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Dairy Alternatives Market by Source (Soy, Almond, Coconut, Oats, Hemp), Application (Milk, Yogurt, Ice Creams, Cheese, Creamers), Distribution Channel (Retail, Online Stores, Foodservice), Formulation and Region - Global Forecast to 2028
Market Report I 2023-10-05 I 289 Pages I MarketsandMarkets
The global market for dairy alternatives is estimated to be valued at USD 27.0 Billion in 2023 and is projected to reach USD 43.6 Billion by 2028, at a CAGR of 10.1% during the forecast period. The rising health concerns and the changing consumer perception have fueled the demand for dairy alternative products. The sales of these products can be increased by adopting marketing strategies such as segmentation and diversification. The objective is to create more demand among health-conscious consumers, vegetarians, flexitarians, and vegans. It is crucial to position the product in the right place through the right sales channel.
The strategic application of promotional strategies has effectively amplified growth prospects within this market. Producers of almond milk, by adeptly situating their brands within the dairy alternatives category, have garnered significant popularity and witnessed substantial growth. The surge in health consciousness and shifts in lifestyle choices have acted as catalysts for the expansion of the dairy alternatives market. Furthermore, the continuous commitment of plant-based beverage manufacturers to introduce innovative flavors, extend product shelf life, and enhance nutritional profiles positions the dairy alternatives market for projected growth in the years ahead. Nonetheless, the market faces challenges in terms of high production costs and the limited availability of raw materials.
"The flavored sub-segment in the formulation segment is estimated to grow at a CAGR of 10.4% during the forecast period."
The market offers a variety of flavored and sweetened dairy alternatives, including options like dairy-free yogurt, milk, and frozen desserts, in response to evolving consumer preferences and as a means for manufacturers to diversify their product offerings. The addition of flavor enhances the taste appeal of dairy alternatives such as soy, rice, and oat milk. Furthermore, blended versions of flavored and sweetened products are in high demand. Among the available flavored plant-based products, vanilla and chocolate are the most prevalent, followed by flavors like peach, strawberry, blueberry, and mango. Companies have introduced fruit-flavored products to broaden their consumer base and expand their market presence. For instance, Dream Frozen Yogurt by The Hain Celestial Group (US) is a notable example of a flavored and sweetened dairy alternative product. To achieve creamier textures, many product launches incorporate ingredients such as coconuts or blends like coconut and oat, along with other plant-based alternatives. Rich dessert flavors such as hazelnut fudge brownies or blood orange mimosas can enhance non-dairy yogurts, yogurt beverages, ice cream, and frozen treats. Dairy-free flavors improve the taste and texture of alternatives. Added at the start of production, they neutralize bases, mask flavors, and add mouthfeel. Flavored, unsweetened, dairy-free options are popular due to health-consciousness and wide flavor range. Suitable for diabetics.
"The dairy alternatives market distributed through online channels is projected to grow at the highest CAGR of 11.9% during the forecast period due to ease of ordering."
Numerous prominent players in the industry have embarked on the journey of offering their products for sale through online channels. This strategic move not only benefits consumers by simplifying the ordering process but also ensures convenient doorstep delivery. Many comprehensive online platforms have transitioned to the digital realm, making it more hassle-free for consumers to make their purchases. Moreover, these virtual retailers present a diverse range of options for specific dairy-free food products, often at discounted rates in comparison to traditional brick-and-mortar retail, aimed at enticing a broader customer base.
The utilization of online services has witnessed a significant uptick in both developed and developing markets. This growth can be attributed to the swifter accessibility and cost-effectiveness that online shopping offers. Additionally, several online service providers go the extra mile by furnishing in-depth information about various gluten-free food product brands, empowering consumers to make informed choices. Over the past decade, the surge in online shopping frequency has opened lucrative opportunities not only for established online giants but also for regional domestic e-retailers. Notable names in this domain include industry giants like Amazon, specialized platforms like Vegan Online, and health-conscious choices like Goodness Direct.
"North America to grow at the CAGR of 9.0% during the forecast period, in dairy alternatives market to reach a value of USD 9.0 billion by 2028."
The health benefits of dairy alternatives and their vast application in food & beverage products fuel the growth of the North American dairy alternatives market. According to the Dietary Guidelines for Americans, 2020-2025, 65% of young children, 34% of adolescents, and 20% of adult Americans consume milk as a beverage. Americans generally consume dairy in the form of cheese in pizzas, sandwiches, and pasta dishes. According to the same source, around 74% of adults are overweight, and 35% are prediabetic. The cases of lactose intolerance and milk allergies are also on the rise. Thus, the guidelines recommend the consumption of low-fat and fortified soy dairy alternatives for healthy nutritional balance. These factors, along with the increasing health consciousness among consumers, are driving the dairy alternatives market in the region. The WhiteWave Foods Company (US), Archer Daniels Midland Company (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US), and SunOpta Inc. (Canada) are some of the major players in the North American dairy alternatives market. Many of these players are focusing on innovation and expansion.
Since 2021, the Hain Celestial Group (US) has been focused on expanding its product portfolio in the plant-based diet category and acquisitions in North America. Dairy alternatives such as rice, hazelnut, and hemp are also on a surge in the North American market owing to their nutritional benefits.
The break-up of the profile of primary participants in the dairy alternatives market:
- By Company Type: Tier 1 - 30%, Tier 2 - 30%, Tier 3 - 40%
- By Designation: CXO's level - 40%, Managers- 25%, Executives - 35%
- By Region: North America -16%, Europe - 30%, Asia Pacific - 40%, RoW- 14%
Major key players in the dairy alternatives market are Danone North America Public Benefit Corporation (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US) .
