USD 685 Million
Vegan Ice Cream Market Size, Share, and Growth Analysis
Vegan Ice Cream Market By Flavor (Caramel, Fruit), By Distribution Channel (Hypermarkets/Supermarkets, Online), By Source (Coconut Milk, Soy Milk), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG30I2418 |
Region:
Global |
Published Date: January, 2025
Pages:
188
|Tables:
123
|Figures:
75
Format -
Vegan Ice Cream Market Insights
Global Vegan Ice Cream Market size was valued at USD 685 Million in 2023 and is poised to grow from USD 758.3 Million in 2024 to USD 1710.09 Million by 2032, at a CAGR of 10.7% during the forecast period (2025-2032).
A growing number of people opting for plant-based diets on the back of the rising popularity of veganism are slated to boost the sales of vegan ice cream on a global level. The surge in incidence of lactose intolerance among people around the world is also a key factor promoting the consumption of vegan ice cream. High emphasis on sustainability and growing awareness regarding animal welfare are expected to bolster the demand for dairy-free alternatives such as vegan ice cream products in the long run. Increasing availability of a wide variety of flavors in vegan ice cream to cater to a diverse consumer base is also slated to benefit the global vegan ice cream market growth going forward. Growing accessibility to vegan ice cream via different distribution channels and rising health-consciousness among people are also estimated to create new opportunities for vegan ice cream suppliers over the coming years. However, high costs of production, limited shelf life, competition from other dairy-free alternatives, and limited awareness in certain regions are estimated to impede the demand for vegan ice cream across the study period and beyond.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Hypermarkets/Supermarkets
Fastest Growth
Online
Growth Rate
10.7% CAGR
Global Vegan Ice Cream Market ($ Bn)
Country Share for Europe Region (%)
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Vegan Ice Cream Market Segments Analysis
The global vegan ice cream market is segmented based on source, flavor, sales type, distribution channel, and region. Based on source, the market is segmented into coconut milk, soy milk, almond milk, cashew milk, and others. Based on flavor, the market is segmented into caramel, chocolate, coconut, coffee, vanilla, fruit, and others. In terms of distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, and online. Based on sales type, the market is segmented into impulse, take home, and artisanal. By region, the market segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.
Analysis by Flavor
Caramel flavor is forecasted to account for a significant chunk of the global vegan ice cream market share over the coming years. Caramel flavor gives the closest replication of a traditional ice cream for vegan ice cream consumers, which is why it is the most popular flavor in the industry. Creamy texture and easy pairing of caramel flavor with multiple plant-based milk alternatives are also contributing to the dominant stance of this segment. Surging demand for luxurious dessert experiences among vegans and the ability of caramel flavor vegan ice cream to deliver the same is also helping this segment lead revenue generation for all companies.
Meanwhile, the demand for fruit flavored vegan ice cream is slated to rise at a notable pace going forward. The highly authentic taste of fruit flavored vegan ice cream is driving up its popularity among consumers. Fruits also act as natural sweeteners and eliminate the need for additional sugar, which in turn makes fruit flavored vegan ice cream a much healthier option for all types of consumers. The availability of a wide variety of fruits to create multiple types of vegan ice cream flavors are also predicted to help this segment generate new opportunities across the global vegan ice cream market forecast.
Analysis by Distribution Channel
Supermarkets/hypermarkets are forecasted to account spearhead sales in the global vegan ice cream industry going forward. High availability of a wide variety of products and multiple options for consumers to choose from makes supermarkets and hypermarkets a preferred distribution channel for all vegan ice cream vendors. Growing investments in the development of retail infrastructure and the high availability of discounts are expected to further create new opportunities for this segment in the long run. The extensive marketing reach of brands in these establishments and increasing availability of vegan and plant-based alternatives in supermarkets are also slated to cement the dominance of this segment through 2032.
On the other hand, the demand for vegan ice cream via online channels is slated to rise at an impressive CAGR over the coming years. Rising preference for online shopping and booming e-commerce industry are expected to make this a highly opportune segment for vegan ice cream suppliers. Growing preference for convenience among consumers and availability of multiple vegan ice cream products to choose from are offering new business scope for market players. Targeting online channels can help vegan ice cream companies expand their reach into new consumers and even enter new countries to maximize their revenue generation potential in the long run.
Global Vegan Ice Cream Market By Distribution Channel
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Vegan Ice Cream Market Regional Insights
Europe is slated to spearhead the consumption of vegan ice cream on a global level. Rapidly increasing number of vegans, high emphasis on sustainability, and presence of a highly health conscious and aware consumer base helps this region lead the sales of vegan ice cream going forward. Increasing willingness of people to experiment and try out new products is also forecasted to boost sales of vegan ice cream in Europe. The United Kingdom, France, and Germany are slated to emerge as the most opportune countries for vegan ice cream companies looking to make a mark in the European region across the forecast period and beyond.
The Asia-Pacific region is slated to emerge as the fastest growing market for vegan ice cream suppliers in the long run. Rising incidence of lactose intolerance, growing adoption of plant-based diets, and increasing awareness regarding the benefits of veganism make the Asia Pacific region a highly opportune market. Growing concerns regarding ethical sourcing of food and rising number of vegan-friendly stores and restaurants are also contributing to the increase in sales of vegan ice cream. Japan, China, India, and Indonesia are estimated to be the most rewarding markets for vegan ice cream suppliers in this region.
