Asia Pacific Plant Based Ice Creams Market

Asia Pacific Plant-Based Ice Creams Market Size (2024 to 2029)

As per our analysis report, the Asia Pacific Plant Based Ice Creams Market is expected to reach USD 1.42 billion by 2029 from USD 0.89 billion in 2024, growing at a compound annual growth rate (CAGR) of 9.8% during the forecast period.

MARKET OVERVIEW

Plant-based ice cream is ice cream that is completely free of animal products such as egg and milk i.e. made with no animal products whatsoever. The ice cream base is made up of various plant-based milk such as coconut milk and house-made cashew milk. The healthy fats from these plant milk lend themselves wonderfully to a creamy texture that's just as delicious as dairy ice cream. A growing number of lactose-intolerant consumers is a key factor driving the market growth. In addition, the higher protein content in plant-based ice creams makes them a healthier option among ice creams. Due to the increasing demand for these ice creams, the producers of plant-based ice-creams are focused on improving the taste of these ice-creams by introducing the consumers to a wide variety of flavors. High processing charges are associated with the preparation of plant-based ice creams, as most of the raw materials are processed and formulated through different high-energy consuming machinery. Moreover, the most frequently used milk in plant-based ice creams is soya milk, which has some adverse effects. For instance, soy milk can cause allergies in some people. Its taste is also not preferred among consumers. According to Cornell University, there is an increased risk of breast cancer in some women who consume soy food and most of the plant-based ice cream manufacturers use soy milk as their major creaming ingredient. This particular factor may act against market growth.

This research report on the Asia Pacific Plant-based ice-creams market has been segmented and sub-segmented into the following categories.

Asia Pacific Plant-Based Ice-Creams Market By Product

• Soy milk based
• coconut milk based
• almond milk based
• cashew milk
• rice milk based

Soymilk based ice-cream is the largest segment followed by almond milk ice-creams. As soy milk-based ice cream is easily available and has cheaper prices as compared to almond, coconut, and other raw material based ice-cream. Almond-based ice-creams are expected to witness the highest CAGR in the coming years.

Asia Pacific Plant-Based Ice-Creams Market By Packaging

• tub
• bag/sachet

Asia Pacific Plant-Based Ice-Creams Market By Distribution Channel

• supermarkets/hypermarkets
• convenience stores
• specialist stores
• health food stores
• independent retailers
• e-retailers
• Supermarket/hypermarket 

Asia Pacific Plant Based Ice Creams Market By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Asia-Pacific region accounts for the largest share and is also expected to witness the highest CAGR in the coming years.

Due to an increase in the population who are lactose intolerant. Consumers are shifting their preferences towards almond-based ice- cream as it consists of high nutritional values and tastes better than soy milk ice cream.

KEY MARKET PLAYERS

Coconut Collaborative, Swedish Glace, Booja-Booja, Turtle Mountain’s, Frankie & Jo’s, Smooze, Luna & Larry’s are some of the notable companies in the Asia Pacific Plant Based Ice Creams market,