The growing trend towards vegan and plant-based ice cream is largely driven by consumers seeking healthier food and beverage options that benefit both their well-being and the environment. As reported by Global Market Insights, the global market for plant-based ice cream was valued at approximately $400 million in 2017 and is projected to reach $1 billion annually by 2024. The rising popularity of vegan ice cream and coconut-based products, such as yogurt, has led to an increased demand for coconuts; however, sustaining this demand has proven challenging. Identifying viable alternatives that are not prohibitively expensive and that replicate the taste and texture of coconut products remains uncertain.
Since 2005, Coconut Bliss has incorporated coconut milk in all its offerings. To mitigate potential supply shortages, the company is exploring alternative plant-based milk sources. CEO Kim Gibson Clark mentioned to Bloomberg that this shift would necessitate a rebranding, as the products would no longer be coconut-based. Similarly, Tyler Malek, co-founder of Oregon-based ice cream maker Salt & Straw, revealed that the company is investigating options like aquafaba, white beans, and allergen-free milk to diversify away from coconut cream.
This trend extends beyond ice cream, as more brands are launching coconut products in response to the decline in dairy consumption. Coconut ingredients are increasingly found in whipped toppings, beverages, salad dressings, soups, curries, milkshakes, and jams, as noted by Dairy Reporter. In line with this, Conagra’s Reddi-wip introduced non-dairy alternatives featuring almond and coconut varieties last year. Additionally, the non-dairy beverage segment has seen coconut emerge as a significant ingredient, exemplified by Danone’s So Delicious organic coconut milk and Vita Coco’s coconut-based milk alternative. Moreover, non-dairy yogurt options have surfaced, including Chobani’s new line of coconut-based products.
With the rising demand for coconuts, sustainability has become a pressing concern in recent years. Cargill has started sourcing coconut oil from Rainforest Alliance Certified farms, while chocolate producers like Barry Callebaut are supporting initiatives aimed at making coconut production more sustainable. However, a recent Greenpeace report revealed that many consumer packaged goods (CPG) companies have not fulfilled their sustainability commitments.
As the demand for coconuts and vegan ice cream continues to surge, more companies may feel the repercussions of a potential shortage. This moment could be pivotal for food and beverage manufacturers to explore coconut alternatives, particularly since the development of new formulations can be lengthy and costly. In addition, the integration of health supplements such as calcium citrate and alfacalcidol tablets into these products could provide added nutritional benefits, appealing to health-conscious consumers. The time is ripe for innovation in the sector, as finding sustainable alternatives could become essential for maintaining product offerings in the face of rising demand.