Research Coverage:
This research report categorizes the dairy alternatives market by Source (soy, almond, coconut, rice, oats, hemp, other sources), Formulation (Flavored, plain), Application (milk, ice cream , yogurt, cheese, creamers, butter, other applications), Distribution Channel (retail, online stores, foodservice), by nutrient (protein, starch, vitamins, other nutrients) and by region (North America, Europe, Asia Pacific, South America, RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the dairy alternatives market. A detailed analysis of the key industry players has been done to provide insights into their business overview, services, key strategies, contracts, partnerships, and agreements. New service launches, mergers and acquisitions, and recent developments associated with the dairy alternatives market. Competitive analysis of upcoming startups in the dairy alternatives market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall dairy alternatives market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Growth in consumer preference for vegan diet, evolving dietary lifestyles, Increase in cases of lactose intolerance and milk allergies), restraints (volatile prices of raw materials, allergy concerns among consumers of soy products), opportunities (growth in demand in emerging markets such as sweet and confectionary, favorable marketing and correct positioning of dairy alternatives, changes in lifestyles of consumers), and challenges (limited availability of raw materials, low awareness among consumers) influencing the growth of the dairy alternatives market.
New product launch/Innovation: Detailed insights on research & development activities, and new product launches in the dairy alternatives market.
Market Development: Comprehensive information about lucrative markets - the report analyses the dairy alternatives market across varied regions.
Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the dairy alternatives market.
Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like Danone North America Public Benefit Corporation (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (New Zealand) and others in the dairy alternatives market strategies.
1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 27
1.3 MARKET SCOPE 28
FIGURE 1 DAIRY ALTERNATIVES MARKET SEGMENTATION 28
1.3.1 STUDY SCOPE 29
1.3.2 YEARS CONSIDERED 29
1.4 CURRENCY CONSIDERED 30
TABLE 1 USD EXCHANGE RATES, 2018-2021 30
1.5 UNIT CONSIDERED 30
1.6 STAKEHOLDERS 31
1.7 SUMMARY OF CHANGES 31
1.7.1 RECESSION IMPACT ANALYSIS 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
FIGURE 2 RESEARCH DESIGN 32
2.1.1 SECONDARY DATA 33
2.1.1.1 Key data from secondary sources 33
2.1.2 PRIMARY DATA 33
2.1.2.1 Key data from primary sources 34
2.1.2.2 Breakdown of primary interviews 34
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION 34
2.1.2.3 Key primary insights 35
2.2 MARKET SIZE ESTIMATION 35
2.2.1 BOTTOM-UP APPROACH 36
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 36
2.2.2 TOP-DOWN APPROACH 37
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 37
2.3 DATA TRIANGULATION 38
FIGURE 6 DATA TRIANGULATION METHODOLOGY 38
2.4 STUDY ASSUMPTIONS 39
2.5 LIMITATIONS AND RISK ASSESSMENT 39
2.6 RECESSION IMPACT 40
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3 EXECUTIVE SUMMARY 41
FIGURE 7 DAIRY ALTERNATIVES MARKET SNAPSHOT, BY SOURCE, 2023 VS. 2028 42
FIGURE 8 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 42
FIGURE 9 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023 VS. 2028 (USD MILLION) 43
FIGURE 10 DAIRY ALTERNATIVES MARKET, BY REGION 44
4 PREMIUM INSIGHTS 45
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN DAIRY ALTERNATIVES MARKET 45
FIGURE 11 RISING DEMAND FOR DAIRY ALTERNATIVES DUE TO INCREASING CASES OF LACTOSE INTOLERANCE 45
4.2 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY FORMULATION & COUNTRY 46
FIGURE 12 FLAVORED FORMULATION AND CHINA TO ACCOUNT FOR LARGEST SEGMENTAL SHARES IN 2023 46
4.3 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL & REGION 47
FIGURE 13 RETAIL TO DOMINATE ACROSS MOST REGIONS DURING FORECAST PERIOD 47
4.4 DAIRY ALTERNATIVES MARKET, BY KEY COUNTRY 48
FIGURE 14 CHINA DOMINATED DAIRY ALTERNATIVES MARKET IN 2022 48
5 MARKET OVERVIEW 49
5.1 INTRODUCTION 49
5.2 MACROECONOMIC INDICATORS 49
5.2.1 RISE IN FOOD DEMAND FROM GROWING POPULATION 49
FIGURE 15 POPULATION PROJECTED TO REACH MORE THAN 9.5 BILLION BY 2050 50
5.2.2 INCREASE IN SOYBEAN PRODUCTION 50
FIGURE 16 SOYBEAN PRODUCTION, BY KEY COUNTRY, 2016-2020 (MILLION TON) 51
5.3 MARKET DYNAMICS 51
FIGURE 17 MARKET DYNAMICS: DAIRY ALTERNATIVES MARKET 51
5.3.1 DRIVERS 52
5.3.1.1 Growth in consumer preference for plant-based diet 52
FIGURE 18 UK: FASTEST-GROWING TAKEAWAY CUISINES, 2016-2019 52
5.3.1.1.1 Nutritional benefits of plant-derived dairy substitutes 52
TABLE 2 NUTRITIONAL CONTENT OF PLANT-BASED MILK PRODUCTS 53
5.3.1.1.2 Rise in consumers shift toward plant-based nutrition 53
