbs
- Cinnamon
- Mint
- Peppermint
- Others
- Beans
- Vanilla
- Chocolate
- Coffee
- Others
By Source
- Soy Milk
- Coconut Milk
- Almond Milk
- Cashew Milk
- Others
By Sales Channel
- Direct Sales
- Indirect Sales
- Hyper/Supermarket
- Franchise Outlet
- Online
- Other Retail Formats
The report covers exhaustive analysis on:
- How much is the plant-based ice cream market worth?
- What was the last 5 year market CAGR of plant-based ice cream?
- What is the market share of top 5 players in plant-based ice creams market ?
- Which countries are key exporters of plant-based ice creams market ?
- What is the North America Market Outlook?
- At what percentage will plant-based ice cream market o register growth in Europe?
- Which countries are key producers of plant-based ice cream?
- What is driving demand of plant-based ice cream market?
- What are the key trends in the plant-based ice cream market?
- What are the key statistics for plant-based ice cream market in Japan and South Korea?
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Download complimentary copy of Future Market Insights White Paper in collaboration with PBFIA, on the Plant Based Market that throws light on potential opportunities and investments made in the Global plant based market
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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