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Non-Dairy Ice Cream Market Analysis
- Report ID: GMI1786
- Published Date: Feb 2023
- Report Format: PDF
Non-Dairy Ice Cream Market Analysis
The non-dairy ice cream market size from the chocolate flavor segment is expected to depict a 10.5% CAGR during the forecast timeline. The emergence of new trends in the food sector, such as vegan chocolate, owing to their health benefits, such as low cholesterol and fat, is accelerating the demand for chocolate-based flavorings. In addition to its taste appeal, cocoa is also considered to have significant health benefits due to its high magnesium and iron content. Several leading chocolate manufacturers are thus foraying into the vegan trends with the development of innovative recipes.
The impulse product segment is anticipated to record a 10.5% CAGR through 2032, attributed to the surging young population and the increasing female workforce. However, the fast-paced lifestyles and hectic schedules have popularised on-the-go food products across developed and developing economies. A remarkable growth in the number of impulse buyers credited to the multiple benefits associated with these products, including affordability and convenience will also spur the industry outlook. As proof, according to a surgery conducted by Slickdeals, one of the largest shopping platforms, the average spending of shoppers on impulse purchases has jumped from USD 276 in 2021 to USD 314 in 2022.
The non-dairy ice cream market valuation from supermarkets segment is estimated to reach USD 750 million by 2032. Supermarkets are one of the most preferred choices for shopping, particularly for food and beverage products. They offer numerous benefits to shoppers, including access to a wide variety of products, competitive pricing, a one-stop shopping experience, convenience, and attractive loyalty programs. Significant investments in supermarket infrastructure development and the ongoing expansion of existing supermarket chains will fuel the sales of non-dairy ice creams across this distribution channel. For instance, in June 2022, the U.S. Department of Agriculture (USDA) announced a partnership with the Reinvestment Fund to infuse USD 22.6 million into the improvement of access to healthy foods for underserved communities across the nation.
In terms of revenue, the non-dairy ice cream market share from the singles form segment is poised to surpass USD 1.3 billion by 2032, credited to the increasing consumer interest in customized blend ice creams and novel flavors. These products offer a wide variety of dessert choices to vegan consumers, allowing individuals with dairy or milk allergies to enjoy a cold dessert. The growing health concerns among young children regarding allergies associated with the consumption of cow’s milk are propelling the need for vegan ice creams. Additionally, the ease of consumption and convenient packaging are other criteria driving consumer inclination toward non-dairy ice cream singles.
The North America non-dairy ice cream market analysis will expand at a 10% CAGR till 2032. The increasing consumer awareness and changing dietary preferences are fueling the consumption of plant-based foods and vegan alternatives across the U.S. and Canada. In Canada alone, more than 40% of the population is transitioning to adopting a vegan lifestyle by incorporating plant-based foods. The rapid penetration of vegetarian and flexitarian lifestyles will further complement the industry outlook. Furthermore, the rising prevalence of lactose intolerance risk factors such as celiac disease, bacterial overgrowth, and Crohn’s disease in the U.S. and Canada will accelerate the need for plant-based foods.
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Non-Dairy Ice Cream Market Scope
