14-Sep-2020 | Zion Market Research
As per Zion Market Research, the global dairy-free ice cream market was capitalized at USD 490 million in 2019 and is projected to grow at a steady 15.2% CAGR in the coming years. Rising awareness related to health, increasing cases of milk related health problems such as lactose intolerance, and socialization trends are predicted to power the market development in the coming years.
The market exhibits low to moderate entry hurdles for the newbies. Major players active in the market are Tofutti brands, Inc.; General Mills, Inc.; Booja-Booja; Uniliver; and Bliss Unlimited, LLC. The global market is boosted by acquisitions and mergers as well as product innovation. For example, Uniliver purchased Talenti Gelato e Sorbetto in 2014 and this acquirement elevated the share of Uniliver in the global dairy-free ice cream market.
Swift Elevation In Commercialization To Power The Development Of Dairy-Free Ice Cream Market
Swift elevation in commercialization, together with increasing production of plant based milk, is a major factor powering the development of dairy-free ice cream market. Technological advancements and product innovation for improving taste in the sector offer a positive outlook to the market.
Various product roll outs with different preferences and taste will act as a catalyst for the market in the years to come. For example, besides its current flavors, Ben & Jerry’s launched different other flavors, specifically for the UK. Rising number of distribution channels due to penetration of different MNC’s in the industry will power the general sales volume of the goods.
North America Added Up For A Huge Share Of The Market And Predicted To Grow At An 11% CAGR In The Years To Come
North America added up for a huge share of the market and is predicted to grow at an 11% CAGR in the years to come. Requirement for vegan ice cream is predicted to elevate owing to increasing awareness about health problems owing to lactose in the milk. The ice cream giant in North American, Ben & Jerry’s, has been one of the top players in vegan and dairy-free flavored frozen desserts. Its unique portfolio of dairy-free products has allowed it to grab a hug share in the market, powering the regional development.
Asia Pacific is a major regional market as India and China mutually added up for more than 33% of the global population and China is one of the top users of ice cream. Asia Pacific is expected to clock a 16% of CAGR in the years to come. Europe is the quickest developing regional market, growing at a 20% CAGR in the years to come. Altering inclinations towards vegan goods and changing lifestyle are powering the requirement for the goods in the region are some other factors powering market growth in Europe.
Browse the full “Dairy-Free Ice Cream Market Size, Share & Trends Analysis Report -By Source (Coconut, Almond, and Soy) By Distribution Channel (Online, Convenience Stores, and Supermarket/Hypermarket), By Flavor (Vanilla, Strawberry, and Chocolate), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/dairy-free-ice-cream-market
The global dairy-free ice cream market is segmented as follows:
By Distribution Channel
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