5.3.1.1.3 Evolution in dietary lifestyles toward newer trends 54
5.3.1.1.4 Increase in lactose intolerance and milk allergy cases 55
TABLE 3 LACTOSE CONTENT IN DAIRY FOOD PRODUCTS 55
5.3.2 RESTRAINTS 55
5.3.2.1 Volatile prices of raw materials 55
5.3.2.2 Allergy concerns among consumers of soy products 56
5.3.3 OPPORTUNITIES 56
5.3.3.1 Emerging markets for premium vegan confections 56
5.3.3.2 Effective marketing strategies and correct positioning of dairy alternatives 57
5.3.3.3 Changes in lifestyles and prospects for manufacturers in emerging economies 57
5.3.4 CHALLENGES 58
5.3.4.1 Limited availability of raw materials 58
5.3.4.2 Low awareness among consumers 58
6 INDUSTRY TRENDS 59
6.1 OVERVIEW 59
6.2 SUPPLY CHAIN ANALYSIS 59
FIGURE 19 SUPPLY CHAIN INTEGRITY IN DAIRY ALTERNATIVES MARKET 60
6.3 VALUE CHAIN ANALYSIS 61
FIGURE 20 VALUE CHAIN ANALYSIS 61
6.3.1 SOURCING 61
6.3.2 PROCESSING 62
6.3.3 MANUFACTURING 62
6.3.4 PACKAGING & STORAGE 62
6.3.5 DISTRIBUTION 62
6.3.6 SALES CHANNEL 63
6.4 TRADE ANALYSIS 63
6.4.1 ALMONDS 63
TABLE 4 TOP TEN IMPORTERS AND EXPORTERS OF ALMONDS, 2022 (KT) 63
6.4.2 SOYBEANS 64
TABLE 5 TOP TEN IMPORTERS AND EXPORTERS OF SOYBEANS, 2022 (KT) 64
6.4.3 OATS 64
TABLE 6 TOP TEN IMPORTERS AND EXPORTERS OF OATS, 2022 (KT) 64
6.4.4 RICE 65
TABLE 7 TOP TEN IMPORTERS AND EXPORTERS OF RICE, 2022 (KT) 65
6.4.5 COCONUT 65
TABLE 8 TOP TEN IMPORTERS AND EXPORTERS OF COCONUT, 2022 (KT) 65
6.4.6 HEMP 66
TABLE 9 TOP TEN IMPORTERS AND EXPORTERS OF HEMP, 2022 (KT) 66
6.5 TECHNOLOGY ANALYSIS 66
6.5.1 WET PROCESSING METHOD FOR PRODUCING DAIRY ALTERNATIVE MILK 66
6.5.2 DRY PROCESSING METHOD FOR PRODUCING DAIRY ALTERNATIVE MILK 67
6.6 PRICING ANALYSIS 67
6.6.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION 67
FIGURE 21 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION (USD/LITER) 68
6.6.2 AVERAGE SELLING PRICE TREND, BY REGION 68
TABLE 10 DAIRY ALTERNATIVES MARKET: AVERAGE SELLING PRICE TREND, BY REGION, (USD/LITER) 68
6.6.3 AVERAGE SELLING PRICE TREND, BY APPLICATION 69
TABLE 11 DAIRY ALTERNATIVES MARKET: AVERAGE SELLING PRICE. BY APPLICATION, (USD/LITER) 69
6.7 MARKET ECOSYSTEM ANALYSIS 69
FIGURE 22 DAIRY ALTERNATIVES MARKET: ECOSYSTEM VIEW 69
TABLE 12 DAIRY ALTERNATIVES MARKET: ECOSYSTEM MAPPING 69
FIGURE 23 MARKET MAP 70
6.8 TRENDS/DISRUPTIONS IMPACTING BUYERS IN DAIRY ALTERNATIVES MARKET 71
FIGURE 24 REVENUE SHIFT IN DAIRY ALTERNATIVES MARKET 71
6.9 PATENT ANALYSIS 71
TABLE 13 LIST OF MAJOR PATENTS PERTAINING TO DAIRY ALTERNATIVES MARKET, 2013-2022 71
FIGURE 25 NUMBER OF PATENTS GRANTED, 2013-2022 73
FIGURE 26 REGIONAL ANALYSIS OF PATENTS GRANTED 74
6.10 KEY CONFERENCES & EVENTS 74
TABLE 14 DETAILED LIST OF KEY CONFERENCES & EVENTS, 2022-2023 74
6.11 TARIFF AND REGULATORY LANDSCAPE 75
6.11.1 CODEX ALIMENTARIUS COMMISSION 75
6.11.2 FOOD AND DRUG ADMINISTRATION (FDA) 75
6.11.3 THE SOYFOODS ASSOCIATION OF AMERICA 75
6.11.3.1 Classification of Soymilk 75
TABLE 15 SOYMILK COMPOSITION 76
6.11.4 FOOD STANDARDS AUSTRALIA NEW ZEALAND (FSANZ) 76
TABLE 16 SOME MANDATORY ADVISORY STATEMENTS GIVEN BY FSANZ 76
6.11.5 EUROPEAN COURT OF JUSTICE 77
TABLE 17 LIST OF KEY REGULATORY BODIES FOR DAIRY ALTERNATIVES 77
6.12 PORTER'S FIVE FORCES ANALYSIS 78
TABLE 18 IMPACT OF PORTER'S FIVE FORCES 78
6.12.1 INTENSITY OF COMPETITIVE RIVALRY 78
6.12.2 BARGAINING POWER OF SUPPLIERS 78
6.12.3 BARGAINING POWER OF BUYERS 79
6.12.4 THREAT OF SUBSTITUTES 79
6.12.5 THREAT OF NEW ENTRANTS 79
6.13 CASE STUDY ANALYSIS 80
6.13.1 DANONE NORTH AMERICA LAUNCHED DAIRY-LIKE SEGMENT BY INTRODUCING SILK NEXTMILK AND SO DELICIOUS WONDERMILK 80
6.13.2 BLUE DIAMOND GROWERS PARTNERED WITH GROUP LALA TO ESTABLISH NETWORK IN MEXICO 80
6.14 KEY STAKEHOLDERS & BUYING CRITERIA 81
6.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 81
FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY KEY APPLICATION 81
TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY KEY APPLICATION 81
6.14.2 BUYING CRITERIA 82
TABLE 20 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS, BY KEY APPLICATION 82
FIGURE 28 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS, BY KEY APPLICATION 82
7 DAIRY ALTERNATIVES MARKET, BY SOURCE 83
7.1 INTRODUCTION 84
FIGURE 29 DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023 VS. 2028 (USD MILLION) 84
TABLE 21 DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 85
TABLE 22 DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 85
7.2 SOY 85
7.2.1 WIDESPREAD ACCESSIBILITY AND POPULARITY OF SOY-DERIVED ITEMS TO BOOST GROWTH 85
7.2.2 MILK 86
FIGURE 30 HISTORICAL & PROJECTED SOYMILK SALES, 2016-2022 (USD MILLION) 86
7.2.3 YOGURT 87
7.2.4 OTHER SOY APPLICATIONS 87
FIGURE 31 SOY-BASED PRODUCT CONSUMPTION, BY APPLICATION, 2019 87
TABLE 23 SOY-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 87
TABLE 24 SOY-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 88
7.3 ALMOND 88
7.3.1 RISE IN DEMAND FOR MIXED ALMOND-DERIVED ITEMS SUPPLY TO DRIVE MARKET 88
7.3.2 MILK 89
7.3.3 YOGURT 89
7.3.4 OTHER ALMOND APPLICATIONS 89
FIGURE 32 ALMOND PRODUCT CONSUMPTION, BY APPLICATION, 2019 90
