Aug 14, 2019 (AmericaNewsHour) — Global Market Insights, Inc. added research on Non-Dairy Ice Cream Market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.
Increasing consumer spending on functional food and confectionary items will foster non-dairy ice cream market share. Desserts are among the most preferred dishes in numerous restaurants owing to tasteful flavors such as raspberry, chocolate salted caramel, hazelnut & rose, mint and double choc chip, thereby propelling sales growth. Also, increasing popularity of tasteful flavors including almond with a cocoa twist, coconut with a passionfruit twist flavors, and raspberry ripple boosting non-dairy ice cream industry.
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Fluctuating trends towards healthy lifestyle owing to increasing awareness across North America and Europe instigating sales growth. Factors such as low calories content and high protein benefits propelling dairy-free products demand. Increasing daily milk allergies are mainly stimulating rapid commercialization of plant-based milk products strongly supporting industry share.
Manufacturers are anticipated to enhanced nutritional value and product quality by usage of fruits, nuts, peanut butter and beans with add on flavors. Vegan milk such as coconut milk, soy milk, and almond milk are extensively used as raw material in the manufacturing of non-diary ice cream. Effective health benefits owing to the presence of nutritional elements in the products will boost market share during the forecast period.
Coconut milk segment is projected to witness more than 14% CAGR from 2018 to 2024. Improved usage of coconut milk owing to cost-effective benefits are fostering product landscape. It provides similar properties as compared to dairy milk especially the presence of fats components stimulating industrial usage. Coconut milk is highly compatible with several flavors that enhances textures are key benefits are propelling non-dairy ice cream market share.
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Vanilla segment captured over 23% market share in 2017. Rising demand for vanilla flavor owing to its pleasant taste in conventional and non-diary ice-creams are propelling industry share. Premium segment widely uses flavors including vanilla & hazelnut chocolate flavors, bourbon vanilla extract in the products. Non-dairy ice-cream products have captured strong attention from young generation due to the availability of numerous fruitful flavor options stimulating market penetration.
Take home segment is expected to experience more than 13.5% CAGR up to 2024. Rapid urbanization primarily boosting product demand, especially for take-home choices. Increasing product consumption in off-premise owing to higher convenience advantages boosting revenue share. Shifting trends toward online purchase along with home delivery options by major manufacturing companies driving non-dairy ice cream market.
Singles form segment generated over USD 270 million in 2017. Rising demand for tangy flavors including strawberry, vanilla, and chocolate are primarily driving market growth. Manufacturing companies are providing attractive fruity flavors in different variants positively stimulating market penetration in several countries. Strong consumer preferences in among kids and young generation are supporting industry expansion for non-diary ice-cream.
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Supermarket is estimated to show more than 14.4% CAGR up to 2024. Increasing the expansion of supermarket and hypermarkets offering attractive schemes & offers strongly supporting market growth. Cost effective benefits along with the easy availability of multiple brands under one roof are key factors bolstering segment growth. Different flavor variants, size and pricing benefits are mainly driving sales channel of non-dairy ice cream market.
Asia Pacific market accounted for more than USD 150 million revenue in 2017. Improved demand for vegan products owing to growing awareness among the huge population supporting sales growth across the region. Strong presence of manufacturing companies catering lactose intolerant consumers mainly boosting market expansion in emerging countries. Increasing population across China, India, Japan, and Australia stimulating non-dairy ice cream industry growth.
Non-dairy ice cream market is highly competitive in nature owing to the large presence of manufacturing companies in the market. Key industry players are Bliss Unlimited LLC, Unilever. Danone, General Mills, Booja Booja, NadaMoo, and Swedish Glace. Companies are focusing on new product development by adding nutritional ingredients to cater to health-conscious consumer base and enhance product sales.
Partial Report Content:
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Non-dairy ice cream industry 360 [0 ] synopsis, 2013 -2024
2.1.1. Business trends
2.1.2. Source trends
2.1.3. Flavor trends
2.1.4. Product trends
2.1.5. Form trends
2.1.6. Distribution channel trends
2.1.7. Regional trends
Chapter 3. Non-dairy Ice cream Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.4. Technology landscape
3.5. Raw material trends
3.6. Consumer buying behavior
3.7. Regulatory landscape
3.8. Pricing analysis
3.9. Industry impact forces
3.10. Global ice cream market overview (Parent market outlook)
3.11. Innovation & sustainability
3.12. Growth potential analysis, 2017
3.13. Competitive landscape, 2017
3.14. Porter’s analysis
3.15. PESTEL analysis
Chapter 4. Non-dairy Ice cream Market, By Source
4.1. Global non-dairy ice cream market share by source, 2017 & 2024
4.2. Coconut milk
4.3. Almond milk
4.4. Cashew milk
4.5. Soy milk
4.6. Other sources (Vegetable Oil, Rice Milk, Hemp)
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