South Korea Vegan Ice Cream Market Overview
According to SPER Market Research, the South Korea Vegan Ice Cream Market is estimated to reach USD 0.054 billion by 2033 with a CAGR 5.14%.
Vegan ice creams are entirely plant-based treats. They, like other vegan foods, do not include any animal-derived ingredients. Vegan ice creams are those made with milk generated from non-dairy plant components. They can be made with any plant-based milk, including almond, soy, and coconut milk. Vegan ice creams are those that do not contain any animal-derived or dairy-based ingredients. Vegan ice creams are made using plant-based components such as soy milk, almond milk, cashew milk, and coconut milk. Vegan ice cream comes in a variety of flavours and shapes, with various ingredients and toppings.
Exploring the Growth Drivers of the South Korea Vegan Ice Cream Industry
The vegan ice cream market in South Korea has expanded in recent years, and numerous factors have contributed to its expansion. As individuals become more health-conscious, there is a greater demand for healthier, plant-based food options. Vegan ice cream, which is manufactured from plant-based components and is typically lower in calories and fat than standard dairy ice cream, is becoming increasingly popular among health-conscious consumers. Veganism and vegetarianism are becoming more popular in South Korea, particularly among younger generations. This has increased demand for plant-based culinary options, such as vegan ice cream.
What challenges does the South Korea Vegan Ice Cream Market face?
Despite the growth drivers for the South Korean vegan ice cream market, the sector faces significant hurdles. Due to the higher cost of plant-based components, vegan ice cream may be more expensive to create than typical dairy ice cream. This can make it difficult for businesses to price their products competitively, particularly in a market where consumers are accustomed to lower-priced classic ice cream. While veganism and vegetarianism are emerging trends in South Korea, many customers are still unaware of vegan ice cream. This can make it difficult for businesses to properly market and promote their products, as well as attract new clients to the market.
Overall, the vegan ice cream market in South Korea confronts various obstacles, including high costs, low awareness, distribution and availability issues, flavor and texture concerns, and competitiveness. Overcoming these obstacles will be important for the industry's future growth and success.
In what ways has the COVID-19 pandemic affected South Korea Vegan Ice Cream Market?
The COVID-19 epidemic has had both positive and negative effects on the vegan ice cream sector in South Korea. Here are some of the ways the epidemic has impacted the market. With the pandemic raising worries about health and wellbeing, many consumers have turned to healthier and plant-based culinary options, such as vegan ice cream. This has raised demand in South Korea for vegan ice cream products. Because of the epidemic, supply chains and distribution networks have been affected, making it impossible for some enterprises to create and distribute their products. This has resulted in some vegan ice cream product shortages in specific locations of South Korea.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Source, By Flavour, By Sales Type, By Distribution Channel
|
| Regions covered | Central Region, Eastern Region, Northern Region, Southern Region, Western Region
|
| Companies Covered | Beyond Better Foods, LLC, Lotte Confectionary Co., Ltd, Unilever Plc.
|
Key Target Audience:
- Business Owners
- Government Agencies
- Investors
- Marketers
- Researchers and Academics
South Korea Vegan Ice Cream Market Segmentation:
1. By Source:
- South Korea Vegan Ice Cream Market Value Share and Forecast, By Source, 2023-2033
- Almond Milk
- Cashew Milk
- Coconut Milk
- Soy Milk
2. By Flavour:
- South Korea Vegan Ice Cream Market Value Share and Forecast, By Flavour, 2023-2033
- Caramel
- Chocolate
- Coconut
- Coffee
- Fruit
- Vanilla
3. By Sales Type:
- South Korea Vegan Ice Cream Market Value Share and Forecast, By Sales Type, 2023-2033
- Artisanal
- Impulse
- Take Home
4. By Distribution Channel:
- South Korea Vegan Ice Cream Market Value Share and Forecast, By Distribution Channel, 2023-2033