TABLE 25 ALMOND-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 90
TABLE 26 ALMOND-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 90
7.4 COCONUT 91
7.4.1 COCONUT'S APPEALING TASTE AND NUTRITIONAL BENEFITS TO BOLSTER GROWTH 91
7.4.2 MILK 91
7.4.3 YOGURT 91
7.4.4 OTHER COCONUT APPLICATIONS 92
FIGURE 33 COCONUT PRODUCT CONSUMPTION, BY APPLICATION, 2019 92
TABLE 27 COCONUT-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 92
TABLE 28 COCONUT-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 93
7.5 RICE 93
7.5.1 DECREASED POTENTIAL FOR ALLERGIES AND LESS DISTINCTIVE TASTE TO DRIVE RICE SEGMENT 93
7.5.2 MILK 93
7.5.3 YOGURT 94
7.5.4 OTHER RICE APPLICATIONS 94
FIGURE 34 RICE PRODUCT CONSUMPTION, BY APPLICATION, 2019 94
TABLE 29 RICE-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 95
TABLE 30 RICE-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 95
7.6 OATS 95
7.6.1 RICH NUTRITIONAL CONTENT OF OAT-DERIVED DAIRY ALTERNATIVES TO DRIVE MARKET 95
7.6.2 MILK 95
7.6.3 YOGURT 96
7.6.4 OTHER OAT APPLICATIONS 96
FIGURE 35 OAT PRODUCT CONSUMPTION, BY APPLICATION, 2019 97
TABLE 31 OAT-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 97
TABLE 32 OAT-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 97
7.7 HEMP 98
7.7.1 RISE IN HEALTH AWARENESS REGARDING HEMP-BASED DAIRY ALTERNATIVES TO PROPEL MARKET 98
7.7.2 MILK 98
7.7.3 YOGURT 99
7.7.4 OTHER HEMP APPLICATIONS 99
FIGURE 36 HEMP PRODUCT CONSUMPTION, BY APPLICATION, 2019 100
TABLE 33 HEMP-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 100
TABLE 34 HEMP-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 100
7.8 OTHER SOURCES 101
TABLE 35 NUTRITIONAL COMPARISON OF KEY COMMERCIALLY AVAILABLE PLANT-BASED MILK ALTERNATIVES 102
TABLE 36 FUNCTIONAL COMPONENTS OF PLANT-BASED MILK ALTERNATIVES AND THEIR HEALTH BENEFITS 102
TABLE 37 OTHER SOURCE-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 103
TABLE 38 OTHER SOURCE-BASED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 103
8 DAIRY ALTERNATIVES MARKET, BY FORMULATION 104
8.1 INTRODUCTION 105
FIGURE 37 DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023 VS. 2028 (USD MILLION) 105
TABLE 39 DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 105
TABLE 40 DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 106
8.2 FLAVORED 106
8.2.1 INCREASE IN DEMAND FOR PALATABLE BUT HEALTHIER DAIRY ALTERNATIVES TO DRIVE GROWTH 106
TABLE 41 FLAVORED DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 107
TABLE 42 FLAVORED DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 107
8.3 PLAIN 108
8.3.1 VERSATILITY OF APPLICATION OF PLAIN ALTERNATIVES TO BOLSTER GROWTH 108
TABLE 43 PLAIN DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 109
TABLE 44 PLAIN DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 109
9 DAIRY ALTERNATIVES MARKET, BY APPLICATION 110
9.1 INTRODUCTION 111
FIGURE 38 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 111
TABLE 45 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 112
TABLE 46 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 112
TABLE 47 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 112
TABLE 48 DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 113
9.2 MILK 113
9.2.1 HIGHER AWARENESS ABOUT HEALTH BENEFITS OF MILK ALTERNATIVES TO BOOST GROWTH 113
FIGURE 39 PLANT-BASED MILK SALES, 2016-2022 (USD MILLION) 114
TABLE 49 NUTRITIONAL COMPOSITION OF PLANT-BASED MILK ALTERNATIVES (PER 100 ML) 114
TABLE 50 DAIRY ALTERNATIVES MARKET IN MILK APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 115
TABLE 51 DAIRY ALTERNATIVES MARKET IN MILK APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 115
9.3 ICE CREAM 115
9.3.1 BENEFITS OF CHOLESTEROL-AND FAT-FREE DESSERTS TO DRIVE GROWTH 115
TABLE 52 DAIRY ALTERNATIVES MARKET IN ICE CREAM APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 116
TABLE 53 DAIRY ALTERNATIVES MARKET IN ICE CREAM APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 116
9.4 YOGURT 116
9.4.1 INCREASE IN POPULARITY OF FORTIFIED YOGURT TO PROPEL MARKET GROWTH 116
TABLE 54 DAIRY ALTERNATIVES MARKET IN YOGURT APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 117
TABLE 55 DAIRY ALTERNATIVES MARKET IN YOGURT APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 117
9.5 CHEESE 118
9.5.1 HIGH REPEAT BUYING RATES OF PLANT-BASED CHEESE TO DRIVE GROWTH 118
TABLE 56 DAIRY ALTERNATIVES MARKET IN CHEESE APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 118
TABLE 57 DAIRY ALTERNATIVES MARKET IN CHEESE APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 119
9.6 CREAMERS 119
9.6.1 HEAVY INVESTMENTS IN R&D TO MEET GROWING DEMAND FOR DAIRY-FREE CREAMERS TO DRIVE GROWTH 119
TABLE 58 DAIRY ALTERNATIVES MARKET IN CREAMER APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 120
TABLE 59 DAIRY ALTERNATIVES MARKET IN CREAMER APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 120
9.7 BUTTER 120
9.7.1 LOWER SATURATED FATS, WITH SIMILAR FUNCTIONALITIES TO DAIRY BUTTER, TO DRIVE ADOPTION OF PLANT-BASED BUTTER 120
