Asia-Pacific Plant-based Ice Cream Market Outlook, 2028

The culture of vegan ice cream in the Asia-Pacific region has been steadily growing in recent years due to various factors such as health consciousness, environmental concerns, and increased awareness of animal welfare. Vegan ice cream producers in the Asia-Pacific region often incorporate local flavors and ingredients to cater to regional tastes. This can include ingredients like coconut, mango, matcha (green tea), lychee, and durian, which are popular in various countries across the region. Vegan ice cream is typically made from plant-based ingredients like coconut milk, almond milk, soy milk, or cashew milk. These alternatives provide a creamy texture similar to traditional dairy ice cream. Many consumers in the Asia-Pacific region are increasingly conscious of their health and are turning to vegan ice cream as a healthier alternative to traditional ice cream. Vegan ice cream is often perceived as being lower in saturated fats and cholesterol. Vegan ice cream is often considered a suitable option for individuals with lactose intolerance or dairy allergies, which is particularly important in a region where lactose intolerance is relatively common. Awareness about animal welfare issues and ethical concerns related to the dairy industry has also contributed to the rise of vegan ice cream consumption. Many consumers in the Asia-Pacific region are choosing vegan options to align with their values. In addition to larger ice cream companies introducing vegan options, there's a growing market for small-scale, artisanal vegan ice cream producers. These producers often focus on unique and high-quality offerings. Specialized vegan dessert cafes and ice cream shops have emerged in many cities across the Asia-Pacific region. These establishments offer a wide range of vegan desserts, including ice cream, to cater to the growing demand. The popularity of veganism, vegetarianism, and flexitarianism has had a significant impact on the demand for vegan ice cream in the Asia-Pacific region. People following these diets often seek out vegan alternatives to satisfy their sweet cravings. According to the research report, “Asia-Pacific Plant-based Ice Cream Market Outlook, 2028” published by Bonafide Research, the market is projected to grow with over 12% CAGR by 2023-28. The vegan ice cream market for the Asia-Pacific region is studied across developing economies such as China, India, Japan, New Zealand, and Australia. The competition in the soy milk market in the Asia-Pacific region has witnessed a consistent increase over the past few years. Among the dairy alternatives, rice milk is anticipated to gain maximum demand in the region, compared to other markets, due to its low price and high calcium content. An increase in health & fitness consciousness and innovative product launches by companies operating in the vegan ice cream market are the major factors that contribute toward the growth of the overall market growth. Asia Pacific region is anticipated to witness a significant growth in the foreseeing years owing to the rapid urbanization and increase in per capita consumption. The consumption levels of dairy-free ice creams in the region have increased owing to the burgeoning population and the growing popularity of plant-based products. The health-conscious younger cohort is also shifting towards dairy-free products, which in turn is fuelling its regional sales performance. The increasing vegetarian and vegan population, disposable income, growing economy, among others are some of the key factors that have contributed to remarkable growth in the Asia-Pacific vegan ice cream market in the last few years. A widespread move away from meat is witnessed not only in the US and the UK but in Asia-Pacific countries as well. While still in the early stages, the trend is infiltrating almost every country in the region, including meat-loving China. The outburst of the vegan population in developing economies has been a major factor in up-surging the vegan ice cream market in the region. For instance, in August 2018, Hindustan Unilever agreed to buy Karnataka-based ice cream brand Adityaa from Vijaykant Dairy and Food Products Limited (VDFPL) for an undisclosed amount, seeking more market share that is gradually seeing local or family brands sell to multinationals. Last month, Hindustan Unilever consolidated its food and soda businesses into a single division with the goal of increasing agility, in line with the world-class structure of parent company Unilever.

