India vegan ice cream market size was valued at USD 70.62 million in FY2023 which is expected to grow to USD 143.8 million in FY2031 with a CAGR of 9.3% during the forecast period between FY2024 and FY2031.
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India vegan ice cream market size was valued at USD 70.62 million in FY2023, which is expected to reach USD 143.8 million in FY2031, with a CAGR of 9.3% for the forecast period between, FY2024 and FY2031. The India vegan ice cream market has experienced remarkable growth, driven by factors that reflect evolving consumer preferences and societal trends. One of the pivotal drivers is the escalating demand for plant-based products, stemming from the rise of veganism and the increasing adoption of plant-based diets. This surge is rooted in health consciousness, environmental awareness, and ethical considerations, as consumers seek alternatives that align with their personal well-being and the planet's sustainability. The market's trajectory is further propelled by a heightened emphasis on allergen sensitivities, where dairy-free options like vegan ice cream cater to individuals with lactose intolerance or dairy allergies.
Additionally, the market benefits from the dynamism of innovation, with manufacturers exploring diverse plant-based ingredients and pioneering unique flavors, appealing to a broad spectrum of taste preferences. As urbanization expands and global influences seep into the Indian culinary landscape, there is an amplified accessibility of vegan ice cream, bolstered by partnerships between ice cream producers and various retail outlets. Moreover, social media plays a significant role, amplifying the visibility of vegan trends, while governmental support for sustainable and plant-based initiatives provides a conducive environment for market growth. For instance, in 2023, Keventers diversifies its offerings by introducing its inaugural line of vegan ice cream in the Indian market.
For example, originating in 2021, a direct-to-consumer (D2C) vegan ice cream startup, known as Minus 30, commenced its journey within a kitchen and has since expanded its reach to encompass a minimum of four cities. Situated in Delhi, the company experienced a remarkable 300 percent surge in revenue during the pandemic period. Currently, Minus 30 is poised for further growth as it sets its sights on expanding its retail presence, utilizing strategies such as leveraging social media platforms and utilizing TV advertisements.
The rapid rise of veganism and the adoption of plant-based diets in India have significantly fueled the growth of the vegan ice cream market. As consumers increasingly prioritize health, ethical considerations, and sustainability, there's a growing demand for dairy-free alternatives. Vegan ice cream perfectly aligns with these preferences, offering a guilt-free indulgence while avoiding animal exploitation. The cultural shift towards plant-based choices, driven by concerns for personal well-being and the environment, has led to a wider acceptance of vegan ice cream. This trend is further bolstered by a surge in vegan-friendly options at various food outlets, creating fertile ground for expanding the vegan ice cream market nationwide. For example, in 2022, WhiteCub was focused on enhancing the accessibility and affordability of dairy-free products in India. According to the CEO of WhiteCub, they aim to play a role in establishing a world where animals are not exploited for food. They are achieving this goal by ensuring that plant-based foods are within reach of the general population.
The India vegan ice cream market has witnessed a substantial increase in online penetration, reshaping the way consumers access and purchase these products. The convenience and safety offered by online platforms have propelled this growth, especially during the COVID-19 pandemic when in-person shopping was limited. E-commerce channels provide various vegan ice cream options from assorted brands, catering to diverse tastes and dietary preferences. Moreover, online platforms allow smaller, niche vegan ice cream producers to reach a broader audience without the constraints of physical store presence. The rising use of digital marketing, social media promotions, and user reviews further aids in building trust and awareness among consumers, driving the market's expansion through this convenient and accessible channel.
For example, the recent years have brought considerable progress for the vegan community in India where vegan brands have added to the market. Alongside innovations like vegan mock meat have been on the emergence of high-quality brands, offering exceptionally delicious vegan ice creams in 2023. Seven dairy-free vegan ice cream brands are now catering to online delivery in India. These encompass renowned names such as Baskin Robbins Vegan Ice Cream, Brooklyn Creamery, NOTO, Minus 30, Papacream, and WhiteCub Vegan Ice Creams, reflecting the expanding choices and options for those embracing a vegan lifestyle.
