As the global plant-based ice cream market continues to grow in scale and variety, we take a closer look at the US plant-based ice cream landscape, which is considered the “most developed and dynamic” market in the world.
“The Future of Plant-Based Ice Cream Looks Promising”
Research part by analysis below Future grocery shopping (FGS), an Amsterdam-based research startup that develops insights into upcoming alternative food solutions, such as plant-based and cell-based foods. Founded by Sew Ritoe and Herbert Frühling, the company has ambitions to become a leading player in this field. The founders have previously worked for leading companies in tech, FMCG and media and are dedicated to harnessing and further developing cutting-edge research solutions for the alternative and plant-based food industry.
In its comprehensive landscape report, FGS evaluated 335 products made by 65 brands. The company notes that the global plant-based ice market has seen significant growth in recent years, driven by consumer concerns for health, sustainability and animal welfare.
The dairy-free ice cream market is expected to reach a value of US$1.7 billion in 2023 and grow at a CAGR of 10% from 2023-2033, to reach a value of US$4.3 billion in 2033, reports Future Market Insights. by comparison, the overall ice cream market is projected to grow at a CAGR of around 4.5% over the same period.
Most popular ingredients
When evaluating the various ingredients used in plant-based ice cream, FGS found that coconut oil was the most commonly used fat, with a presence in 55% of brands. Among plant-based milks, coconut milk (49%) and oat milk (27%) were the most common milks, possibly due to the creamy texture they provide. Almonds (17%) and cashew milk (9%) were the top nut-based alternatives.
Since plant-based milks do not contain lactose, alternative sweeteners such as natural dairy sugars, cane sugar, and tapioca syrup are commonly used. Plant protein is also an important ingredient that contributes to a product’s nutrition and texture, and the analyst used pea protein in 70% of plant-based ice creams in his study.
The study identified the major companies and brands that now offer plant-based ice cream in the United States and divided them into four categories:
- Artisan ice cream makers – Companies that started as small boutiques before expanding into retail. (Hudsonville Ice Cream, Oregon Ice Cream Company)
- Vegan/plant-based – Specialized companies focus only on plant-based ice cream. (NadaMoo!, Brave Robot, Craig’s Vegan, Wicked Kitchen)
- Supermarket – Retailer brands that have introduced plant-based ice cream through private label. (FAVORITE DAYS by HEB Select Ingredients, Target, and 365 Everyday Prices at Whole Foods Market)
- Major international companies – Established brands have recognized the opportunity for plant-based ice cream products (Oatly, Unilever, so delicious [owned by Danone]Daiya and Haagen-Dazs)
bright future
As the plant-based ice cream market continues to evolve in the United States and beyond, FGS is very optimistic about its future prospects and anticipates increased innovation.
“As the plant-based ice cream landscape continues to evolve, we anticipate more innovations, flavors and textures that will entice consumers and satisfy their desire for healthier, more sustainable frozen treats,” the researchers said. “The future of plant-based ice cream looks promising, contributing to a more compassionate and environmentally friendly food industry while offering consumers a guilt-free indulgence.”