With growing consumer inclination towards health and hygiene along with the adoption of functional foods & beverage across the world, non-dairy ice cream industry is set to gain massive momentum over the upcoming years.
Additionally, rising cases of milk allergies and lactose intolerance among consumers has instigated the consumption of dairy substitute products to a great extent. This has urged manufacturers to use healthier ingredients instead of dairy counterparts in order to gain a large customer base. Further, factors such as lower calories and high protein benefits will stimulate the demand for dairy-free ice cream and other products. For instance, in 2019, Alpro brand by Danone announced the launch of low-calorie soya-based alternative ice cream to serve the increasing demand from health-conscious consumers preferring to cut down calories.
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According to Global Market Insights, Inc., non-dairy ice cream market share is poised to exceed USD 1 billion by 2026, on account of below mentioned trends:
Strategic initiatives by major industry players
Prominent industry players such as Danone, General Mills, Bliss Unlimited LLC, Tofutti Brands, etc. are inclined on developing various strategic initiatives such as new product launches, partnerships, mergers, acquisitions and R & D activities in order to gain a strong market presence. For instance, in 2020, HumanCo, the health driven holding company focusing on healthier living and sustainability, announced taking over a majority stake in renowned organic, vegan ice cream firm Coconut Bliss. Apparently, the strategic initiative is aimed at making Oregon-based ice cream producer a globally recognized brand.
Burgeoning demand for artisanal products
Artisanal product segment is anticipated to experience an appreciable growth over the forthcoming years on account of heightened product demand owing to its availability in attractive dessert combination, added preservatives content, & lower sugar level.
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Heightened popularity of strawberry flavored non-dairy ice creams
Strawberry flavored non-dairy ice creams are expected to witness a substantial growth rate of 14% through 2026 considering massive adoption of artificial strawberry flavorings and aromas by the industry participants for several frozen desserts due to elevating demand from flexitarian and vegetarian population. In addition, the presence of essential nutrients such as vitamin C and K, folate and potassium in strawberry which helps in reducing the risk of cancer, heart attack and atherosclerosis has also evoked the product demand significantly. Further, increasing food product launches with strawberry flavor blends and plant milk sources will allow companies to effectively serve the changing consumer tastes and preferences.
Growing preference for online stores
Online stores segment is estimated to record a notable growth rate of 13.5% through 2026. This can be credited to growing popularity of online sales channels which have created potential opportunities for increasing the sales of prominent global and regional online retailers such as Amazon, Vegan Online, Goodness Direct, etc. This is majorly due to the important benefits endowed by online sales channels such as availability of a wide variety of products along with home delivery options by major participants.
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Increasing consumer inclination towards health & fitness in Asia Pacific
Asia Pacific non-dairy ice cream industry is projected to observe a significant CAGR of 13% through 2026 owing to the rising prevalence of lactose intolerance and milk allergies among the residents. Moreover, shifting consumer inclination towards animal welfare and vegetarian diets has also played a key role in fostering product adoption. Other important growth inducing factors for the market are growing disposable income, liberalization of FDI in the food industry along with increasing focus on health & fitness in the region.
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Related Report from Other Source: Non-Dairy Ice Cream Market to Hit $1 Billion by 2026, Says Global Market Insights, Inc.
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