Non-Dairy Ice Cream Market Size 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, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
The global non-dairy icecream market is anticipated to register appreciable proceeds in the years to come, mainly on account of the proliferating trends toward vegan lifestyles and the increasing awareness among the masses, pertaining to good health. With obesity becoming a norm owing to sedentary lifestyles and unhealthy diet consumption, the demand for food products containing labels such as ‘clean’, ‘organic’, etc., has become more commonplace. This is all the more relevant in an era where lifestyle diseases are being detected on a higher scale than before.
In a bid to bring about the intake of healthier diets and also ensure that people do not have to refrain from consuming their favorite delicacies, manufacturers have brought forth products such as non-dairy icecreams. The last few years have witnessed a meteoric rise in the non-dairy icecream industry, not only owing to health reasons, but also because manufacturers have been striving to bring about a variety of delicious flavors in the product range while simultaneously incorporating health benefits. Another major factor pushing the demand for non-dairy icecreams is the substantial increase in the percentage of lactose-intolerant population.
With respect to the source segment, non-dairy icecream market is divided into almond milk, cashew milk, coconut milk, soy milk, and other plant milks such as rice, oat, and hemp. Of these, soy milk segment holds an appreciable share of more than 20% driven by the incredible nutritional benefits of soybeans. Manufacturers have also been able to leverage the already soaring popularity of soy as a popular vegan alternative for a variety of foods.
Cashew milk-based non-dairy icecream market is anticipated to depict over 12.5% CAGR through 2026, owing to the fact that cashew milk is loaded with healthy fats, protein, vitamins, etc. In addition, cashew milk is known to have anti-cancer effects, it may also boost heart health, help blood clotting, and may help enhance blood sugar control.
The others segment accounts for 15% market share.
With respect to the flavor, non-dairy icecream market is bifurcated into caramel, vanilla, mint choco chip, butter pecan, cookies and cream, strawberry, Neapolitan, and others. Of these, the vanilla segment, subject to its ever-dependable taste and already established popularity, holds a market share of 20%. Neapolitan on the other hand, accounts for a revenue share of 3%.
The butter pecan flavor has been garnering increasing popularity among the masses, subject to its delicious taste and increased nutritional content. It is also low on carbs and is gluten-free, making it very popular among health enthusiasts. Butter pecan segment may depict 12% CAGR through 2026.
An ever-popular option, manufacturers bank on the popularity of the cookies and cream flavor to bring in increased sales. Cookies and cream segment may observe over 13% CAGR through 2026. The caramel segment will also register over 13% CAGR through the projected timeline.
The mint choco chip flavor has been gaining tremendous appreciation among the masses. Mint is not only the ideal flavor for the summer months, but is also loaded with nutrients. Blended with the chocolate, the ever-popular flavor, the resultant product has found a comfortable space on supermarket shelves. Increasing number of launches of a variety of mint choco chip non-dairy ice creams will also augment the segment growth.
The others segment, inclusive of peanut butter, mango, blueberry, and banana accounts for more than 25% revenue share.
In terms of the product landscape, non-dairy icecream market is divided into take home, impulse, and artisanal. Most health enthusiasts drift toward artisanal icecreams on account of the low presence of sugar as well as added preservatives.
The impulse segment accounts for a market share of 30%.
In terms of the form, non-dairy icecream market is bifurcated into blends and singles. Blends segment is anticipated to depict 13.5% CAGR through 2026.
The singles segment is expected to witness appreciable growth prospects on account of the well-established consumer interest for plain vanilla and chocolate flavors.
With respect to the distribution channel, non-dairy icecream market is segmented into online stores, supermarkets, restaurants, convenience stores, food and drink specialists, and others, including food vans, natural product stores, pharmacies, etc.
While convenience stores segment accounts for more than 20% market share, others segment holds a share of 5%. Food and drink specialists segment will register over 13% CAGR through 2026. Restaurants will surprisingly hold an appreciable share, driven by the rising demand for frozen desserts, in blended and single forms.
Among all the distribution channels though, supermarkets seem to have garnered appreciable popularity, owing to the changing preferences of consumers toward sweetened or unsweetened icecreams, with or without the addition of legumes and nuts, etc. This has led to supermarkets being highly proactive in increasing their stocks and inventories from time to time.
Regionally, non-dairy icecream market enjoys substantial revenue proceeds across Europe, Asia Pacific, Middle East and Africa, Latin America, and North America. Of these, LATAM holds a revenue share of 7% worldwide. MEA is surprisingly depicting excellent growth prospects, on account of the expansion of the cold chain sector in the region. Driven by the rising demand for functional food and beverage products in tandem with increasing requirement for health foods, MEA market may depict 11.5% CAGR through 2026.
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