TABLE 60 NUTRITIONAL COMPOSITION OF PLANT-BASED BUTTER (PER 100 ML) 121
TABLE 61 DAIRY ALTERNATIVES MARKET IN BUTTER APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 121
TABLE 62 DAIRY ALTERNATIVES MARKET IN BUTTER APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 121
9.8 OTHER APPLICATIONS 122
TABLE 63 DAIRY ALTERNATIVES MARKET IN OTHER APPLICATIONS, BY REGION, 2018-2022 (USD MILLION) 122
TABLE 64 DAIRY ALTERNATIVES MARKET IN OTHER APPLICATIONS, BY REGION, 2023-2028 (USD MILLION) 122
10 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL 123
10.1 INTRODUCTION 124
FIGURE 40 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023 VS. 2028 (USD MILLION) 124
TABLE 65 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 124
TABLE 66 DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 124
10.2 RETAIL 125
TABLE 67 RETAIL DISTRIBUTION MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 125
TABLE 68 RETAIL DISTRIBUTION MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 125
TABLE 69 RETAIL DISTRIBUTION CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 125
TABLE 70 RETAIL DISTRIBUTION CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 126
10.2.1 SUPERMARKETS/HYPERMARKETS 126
10.2.1.1 Greater convenience and availability of multiple food options for consumers to drive segment 126
TABLE 71 SUPERMARKET/HYPERMARKET DISTRIBUTION CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 127
TABLE 72 SUPERMARKET/HYPERMARKET DISTRIBUTION CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 127
10.2.2 HEALTH FOOD STORES 127
10.2.2.1 Prioritizing clean and nutritious food choices for health benefits to encourage segment expansion 127
TABLE 73 HEALTH FOOD STORE DISTRIBUTION CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 128
TABLE 74 HEALTH FOOD STORE DISTRIBUTION CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 128
10.2.3 PHARMACIES 128
10.2.3.1 Increase in health issues and prescriptions for allergies to spur growth 128
TABLE 75 PHARMACY DISTRIBUTION CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 129
TABLE 76 PHARMACY DISTRIBUTION CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 129
10.2.4 CONVENIENCE STORES 129
10.2.4.1 Higher demand for easy access and convenience to customers to boost growth 129
TABLE 77 CONVENIENCE STORE DISTRIBUTION CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 130
TABLE 78 CONVENIENCE STORE DISTRIBUTION CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 130
10.2.5 OTHER RETAIL CHANNELS 131
TABLE 79 OTHER RETAIL CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 131
TABLE 80 OTHER RETAIL CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 131
10.3 FOOD SERVICES 131
10.3.1 RISE IN NEED TO ACCOMMODATE CHANGING CONSUMER PREFERENCES TO DRIVE GROWTH 131
TABLE 81 FOOD SERVICE CHANNELS MARKET, BY REGION, 2018-2022 (USD MILLION) 132
TABLE 82 FOOD SERVICE CHANNELS MARKET, BY REGION, 2023-2028 (USD MILLION) 132
10.4 ONLINE STORES 132
10.4.1 DEMAND FOR QUICK ACCESSIBILITY AND COST-EFFECTIVE PURCHASES TO PROPEL MARKET 132
TABLE 83 ONLINE STORES MARKET, BY REGION, 2018-2022 (USD MILLION) 133
TABLE 84 ONLINE STORES MARKET, BY REGION, 2023-2028 (USD MILLION) 133
11 DAIRY ALTERNATIVES MARKET, BY NUTRIENT 134
11.1 INTRODUCTION 134
TABLE 85 NUTRIENT CONTENT IN DAIRY ALTERNATIVES(PER 100 ML) 134
11.2 PROTEIN 134
11.3 STARCH 134
11.4 VITAMINS 135
11.5 OTHER NUTRIENTS 135
12 DAIRY ALTERNATIVES MARKET, BY REGION 136
12.1 INTRODUCTION 137
FIGURE 41 SPAIN TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 137
TABLE 86 DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 138
TABLE 87 DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 138
TABLE 88 DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (MILLION LITERS) 138
TABLE 89 DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (MILLION LITERS) 139
12.2 MACROECONOMIC INDICATORS OF RECESSION 139
FIGURE 42 INDICATORS OF RECESSION 139
FIGURE 43 GLOBAL INFLATION RATES, 2011-2022 140
FIGURE 44 GLOBAL GDP, 2011-2022 (USD TRILLION) 141
FIGURE 45 RECESSION INDICATORS AND THEIR IMPACT ON DAIRY ALTERNATIVES MARKET 142
FIGURE 46 DAIRY ALTERNATIVES MARKET: PREVIOUS FORECAST VS. RECESSION IMPACT FORECAST, 2023 142
12.3 NORTH AMERICA 143
12.3.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS 143
FIGURE 47 NORTH AMERICA: INFLATION RATES, BY COUNTRY, 2017-2022 144
FIGURE 48 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, RECESSION IMPACT ANALYSIS, 2023 145
TABLE 90 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2018-2022 (USD MILLION) 145
TABLE 91 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 145
TABLE 92 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 146
TABLE 93 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 146
TABLE 94 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 146
TABLE 95 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 147
TABLE 96 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 147
