PUBLISHER: The Business Research Company | PRODUCT CODE: 1707142
PUBLISHER: The Business Research Company | PRODUCT CODE: 1707142
Vegan ice cream refers to frozen desserts made without animal products, such as dairy or eggs. It uses plant-based alternatives such as almond, coconut, or soy milk, with various flavors and textures to cater to different dietary preferences. It serves as a delectable option for adherents of vegan, vegetarian, or plant-based diets.
The primary sources of vegan ice cream include coconut milk, almond milk, cashew milk, and soy milk. Coconut milk-based vegan ice cream stands out as a dairy-free frozen treat made from coconut milk, diverging from traditional cow's milk. It encompasses various product types such as impulse, artisanal, and take-home, available in formats such as singles and blends. Offered in a plethora of flavors such as vanilla, chocolate, butter pecan, strawberry, neapolitan, cookies and cream, mint chocolate chip, and caramel, vegan ice cream is accessible through diverse distribution channels, predominantly supermarkets, convenience stores, specialty food and beverage outlets, restaurants, and online platforms.
The vegan ice cream market research report is one of a series of new reports from The Business Research Company that provides vegan ice cream market statistics, including vegan ice cream industry global market size, regional shares, competitors with a vegan ice cream market share, detailed vegan ice cream market segments, market trends and opportunities, and any further data you may need to thrive in the vegan ice cream industry. This vegan ice cream market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vegan ice cream market size has grown strongly in recent years. It will grow from $0.72 billion in 2024 to $0.78 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to changing demographics, cultural diversity and dietary preferences, celebrity endorsements and influencers, and restaurant and dessert menu inclusions.
The vegan ice cream market size is expected to see strong growth in the next few years. It will grow to $1.07 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to government regulations, price competitiveness, allergen-free options, investment and marketing, and flavor diversity. Major trends in the forecast period include innovation in ingredients, product innovation, collaborations and partnerships, premiumization, functional ingredients, and innovative packaging.
The rise in health consciousness is anticipated to drive the growth of the vegan ice cream market in the coming years. The increasing focus on health is fueled by heightened awareness about prevalent health issues such as obesity, smoking, mental health, and infectious diseases. Vegan ice cream plays a significant role in promoting health awareness by providing a dairy-free alternative with potentially lower cholesterol and saturated fat levels. Plant-based ingredients are perceived as healthier choices, appealing to individuals who are mindful of their dietary preferences and seek alternatives that support their health objectives. For example, according to an online survey conducted by the International Food Information Council in May 2022, which included 1,005 Americans aged 18 to 80, 52% of participants followed specific diets or eating patterns, a notable increase from 39% in 2021. Common dietary patterns this year included clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Hence, the surge in health awareness is fueling the expansion of the vegan ice cream market.
Key players in the vegan ice cream market are prioritizing the development of innovative products featuring sorbet centers to enhance their offerings and diversify their product portfolios. A sorbet center in ice cream comprises a flavorful, frozen, fruit-based filling encased within a creamy ice cream exterior. For instance, in February 2024, Magnum, a brand under Unilever PLC, a UK-based consumer goods company, introduced the vegan blueberry cookie ice cream with a sorbet center. This product boasts a vegan vanilla biscuit-flavored ice cream coated in vegan chocolate with crunchy cookie pieces, surrounding a fruity blueberry sorbet core, catering to individuals adhering to a vegan lifestyle.
In May 2023, Kale United AB, a plant-based holding company based in Sweden, acquired over 95% of Lily & Hanna Corporation for an undisclosed sum. This acquisition is poised to bolster Kale United AB's range of plant-based ice cream offerings and enhance its production and distribution capabilities for plant-based brands. Lily & Hanna Corporation is a Sweden-based vegan ice cream company.
Major companies operating in the vegan ice cream market are Nestle S.A., McDonald's Corporation, The Hain Celestial Group Inc., Wells Enterprises, Ben & Jerry's Homemade Holdings Inc., Oatly Group AB, Jeni's Splendid Ice Creams, Perfect Day Inc., Perry's Ice Cream, Van Leeuwen Ice Cream, Tofutti Brands Inc., So Delicious Dairy Free, Coolhaus, Happy Cow Limited, NadaMoo, Bliss Unlimited LLC, Booja-Booja Company Ltd, Over The Moo, Frankie & Jo's LLC, Three Twins Organic Inc., Oat & Mill, McConnell's Fine Ice Creams
North America was the largest region in the vegan ice cream market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan ice cream market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vegan ice cream market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vegan ice cream market consists of sales of vegan vanilla bean ice cream, vegan peanut butter chocolate ice cream, vegan cookie dough ice cream, and vegan strawberry ice cream. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vegan Ice Cream Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vegan ice cream market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vegan ice cream ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vegan ice cream market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.