Plant-based ice cream is prepared from plant-based ingredients, including soy milk, almond milk, coconut milk, cashew milk, and others. Plant-based ice creams, further known as vegan ice creams, promote effortless weight loss, minimize the risk of cardiac diseases, also enhances skin texture. Plant-based ice creams are further available in different flavors like chocolates, caramel, orange, coconut, strawberry, and others. Growing consumer preference for a flexitarian diet has further fueled the growth of the plant-based ice-creams market. In addition, consumers are limiting their dairy products consumption, owing to rise in health concerns, which propel the growth of the market.
MARKET SCOPE
The "Global Plant Based Ice Cream Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the plant-based ice cream market with detailed market segmentation by product type, source, distribution channel, and geography. The report provides key statistics on the market status of the leading plant-based ice cream market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global plant based ice cream market is segmented into bars, cones, tubs and cups, and others
- Based on source, the global plant based ice cream market is segmented into soy milk, coconut milk, almond milk, cashew milk, and others
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, specialty stores, online retail, and others.
MARKET DYNAMICS
Drivers
- Increasing demand for plant-based sweet desserts among consumers
- Growing consumer curiosity about vegan ice cream treats
- Introduction of innovative flavors by artisan ice cream makers
Restraints
- High price of plant-based ice creams may restrict the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The plant-based ice cream market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the plant-based ice cream market in these regions.
IMPACT OF COVID-19 ON PLANT BASED ICE CREAM MARKET
As of May 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the plant-based ice cream market. However, as the economies are planning to revive their operations, the demand for plant-based ice cream is presumed to rise since consumers are buying more food products through online retailers. Some of the safety measures followed by the companies include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
MARKET PLAYERS
The report covers key developments in the plant-based ice cream market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the plant-based ice cream market are anticipated to lucrative growth opportunities in the future with the rising demand for plant-based ice cream in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the plant-based ice cream market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Arctic Zero, Inc.
- Ben & Jerry's Homemade, Inc.
- Bliss Unlimited, LLC,
- Happy cow ltd.
- Jollyum Co.
- Klein's Ice Cream Inc.
- LUV Ice Cream LLC
- Oatly AB
- The Booja-Booja Co.
- Tofutti Brands Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.