Non-Dairy Ice Cream Market Trends, Share, and Growth (2021-2031)
The non-dairy ice cream market size is projected to reach US$ 4.9 billion by 2031 from US$ 1.9 billion in 2023. The market is expected to register a CAGR of 12.8% during 2023–2031. Marketing a farm story to attract customers and increasing flavor innovations by key players are likely to remain key trends in the market.
Non-Dairy Ice Cream Market Analysis
The non-dairy ice cream market growth is majorly attributed to rising disposable income, rapid urbanization, and increasing living standards. Further, the rising popularity of plant-based products and surging health consciousness among the young population are expected to propel the market growth in the region. Key players in the region are adopting strategic initiatives such as mergers and acquisitions, collaborations, partnerships, and product launches to cater to the growing demand for non-dairy ice cream market in the region.
Non-Dairy Ice Cream Market Overview
In recent years, the non-dairy ice cream market has been experiencing significant growth, driven by increasing consumer demand for plant-based and dairy-free alternatives. Factors such as health consciousness, lactose intolerance, veganism, and environmental concerns have fueled this growth. Major players in the market offer various non-dairy ice cream options made from ingredients like almond milk, soy milk, and cashew milk, catering to different dietary and taste preferences. Innovations in flavors and textures, as well as expanding distribution channels, contribute to the market growth. However, the high price of non-dairy ice creams compared to dairy-based ice creams may hamper the market's growth.
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Non-Dairy Ice Cream Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Non-Dairy Ice Cream Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Non-Dairy Ice Cream Market Drivers and Opportunities
Increasing Incidences of Lactose Intolerance to Favor Market
Increasing incidences of adults and children suffering from lactose intolerance are expected to propel the demand for non-dairy ice cream. According to the National Institute of Diabetes and Digestive and Kidney Diseases, around 68% of the world's population is lactose malabsorption. In addition, the key manufacturers are experiencing a rise in demand for non-dairy ice creams and different flavors. Thus, key regional players are engaged in new product launches. For instance, in September 2021, NATO announced the launch of vegan ice cream in five flavors: dark chocolate, mocha almond, pistachio, salted caramel, and mango & raspberry.
Growing Adoption of Plant-based Products
Registrations for the Veganuary Campaign have increased dramatically over the past few years. Thus, due to the flourishing trend of veganism, the manufacturers of frozen desserts such as ice cream are launching plant-based products. For instance, in May 2021, Whipped Urban Dessert Lab, a New York-based ice-cream parlor, launched 'Taste of Freedom' vegan ice cream. Similarly, in 2022, Unilever's brand Ben & Jerry's launched two plant-based ice creams— "Chocolate Milk and Cookies" and "Dirt Cake". The surging vegan population base is fostering the growth of the non-dairy ice cream market.
Non-Dairy Ice Cream Market Report Segmentation Analysis
Key segments that contributed to the derivation of the non-dairy ice cream market analysis are flavor, source, and distribution channel.
- Based on flavor, the non-dairy ice cream market is segmented into vanilla, chocolate, fruit, and others. The vanilla segment held a larger market share in 2023.
- By source, the market is segmented into coconut milk, almond milk, soy milk, and others.
- In terms of distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarket and hypermarket segment held a significant share of the market in 2023.
Non-Dairy Ice Cream Market Share Analysis by Geography
The geographic scope of the non-dairy ice cream market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. Many domestic and international players in North America such as Unilever, Danone S.A, General Mills Inc., Nestlé S.A, and The Brooklyn Creamery operate in the non-dairy ice cream market. These players are adopting various strategic initiatives such as product launches, mergers, acquisitions, and collaborations to cater to growing consumer demand. For instance, J.D.'s Vegan has been developing and distributing plant-based, GMO-free, and lactose-free ice cream flavors containing fresh-cut slices of fruits and nuts. Hence, including fresh fruit pieces, candy, cake particles, and nuts in ice cream is a fast-growing premium trend in the market, which drives the growth of the non-dairy ice cream market.
Non-Dairy Ice Cream Market Report Scope
Non-Dairy Ice Cream Market News and Recent Developments
The non-dairy ice cream market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the non-dairy ice cream market are listed below:
- Ben & Jerry's is launching a new oat base for its non-dairy ice creams. The new non-dairy ice cream base will be rolled out across tubs and scoop shops during spring 2024. (Source: Company Website, February 2024)
Non-Dairy Ice Cream Market Report Coverage and Deliverables
The "Non-Dairy Ice Cream Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Non-dairy ice cream market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Non-dairy ice cream market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Non-dairy ice cream market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the non-dairy ice cream market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
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The global non-dairy ice cream market is estimated to register a CAGR of 12.8% during the forecast period 2023–2031.
Unilever; Danone S.A.; General Mills Inc; Nestlé S.A.; JUDE'S; OATLY, INC; Tofutti Brands, Inc; Bliss Unlimited, LLC; The Brooklyn Creamery, and NADAMOO are among the prominent players operating in the global non-dairy ice cream market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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