Non-Dairy Ice Cream Market to Hit $1 Billion by 2026, Says Global Market Insights, Inc.
Non-dairy ice cream industry is set to register more than a 13% CAGR between 2020 and 2026, propelled by shifting trend towards vegan lifestyles, coupled with increasing prevalence of lactose intolerance and milk allergies.
17 Aug, 2020, 04:00 ET
SELBYVILLE, Del., Aug. 17, 2020 /PRNewswire/ -- The global non-dairy ice cream market value is set to surpass USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc. Rising consumer focus on health and hygiene, coupled with demand for functional foods and beverages globally will escalate the demand for low-calorie products and health supplements, thus fostering overall industry outlook.
Increasing prevalence of lactose intolerance and milk allergies among consumers has led to an upsurge in the consumption of dairy substitute products globally. Manufacturers are utilizing healthier ingredients compared to dairy counterparts for capturing multiple consumers. Factors such as low-calorie content and high protein benefits will propel dairy-free products' demand. Also, the rise in the vegan and flexitarian population in developed and emerging nations will positively impact industry growth.
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Strawberry flavor will emerge as a prominent product in the global non-dairy ice cream industry, registering revenue growth over 14% up to 2026. Artificial strawberry flavorings and aromas are widely being utilized by the industry participants in numerous frozen desserts, owing to high demand from the vegetarian and flexitarian population. The presence of vitamins such as vitamins C & K, potassium, and folate in strawberry helps to reduce the risk of heart attack, cancer, and atherosclerosis. Besides, increasing product launches in the form of strawberry flavor blends & plant milk sources will help to serve changing consumer tastes and preferences.
Some of the major findings of the non-dairy ice cream market report include:
- Inclination of people towards vegan, vegetarian, and flexitarian food lifestyles has led to increased demand for ice cream prepared from plant milk. Growing concerns related to environmental protection and animal welfare has augmented the product adoption rate.
- Widescale availability of frozen desserts in numerous flavours and blended forms will foster the overall industry trends.
- Key functional properties exhibited by the product that help to fight against fatigue, stress, and aging will have a positive impact on the industry landscape.
- Rising innovations and trend development of attractive and convenient packaging have assisted the distribution channels through easy storage and enhancement in the product appeal.
- Increasing consumer awareness of nutrient intake levels and the importance of nuts, seeds & legumes in diets of millennials, adult and the aged populace, owing to recommendations from government organizations, will spur industry statistics.
- Some of the key market players manufacturing non-diary ice cream are Bliss Unlimited LLC, Danone, NadaMoo, General Mills, Booja Booja, Tofutti Brands, Unilever, Talenti, and Swedish Glace.
- Non-dairy ice cream market for artisanal products incurred the highest CAGR and the product is further anticipated to witness significant gains due to their availability in attractive dessert combinations and low level of sugar and added preservatives content. This has resulted in higher adoption of artisanal forms by health-conscious consumers.
Browse key industry insights spread across 320 pages with 373 market data tables and 6 figures & charts from the report, "Non-Dairy Ice Cream Market Analysis By Product (Impulse, Artisanal, Take Home), Source (Coconut Milk, Almond Milk, Cashew Milk, Soy Milk), Flavor (Vanilla, Chocolate, Butter Pecan, Strawberry, Neapolitan, Cookies & Cream, Mint Choco Chip, Caramel), Form (Singles, Blends), Distribution Channel ( Supermarkets, Convenience Stores, Food & Drink Specialists, Restaurants, Online Stores) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:
The non-dairy ice cream market from online stores is anticipated to witness over a 13.5% CAGR through 2026. The increased popularity of online sales channels has created potential opportunities for enhancing the sales of leading global and regional online retailers including Amazon, Goodness Direct, Vegan Online, etc. Key benefits including easy availability of numerous product variants, along with home delivery options by key participants will instigate the purchase from online stores.
Manufacturers are engaged in strategic expansion initiatives, including new product launches, partnerships, acquisitions, joint ventures, R&D activities to improve their market share and compete with major players. For instance, in May 2019, Danone companies Alpro brand announced the launch of soya-based, low-calorie alternative ice cream to serve the growing demand from health-conscious consumers looking to cut down calories. These factors will have a positive impact on market trends.
The Asia-Pacific non-dairy ice cream market is anticipated to register over a 13% CAGR through 2026. Increasing prevalence of lactose intolerance and milk allergies among the Asian populace will foster industry demand. Rising consumer inclination towards animal welfare and vegetarian diets will foster the industry statistics. Also, factors such as rising purchasing power, liberalization of FDI in the food industry and consumer focus towards maintaining health & fitness will further augment business expansion in the region.
Access the ToC of this report at https://www.gminsights.com/toc/detail/non-dairy-ice-cream-market
Browse Related Report:
Organic Ice Cream Market By Flavour (Vanilla, Chocolate, Butter Pecan, Strawberry, Coffee, Black Raspberry, Mint Chocolate Chip), Distribution Channel (On Trade, Hypermarket & Supermarket, Food & Drink Specialists, Convenience Stores), Packaging (Paper & Board, Rigid Plastics, Flexible Packaging), Product (Artisanal, Impulse, Take Home), Ingredient (Whole Milk, Skimmed Milk, Cream, Sweetening & Flavouring Agent), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2025
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Non-Dairy Ice Cream Industry Forecasts 2020-2026
Plant Based Ingredients Market
SOURCE Global Market Insights, Inc.
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