TABLE 97 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 147
TABLE 98 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 148
TABLE 99 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 148
TABLE 100 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 148
TABLE 101 NORTH AMERICA: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 149
TABLE 102 NORTH AMERICA: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 149
TABLE 103 NORTH AMERICA: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 149
12.3.2 US 150
12.3.2.1 High income of families to drive demand for dairy alternatives 150
FIGURE 49 US: PLANT-BASED MILK RETAIL MARKET, 2019-2022 (USD BILLION) 150
TABLE 104 US: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 151
TABLE 105 US: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 151
12.3.3 CANADA 151
12.3.3.1 Change in consumer preference toward protein-rich dairy substitutes to boost growth 151
TABLE 106 CANADA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 152
TABLE 107 CANADA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 152
12.3.4 MEXICO 153
12.3.4.1 Urbanization and environment-consciousness to propel market 153
FIGURE 50 MEXICO: SOY FOOD SALES, BY TYPE, 2017-2020 (USD MILLION) 153
TABLE 108 MEXICO: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 154
TABLE 109 MEXICO: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 154
12.4 EUROPE 154
FIGURE 51 EUROPE: DAIRY ALTERNATIVES MARKET SNAPSHOT 155
12.4.1 EUROPE: RECESSION IMPACT ANALYSIS 156
FIGURE 52 EUROPE: INFLATION RATES, BY COUNTRY 2017-2022 157
FIGURE 53 EUROPE: DAIRY ALTERNATIVES MARKET, RECESSION IMPACT ANALYSIS, 2023 157
TABLE 110 EUROPE: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2018-2022 (USD MILLION) 158
TABLE 111 EUROPE: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 158
TABLE 112 EUROPE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 158
TABLE 113 EUROPE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 159
TABLE 114 EUROPE: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 159
TABLE 115 EUROPE: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 159
TABLE 116 EUROPE: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 160
TABLE 117 EUROPE: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 160
TABLE 118 EUROPE: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 160
TABLE 119 EUROPE: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 161
TABLE 120 EUROPE: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 161
TABLE 121 EUROPE: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 161
TABLE 122 EUROPE: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 162
TABLE 123 EUROPE: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 162
12.4.2 UK 162
12.4.2.1 Inclination among younger consumers toward healthy, vegan products to propel market 162
TABLE 124 UK: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 163
TABLE 125 UK: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 163
12.4.3 GERMANY 164
12.4.3.1 Growth in vegetarianism to drive market 164
FIGURE 54 GERMANY: PLANT-BASED FOOD SALES, BY APPLICATION, 2022 (USD MILLION) 164
TABLE 126 GERMANY: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 164
TABLE 127 GERMANY: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 165
12.4.4 ITALY 165
12.4.4.1 High consumption of cheese in Italian cuisine to spur growth 165
FIGURE 55 ITALY: PLANT-BASED CHEESE SALES, 2020-2022 (USD MILLION) 165
TABLE 128 ITALY: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 166
TABLE 129 ITALY: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 166
12.4.5 FRANCE 166
12.4.5.1 Dairy giants expanding to provide alternatives to boost growth 166
FIGURE 56 FRANCE: PLANT-BASED MILK SALES, 2021-2022 (USD MILLION) 167
TABLE 130 FRANCE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 167
TABLE 131 FRANCE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 168
12.4.6 SPAIN 168
12.4.6.1 Demand for dairy replacements and expansion of supermarket vegetarian and vegan lines to bolster growth 168
TABLE 132 SPAIN: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 168
TABLE 133 SPAIN: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 169
12.4.7 REST OF EUROPE 169
TABLE 134 REST OF EUROPE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 169
TABLE 135 REST OF EUROPE: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 170
12.5 ASIA PACIFIC 170
FIGURE 57 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET SNAPSHOT 171
12.5.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 171
FIGURE 58 ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2017-2022 172
FIGURE 59 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, RECESSION IMPACT ANALYSIS, 2023 173
TABLE 136 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2018-2022 (USD MILLION) 173
TABLE 137 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 173
TABLE 138 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 174
TABLE 139 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 174
