Over the last few years, the non-dairy ice cream market has earned its rightful place in the food industry akin to its conventional counterpart. These new plant-based dessert options have risen to fame on account of the rising vegan population, food intolerances or dietary restrictions among the growing urban population. According to the latest research report by Global Market Insights, Inc., the non-dairy ice cream market is estimated to exceed $1 billion by the end of 2024.
What would be some of the most prominent trends prevalent in non-dairy ice cream market?
The rising trend of veganism along with consumer inclination towards a healthy diet are among the primary trends boosting non-dairy ice cream market growth. Of late, rising purchase parity has led to increased consumer spending on products like desserts and other functional food items, that would help drive the demand for non-dairy ice creams. In addition, changing consumer preferences toward unique products and flavors owing to disruptive social trends will also aid non-dairy ice cream market expansion.
What would be responsible for the surging adoption rate of non-dairy ice-creams in the coming years?
The adoption of non-dairy ice cream products is estimated to increase solely due to advancements in the types of machinery and the rising trend of innovating unique products, chiefly using vegan ingredients like hemp milk and avocado. Other important factors like the increased availability of raw materials coupled with convenient production processes are also considered to be major factors supporting the adoption of non-dairy ice creams as opposed to traditional ones.
How will the deployment of coconut milk and chocolate as prime sources help augment the market share?
Coconut milk is considered to be one of the most primary sources for non-dairy ice cream production. Indeed, as per estimates, coconut milk held over 30% of the global non-dairy ice cream market share in 2017. Health benefits associated with the product paired with ease in production and texture compatibility are among the major factors driving product demand. Also, a rapid increase in brands providing coconut-based products has helps stimulate the industry trends.
However, in the coming years, almond milk is projected to register a higher CAGR due to factors like changing taste preferences and increasing number of product launches. Chocolate-based non-dairy ice cream market size is also expected to grow at a CAGR more than 14.5% between 2018 to 2024. A wide range of product offerings with chocolate as a prime ingredient, including variants such as chocolate chips and dark chocolate will continue to boost the chocolate-based non-dairy ice cream market.
Will any specific food trends have the potential to stimulate market growth?
The rapid popularity of artisanal frozen foods is anticipated to augment the non-dairy ice cream market in the coming years. Given the consumer’s growing purchasing power along with the rapid increase in artisanal franchisees in urban locations, artisanal non-dairy ice cream market is anticipated to depict substantial growth. For instance, Alchemy, the New-York based ice creamery that was founded in 2012 began by selling vegan push pops at Smorgasburg and now has over 50 flavors to its name. More artisanal shops like New York and LA’s Van Leeuwen and The Charmery in Baltimore are also taking the market by storm.
Blended flavors are also estimated to witness a massive rise in demand – indeed, blended non-dairy ice cream market size is expected to be pegged at more than 20 million liters by 2024 in terms of volume, to be precise. Flavor innovations will find themselves to be primary growth drivers, specifically in regions like Europe and North America which will eventually stimulate the global non-dairy ice cream market trends.
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