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 this 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, 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 creams manufacturers use soy milk as their major creaming ingredient. This particular factor may act against market growth. 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. The effects of the COVID-19 pandemic on the vegan ice cream sector in the Asia-Pacific have been mixed. Due to the pandemic, a large portion of the population has moved away from meat, however, the lockdown norms and regulations have caused a severe decline in the sales of vegan ice cream. Vegan ice cream food trucks have become a trend in some Asian cities. They often serve a variety of dairy-free frozen treats on the go, providing a convenient and refreshing option for locals and tourists. Asia-Pacific vegan ice cream often features exotic fruit flavors such as mango, lychee, passion fruit, jackfruit, and dragon fruit, giving consumers a taste of the region's diverse and delicious produce. Durian, known as the "King of Fruits," is both loved and reviled for its strong odor. Some vegan ice cream artisans have created durian-flavored options, offering a unique experience for adventurous eaters. Coconut milk is a popular base for vegan ice cream in many Asian countries. It not only adds a creamy texture but also imparts a natural tropical flavor that's loved by locals and tourists alike. Some vegan ice cream makers in the region incorporate traditional ingredients like matcha (green tea), black sesame, taro, and pandan leaf to create unique and culturally relevant flavors. Inspired by the popularity of bubble tea (also known as boba tea) in Asia, some vegan ice cream shops offer ice cream flavors that mimic the flavors of popular bubble tea drinks, such as milk tea and taro. In tropical countries, fruit-based sorbets are especially popular as a refreshing and dairy-free alternative to traditional ice cream. Vegan ice cream is sometimes showcased at cultural festivals and events throughout the Asia-Pacific region, introducing people to dairy-free alternatives and promoting sustainable and cruelty-free choices. In some Asian countries, street food vendors have started offering vegan ice cream options, giving locals and tourists the opportunity to enjoy a cool treat while exploring the local cuisine. In line with the environmental consciousness often associated with veganism, some vegan ice cream brands in the Asia-Pacific region use eco-friendly packaging to reduce their carbon footprint. Asian countries with a strong tradition of dairy alternatives, such as coconut and soy, are exporting their vegan ice cream products to international markets, helping to spread the popularity of Asian-inspired vegan ice cream globally. Based on the countries, Japan has been a significant player in the plant-based ice cream market, primarily due to the popularity of soy-based desserts and the innovation of Japanese food companies in creating plant-based ice cream products. Soy-based ice creams and unique flavors like matcha and black sesame were prevalent in Japan. On the other hand, Australia had a growing market for plant-based ice cream, with several local brands offering dairy-free alternatives. Australian consumers were increasingly looking for vegan and dairy-free options, which led to the expansion of this market. South Korea was witnessing a surge in the popularity of veganism and plant-based diets. Local companies were introducing vegan ice cream products, often featuring unique Korean flavors and ingredients. As part of Asia-Pacific region, Singapore was becoming a hub for vegan and plant-based foods in the Asia-Pacific region. The city-state saw the emergence of various vegan ice cream brands and dessert shops catering to both locals and tourists seeking dairy-free options. Thailand is known for its abundant tropical fruits, making it a prime location for plant-based ice cream production. Coconut-based vegan ice creams were particularly popular in Thailand, and the country was exporting these products to neighboring markets. Taiwan has a growing market for vegan and dairy-free products, including ice cream. Local companies in Taiwan were producing a variety of plant-based ice cream flavors, some inspired by traditional Taiwanese desserts.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Ask an Expert

