Plant based ice-creams are ice-creams which are made of coconut milk, almond milk and soy milk without any dairy ingredients. It is made up of lactose-free milk which does not cause any intolerance or allergy. Plant based ice-creams demand has gone to conventional with varieties of flavors introduced by the brands which are beneficial for health and complexion. Plant based ice-cream is free from lactose, people who are suffering from lactose intolerance, have decided to become vegan and started consuming plant based ice-cream. Basically, plant based ice-creams were created for the consumers who are suffering from allergies or are lactose intolerant but today it is more often consumed by the younger generation as they represent more of a lifestyle choice.
Plant Based Ice-creams: Segmentation
Plant based ice-creams market is segmented on three basis product type, packaging and distribution channel. On the basis of product types plant based ice-creams market is segmented into Soy milk based, coconut milk based, almond milk based, cashew milk, rice milk based and others. Soymilk based ice-cream is probably the largest segment demanded by the consumers followed by almond milk ice-creams. As soy milk based ice cream is easily available and has cheaper prices as compared to almond, coconut, and other raw material based ice-cream. Almond based ice-cream is expected to be the fastest-growing market. On the basis of package type, organic ice market is segmented into tub and bag/sachet. On the basis of the distribution channel, the plant based ice-cream market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, health food stores and others such as independent retailers, e-retailers. Supermarket/hypermarket is the largest segment to the plant based ice-cream market.
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Plant Based Ice-creams: Region wise outlook
Depending on geographic regions, global plant based ice-creams market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, and Middle East & Africa.
The plant based ice-cream market is projected to grow globally, Asia-pacific region has dominated the market globally and is expected to grow at the highest growing rate owing to increasing population of lactose intolerance. The consumers are shifting their liking towards almond based ice- cream as it consists of high nutritional values and taste better than soy milk ice-cream. The Demand of lactose free ice-cream is rising in U.S., UK and Germany is expected to rise in future.
Market Dynamics of Plant Based Ice-creams:
Dairy product are not good for lactose sensitive or special medical condition consumers, as calories in the whole milk comes from fat and its carbohydrates come from sugar in the form of lactose which cannot be digested easily by the many people . Although the demand of plant based ice-cream is no longer strictly demanded by consumers with special dietary requirements but by health conscious consumers also. Increasing consumer preference for plant-based food globally, driving the market growth for plant based ice-creams.
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Plant based ice-cream market is probably to grow at a substantial rate as a number of health awareness consumer is rising due to the nutritional benefits which is offered by plant based ice-creams and which has also resulted increasing consumers of vegan products which are expected grow the market during the forecast period.
The major restraints for the plant based ice-creams markets are raw material processing cost and sustainable supply throughout the year. Another factor retraining the market is nutty taste for soy and other nuts not similar to milk based ice-creams. Hence, opportunity for market growth is to develop and launch good tasting ice-cream variants to attract common consumers.
Plant Based Ice-creams: Key players
Some of the key players in the plant based ice-creammarket include The Coconut Collaborative, Swedish Glace, Perfect World, , Almond Drea, Booja-Booja , Turtle Mountain’s, , Smooze!, some retail stroes have their inhouse brands operats thorugh their stre network, such as Tesco’s Free From range and Marks and Spencers Made Without Dairy range are gaining popularity among the regular customers.
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