Global Vegan Ice Cream Market By Geography
- Largest
- Fastest
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Vegan Ice Cream Market Dynamics
Drivers
Surge in Adoption of Plant-based Diets
- A growing number of people are opting for plant-based diets and food products owing to the rising popularity of veganism and high emphasis on animal welfare. Health-conscious consumers are preferring vegan ice cream made from almond, coconut, soy, and oat milk owing to their ethical considerations thereby driving the global vegan ice cream market outlook.
Increasing Incidence of Lactose Intolerance
- The number of people suffering from lactose intolerance around the world is increasing at a rapid pace. This surge in lactose intolerance has bolstered the demand for dairy-free alternatives such as vegan ice cream around the world, which is why more companies are investing in the development of vegan and plant-based dairy alternatives.
Restraints
Limited Shelf Life
- The absence of dairy preservatives and additives reduces the shelf life of vegan ice cream products. This shorter shelf life of vegan ice cream creates issues for logistics handling and distribution for manufacturers as well as suppliers. Investing the R&D of plant-based preservatives to extend the shelf life of vegan ice cream can help companies overcome this restraint.
High Costs of Production
- Production of vegan ice cream involves the use of specialized plant-based ingredients such as cashew milk and coconut milk, which is expensive to procure. Moreover, the use of advanced manufacturing techniques and equipment for vegan ice cream production also adds up to the cost and makes vegan ice cream expensive thereby limiting its adoption in price-sensitive markets and consumers.
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Vegan Ice Cream Market Competitive Landscape
As per this global vegan ice cream market analysis, companies should focus on launching new products with unique flavors to stay competitive and boost sales. Providing artisanal and premium vegan ice cream products can also help market players enhance their revenue generation potential on a global level. Targeting countries such as the United Kingdom, India, Indonesia, and the United States is slated to present new opportunities for vegan ice cream vendors through 2032.
Top Players in Vegan Ice Cream Market
- Bliss Unlimited LLC. (U.S.)
- General Mills Inc. (U.S.)
- Wells Enterprises. (U.S.)
- Happy Cow Ltd. (India)
- McDonald's. (U.S.)
- Nestlé S.A. (Switzerland)
- Tofutti Brands, Inc. (U.S.)
- Unilever (U.K.)
- Wm Morrison Supermarkets Limited (U.K.)
- boojabooja (U.S.)
- Eden Creamery LLC. (U.S.)
- Over The Moo (Australia)
- Waitrose & Partners (U.K.)
- DREAM (U.S.)
- NADAMOO (U.S.)
- Van Leeuwen Ice Cream LLC (U.S.)
- Trader Joe's (U.S.)
- Ben & Jerry's Homemade, Inc. (U.S.)
Recent Developments
- In June 2024, McDonald’s, a renowned American fast-food chain announced the launch of a new dairy-free ice cream-style frozen dessert. Dubbed Vegan Scoop, the new dessert is available in two flavors namely Choco and Strawberry. The move is aimed at attracting vegan customers.
- In February 2024, Magnum, a leading ice cream brand owned by Unilever announced the launch of its new Chill Blueberry Cookie ice cream sticks. The product was launched in the United Kingdom and is an effort by Unilever to expand its plant-based product range to cater to the rising number of vegans in Europe.
- In February 2023, Keventers, an Indian milkshake brand operating since 1925 announced the launch of its first vegan ice cream range in India. Vegan Strawberry and Vegan Dark Chocolate ice creams made with coconut milk were the two ice cream flavors launched by Keventers in all of its stores.
Vegan Ice Cream Key Market Trends
- Use of Innovative Milk Bases: Vegan ice cream manufacturers should focus on expansion of milk bases using innovative products beyond the traditional almond and coconut milk bases. Oat milk, cashew milk, and hemp milk are emerging as popular alternatives to traditional plant-based milk used in the production of vegan ice cream in the long run.
- Emphasis on Artisanal and Premium Products: Vegan ice cream providers are expected to experiment with premium and artisanal products to improve their brand identity and attract new consumers seeking unique experiences. Focusing on this vegan ice cream market trend can help companies expand their flavor bases and product portfolio by incorporating artisan flavors, organic ingredients, and exotic inclusions (e.g., matcha, activated charcoal).
Vegan Ice Cream Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, high incidence of lactose intolerance and growing adoption of plant-based diets are key factors promoting the demand for vegan ice cream. However, high costs of production and limited shelf life are expected to hamper sales of vegan ice cream in the future. Europe is slated to spearhead the demand for vegan ice cream owing to rising vegan population and high emphasis on sustainability in countries such as the United Kingdom, France, and Germany. Development of artisanal and premium vegan ice cream using innovative milk bases can help vegan ice cream companies expand their business scope through 2032 and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 685 Million |
| Market size value in 2032 | USD 1710.09 Million |
| Growth Rate | 10.7% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vegan Ice Cream Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vegan Ice Cream Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vegan Ice Cream Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vegan Ice Cream Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vegan Ice Cream Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vegan Ice Cream Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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