The India vegan ice cream market is witnessing a surge of innovation through an array of inventive flavors and unique plant-based ingredients. As consumer preferences diversify, manufacturers push boundaries by crafting captivating flavors that cater to a wide palate, ranging from exotic fruits to decadent chocolates infused with aromatic spices. Novel ingredients like coconut milk, almond milk, cashew cream, and innovative bases derived from oats or bananas are being harnessed to create creamy textures and delightful tastes. This innovation attracts adventurous consumers seeking novel taste experiences. It underscores the market's commitment to catering to a diverse range of dietary needs and preferences, propelling the growth of the vegan ice cream sector.
For example, during 2022, Baskin Robbins took a step further by diversifying its product range. They introduced two fresh vegan ice cream flavors, packaged conveniently in tubs. The first is the evergreen Classic Vanilla, designed to provide a luscious and luxurious experience without any dairy content. The second addition is the decadent Mississippi Mud, skillfully recreating the cherished taste of this flavor using plant-based ingredients. This expansion addresses the increasing demand for dairy-free alternatives, while upholding Baskin Robbins' dedication to delivering delectable flavors and a wide range of choices.
Impact of COVID-19
The pandemic brought both challenges and opportunities to the India vegan ice cream market. Initially, lockdowns and restrictions disrupted supply chains and led to decreased consumer spending on non-essential items. However, as health consciousness grew, the focus on plant-based diets and sustainable foods became more pronounced. This shift led to a surge in demand for vegan ice creams, as consumers sought healthier alternatives. The market adapted by emphasizing online deliveries and takeout options. Moreover, the pandemic prompted a re-evaluation of food choices, aligning with ethical and environmental principles of veganism. As restrictions eased, the market witnessed a rebound in sales, fueled by a heightened awareness of health, immunity, and sustainability among consumers.
Report Scope
“India Vegan Ice Cream Market Assessment, Opportunities and Forecast, FY2017-FY2031”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative & quantitative assessment of the current state of the India vegan ice cream market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19, opportunities, and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Details |
|
Base Year of the Analysis |
FY2023 |
Historical Period |
FY2017-FY2022 |
Forecast Period |
FY2024-FY2031 |
Projected Growth Rate |
CAGR of 9.3% between FY2024-FY2031 |
Revenue Forecast in FY2031 |
USD 143.8 million |
Units |
Revenue in USD million |
Segments Covered |
Source, Category, Flavor, Package Size, Packaging, Price Range, Form, Distribution Channel |
Regions Covered |
North, South, East, West & Central |
Key Companies Profiled |
WhiteCub, Super Milk Products Private Limited (Keventers), Minus30 Private Limited., Graviss Foods Pvt Ltd (Baskin Robbins India), The Brooklyn Creamery, KAVV FOODS PRIVATE LIMITED. (NOTO), Nomou, Papacream, Unilever (Ben & Jerry's), AAAS FOODS AND NATURE'S SOUL PRIVATE LIMITED |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In this report, India Vegan Ice Cream Market has been segmented into the following categories:
1. By Source
1.1. Soy Milk
1.2. Coconut Milk
1.3. Nut Milk
1.3.1.Almond
1.3.2.Cashew
1.3.3.Others
1.4. Oat Milk
1.5. Rice Milk
2. By Category
2.1. Impulse
2.2. Take Home
2.3. Artisanal
3. By Flavor
3.1. Classic Flavors (Chocolate, Vanilla, Coffee)
3.2. Exotic Flavors
3.3. Fruit-Based
4. By Package Size
4.1. Less than 100 ml
4.2. 100 to 500 ml
4.3. More than 500 ml
5. By Packaging
5.1. Pint-Sized Containers
5.2. Ice Cream Sandwiches
5.3. Drumsticks
5.4. Fudge Bars
5.5. Others
6. By Price Range
6.1. Premium
6.2. Affordable
7. By Form
7.1. Singles
7.2. Blends
8. By Distribution Channel
8.1. Supermarkets
8.2. Convenience Stores
8.3. Ice Cream Parlors
8.4. Restaurants
8.5. Online Stores
9. By Region
9.1. North
9.2. South
9.3. East
9.4. West & Central
Key Player Landscape and Outlook
The India vegan ice cream market landscape is rapidly evolving with a dynamic mix of key players driving its growth. Established brands like Baskin Robbins, renowned for its extensive flavors, and newcomers like Minus 30, which saw substantial pandemic-driven growth, contribute to the market's diversification. Additionally, Brooklyn Creamery, NOTO, Papacream, and WhiteCub Vegan Ice Creams are carving their niches with innovative flavors and plant-based offerings. As consumer demand for dairy-free alternatives continues to rise due to health, ethical, and environmental concerns, these players are expected to intensify their efforts to provide a wider range of delicious and accessible options. The market outlook remains optimistic, fueled by the intersection of evolving consumer preferences and the commitment of key players to deliver delectable and sustainable choices.
