The global dairy-free ice cream products market was valued at USD 2.1 billion in 2020 and is expected to expand at a CAGR of 8.5% from 2021 to 2028. The growing awareness of plant-based diets and the increasing number of people following a vegan lifestyle is driving the demand for dairy-free ice cream. Dairy-free ice cream is a healthier alternative to traditional ice cream and offers a variety of flavors, textures, and ingredients. Consumers are increasingly opting for dairy-free ice cream over traditional ice cream due to its nutritional benefits and taste.

The market is witnessing new product launches, which is expected to fuel the market growth. For instance, in April 2021, Ben & Jerry’s launched five new dairy-free flavors such as Salted Caramel Core, P.B. & Cookies, Coconut Seven Layer Bar, Caramel Chocolate Chunk, and Chocolate Fudge Brownie. The increasing popularity of these products is expected to drive the market in the coming years.

Moreover, the growing demand for lactose-free and gluten-free products is further propelling the growth of the market. The increasing demand for clean-label products is also a major factor driving the market growth. Furthermore, the rising demand for organic ingredients and natural sweeteners is also a key factor driving the market.

The increasing focus on research and development activities to provide innovative and healthier products is also propelling the growth of the market. For instance, in October 2020, Ripple Foods, Inc. launched its new line of dairy-free frozen desserts. The product offerings include three flavors, such as Chocolate Fudge, Vanilla Bean, and Salted Caramel. The company is also focused on providing a variety of flavors, textures, and ingredients to cater to the changing tastes of consumers. In addition, the rising demand for convenience foods is driving the market growth. Players are focusing on product innovation to meet the changing needs of consumers.

The non-dairy ice cream segment is anticipated to expand at the fastest CAGR of 9.4% over the forecast period, owing to increasing health consciousness among consumers. According to a report published by the Good Food Institute in 2020, the dairy-free ice cream market is projected to witness an exponential growth in the near future, due to the increasing demand for plant-based products. Furthermore, various advancements in the production of dairy-free ice cream such as the use of pea protein, rice protein, and other plant-based sources are also propelling the growth of the market.

The vegan ice cream segment accounted for a market share of approximately 38.5% in 2020. The increasing number of vegan consumers is another major factor driving the growth of the vegan ice cream market. According to an article published by the Food Navigator in May 2020, the vegan ice cream market is expected to reach USD 4.4 billion by 2025. Moreover, the rising demand for vegan ice cream among lactose-intolerant and allergic consumers is also driving the market growth.

The supermarkets and hypermarkets segment held the largest market share of 42.9% in 2021. This is mainly attributed to the increasing number of supermarkets and hypermarkets across the globe, which offer a wide range of dairy-free ice cream products. Furthermore, the availability of these products at reasonable prices encourages customers to purchase them from supermarkets and hypermarkets. Additionally, supermarkets and hypermarkets provide a convenient and time-saving shopping experience for customers, which is another factor contributing to the segment’s growth.

The online segment is expected to register the highest CAGR of 12.2% from 2021 to 2026. The increasing penetration of the internet and the rising number of online stores have made it easier for customers to access dairy-free ice cream products. Moreover, the availability of discounts and attractive offers on online stores has made them an attractive shopping option for consumers. Furthermore, the convenience offered by online stores as customers can shop from any location and at any time is another factor driving the growth of the segment.

The non-dairy segment dominated the market in 2022, accounting for a revenue share of 85.6%. The growing concern among consumers regarding the health hazards associated with dairy-based products is driving the demand for non-dairy ice cream products. Moreover, the increasing vegan population and the health benefits offered by such products are likely to propel the market growth. For instance, in May 2022, Ben & Jerry’s, a subsidiary of Unilever, launched a vegan ice cream line called ‘Cherry Garcia Non-Dairy Frozen Dessert’, which contains organic coconut oil, organic algalin oil, organic cocoa, and organic sugar.

The lactose-free segment is expected to expand at the highest CAGR of 10.5% during the forecast period. Companies are focusing on providing lactose-free ice cream products as an alternative to dairy-based products. For instance, in May 2022, Breyers, a brand of Unilever, launched its lactose-free range of ice creams, which is made with real Canadian cream and contain no artificial ingredients or preservatives. The increasing awareness about lactose-free ice cream products and the health benefits associated with them is likely to fuel the market growth.

Europe is expected to hold the largest market share during the forecast period, owing to the presence of a large number of manufacturers in the region. Furthermore, the increasing number of health-conscious consumers in the region is expected to drive the growth of the market. For instance, in October 2021, Häagen-Dazs launched its first-ever vegan ice cream range in the U.K.

North America is expected to be the second-largest market, owing to the increasing demand for vegan and dairy-free products. The growing trend of flexitarianism in the region is also expected to contribute to the growth of the market. For instance, in April 2021, Halo Top Creamery launched a vegan ice cream line made with oat milk in the U.S.

In this part of the dairy-free ice cream products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your ice cream business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a dairy-free ice cream products business comes from the sale of ice cream products in the market. It is important to consider the pricing strategy and list the prices of the product in the forecast. Additionally, you should list other possible sources of profit such as wholesale, catering services, and online sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the dairy-free ice cream business running will be described. The list of operating expenses includes raw materials, packaging, marketing, personnel costs, rent, utilities, and insurance policies. Additionally, you should include funds for research and development, as well as for future expansion.

Some of the key companies operating in the dairy-free ice cream market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Ben & Jerry’s launched a new line of dairy-free ice cream, featuring flavors such as chocolate fudge brownie, peanut butter chocolate fudge, and caramel almond brittle.

– In August 2022, Häagen-Dazs launched a new range of dairy-free ice cream flavors, including strawberry, vanilla, and coconut.

– In October 2022, So Delicious Dairy Free launched a range of new dairy-free ice cream flavors, including chocolate, strawberry, and mint chip.

Some of the prominent players in the dairy-free ice cream market include:

– Unilever
– Nestlé S.A.
– General Mills, Inc.
– Ben & Jerry’s
– Häagen-Dazs
– So Delicious Dairy Free
– Breyers
– Enlightened
– Arctic Zero
– Tofutti Brands Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global dairy-free ice cream products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Frozen Desserts
– Frozen Yogurt
– Sorbet
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Non-dairy Milk
– Coconut Milk
– Soy Milk
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the Dairy-Free Ice Cream Market?
[A]: The key drivers of the dairy-free ice cream market include increasing vegan population, increasing health consciousness among consumers, rising demand for lactose-free food products, and the emergence of innovative flavors.

[Q]: What are the Major Opportunities in the Dairy-Free Ice Cream Market?
[A]: Major opportunities for the dairy-free ice cream market include increasing demand for plant-based proteins, rising disposable income, entry of new players in the market, and expanding distribution channels.

[Q]: Who are the Major Players in the Dairy-Free Ice Cream Market?
[A]: Major players in the dairy-free ice cream market include Unilever, General Mills, Nestle, Hain Celestial Group, Blue Diamond, and Daiya Foods.

[Q]: What are the Factors Restraining the Growth of the Dairy-Free Ice Cream Market?
[A]: Factors restraining the growth of the dairy-free ice cream market include the high cost of dairy-free ice cream, the lack of awareness about dairy-free ice cream, and the challenges associated with the production of dairy-free ice cream.

[Q]: Which Region Offers the Largest Opportunity for Sales of Dairy-Free Ice Cream?
[A]: North America is expected to be the largest market for dairy-free ice cream due to the increasing health consciousness among consumers and the growing vegan population in the region.