Check how key trends and emerging drivers are shaping the industry growth from the Vegan Ice Cream Market research released by HTF MI.
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The 2023E-2030 Global Vegan Ice Cream Market study with 132+ market data shows that the Global Vegan Ice Cream Market was valued at US$470.82 Million in 2023 and is expected to reach US$890.7 Million by 2029, growing at a CAGR of 8.4% during 2023-2029.
The Vegan Ice Cream market refers to the segment of the frozen dessert industry that offers dairy-free ice cream alternatives made entirely from plant-based ingredients. Vegan ice cream is designed to cater to individuals who follow vegan diets or have lactose intolerance or dairy allergies.
It provides an alternative to traditional dairy ice cream by using plant-based ingredients such as nut milks (almond, cashew), coconut milk, soy milk, oat milk, and various sweeteners and flavours to replicate the taste and texture of conventional ice cream.
Market Trends
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The trend of introducing unique and exotic flavours in vegan ice cream, inspired by global cuisines and natural ingredients, is on the rise.
Consumers are seeking vegan ice cream products made with clean label ingredients, minimal additives, and recognisable components.
The trend of adding functional ingredients such as plant-based protein, probiotics, and superfoods to vegan ice cream for added health benefits.
Market Drivers
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The increasing adoption of plant-based and vegan diets is a significant driver for the demand for vegan ice cream products.
Consumer interest in healthier dessert alternatives is driving the demand for vegan ice cream made from nutritious ingredients.
Individuals with lactose intolerance or dairy allergies are seeking dairy-free alternatives, including vegan ice cream.
Market Opportunities
The demand for healthier dessert options provides an opportunity to create low-sugar, low-calorie, and nutrient-rich vegan ice cream products.
The popularity of veganism and plant-based diets is expanding globally, presenting opportunities for vegan ice cream in new markets.
Collaborating with companies that produce plant-based milk alternatives can lead to innovative and high-quality vegan ice cream products.
Market Challenges
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Achieving a creamy texture without dairy fats remains a challenge in vegan ice cream production.
Ensuring that vegan ice cream products match the taste and flavour expectations of traditional dairy ice cream is a persistent challenge.
High-quality plant-based ingredients can be expensive, affecting the overall production cost and pricing of vegan ice cream.
