South America Plant-based Ice Cream Market Outlook, 2028

Ice cream, often referred to as the universal dessert, has been enjoyed by people of all ages for centuries. In recent years, however, there has been a significant shift in consumer preferences towards healthier and more sustainable alternatives. This trend has led to the rise of the plant-based ice cream market in South America. With a growing demand for dairy-free options, South American consumers are embracing this delectable and guilt-free frozen treat. The South American region is known for its rich culinary traditions, including an affinity for dairy products. However, changing consumer attitudes and increasing awareness of health and environmental concerns have driven a shift towards plant-based alternatives. This trend is not only seen in the food industry but also in the ice cream segment. Plant-based ice cream offers several advantages over traditional dairy ice cream. It is suitable for lactose-intolerant individuals, vegans, and those who are health-conscious. Moreover, it is often perceived as a more ethical choice due to its lower environmental impact, as the production of plant-based ice cream typically involves fewer greenhouse gas emissions and less water usage compared to dairy ice cream production. South America boasts a rich culinary heritage, with a strong emphasis on dairy products like milk, cheese, and ice cream. However, cultural shifts have led to the reevaluation of dietary choices. People are now looking for alternatives to traditional dairy-based ice cream that are in line with their evolving cultural values, such as health consciousness and environmental sustainability. Health and wellness trends have gained prominence across South America. People are increasingly mindful of their dietary choices and seek foods that align with their cultural desire for healthier lifestyles. Plant-based ice cream has gained popularity as a cultural response to these changing values, offering a more health-conscious dessert option. Environmental consciousness has become a key cultural value in South America. As the devastating effects of climate change become more apparent, many individuals in the region are culturally motivated to make sustainable choices. Plant-based ice cream, with its lower environmental footprint compared to dairy ice cream, aligns with this cultural shift towards sustainability. South America is known for its cultural diversity, with each country and region having its own unique traditions and culinary preferences. This diversity has influenced the evolution of the plant-based ice cream market. Companies are inspired by local ingredients and flavors, creating culturally relevant products that resonate with different segments of the population. For example, tropical fruit flavors and exotic ingredients are often incorporated into plant-based ice creams, catering to the diverse tastes of South Americans. According to the research report, “South America Plant-based Ice Cream Market Outlook, 2028” published by Bonafide Research, the market is anticipated to add over USD 150 Million market size from 2023 to 2028. The South American plant-based ice cream market is experiencing remarkable growth, driven by changing consumer preferences and a greater emphasis on health and sustainability. With innovative flavors and a commitment to quality, companies in this market are carving out a sweet spot for themselves in the hearts and freezers of South American consumers. As the demand for plant-based alternatives continues to rise, it is safe to say that plant-based ice cream is here to stay in South America, offering a delicious and environmentally conscious way to satisfy the region's sweet tooth. Veganism and other dietary movements have grown in popularity across South America. These cultural shifts have driven the demand for plant-based ice cream as people seek alternatives that align with their values and dietary restrictions. This cultural change has encouraged innovation and competition within the market. The cultural evolution of the South American plant-based ice cream market is also influenced by global trends, thanks to the widespread use of social media and increased access to international information. South American consumers are exposed to global culinary trends, inspiring them to seek out new and innovative plant-based ice cream flavors and brands. This cultural exchange has led to greater diversity and experimentation within the market. South America is known for its vibrant cultural celebrations and festivals. These events often feature traditional foods and desserts. Plant-based ice cream manufacturers have adapted by creating dairy-free versions of classic desserts to be enjoyed during cultural festivals, fostering a sense of cultural continuity while embracing modern dietary preferences. The rise in dietary restrictions, such as lactose intolerance and veganism, has created a demand for dairy-free alternatives. Plant-based ice cream caters to these specific dietary needs.

