Non-Dairy Ice Cream Market COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028| IMR

Market Overview:

The Non-Dairy Ice Cream Market is valued at USD 637.03 Million in 2021 and is anticipated to reach USD 1643.61 Million over the forecast period 2028, at a CAGR of 14.5%.

Non-Dairy Ice creams are vegan ice creams that are made with coconut milk, almond milk, or soy milk. All of those bases come from plants and do not contain anything that comes from an animal. Non-Dairy Ice Cream is rich in fiber, which has a positive effect on body mass index. The rising demand for vegan food, due to increasing health consciousness and the rising vegan population, increases the demand for Non-Dairy Ice creams. The increase of health-conscious consumers and planetary concerns drives the growth of the market.

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• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

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Market Dynamics:

Driver:
The major factor driving the growth of the market is the increasing demand for a large number of flavors by ice cream lovers. Additionally, the increase in the availability of including mint chips, peanut butter, strawberry, vanilla, fudge brownie, raspberry, and many others driving the market growth. Research and development proficiencies are being conducted to study the health effects of vegan products on the immunity system are also boosting the Non-Dairy Ice cream market growth. The increasing inclination of consumers toward plant-based milk is also considered a driving factor of the market.

Opportunities:
Increasing expenditure for research and development activities, especially in developed and developing regions will create growth opportunities for the market. The key players are investing in their research and development activities in order to come up with dairy-free frozen desserts, including ice creams create opportunities for growth. Moreover, changing lifestyles of individuals, rising occurrences of lactose intolerance and milk-related allergies create growth opportunities for the market. The increasing product innovations and development due to technological advancements provide additional growth opportunities for the market during the forecast period.

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help

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Market Segmentation

Segmentation Insights
Based on Source, the coconut milk segment is dominating the market owing to easy availability less cost and easy processing compared to other segments has propelled the growth of the market. In addition, high demand from the consumers for coconut milk and promotion by many brands leads the market growth during the forecast period.
Based on Flavor, the chocolate flavor segment is projected to account for the largest share in the market due to demand in school kids to all ages of a group, followed by vanilla flavor accounted the major share.

Based on Distribution Channels, supermarket/hypermarkets segment is projected to account for the largest share in the market due to easy availability with a variety of ice cream at one roof, and promotion strategies compare to others channels.

By Product Type
• Artisanal
• Impulse
• Take Home

By Source
• Coconut Milk
• Soya Milk
• Almond Milk
• Cashew Milk

By Form
• Singles
• Blends
By Flavour
• Chocolate
• Vanilla
• Caramel
• Coffee
• Others

Regional Insights
North America region dominating the non-dairy ice cream market and is expected to continue during the forecast period. Increasing demand for vegan ice cream owing to the rising health consciousness due to lactose in the milk. The new product line by leading key players Ben and Jerry are dairy-free and vegan flavored desserts enabled to capture significant market share, hastening the regional growth.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Players Covered in Non-Dairy Ice Cream Market are:
• Happy Cow Ltd.
• Nestle
• Ben and Jerry's Home Made
• Wells Enterprise
• Over the Moo
• Bliss Unlimited LLC.
• BOOJA-BOOJA
• Van Leeuwen Ice Cream LLC.
• Tofutti Brands Inc.
• Eden Creamery LLC.
• Waitrose and Partners
• Traders Joe's.
• Unilever
• General Mills

Key Industry Developments In Non-Dairy Ice Cream Market

In February 2019, A Unilever Brand, Magnum ice cream declared that the launch of new magnum non-dairy frozen dessert bars in the United States. This launch of a new product will upgrade the company's product portfolio and strengthen its market share in the region.

In April 2017, Danone S.A. declared that they have signed the agreement to the accession of the company WhiteWave Foods Co with an investment of around USD 12.5 Billion. This acquisition will help the Danone company to develop new and innovative products, augment its distribution network, and strengthen its position in the non-dairy ice cream market.

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