- Convenience Stores
- Online
- Supermarket/Hypermarket
5. By Region:
- Central Region
- Eastern Region
- Northern Region
- Southern Region
- Western Region
Key Topics Covered in the Report:
- South Korea Vegan Ice Cream Market Size (FY’2023-FY’2033)
- Overview of South Korea Vegan Ice Cream Market
- Segmentation of South Korea Vegan Ice Cream Market By Source (Almond Milk, Cashew Milk, Coconut Milk, Soy Milk)
- Segmentation of South Korea Vegan Ice Cream Market By Flavour (Caramel, Chocolate, Coconut, Coffee, Fruit, Vanilla)
- Segmentation of South Korea Vegan Ice Cream Market By Sales Type (Artisanal, Impulse, Take Home)
- Segmentation of South Korea Vegan Ice Cream Market By Distribution Channel (Convenience Stores, Online, Supermarket/Hypermarket, Others)
- Statistical Snap of South Korea Vegan Ice Cream Market
- Growth Analysis of South Korea Vegan Ice Cream Market
- Problems and Challenges in South Korea Vegan Ice Cream Market
- Competitive Landscape in the South Korea Vegan Ice Cream Market
- Impact of COVID-19 and Demonetization on South Korea Vegan Ice Cream Market
- Details on Recent Investment in South Korea Vegan Ice Cream Market
- Competitive Analysis of South Korea Vegan Ice Cream Market
- Key Players in the South Korea Vegan Ice Cream Market
- SWOT Analysis of South Korea Vegan Ice Cream Market
- South Korea Vegan Ice Cream Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Vegan Ice Cream Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Vegan Ice Cream Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Vegan Ice Cream Market
7. South Korea Vegan Ice Cream Market, By Source (USD Million)
7.1. South Korea Vegan Ice Cream Market Value Share and Forecast, By Source, 2023-2033
7.2. Almond Milk
7.3. Cashew Milk
7.4. Coconut Milk
7.5. Soy Milk
8. South Korea Vegan Ice Cream Market, By Flavour (USD Million)
8.1. South Korea Vegan Ice Cream Market Value Share and Forecast, By Flavour, 2023-2033
8.2. Caramel
8.3. Chocolate
8.4. Coconut
8.5. Coffee
8.6. Fruit
8.7. Vanilla
9. South Korea Vegan Ice Cream Market, By Sales Type (USD Million)
9.1. South Korea Vegan Ice Cream Market Value Share and Forecast, By Sales Type, 2023-2033
9.2. Artisanal
9.3. Impulse
9.4. Take Home
10. South Korea Vegan Ice Cream Market, By Distribution Channel (USD Million)
10.1. South Korea Vegan Ice Cream Market Value Share and Forecast, By Distribution Channel, 2023-2033
10.2. Convenience Stores
10.3. Online
10.4. Supermarket/Hypermarket
10.5. Others
11. South Korea Vegan Ice Cream Market Forecast, 2019-2033 (USD Million)
11.1. South Korea Vegan Ice Cream Market Size and Market Share
12. South Korea Vegan Ice Cream Market, By Source, 2019-2033 (USD Million)
12.1. South Korea Vegan Ice Cream Market Size and Market Share by Source (2019-2026)
12.2. South Korea Vegan Ice Cream Market Size and Market Share by Source (2027-2033)
13. South Korea Vegan Ice Cream Market, By Flavour, 2019-2033 (USD Million)
13.1. South Korea Vegan Ice Cream Market Size and Market Share by Flavour (2019-2026)
13.2. South Korea Vegan Ice Cream Market Size and Market Share by Flavour (2027-2033)
14. South Korea Vegan Ice Cream Market, By Sales Type, 2019-2033 (USD Million)
14.1. South Korea Vegan Ice Cream Market Size and Market Share by Sales Type (2019-2026)
14.2. South Korea Vegan Ice Cream Market Size and Market Share by Sales Type (2027-2033)
15. South Korea Vegan Ice Cream Market, By Distribution Channel, 2019-2033 (USD Million)
15.1. South Korea Vegan Ice Cream Market Size and Market Share by Distribution Channel (2019-2026)
15.2. South Korea Vegan Ice Cream Market Size and Market Share by Distribution Channel (2027-2033)
16. South Korea Vegan Ice Cream Market, By Region, 2019-2033 (USD Million)
16.1. South Korea Vegan Ice Cream Market Size and Market Share by Region (2019-2026)
16.2. South Korea Vegan Ice Cream Market Size and Market Share by Region (2027-2033)
16.3. Central Region
16.4. Eastern Region
16.5. Northern Region
16.6. Southern Region
16.7. Western Region
17. Company Profile
17.1. Beyond Better Foods, LLC
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Lotte Confectionary Co., Ltd
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Unilever Plc
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
