Vegan Ice Cream Market Surging to Reach USD 595.26 Million and expected to experience a CAGR of 10.80% by 2029: Analyses by Size, Trends, Share, Revenue Growth and Key Players

Growing demand for a large number of flavours by ice cream lovers is one of the major factor fostering the growth of the market

NEW JERSEY, July 11, 2022 (GLOBE NEWSWIRE) -- The comprehensive industry research on Global Vegan Ice-Cream Market published by Data Bridge Market includes growth analysis, regional marketing, challenges, opportunities, revenue analysis, and key driver analysis. Key elements of this report range from industry outlook along with critical success factors, industry dynamics or market definition in terms of drivers and restraints, market segmentation and value chain analysis, key opportunities or developments, application outlook, regional or country-level analysis to the competitive landscape. What is more, the Vegan Ice Cream report provides the data and information for actionable, most recent, and real-time market insights which makes it straightforward to even take critical business decisions

The rapidly revolutionizing marketplace demands the best market and business solutions to thrive in the market. This Vegan Ice-Cream report contains comprehensive data on market definition, classifications, applications, engagements, market drivers, and market restraints of this industry all of which is derived from Porter’s Five Forces analysis. The market definition covered in this Vegan Ice-Cream report gives the scope of a particular product with respect to the driving factors and restraints in the market. The sources of data and information mentioned in the Vegan Ice-Cream report are very reliable and include websites, annual reports of the companies, journals, and mergers which are checked and validated by the market experts.

Data Bridge Market Research analyses that the Vegan ice-cream Market is expected to undergo a CAGR of 10.80% during the forecast period. This indicates that the market value, which was USD 595.26 million in 2021, would rocket up to USD 1,015.15 million by 2029. “Caramel” dominates the flavor segment of the vegan ice-cream market owing to the rising vegan population base globally.

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Market Analysis

Vegan ice-cream is rich in high lipid substances, sugars, casein, nutrients, and energy. Vegan ice-cream delivers substantial amounts of fat and is rich in delicious flavours including dark chocolate, almond sea salt, cherry cashew, mint chip, raspberry, coffee hazelnut, and salted caramel.                   

Unlock new opportunities with DBMR reports to gain insightful analyses about the Vegan ice-cream market and have a comprehensive understanding. Learn about the market strategies that are being adopted by your competitors and leading organizations and also potential and niche segments/regions exhibiting promising growth

Key Market Drivers

  • Rising Demand for Flavours

Growing demand for a large number of flavours by ice cream lovers is one of the major factor fostering the growth of the market. In other words, the rise in availability of including mint chip, peanut butter, pistachio, strawberry, vanilla, fudge brownie, raspberry, coffee hazelnut, and salted caramel is bolstering the market growth rate.   

  • Research and Development Proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies will further create lucrative market growth opportunities. Research and development proficiencies being conducted to study the health effects of vegan products on the immunity system is also bolstering the market growth rate.

  • Growing Population Base

Surging vegan population base is fostering the growth of the market. Vegan ice-creams help in improving digestion, strengthens the functioning of the immunity system, improves blood pressure and much more. Moreover, rising awareness about animal cruelty is yet again bolstering the demand for vegan products.

Major Industry Players

  • Companies Mentioned
  • Bliss Unlimited, LLC. (US)
  • General Mills Inc. (US)
  • Wells Enterprises. (US)
  • McDonald's. (US)
  • Nestlé S.A. (Switzerland)
  • Tofutti Brands, Inc. (US)
  • Unilever (UK)
  • Morrisons Ltd (UK)
  • Eden Creamery LLC. (US)
  • Over The Moo (Australia)
  • Waitrose & Partners (UK)
  • DREAM (US)
  • Van Leeuwen Ice Cream LLC (US)
  • Trader Joe's (US)
  • Ben & Jerry's Homemade, Inc. (US)  

Recent Developments

  • In 2022, Unilever's brand Ben & Jerry's launched two plant-based ice-creams which are "Chocolate Milk and Cookies", and "Dirt Cake". 
  • In 2022, Little Red Rooster Ice Cream Company's brand NadaMoo launched Chocolate Chip Cookie Dough Flavor, a dairy-free ice cream. 
  • In 2021, Oatly announced the launch of vegan ice cream bar line at 3,000 stores across the United States.The new ice cream bars are made with an oat milk base which is enrobed in a rich chocolate shell and available in four flavors: Chocolate Fudge, Strawberry Swirl, Salted Caramel, and Vanilla.

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Opportunities for Leading Players

Furthermore, upsurge in the public-private funding for target research activities, changing lifestyle of individuals, increasing occurrences of lactose intolerance and milk-related allergies and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising personal disposable income and the introduction of new flavors along with technological advancement and introduction of additional healthy ingredients by different market players will further expand the Vegan Ice-Cream market growth rate in the future.

The investment made in the study would provide you access to information such as:

  • Vegan ice-cream Market [Global – Broken-down into regions]
  • Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
  • Country wise Market Size Split [of important countries with major market share]
  • Market Share and Revenue/Sales by leading players
  • Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
  • Market Size)
  • Market Size by application/industry verticals
  • Market Projections/Forecast

Market Segmentation

By Source

By Flavor

  • Vanilla
  • Chocolate
  • Butter Pecan
  • Strawberry
  • Neapolitan
  • Cookies and Cream
  • Mint Choco Chip
  • Caramel

By Product

  • Impulse
  • Artisanal
  • Take Home

By Form

  • Singles
  • Blends

By Distribution channel

  • Supermarkets
  • Convenience Stores
  • Food and Drink Specialists
  • Restaurants
  • Online Stores

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Regional Analysis:

Besides segmental breakdown, the report is highly structured into a region-wise study. The researchers’ regional analysis highlights key regions and their dominating countries accounting for substantial revenue share in the Vegan ice-cream market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

North America [U.S., Canada, Mexico]

Europe [Germany, UK, France, Italy, Rest of Europe]

Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]

South America [Brazil, Argentina, Rest of Latin America]

The Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]

Europe is anticipated to deliver potential growth to the vegan ice-cream market owing to the changing consumer preferences towards healthy lifestyle along with introduction of new flavours. Asia-Pacific will score a good growth rate during the forecast period owing to the rising personal disposable income.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Key Topics Covered:

1) Preface
2) Scope and Methodology
3) Executive Summary
4) Introduction
4.1) Overview
4.2) Key Industry Trends
5) Global Vegan Ice Cream Market
5.1) Market Overview
5.2) Market Performance
5.3) Impact of covid
5.4) Market Forecast
6) Market Breakup by Source
7) Market Breakup by Flavor
8) Market Breakup by Sales Type
9) Market Breakup by Distribution Channel
10) Market Breakup by Region
11) Porter’s Five Forces Analysis
12) Value Chain Analysis
13) Porters Five Forces Analysis
14) Price Analysis
15) Competitive Landscapes
15.1) Market Structure
15.2) Key Players
15.3) Profiles of Key Players

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