Dairy-Free Ice Cream Market Size & Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Dairy-Free Ice Cream Market


The global Dairy-Free Ice Cream market size is projected to reach US$ 1375.32 million by 2026, from US$ 600.83 million in 2020, at a CAGR of 14.8% during 2021-2026. Increasing awareness about health, rising incidences of lactose intolerance and other milk related health issues, and socialization trends are expected to fuel the market growth in the forecast period.
Rapid increase in commercialization, along with growing plant based milk production, is a key factor propelling the demand in non-dairy ice cream market. Product innovation for enhancing taste and technological advancements in the industry provide a positive perspective to the market.

Multiple product launches with different taste and preferences will act as a stimulant for the market in the forecast period. For instance, apart from its existing flavors, Ben & Jerrys come up with various other flavors, particularly for U.K. Increasing number of distribution channels owing to penetration of various MNCs in the market will propel the overall sales volume of the product.

However, harmful effects of the source by which such ice creams are made may hamper the growth of vegan ice cream market in the long term. For instance, high consumption of almond milk leads to discomfort and bloating, and can eventually reduce food intake. Another restraining factor in the market can be variation of nutritional content in the products. Although, majority of the population is shifting towards plant based ice creams instead of dairy ice creams due to aforementioned factors. This will, in turn, negate the effect of the restraining factors and will lead the dairy-free ice cream market to the positive side.

Market Segmentation, Outlook & Viewpoint: Global Dairy-Free Ice Cream Market

Source Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Coconut
  
Almond
  
Soy

Flavor Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Chocolate
  
Strawberry
  
Vanilla

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Supermarket/Hypermarket
  
Convenience Stores
  
Online

Key Players, Recent Developments & Regional Insights: Global Dairy-Free Ice Cream Market

On the basis of distribution channel, the market is classified into supermarket/hypermarket, convenience stores, and online.   Supermarket/hypermarket is the most preferred distribution channel among consumers owing to easy availability of the products, wide product range, and comparison among the products under one roof.
The online segment accounted for 32.4% share of the overall revenue in 2018 and is expected to emerge as the fastest growing distribution channel. Easy access, availability of discounts, and a wide variety of options to explore are the key factors responsible for the growth of the segment.

Regional Insights

North America accounted for a major market share in 2018 and is anticipated to expand at a CAGR of 10.7% over the forecast period. Demand for vegan ice cream is expected to increase due to growing awareness about health issues due to lactose in the milk. North American ice cream giant Ben & Jerrys has been one of the leading contenders in Dairy-Free and vegan flavored frozen desserts. Its unique line of dairy-free options has enabled it to capture a significant share in the market, propelling regional growth.

Asia Pacific is a prominent regional market as China and India together account for 36.3% of the global population and China is one of the leading consumers of ice cream. Asia Pacific is likely to register a CAGR of 15.4% in the forecast period. Europe is the fastest growing regional market, expanding at a CAGR of 20.0% in the forecast period. Shifting preferences towards vegan products and changing lifestyle are driving the demand for the product in the region.Another factor boosting market growth in Europe is presence of strong players and frequent product launches. Local as well as international brands such as Swedish Glace, Ben & Jerrys, and Booja-Booja will continue to have a positive impact on the regional market.

Dairy-Free Ice Cream Market Share Insights

The market presents moderate to low entry barriers for the new entrants. Key players operating in the market are General Mills, Inc.; Uniliver; Booja-Booja; Tofutti brands, Inc.; and Bliss Unlimited, LLC. The overall market is driven by mergers and acquisitions and product innovation. For instance, in 2014, Uniliver acquired Talenti Gelato e Sorbetto and this acquisition increased Unilivers share in the Dairy-Free market.
Leading companies in the industry are expanding their business globally in order to maximize their profit as well as market share. These companies are shifting from developed to developing countries. For instance, General Mills expanded its operations in more than 100 countries after its success in United States.

Key Insights Covered: Global Dairy-Free Ice Cream Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Dairy-Free Ice Cream industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Dairy-Free Ice Cream industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Dairy-Free Ice Cream industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Dairy-Free Ice Cream industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Dairy-Free Ice Cream industry.

Research Methodology: Global Dairy-Free Ice Cream Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other