The global vegan ice cream market will hit almost £850 million by 2029, says a new report, with “caramel” dominating the flavor segment of the vegan ice-creams.
According to research from Data Bridge, the vegan ice cream industry will undergo a CAGR of 10.80 percent during the forecast period, reaching a staggering £846.6 million in the next seven years.
“Surging vegan population” and “rising awareness” about animal cruelty are cited as key factors driving growth in this segment. 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 chips.
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.
Leading makers including Unilever and Ben & Jerry’s added vegan ice cream products to their offerings as 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. In 2022, Unilever's brand Ben & Jerry's launched two plant-based ice-creams which are "Chocolate Milk and Cookies", and "Dirt Cake".
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.