For instance, in March 2023, there was an increase in the sales of IKEA's plant-based food offerings. Notably, in India, IKEA had introduced a vegan guava ice cream, the previous year.
For instance, in the year 2022, the first inaugural ice cream shop in India, that exclusively offers vegan and millet milk-based options, has been launched.
For instance, Vegan First presents a rapid and effortless recipe for making vegan kulfi, a popular frozen dessert. The recipe, crafted by Earthy Cookhouse, has a 15 minutes preparation time. This dairy-free dessert option offers a delectable and refreshing plant-based alternative to the traditional kulfi, catering to individuals looking for vegan and dairy-free dessert options.
Key Players operating in India Vegan Ice Cream Market are:
· WhiteCub
· Super Milk Products Private Limited (Keventers)
· Minus30 Private Limited.
· Graviss Foods Pvt Ltd (Baskin Robbins India)
· The Brooklyn Creamery
· KAVV FOODS PRIVATE LIMITED. (NOTO)
· Nomou
· Papacream
· Unilever (Ben & Jerry's)
· AAAS FOODS AND NATURE'S SOUL PRIVATE LIMITED
Markets and Data’s reports answer the following questions:
• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?
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Table of Content
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on India Vegan Ice cream Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness and Loyalty
5.2. Factors Considered in Purchase Decision
5.2.1.Quantity
5.2.2.Price
5.2.3.Quantity w.r.t Price
5.2.4.Packaging
5.2.5.Offers and Discount
5.2.6.Taste Preferences
5.2.7.Shelf Life
5.2.8.Reviews and Recommendations
5.2.9.Health and Nutritional Benefits
5.3. Frequency of Purchase
5.4. Channel of Purchase
5.5. Social Commerce
5.6. Lifestyle Trends
6. India Vegan Ice Cream Market Outlook, FY2024-FY2031
6.1. Market Size & Forecast
6.1.1.By Value
6.1.2.By Volume
6.2.1.Soy Milk
6.2.2.Coconut Milk
6.2.3.Nut Milk
6.2.3.1. Almond
6.2.3.2. Cashew
6.2.3.3. Others
6.2.4.Oat Milk
6.2.5. Rice Milk
6.3. By Category
6.3.1. Impulse
6.3.2. Take Home
6.3.3. Artisanal
6.4. By Flavor
6.4.1. Classic Flavors (Chocolate, Vanilla, Coffee)
6.4.2. Exotic Flavors
6.4.3. Fruit-Based
6.5. By Package Size
6.5.1.Less than 100 ml
6.5.2.100 to 500 ml
6.5.3.More than 500 ml
6.6. By Packaging
6.6.1.Pint-Sized Containers
6.6.2.Ice Cream Sandwiches
6.6.3.Drumsticks
6.6.4.Fudge Bars
6.6.5. Others
6.7. By Price Range
6.7.1.Premium
6.7.2.Affordable
6.8. By Form
6.8.1. Singles
6.8.2. Blends
6.9. By Distribution Channel
6.9.1.Supermarkets
6.9.2.Convenience Stores
6.9.3.Ice Cream Parlors
6.9.4.Restaurants
6.9.5.Online Stores
6.10. By Region
6.10.1. North
6.10.2. South
6.10.3. East
6.10.4. West & Central
6.11. By Company Market Share (%), 2022
7. Market Mapping, FY2022
6.12. By Source
6.13. By Category
6.14. By Flavor
6.15. By Package Size
6.16. By Packaging
6.17. By Price Range
6.18. By Form
6.19. By Distribution Channel
6.20. By Region
8. Macro Environment and Industry Structure
8.1. Supply Demand Analysis
8.2. Import Export Analysis
8.3. Value Chain Analysis
8.4. PESTEL Analysis
8.4.1.Political Factors
8.4.2.Economic System
8.4.3.Social Implications
8.4.4.Technological Advancements
8.4.5.Environmental Impacts
8.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
8.5. Porter’s Five Forces Analysis
8.5.1.Supplier Power
8.5.2.Buyer Power