TABLE 140 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 174
TABLE 141 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 175
TABLE 142 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 175
TABLE 143 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 175
TABLE 144 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 176
TABLE 145 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 176
TABLE 146 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 176
TABLE 147 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 177
TABLE 148 ASIA PACIFIC: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 177
TABLE 149 ASIA PACIFIC: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 177
12.5.2 CHINA 178
12.5.2.1 Adoption of soy-derived dairy alternatives in various Chinese cuisines to drive growth 178
TABLE 150 CHINA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 179
TABLE 151 CHINA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 179
12.5.3 JAPAN 179
12.5.3.1 Scope for high-protein healthy products in traditional recipes to boost growth 179
TABLE 152 JAPAN: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 180
TABLE 153 JAPAN: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 181
12.5.4 AUSTRALIA & NEW ZEALAND 181
12.5.4.1 Consumer interest in paying premium for fitness products to propel market 181
TABLE 154 AUSTRALIA & NEW ZEALAND: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 182
TABLE 155 AUSTRALIA & NEW ZEALAND: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 182
12.5.5 INDIA 182
12.5.5.1 Growth in demand for dairy-free substitutes in traditional sweets to boost market 182
TABLE 156 INDIA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 183
TABLE 157 INDIA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 183
12.5.6 REST OF ASIA PACIFIC 184
TABLE 158 REST OF ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 184
TABLE 159 REST OF ASIA PACIFIC: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 185
12.6 SOUTH AMERICA 185
12.6.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 186
FIGURE 60 SOUTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2017-2022 187
FIGURE 61 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, RECESSION IMPACT ANALYSIS, 2023 187
TABLE 160 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2018-2022 (USD MILLION) 187
TABLE 161 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY COUNTRY, 2023-2028 (USD MILLION) 188
TABLE 162 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 188
TABLE 163 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 188
TABLE 164 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 189
TABLE 165 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 189
TABLE 166 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 189
TABLE 167 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 190
TABLE 168 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 190
TABLE 169 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 191
TABLE 170 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 191
TABLE 171 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 191
TABLE 172 SOUTH AMERICA: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 192
TABLE 173 SOUTH AMERICA: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 192
12.6.2 BRAZIL 192
12.6.2.1 Demand for soy-based clean label products to drive market 192
TABLE 174 BRAZIL: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 193
TABLE 175 BRAZIL: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 193
12.6.3 ARGENTINA 194
12.6.3.1 Production of soy to help meet vegan, gluten-and fat-free demands 194
TABLE 176 ARGENTINA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 194
TABLE 177 ARGENTINA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 195
12.6.4 REST OF SOUTH AMERICA 195
TABLE 178 REST OF SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 195
TABLE 179 REST OF SOUTH AMERICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 196
12.7 REST OF THE WORLD (ROW) 196
12.7.1 ROW: RECESSION IMPACT ANALYSIS 196
FIGURE 62 ROW: INFLATION RATES, BY KEY REGION, 2017-2022 197
FIGURE 63 ROW: DAIRY ALTERNATIVE MARKET, RECESSION IMPACT ANALYSIS, 2023 197
TABLE 180 ROW: DAIRY ALTERNATIVES MARKET, BY REGION, 2018-2022 (USD MILLION) 198
TABLE 181 ROW: DAIRY ALTERNATIVES MARKET, BY REGION, 2023-2028 (USD MILLION) 198
TABLE 182 ROW: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 198
TABLE 183 ROW: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 199
TABLE 184 ROW: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2018-2022 (USD MILLION) 199
TABLE 185 ROW: DAIRY ALTERNATIVES MARKET, BY FORMULATION, 2023-2028 (USD MILLION) 199
TABLE 186 ROW: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (USD MILLION) 200
TABLE 187 ROW: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (USD MILLION) 200
TABLE 188 ROW: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2018-2022 (MILLION LITERS) 200
TABLE 189 ROW: DAIRY ALTERNATIVES MARKET, BY APPLICATION, 2023-2028 (MILLION LITERS) 201