Based on the countries, the South America plant-based ice cream market is segmented into Brazil, Argentina and Colombia. Among them, Brazil was one of the leading countries for vegan ice cream in South America. Brazil has a large and diverse population, and there has been a growing interest in plant-based and vegan products, including ice cream. Brazil's substantial population provides a sizable market for vegan ice cream. The demand for plant-based alternatives, driven by health-conscious consumers and those with dietary restrictions, has led to the growth of the vegan ice cream industry. Brazilian companies have been innovative in creating delicious and diverse flavors of vegan ice cream, often drawing inspiration from local ingredients and traditional flavors. This innovation has helped attract a broader consumer base. There has been a notable increase in awareness regarding veganism and plant-based diets in Brazil. This cultural shift has encouraged more consumers to explore dairy-free alternatives, including vegan ice cream. Brazil's rich biodiversity and access to a wide range of fruits and nuts have allowed for the creation of unique and authentic vegan ice cream flavors. Vegan ice cream products are readily available in major cities and urban areas across Brazil, making them accessible to a large portion of the population. For instance, Naturgy is a Brazilian company that produces a range of plant-based ice creams made from ingredients like coconut milk, cashews, and almonds. They are known for their creamy and indulgent flavors. Not Ice Cream is a Colombian startup that specializes in artisanal, dairy-free ice cream. They focus on using locally sourced fruits and unique Latin American ingredients to create innovative flavors. Frutos do Cerrado Brazilian brand focuses on sustainability and sources fruits from the Cerrado biome, a biodiverse region in Brazil. They offer a wide range of flavors inspired by fruits and nuts. The growth of almond milk as a primary ingredient for vegan ice cream in South America has been remarkable in recent years. Almond milk has gained popularity as a versatile and nutritious dairy milk alternative, and its adoption in the production of vegan ice cream aligns with the region's increasing interest in plant-based and dairy-free options. South American consumers, like those in many other regions, are becoming more health-conscious. Almond milk is often perceived as a healthier alternative to dairy milk due to its lower saturated fat content and potential health benefits. As people seek healthier dessert options, almond milk-based vegan ice cream is an attractive choice. Lactose intolerance is prevalent in South America, and many individuals are allergic to dairy products. Almond milk is lactose-free and non-allergenic, making it a suitable option for people with dietary restrictions. The rise of veganism and plant-based diets in South America has significantly contributed to the growth of almond milk in the vegan ice cream market. Almond milk is a staple in many plant-based diets, making it a natural choice for vegan ice cream production. Almond milk has a neutral, slightly nutty flavor that works well as a base for various ice cream flavors. It also has a creamy texture when properly processed, which is crucial for creating smooth and satisfying vegan ice cream. Almond milk is often perceived as more environmentally sustainable than dairy milk due to its lower water usage and greenhouse gas emissions. As environmental concerns grow in South America, consumers are more inclined to choose products with a lower ecological footprint. South America's diverse culinary traditions have influenced the use of almond milk in vegan ice cream. Almond milk can be incorporated into recipes inspired by various South American cuisines, resulting in a wide range of unique and culturally relevant flavors. In addition to that, almond milk is widely available in South American markets, both as a store-bought product and for homemade use. This accessibility has made it a convenient choice for vegan ice cream manufacturers. Food companies and entrepreneurs in South America have been innovative in developing almond milk-based vegan ice cream products. They experiment with different flavors, textures, and ingredients, creating options that cater to local tastes and preferences. South America, like many other regions, has seen a surge in interest in vegan and plant-based diets. Consumers are becoming more conscious of the environmental, ethical, and health implications of their food choices. As a result, they are actively seeking out vegan ice cream options. There is a growing emphasis on health and wellness across South America. Vegan ice cream, made from plant-based ingredients like almond milk, coconut milk, and soy milk, is perceived as a healthier alternative to traditional dairy ice cream. Convenience stores are capitalizing on this trend by offering healthier dessert choices. South America is a diverse region with various dietary preferences and restrictions. Convenience stores that cater to these diverse needs by offering a range of vegan ice cream options can attract a broader customer base, including vegans, vegetarians, lactose-intolerant individuals, and those with dairy allergies. Convenience stores often carry a variety of vegan ice cream brands and flavors, providing consumers with choices that suit their taste preferences. The availability of diverse flavors, from classic chocolate and vanilla to innovative and exotic options, attracts customers looking for variety. Many convenience store chains actively market and promote their vegan ice cream offerings. This includes in-store signage, promotions, and collaborations with vegan ice cream brands. Such marketing efforts raise awareness and drive sales. Many consumers in South America are becoming more environmentally conscious. Vegan ice cream, with its lower environmental footprint compared to dairy-based ice cream, aligns with these sustainability values, making it an attractive option for eco-conscious shoppers. The growth of convenience stores offering vegan ice cream in South America reflects a broader shift towards more diverse and inclusive food options. As consumer demand for vegan and plant-based products continues to rise, convenience stores are likely to expand their offerings and play a pivotal role in making these products accessible to a wider audience. This trend also encourages innovation in the vegan ice cream market, driving the development of new and exciting flavors and formulations to meet the evolving tastes of South American consumers.

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Manmayi Raval

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The growth of blended vegan ice cream in South America is a reflection of the increasing popularity of veganism and plant-based diets in the region. This growth is being driven by a number of factors, including concerns about animal welfare, environmental impact, and health. Blended vegan ice cream is made with plant-based ingredients such as soy milk, almond milk, or coconut milk. It is often blended with fruits, nuts, and seeds to create a creamy and delicious treat. Blended vegan ice cream is a good source of protein and fiber, and it is low in saturated fat and cholesterol. Some of the leading brands of blended vegan ice cream in South America include Ben & Jerry's, Häagen-Dazs, and So Delicious. These brands offer a variety of flavors, including chocolate, vanilla, strawberry, and coffee. Blended vegan ice cream can be found in supermarkets, health food stores, and ice cream shops across South America. The growth of blended vegan ice cream in South America is a positive development for the environment and for animal welfare. It is also a good option for people who are looking for a healthy and delicious alternative to traditional ice cream. The growth of the blended vegan ice cream market is expected to continue in the coming years. This is a trend that is likely to benefit both the environment and the health of people in South America. Key Developments • In 2023, the Brazilian company Haoma launched a line of vegan ice cream made with cashew milk. These ice creams are available in a variety of flavors, including chocolate, vanilla, and coffee. • In 2023, the Chilean company Veggilicious launched a line of vegan ice cream made with coconut milk. These ice creams are available in a variety of flavors, including mango, pineapple, and lúcuma. • In 2022, Ben & Jerry's launched two plant-based ice creams in Brazil, called "Chocolate Milk and Cookies" and "Dirt Cake". These flavors were also launched in other South American countries, such as Argentina, Chile, and Colombia. • In 2022, Oatly launched a line of vegan ice cream bars in Brazil. These bars are made with oat milk and are available in four flavors: Chocolate Fudge, Strawberry Swirl, Salted Caramel, and Vanilla. Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report • South America 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 • Brazil • Argentina • Colombia 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.