Newark, NJ, Feb. 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global non-dairy ice cream market is expected to grow from USD 505 million in 2019 and to reach USD 1390.77 million by 2027, growing at a CAGR of 13.5% during the forecast period 2020-2027.
The global non-dairy ice cream market is witnessing significant growth from recent years. This growth is attributed to the rising incidences of lactose intolerance and various other milk-related health issues, growing plant-based milk production, technological advancement, and product innovation for enhancing taste. Other factors like multiple products launches with different tastes and preferences, increasing consumer awareness of nutrient intake levels, and the widescale availability of frozen desserts in various flavors will propel the market growth.
Ice creams made of milk and milk substitutes like creamy coconut, full-fat milk, soy milk, almond milk is known as non-dairy ice creams. Most of the non-dairy ice creams involve cocoa butter and guar gum; it is a thickening agent made of guar beans that encourages and prevents ice crystals from forming. The non-dairy ice creams are good for the environment than the traditional ice creams. They provide exemplary health benefits like reducing bloating, clears skin and highly suitable for people with allergies.
The global non-dairy ice cream market is expected to witness significant growth, owing to the rise in the vegan and flexitarian population in developing and developed nations, high protein benefits and low-calorie content, growing consciousness towards environment protection and animal welfare programs, and high nutritional value and functionality profile of plant-based dairy alternative. Harmful effects of the source by which ice-creams are made, a variation of nutritional content in the products, and high consumption of almond milk lead to discomfort and bloating will hamper the market growth.
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The key players operating in the global non-dairy ice cream market are General Mills Inc., Eden Creamer LLC, Swedish Glace, Dunkin’ Brands, Tofutti Brands Inc., Trader Joes, Baskin-Robbins, Danone, Unilever, Bliss Unlimited LLC, Happy Cow Limited, Over the Moo, NadaMoo, Van Leeuwen, and Booja Booja. To gain a significant market share in the global non-dairy ice cream market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Dunkin’ Brands and Baskin Robbins are some of the key manufacturers of non-dairy ice cream.
- For instance, in 2019, Noga Ice Cream limited, a part of nestle-owned business Osem Group, was acquired by Froneri. The Froneri aims to enter Isreal’s market and capture the growing demand of consumers.
- In April 2017, Danone acquired WhiteWave Foods Co and invested 12.5 billion. This will help Danone to develop new innovative products, strengthen its position in the non-dairy ice cream industry and increase its distribution network.
Chocolate segment dominated the market and held the largest share of 20.6% in the year 2019
On the basis of flavour, the global non-dairy ice cream market is segmented into vanilla, butter pecan, chocolate, mint choco chip, caramel, strawberry, neapolitan, cookies and cream, and others. Chocolate segment dominated the market and held the largest share of 20.6% in the year 2019. This growth is attributed to the high compatibility with the source material, increased demand for choco chips, and rising consumer awareness regarding the benefits offered by the chocolate.
Coconut Milk segment dominated the market and held the largest share of 31.73% in the year 2019
On the basis of source, the global non-dairy ice cream market is classified into almond milk, coconut milk, cashew milk, soy milk, and others. Coconut Milk segment dominated the market and held the largest share of 31.73% in the year 2019. This growth is attributed to the convenient availability of coconut milk, ease of processing with lower price range, and high demand among consumers. The almond milk segment is expected to witness significant growth due to the shift in consumer preference towards milk and the introduction of different flavors to capture changing demand.
Take Home segment dominated the market and held the largest share of 43.82% in the year 2019
On the basis of product, the global non-dairy ice cream market is segmented into impulse, take home, and artisanal. Take Home segment dominated the market and held the largest share of 43.82% in the year 2019. This growth is attributed to the growing trend of off-premise consumption, availability of home delivery options, and expansion of e-commerce platforms.
Supermarket segment dominated the market and held the largest share of 29.1% in the year 2019
On the basis of distribution channel, the global non-dairy ice cream market is segmented into convenience stores, supermarkets, restaurants, food & drink specialists, online store, and others. Supermarket segment dominated the market and held the largest share of 29.1% in the year 2019. This growth is attributed to the shift in consumer preference towards supermarkets and hypermarkets, retail stores provide easy availability of non-dairy ice creams, and attractive packaging provides easy storage.
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Regional Segment of Non-Dairy Ice Cream Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global non-dairy ice cream market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region held a major share of 28.4% in the year 2019. This growth is attributed to the high consumption levels of ice creams, rapid growth in population rate, and increasing brand offerings. In the region, China and India play a significant role in the non-dairy ice cream market. North America is expected to witness significant growth due to the increasing demand for vegan ice-cream, the rising trend of lactose-free diet patterns, and high innovative flavor launches.
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About the report:
The global non-dairy ice cream market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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