Manmayi Raval

Research Consultant

The Asia-Pacific region has experienced a rapid increase in e-commerce adoption, driven by factors such as increased internet penetration, smartphone usage, and the convenience of online shopping. As more consumers turn to online platforms for their shopping needs, including groceries and specialty foods like plant-based ice cream, e-commerce channels have flourished. The COVID-19 pandemic further accelerated the shift towards online shopping as people sought contactless and safe shopping options. This trend affected various industries, including the plant-based ice cream market, as consumers turned to online platforms to purchase groceries and frozen treats from the safety of their homes. Online sales channels have made plant-based ice cream more accessible to consumers in remote or less densely populated areas where physical stores may not offer a wide range of vegan or dairy-free options. Online platforms allow consumers to explore a broader range of plant-based ice cream brands and flavors that may not be readily available in local stores. This variety appeals to those seeking unique and diverse options. Some companies offer subscription services for plant-based ice cream, delivering frozen treats directly to consumers' doors on a regular basis. These services provide convenience and ensure that consumers always have their favorite vegan ice cream on hand. Online platforms also support specialty vegan retailers and startups that exclusively offer plant-based products, including ice cream. These retailers cater to the growing demand for vegan options. Many plant-based ice cream brands leverage social media platforms and influencer marketing to reach a wider audience and promote their products. This digital presence helps drive online sales. Consumers in the Asia-Pacific region are increasingly concerned about health and sustainability, which aligns with the plant-based ice cream market's values. Online platforms often provide information about the health and environmental benefits of these products, attracting more consumers. Online platforms allow brands to share educational content about the benefits of a plant-based diet and the quality of their ingredients. This transparency can build trust with consumers and encourage them to make online purchases. Online sales channels provide a cost-effective way for plant-based ice cream companies to expand into new markets within the Asia-Pacific region and even internationally. Red bean paste, made from azuki beans, is a classic and beloved flavor in many Asian countries, including Japan, China, and Korea. It's often used in traditional desserts and ice cream. Coconut-based plant-based ice cream is extremely popular throughout tropical regions in Asia, offering a creamy and naturally sweet flavor. Almond-flavored ice cream, often made with almond milk, is appreciated by those looking for a nutty and slightly sweet taste. Mango-flavored plant-based ice cream is a favorite in countries with abundant mango production, such as India, Thailand, and the Philippines. Lychee, a sweet and fragrant fruit, is used to create a unique and refreshing ice cream flavor in Southeast Asian countries like Malaysia and Vietnam. Matcha, a finely ground green tea powder, is a popular herb-based flavor in Japan and South Korea, known for its earthy and slightly bitter taste. Pandan leaf, used in various Asian cuisines, adds a distinctive aroma and flavor to ice cream, especially in countries like Malaysia, Indonesia, and Singapore. Taro, a starchy root vegetable, is used to create a creamy and mildly sweet ice cream flavor, particularly in Taiwan and some Southeast Asian countries. Black sesame seeds are ground into a paste to produce a rich and nutty ice cream flavor, appreciated in Japan and other parts of Asia. Durian-flavored plant-based ice cream, famous for its polarizing taste and strong odor, is found in parts of Southeast Asia. In the Asia-Pacific region, the most common and popular packaging type for plant-based ice cream is the tub. Tub packaging is widely used by both large and small producers of plant-based ice cream. Tubs are convenient for consumers as they allow easy scooping and serving of ice cream. They also come with re-sealable lids, which help keep the ice cream fresh and prevent freezer burn. Tubs are available in various sizes, from single-serving portions to larger family-sized containers. This variety allows producers to cater to different consumer needs. Tubs often have clear or transparent lids, allowing consumers to see the product inside. This transparency is essential for consumers when choosing ice cream flavors, particularly when there are unique or visually appealing elements in the ice cream (e.g., visible fruit pieces or swirls). Tubs offer ample space for branding and product information. Manufacturers can showcase their logos, flavor descriptions, and any certifications prominently on the packaging. Tubs are stackable, making them efficient for storage in freezers, both at home and in retail settings. This is important for retailers to manage their inventory. While tub packaging is more common, especially for larger quantities of plant-based ice cream, there are instances where bag/sachet packaging is used. Bag or sachet packaging is more common for single-serving or smaller portions of ice cream. It is often used for products like ice cream bars, popsicles, or single-serve cups.

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

Key Development • In 2022, Ben & Jerry's, a brand owned by Unilever, introduced two plant-based ice creams, named "Chocolate Milk and Cookies" and "Dirt Cake." • Little Red Rooster Ice Cream Company's brand NadaMoo introduced a dairy-free ice cream called Chocolate Chip Cookie Dough Flavor in 2022. • Froneri, the UK-based ice cream joint venture owned by Nestlé and R&R, has launched a new brand of indulgent herbal ice creams. • Hindustan Unilever consolidated its food and soda businesses into a single division with the goal of increasing agility, in line with the world-class structure of parent company Unilever. • The a2 Milk Company, a New Zealand dairy company, has launched a plant-based ice cream made with its own a2 protein milk. • The Green Common, a Hong Kong-based vegan food retailer, has opened its first plant-based ice cream factory. Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific Plant-based Ice Cream with its value and forecast along with its segments • Country-wise Plant-based Ice Cream market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • China • Japan • India • Australia • South Korea By Form Type • Blends • Singles By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others By Product source • Coconut Milk Based • Soy Milk Based • Almond Milk Based • Cashew Milk • Rice Milk Based • Others By Flavor Type • Beans • Nuts • Fruits • Herbs • Others By Packaging Type • Tub • Bag/Sachet The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Plant-based Ice Cream industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.