The global vegan ice cream market is anticipated to grow from $595 million in 2021 to $1.015 billion by 2029, according to a new report.
The report, conducted by Data Bridge Market Research, expects the market to experience a compound annual growth rate (CAGR) of 10.80% during the forecast period, with caramel, vanilla and chocolate leading the pack in terms of vegan ice cream flavors.
“Growing demand for a large number of flavours by ice cream lovers is one of the major factor fostering the growth of the market”, states the report. “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.”
The report also states that “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.”
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 market’s growth rate in the future.”
Some of the major players operating in the vegan ice-cream market are:
- Bliss Unlimited, LLC. (US)
- General Mills Inc. (US)
- Wells Enterprises. (US)
- HAPPY COW LIMITED (India)
- McDonald’s. (US)
- Nestlé S.A. (Switzerland)
- Tofutti Brands, Inc. (US)
- Unilever (UK)
- Morrisons Ltd (UK)
The top sources for vegan ice cream are:
- Coconut Milk
- Almond Milk
- Cashew Milk
- Soy Milk
The top flavors include:
- Caramel
- Vanilla
- Chocolate
- Butter Pecan
- Mint Choco Chip
More information can be found at the following link: https://www.databridgemarketresearch.com/reports/global-vegan-ice-cream-market
