The global dairy-free ice cream market size is expected to reach USD 1.2 billion by 2025, expanding at a CAGR of 14.8% in the forecast period. Increasing awareness about health issues due to lactose present in the milk is propelling the demand for vegan ice cream.
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Coconut is a major source for the production of vegan ice cream and it accounted for 37.4% share of the overall revenue in 2018. Easy availability and increasing consumer demand are expected to fuel the demand for coconut milk in vegan ice cream market in the forecast period. Almond milk is the fastest growing segment among all the sources, expanding at a CAGR of 15.8% in the forecast period. Nutritional benefits of almond milk are the key factor responsible for the segment growth in vegan ice cream market.
Non-dairy ice cream is found in various flavors in the market. Chocolate is the most preferred flavor among consumers and it accounted for 36% share of the overall revenue in 2018. Rising demand for chocolate chips among consumers is the key factor for the segment growth in non-dairy ice cream market.
Furthermore, flavor preferences differ from country to country. For instance, lemon is the most favorite flavor among consumers in Europe. Vanilla is the second most preferred flavor in the global non-dairy ice cream market and it is expected to expand at a CAGR of 14.4% in the forecast period.
Supermarket/hypermarket is the most preferred channel among all, expanding at a CAGR of 15.1% in the forecast period. The online segment is anticipated to expand at a CAGR of 16.7% in the forecast period. Shifting consumer preferences towards online shopping have propelled the demand for online stores in the dairy-free ice cream market.
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Further key findings from the study suggest:
- In terms of revenue, supermarket/hypermarket distribution channel is projected to expand at a CAGR of 15.1% over the forecast period
- Coconut is the most preferred source in the market due to its compatibility, easy availability, and increasing consumer demand
- Almond milk is the fastest growing source for the production due to increasing awareness about health and nutritional benefits of almond.
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