Non-Dairy Ice Cream Market size to exceed $1bn by 2026
Published Date: August 12, 2020 Authors: Kunal Ahuja, Amit Rawat
Non-Dairy Ice Cream Market size is set to surpass USD 1 Billion by 2026, according to a new research report by Global Market Insights, Inc.
Increasing consumer focus towards maintaining health & fitness will bolster the demand for foodstuffs containing essential nutrients such as vitamins, proteins, and dietary fibers. Growing prevalence of lactose intolerance and milk allergies among the adults & geriatric populace will foster the non-dairy ice cream industry growth. Also, the adoption of vegan & flexitarian eating patterns in developed countries such as the UK, France, Spain, Italy, and the U.S. will further escalate industry outlook.
Manufacturers are introducing new products considering proper balance between health and indulgence to serve changing consumer taste preferences. For instance, in September 2017, Ben & Jerry’s launched new flavors including chocolate fudge brownie, chunky monkey, and peanut butter & cookies, for specifically targeting consumers looking for vegan products in the UK. Moreover, increasing concerns regarding environmental impacts, and animal welfare will have a positive impact on consumption of plant-based milk products.
High popularity of almond milk as a raw material in preparation of frozen desserts will foster product demand
Growing preference for almond milk among vegan population particularly in North American countries will propel product demand. Almond milk is a rich source of magnesium, healthy fats, vitamin E, and dietary fibers, hence are highly preferred by health-conscious consumers. Moreover, increasing manufacturers’ focus towards utilizing almond milk owing to its nutty flavor, creamy texture, neutral base, and ease in preparation of varied flavors will spur the non-dairy ice cream market trends.
Increasing brand penetration, flavor innovations accompanied by health advantages over lactose counterparts is stimulating the product demand. Dairy alternative products such as almond milk-based ice creams are loaded with vital antioxidants that help to protect against oxidative stress, aging, inflammation, and diseases like tumors, cancer, etc. Presence of low-calorie & fat content will further boost the product demand from people looking to lose weight. Increasing R&D activities in the industry to provide efficient nutritional solutions and promote use of artificial flavorings & dyes in frozen desserts for improving taste and attractiveness will escalate non-dairy ice cream market outlook.
“Almond milk source is forecast to witness a substantial growth of 13% through 2026, owing to increasing awareness about health and nutritional benefits of the product”
Browse key industry insights spread across 320 pages with 373 market data tables and 6 figures & charts from the report, “Global Non-Dairy Ice Cream Market Outlook By Source (Coconut Milk, Almond Milk, Cashew Milk, Soy Milk), By Flavor (Vanilla, Chocolate, Butter Pecan, Strawberry, Neapolitan, Cookies & Cream, Mint Choco Chip, Caramel), By Product (Impulse, Artisanal, Take Home), By Form (Singles, Blends), By Distribution Channel ( Supermarkets, Convenience Stores, Food & Drink Specialists, Restaurants, Online Stores) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Improved convenience offered by take home products to fuel non-dairy ice cream industry growth
Take home product segment is anticipated to hold over 55% share of non-dairy ice cream market in 2019. Shifting trends toward off-premise consumption and availability of home delivery options will promulgate product demand. Increasing popularity of online stores offering massive discounts and quick delivery will spur the industry growth. Moreover, expansion of supermarkets & hypermarkets in developed as well as developing economies will support industry demand. In addition, innovations in packaging have improved convenience to carry and store the products.
“Non-dairy ice cream market from take home product segment is forecast to grow at over 12.5% through 2026, owing to rise in the number of online stores and availability of convenient packaging choices”
Surge in obesity and lactose intolerance among young and aging populace in North America will foster product demand
Rising consumer consciousness towards health & fitness due to growing number of patients with obesity, allergies, and lactose intolerance will drive the business expansion in the North American region. Favorable nutritional guidelines provided by the government agencies coupled with growth of vegan population will spur overall industry trends. There has been rise in demand for plant-based rice and almond milk products containing lower fat content that helps to lose weight. Moreover, presence of large number of manufacturers and potential consumers in the region will offer a positive outlook for market statistics.
Key market participants in non-dairy ice cream market are Danone, General Mills, NadaMoo, Booja, Tofutti Brands, Unilever, Talenti, Swedish Glace, and Bliss Unlimited LLC.
Several industry players are also involved in various strategies and initiatives including technological advancements, product launches, and mergers & acquisition in order to gain substantial market share.