According to a new report published by Allied Market Research, titled, “Vegan Ice Cream Market by Source, Flavor, Sales Type, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the global vegan ice cream market was valued at $520.9 million in 2019, and is expected to grow at a CAGR of 13.7% to reach $805.3 million by 2027. Europe was the highest contributor to the market with $188.6 million in 2019.

Top Key Players:-

The key players profiled in the report include Unilever, General Mills, The Whitewave Foods Company (Denon), Hain Celestial Group, Bliss Unlimited, LLC, High Road Craft Brands, Alden’s Organic, Whole Foods Market IP. L.P., Tofutti Brands, Inc., and Trader Joe’s.

The other players operating in the global vegan ice cream industry include Amy’s Kitchen, Double Rainbow Ice Creams, Inc., Wells Enterprises, Inc., NadaMoo! Booja-Booja, Happy Cow Limited, Over The Moo, Swedish Glace, ARCTIC ZERO, Inc. Perry’s Ice Cream, Coolhaus, SorBabes, and Beyond Better Foods, LLC..

Browse Full Report Details @ https://www.alliedmarketresearch.com/vegan-ice-cream-market-A06342

Vegan ice cream is manufactured using nondairy milk sources, which include soy, almond, cashew, and coconut. The growth of the global vegan ice cream industry is majorly driven by rise in number of vegan & diet-conscious consumers across the globe. Furthermore, health issues such as lactose intolerance owing to deficiency of intestinal enzyme lactase and alarming increase in cases of obesity across the globe due to high intake of fats fuel the demand for dairy-free or vegan food products, which, in turn, boosts the growth of the global vegan ice cream market.

Vegan ice cream has been witnessing increased popularity in the mature and emerging markets. This is attributed to rise in number of consumers allergic to dairy products.

Depending on sales type, the take home segment led the global vegan ice cream market in 2019, and is expected to witness a notable growth during the forecast period. This is attributed to shift in trend toward off-premise consumption of food products.

By distribution channel, the supermarket/hypermarket segment was the dominant segment in 2019, and is expected to witness a notable growth in the forecast period. The growth of this segment is attributed to increase in preference for offline retail formats such as supermarkets and hypermarkets in both mature and emerging markets.

Region wise, Europe was the most prominent market in 2019, and is expected to continue this trend in the near future, as the European consumers readily accept the new varieties of food products. The key players in the industry have adopted product launch, acquisition, and collaboration as their go-to strategies to stay competitive in the vegan ice cream industry. 

Key Findings Of The Study:-

The global vegan ice cream market was valued at $520.9 million in 2019, and is estimated to reach $805.3 million by 2026, growing at a CAGR of 13.7% through the forecast period.

Depending on source, the cashew milk segment is expected to witness the fastest growth, registering a CAGR of 14.5% during the forecast period.

By flavor, the caramel flavor segment held the highest market share in 2019, garnering nearly one-third of the market share.

On the basis of sales type, the take home segment was the most prominent segment in 2019, and is expected to grow at a significant CAGR throughout the forecast period.

According to the distribution channel, the supermarket/hypermarket segment led the market in 2019, and is expected to grow at a significant CAGR throughout the forecast period.

U.S. was the dominant country in 2019, acquiring a considerable share in the market.