The global Dairy-Free Ice Cream Market was estimated at 490 (USD Million) in 2019 and is set to record a CAGR of nearly 15.2% over 2020-2026. The report offers valuation and analysis of Dairy-Free Ice Cream market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Million).
Dairy-free ice cream includes high lipid contents, carbohydrates, casein, vitamins, and albumin. Massive inclination towards vegan lifestyles with rising health awareness will drive the market growth over the ensuing years. Moreover, high per capita ice-cream intake in the countries like the U.S. and Europe will prompt the product penetration in these regions.
Surge in awareness pertaining to good health, rise in the cases of lactose intolerance & other milk-related issues, and socializing trends will boost the industry growth over the forecast timespan. With a prominent spur in commercial activities and rise in the plant-based milk production, the market for dairy-free ice cream is slated to gain traction in the years ahead.
Based on source, the dairy-free ice cream market is segmented into coconut milk, soy milk, and almond milk. Furthermore, almond milk segment is predicted to expand rapidly at a rate of nearly 15.5% during the period from 2020 to 2026. The segmental growth is attributed to high use of almond milk for producing vegan items most prominently consumed in the North American countries.
On the basis of flavor, the dairy-free cream industry is divided into chocolate, strawberry, and vanilla. Moreover, chocolate flavor is likely to dominate the flavor segment during the estimated timespan and will register a CAGR of nearly 14.9% during the projected timeframe. The growth can be credited to massive popularity of chocolate flavor among both the youth population as well as the old population in Western countries as well as Asian countries.
Distribution Channel Trends
Based on the distribution channel, the dairy-free ice cream industry is sectored into convenience stores, online, and supermarket/hypermarket. Furthermore, supermarket/hypermarket is set to lead the distribution channel segment over the coming years due to access to wide range of products in the supermarkets or hypermarkets. Apart from this, comparison of products and its prices can also be made in the supermarket or hypermarket stores and this will further augment the segmental growth over the foreseeable future.
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The North American market, which contributed major market share in 2018, is set to register a growth rate of over 10% during the estimated timeline. The regional market expansion over the estimated timespan is owing to changing customer preferences towards healthy eating habits as well as intake of vegan diet in the continent. Launching of new flavors and easy availability of dairy-free flavored frozen desserts will further embellish the regional market trends. Apart from this, the willingness of the customers in the continent to pay more prices for nutritious items will boost the business landscape over the forecast timespan. Additionally, presence of giant industry players in the region will further boost the market growth in the region over the forecast timeframe.
Key players influencing the market growth are Tofutti Brands, Inc., Unilever, Bliss Unlimited LLC, General Mills, Inc., and Booja- Booja.
The global dairy-free ice cream market is segmented as follows:
By Distribution Channel
- Convenience Stores
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa