The global vegan ice cream market will hit almost £850 million by 2029, according to a new report.
Research from Data Bridge predicts the vegan ice cream industry will undergo a CAGR of 10.80% during the forecast period, reaching a staggering £846.6 million in the next seven years.
Key drivers include a “surging vegan population” and “rising awareness awareness” of animal cruelty. The noted health benefits of dairy-free diets are also said to be pushing demand.
At the moment, caramel vegan ice cream is the most popular flavour. However, “growing demand” is calling for a larger flavour offering such as mint choc chip.
‘Changing consumer preferences’
“Europe is anticipated to deliver potential growth to the vegan ice cream market… Owing to the changing consumer preferences towards healthy lifestyle along with introduction of new flavours,” the report states.
“Asia-Pacific will score a good growth rate during the forecast period owing to the rising personal disposable income.”
Vegan ice cream
Market leaders such as Unilever and Ben & Jerry’s have all welcomed vegan ice cream products to their offerings, and demand continues to grow.
In fact, last year Ben & Jerry’s debuted its dairy-free Salted Caramel Brownie ice cream, becoming the sixth vegan flavour available in the UK.
Flavours include vegan versions of the brand’s iconic Cookie Dough, Fudge Brownie, and vegan Phish Food.
Ben & Jerry’s also teamed up with civil-rights activist Colin Kaepernick to launch the Change the Whirled edition, with proceeds going to the black liberation campaign Know Your Rights Camp.
“Made with either almond milk or sunflower butter… They have a creamy, dreamy texture that makes a perfect blank canvas for our Flavour Gurus’ wild creations,” the brand said.
“The non-dairiest desserts have never tasted so very Ben & Jerry’s!”
Want to make your own? Try this super simple no-churn vegan strawberry ice cream.