8.5.3.Substitution Threat
8.5.4.Threat from New Entrant
8.5.5.Competitive Rivalry
9. Market Dynamics
9.1. Growth Drivers
9.2. Growth Inhibitors (Challenges and Restraints)
10. Key Players Landscape
10.1. Competition Matrix of Top Five Market Leaders
10.2. Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)
10.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
10.4. SWOT Analysis (For Five Market Players)
10.5. Patent Analysis (If Applicable)
11. Pricing Analysis
12. Case Studies
13. Key Players Outlook
13.1. WhiteCub
13.1.1. Company Details
13.1.2. Key Management Personnel
13.1.3. Products & Services
13.1.4. Financials (As reported)
13.1.5. Key Market Focus & Geographical Presence
13.1.6. Recent Developments
13.2. Super Milk Products Private Limited (Keventers)
13.3. Minus30 Private Limited.
13.4. Graviss Foods Pvt Ltd (Baskin Robbins India)
13.5. The Brooklyn Creamery
13.6. KAVV FOODS PRIVATE LIMITED. (NOTO)
13.7. Nomou
13.8. Papacream
13.9. Unilever (Ben & Jerry's)
13.10. AAAS FOODS AND NATURE'S SOUL PRIVATE LIMITED
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work
14. Strategic Recommendations
15. About Us & Disclaimer
List of Figures:
Figure 1. India Vegan Ice Cream Market, By Value, In USD Million, FY2017-FY2031F
Figure 2. India Vegan Ice Cream Market, By Volume, In Units Thousand, FY2017-FY2031F
Figure 3. India Vegan Ice Cream Market Share, By Source, In USD Million, FY2017-FY2031F
Figure 4. India Vegan Ice Cream Market Share, By Category, In USD Million, FY2017-FY2031F
Figure 5. India Vegan Ice Cream Market Share, By Flavor, In USD Million, FY2017-FY2031F
Figure 6. India Vegan Ice Cream Market Share, By Package Size, In USD Million, FY2017-FY2031F
Figure 7. India Vegan Ice Cream Market Share, By Packaging, In USD Million, FY2017-FY2031F
Figure 8. India Vegan Ice Cream Market Share, By Price Range, In USD Million, FY2017-FY2031F
Figure 9. India Vegan Ice Cream Market Share, By Form, In USD Million, FY2017-FY2031F
Figure 10. India Vegan Ice Cream Market Share, By Distribution Channel, In USD Million, FY2017-FY2031F
Figure 11. India Vegan Ice Cream Market Share, By Region, In USD Million, FY2017-FY2031F
Figure 12. By Source Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 13. By Category Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 14. By Flavor Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 15. By Package Size Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 16. By Packaging Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 17. By Price Range Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 18. By Form Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 19. By Distribution Channel Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 20. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2023
List of Tables: India Vegan Ice Cream Market
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Region and Countries Where We Have Executed Client Projects
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Purchase Options
USD ($)
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1,840
2,000
8%
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2,970
3,300
10%
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3,960
4,500
12%
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5,950
7,000
15%
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