Singapore-based investment group Epic Angels has invested in Kind Kones, a local plant-based ice cream brand.

This funding will support the company’s expansion in Southeast Asia and Dubai through both company-owned and franchised locations.

Co-founded by Serina and Ishpal Bajaj, Kind Kones offers over 150 dairy-free ice cream flavors, such as Almond Brittle Fudge and Pandan Gula Melaka.

The brand targets lactose-intolerant consumers and those interested in plant-based desserts.

The global plant-based dessert market was valued at US$3.4 billion in 2024 and is projected to reach US$6.2 billion by 2030.

🔗 Source: Epic Angels

🧠 Food for thought

1️⃣ Asia’s unique position in the plant-based dessert revolution

Kind Kones is tapping into a massive market opportunity created by a biological reality: over 90% of Asians are lactose intolerant, creating natural demand for dairy alternatives.

This regional characteristic helps explain why Asia dominates global vegetarian markets, with four countries (India, Indonesia, China, and Pakistan) accounting for over 540 million vegetarians—the largest concentration worldwide 1.

The plant-based ice cream segment specifically is projected to grow from $732.6 million in 2024 to $1.1 billion by 2034, representing significant commercial potential for brands like Kind Kones 2.

While cultural and religious factors have traditionally driven vegetarianism in the region, newer health consciousness and environmental sustainability concerns are creating additional growth, particularly in urban markets 1.

This combination of biological necessity, cultural practice, and evolving consumer preferences creates a favorable environment for plant-based dessert brands in Southeast Asia.

2️⃣ The competitive evolution of plant-based ice cream formulations

Kind Kones’ focus on high-quality ingredients without artificial additives reflects a critical competitive factor in the plant-based dessert market.

The industry has evolved significantly from early rudimentary alternatives to sophisticated products with diverse base ingredients including nuts, coconut, and various plant milks—innovations necessary to replicate the creamy texture consumers expect 3.