Plant-based Ice Creams Market Size - By Form (Blends, Singles), By Flavor (Beans, Nuts, Fruits, Herbs), Packaging Type (Tubs, Cones, Bars), Source (Coconut Milk, Soy Milk, Almond Milk, Cashew Milk), Distribution Channel & Global Forecast, 2023 - 2032

Plant-based Ice Creams Market Size - By Form (Blends, Singles), By Flavor (Beans, Nuts, Fruits, Herbs), Packaging Type (Tubs, Cones, Bars), Source (Coconut Milk, Soy Milk, Almond Milk, Cashew Milk), Distribution Channel & Global Forecast, 2023 - 2032

Plant-based Ice Creams Market size is set to expand at 4.6% CAGR from 2023-2032 propelled by the burgeoning vegan and lactose-free trends. The rising consumer adoption of plant-based diets for ethical and environmental reasons is surging the demand for dairy-free frozen treats. Plant-based ice creams, crafted without animal-derived ingredients, cater to the growing vegan demographic. Additionally, the rising awareness of lactose intolerance is expected to boost the demand for lactose-free alternatives.

Moreover, several leading and emerging brands are continuously coming up with new products, contributing to the market diversification and expansion. For instance, in May 2023, Häagen-Dazs introduced a new line of plant-based ice cream designed for flexitarians to incorporate more plants into their diet.

The plant-based ice creams industry is segmented into form, flavor, packaging type, source, distribution channel, and region.

Based on form, the market share from the blends segment is poised to record 5.5% CAGR from 2023-2032. Blends have gained popularity amongst consumers seeking diverse flavors and textures as they combine various plant-based ingredients to create unique and indulgent ice cream experiences. Moreover, innovations in blending ingredients, such as coconut, almond, and soy, have resulted in creamy and satisfying alternatives to traditional dairy ice creams. The versatility of blends also allow manufacturers to cater to a broad range of taste preferences, contributing to the segment expansion.

With respect to source, the almond milk-based ice cream market is estimated to depict 4% growth rate between 2023 and 2032. Almond milk serves as a popular and versatile base for plant-based ice creams as it offers a creamy texture along with mild and nutty flavor. Almond milk-based ice creams are often perceived as a delicious and nutritious choice, further attracting health-conscious and environmentally aware consumers.

Regionally, the Asia Pacific plant-based ice cream market is set to exhibit a 4% growth rate from 2023-2032 driven by the growing consumer shift towards healthier and sustainable food choices. The rising trend of veganism and the increasing lactose intolerance awareness is prompting several industry participants to focus on developing innovative flavors and improving product quality to cater to diverse consumer preferences, accelerating the regional industry expansion. For instance, in December 2023, OATSIDE expanded its product line to include a variety of ice creams as part of its growth plan, owing to the growing popularity of its oat milk products throughout Asia.