Plant based ice cream brand NadaMoo! has seen a massive increase in profits in the last two years with revenues increasing six-fold in that period. The family owned business has recently raised $4million to go towards developing new products, expanding distribution and growing the company.
The recent rapid growth of the dairy-free and plant based markets has benefitted companies such as NadaMoo!, who have ‘grown steadily’ since their launch in 2004. As the millennial generation in particular adopts the vegan lifestyle, the meat markets are seeing relatively flat growth. Health concerns, as well as the environmental impacts of animal agriculture has led to the increase in people adopting this lifestyle.
The growth in dairy-free and plant based markets means that the dairy and meat industry has consequently taken a hit. The alternative proteins market is reportedly growing at a compound annual rate of 8%, with the vegan ice cream market alone expected to be worth $2.5 billion.
The product that is made from organic, non-GMO ingredients is also low in cholesterol comes in a choice of flavours including Birthday Cake Cookie Dough, Pistachio Nut , Maple Pecan and Chocolate Peanut Butter. NadaMoo! say their products have “united dairy lovers and dairy-free die-hards everywhere”.