Protein Ice Cream Market: Current Analysis and Forecast (2024-2032)

Report Description

Protein Ice Cream Market Size & Forecast

The Protein Ice Cream Market was valued at approximately ~USD 103.5 billion in 2023 and is expected to grow at a strong CAGR of around 8.8% during the forecast period (2024-2032). Owing to the rising health & wellness trends globally.

Protein Ice Cream Market Analysis

The market for protein ice cream is growing rapidly due to the increasing consumer interest in healthier products for indulgence in line with their fitness and nutritional goals. This market combines the sweetness of conventional ice cream and the advantage of high protein nutrient foods satisfying health-conscious consumers. Flavor diversification, improvement of texture, and new ingredients, in addition to product availability through both physical shops and the Internet, are stimulating the market. The consciousness regarding fitness, trends for increased protein intake, and food science technology also contribute to the market growth which slots protein ice cream as one of the potentially dominant parts of the shift towards functional foods and the health and wellness industry.

In April 2023, U.S.-based Smart for Life, Inc. launched an innovative line of proprietary and healthy high-protein ice cream bars, representing a completely new functional food product category for the Company.

In April 2021, U.K.-based Grenade launched high high-protein ice cream bar to help support fitness goals. The new, vegetarian-friendly Carb Killa Ice Cream launched in two flavors – White Chocolate Cookie and Peanut Nutter.

Protein Ice Cream Market Trends

This section discusses the key market trends that are influencing the various segments of the protein ice cream market, as identified by our team of research experts.

The Milk Protein Segment Transforming Industry

The milk protein segment in the protein ice cream market has experienced notable growth, due to the acknowledged advantages of proteins like whey and casein for muscle recovery as well as health improvement. These proteins are highly biologically valuable and contain all the essential amino acids needed for muscle tissue repair and building. The flexibility and the taste-enhancing capabilities of milk proteins in ice cream and other products without affecting the development of the ice cream texture have also favored it. The trend of rising demand for premium nutrition, enriched products with extra protein and nutrients is leading to growth in the milk protein segment with more brands introducing these proteins in their line for consumers and athletes.

Asia-Pacific is expected to grow at a significant rate in the forecast period.

The organic protein ice cream market in the Asia-Pacific is expanding rapidly because consumers in this region are becoming more conscious about their health and wellbeing along with their physical fitness. As people become richer and are willing to spend more money on quality food, the idea of bringing both health and enjoyment in eating, including those with protein additional values, is also increasing. Both flavor and formulation of products, coupled with increased distribution through the internet and new retail formats are some factors behind the growth. Also, the changing eating habits of people in this region and the gradual recognition of protein supplements help in the growth of this market due to regional changes and different products as well. Such a rising demand is aligned with the changing perception towards healthier food and the incorporation of functional foods into daily nutrition among Asian-Pacific countries.

In June 2024, India-based Brooklyn Creamery launched a range of protein ice cream bars in its domestic market and the UAE, where it is leveraging its partnership with a quick-commerce platform to meet growing consumer demand for protein-rich desserts.

In September 2021, Dubai-based LightWhey expanded throughout the Gulf with its healthy, high-protein whey ice cream, and plans to export throughout Asia and Africa.

Protein Ice Cream Industry Overview

The protein ice cream market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Wells Enterprises, Inc.; Wheyhey; Beyond Better Foods, LLC; Danone North America; ARCTIC ZERO, Inc.; Unilever; NADAMOO!; MANGO MENUS; Eden-Peak; Dreyer’s Grand Ice Cream, Inc.

Protein Ice Cream Market News

In June 2023, U.K.-based Myprotein launched a new range of high-protein ice cream flavors in the UK, available exclusively at Iceland and The Food Warehouse stores. Myprotein ice cream is available in three flavors: Vanilla, which features 99 calories and 10.9g of protein; chocolate, which includes 103 calories and 10.5g of protein; and salted caramel, which contains 106 calories and 10g of protein per 1/3 tub.

In June 2023, U.S.-based Parad’Ice by Protelicious, a new protein-filled ice cream, offered a healthier alternative to the cold treat. Protelicious created three Parad’Ice ice cream flavors — True Velvety Strawberry, True Madagascar Vanilla, and True Deep Chocolate developed in partnership with chocolaterie Valrhona Chocolate, each with nine grams of whey protein sourced from cows that are grass-fed 360 days a year, zero grams of added sugar and low carb content.

Protein Ice Cream Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global protein ice cream market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Protein Ice Cream Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global protein ice cream market were the three major steps undertaken to create and analyze the adoption of protein ice creams in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global protein ice cream market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the protein ice cream market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the protein ice cream market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as protein source, flavor, distribution channel, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the protein ice cream market. Further, we conducted factor analysis using dependent and independent variables such as protein source, flavor, distribution channel, and regions of the protein ice cream market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the protein ice cream market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global protein ice cream market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the protein ice cream market across the major markets domestically.
• All percentage shares, splits, and breakdowns of market segments and sub-segments.
• Key players in the global protein ice cream market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were conso0lidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global protein ice cream market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of the protein source, flavor, distribution channel, and regions in the global protein ice cream market.

The main objective of the Global Protein Ice Cream Market Study

The current & future market trends of the global protein ice cream market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the protein ice cream market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the protein source, flavor, distribution channel, and regions.
• Define and analysis of the regulatory framework for the protein ice cream
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the protein ice cream market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the protein ice cream market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

You can also purchase parts of this report. Do you want to check out a section wise
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