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Global Vegan Ice Cream Market Set To Grow By $600 Million

by Alix Coe | May 26, 2020

Analysts have predicted that the global vegan ice cream market is going to grow by $601.21 million over the next four years.

Experts at Technavio — a global technology research company — compiled a report to show how the market is about to boom.

“Immense Growth Opportunities”

“The expanding global vegan population base will offer immense growth opportunities” said Technavio.

The report states that “new product launches” will be one of the main reasons that the vegan ice cream market experiences such significant growth.

Vegan Ice Cream

Over the last few years, more and more vegan and non-vegan companies have been developing dairy-free ice cream products.

Frozen-treat giant Ben & Jerry’s first expanded to include plant-based options in 2016. Now, the brand boasts 17 dairy-free flavors, accounting for more than a quarter of its entire line.

Dairy alternative company Oatly now offers several ice cream products, with a number of different flavors available in the US, UK and parts of Europe.

“A Problem For The Dairy Industry”

Magnum successfully added two dairy-free option to its range in 2019. This addition was met with much criticism by farmers — who described the ice cream launch as “a problem for the dairy industry.”

Are you surprised by the promising future for plant-based desserts? Let us know which flavors you’re excited for in the comments below!

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