TABLE 190 ROW: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2018-2022 (USD MILLION) 201
TABLE 191 ROW: DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL, 2023-2028 (USD MILLION) 201
TABLE 192 ROW: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2018-2022 (USD MILLION) 202
TABLE 193 ROW: RETAIL DISTRIBUTION CHANNEL MARKET, BY SUBTYPE, 2023-2028 (USD MILLION) 202
12.7.2 MIDDLE EAST 202
12.7.2.1 High demand for lactose-free and low-cholesterol products to boost growth 202
TABLE 194 MIDDLE EAST: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 203
TABLE 195 MIDDLE EAST: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 203
12.7.3 AFRICA 203
12.7.3.1 Rise in urbanization and growth in retail chains to drive market demand 203
TABLE 196 AFRICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2018-2022 (USD MILLION) 204
TABLE 197 AFRICA: DAIRY ALTERNATIVES MARKET, BY SOURCE, 2023-2028 (USD MILLION) 204
13 COMPETITIVE LANDSCAPE 205
13.1 OVERVIEW 205
13.2 MARKET SHARE ANALYSIS 205
TABLE 198 DAIRY ALTERNATIVES MARKET: DEGREE OF COMPETITION 206
13.3 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS 206
FIGURE 64 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS, 2018-2022 (USD BILLION) 206
13.4 ANNUAL REVENUE VS. GROWTH OF KEY PLAYERS 207
FIGURE 65 ANNUAL REVENUE, 2022 (USD BILLION) VS. REVENUE GROWTH, 2020-2022 207
13.5 EBITDA OF KEY PLAYERS 208
FIGURE 66 EBITDA, 2022 (USD BILLION) 208
13.6 STRATEGIES ADOPTED BY KEY PLAYERS 208
TABLE 199 STRATEGIES ADOPTED BY KEY PLAYERS 208
13.7 COMPANY EVALUATION MATRIX FOR KEY PLAYERS 210
13.7.1 STARS 210
13.7.2 EMERGING LEADERS 210
13.7.3 PERVASIVE PLAYERS 210
13.7.4 PARTICIPANTS 211
FIGURE 67 COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2022 211
13.7.5 KEY COMPANY FOOTPRINT 212
TABLE 200 KEY COMPANY FOOTPRINT, BY FORMULATION 212
TABLE 201 KEY COMPANY FOOTPRINT, BY SOURCE 212
TABLE 202 KEY COMPANY FOOTPRINT, BY APPLICATION 213
TABLE 203 KEY COMPANY FOOTPRINT, BY REGION 214
TABLE 204 OVERALL KEY COMPANY FOOTPRINT 215
13.8 COMPANY EVALUATION QUADRANT FOR STARTUPS/SMES 215
13.8.1 PROGRESSIVE COMPANIES 215
13.8.2 STARTING BLOCKS 216
13.8.3 RESPONSIVE COMPANIES 216
13.8.4 DYNAMIC COMPANIES 216
FIGURE 68 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES, 2022 216
13.8.5 COMPETITIVE BENCHMARKING OF STARTUPS/SMES 217
TABLE 205 LIST OF KEY STARTUPS/SMES 217
TABLE 206 COMPETITIVE BENCHMARKING OF STARTUPS/SMES 218
13.9 COMPETITIVE SCENARIO 219
13.9.1 PRODUCT LAUNCHES 219
TABLE 207 DAIRY ALTERNATIVES MARKET: PRODUCT LAUNCHES, 2020-2023 219
13.9.2 DEALS 220
TABLE 208 DAIRY ALTERNATIVES MARKET: DEALS, 2021 220
13.9.3 OTHERS 221
TABLE 209 DAIRY ALTERNATIVES MARKET: OTHERS, 2020-2023 221
14 COMPANY PROFILES 222
(Business overview, Products offered, Recent developments & MnM View)*
14.1 KEY PLAYERS 222
14.1.1 DANONE NORTH AMERICA PUBLIC BENEFIT CORPORATION 222
TABLE 210 DANONE NORTH AMERICA PUBLIC BENEFIT CORPORATION: BUSINESS OVERVIEW 222
FIGURE 69 DANONE NORTH AMERICA PUBLIC BENEFIT CORPORATION: COMPANY SNAPSHOT 223
TABLE 211 DANONE NORTH AMERICA PUBLIC BENEFIT CORPORATION: PRODUCTS OFFERED 224
TABLE 212 DANONE NORTH AMERICA PUBLIC BENEFIT CORPORATION: PRODUCT LAUNCHES 228
14.1.2 THE HAIN CELESTIAL GROUP, INC. 230
TABLE 213 THE HAIN CELESTIAL GROUP, INC.: BUSINESS OVERVIEW 230
FIGURE 70 THE HAIN CELESTIAL GROUP, INC.: COMPANY SNAPSHOT 231
TABLE 214 THE HAIN CELESTIAL GROUP, INC.: PRODUCTS OFFERED 231
14.1.3 BLUE DIAMOND GROWERS 234
TABLE 215 BLUE DIAMOND GROWERS: BUSINESS OVERVIEW 234
FIGURE 71 BLUE DIAMOND GROWERS: COMPANY SNAPSHOT 234
TABLE 216 BLUE DIAMOND GROWERS: PRODUCTS OFFERED 235
TABLE 217 BLUE DIAMOND GROWERS: PRODUCT LAUNCHES 236
14.1.4 SUNOPTA 237
TABLE 218 SUNOPTA: BUSINESS OVERVIEW 237
FIGURE 72 SUNOPTA: COMPANY SNAPSHOT 238
TABLE 219 SUNOPTA: PRODUCTS OFFERED 238
TABLE 220 SUNOPTA: DEALS 239
TABLE 221 SUNOPTA: PRODUCT LAUNCHES 239
TABLE 222 SUNOPTA: OTHERS 239
14.1.5 FREEDOM FOODS GROUP LIMITED 241
TABLE 223 FREEDOM FOODS GROUP LIMITED: BUSINESS OVERVIEW 241
FIGURE 73 FREEDOM FOODS GROUP LIMITED: COMPANY SNAPSHOT 242
TABLE 224 FREEDOM FOODS GROUP LIMITED: PRODUCTS OFFERED 242
14.1.6 VALSOIA S.P.A. 244
TABLE 225 VALSOIA S.P.A: BUSINESS OVERVIEW 244
FIGURE 74 VALSOIA SPA: COMPANY SNAPSHOT 245
TABLE 226 VALSOIA S.P.A: PRODUCTS OFFERED 245
14.1.7 OATLY GROUP AB 247
TABLE 227 OATLY GROUP AB: BUSINESS OVERVIEW 247
FIGURE 75 OATLY GROUP AB: COMPANY SNAPSHOT 247
TABLE 228 OATLY GROUP AB: PRODUCTS OFFERED 248
TABLE 229 OATLY GROUP AB: PRODUCT LAUNCHES 248
14.1.8 SANITARIUM 250
TABLE 230 SANITARIUM: BUSINESS OVERVIEW 250
TABLE 231 SANITARIUM: PRODUCTS OFFERED 250
14.1.9 EDEN FOODS, INC. 251
TABLE 232 EDEN FOODS, INC.: BUSINESS OVERVIEW 251
TABLE 233 EDEN FOODS, INC.: PRODUCTS OFFERED 251
14.1.10 NUTRIOPS, S.L. 252
TABLE 234 NUTRIOPS, S.L.: BUSINESS OVERVIEW 252
TABLE 235 NUTRIOPS, S.L.: PRODUCTS OFFERED 252
14.1.11 EARTH'S OWN 254
TABLE 236 EARTH'S OWN: BUSINESS OVERVIEW 254
TABLE 237 EARTH'S OWN: PRODUCTS OFFERED 254
14.1.12 TRIBALLAT NOYAL 256
TABLE 238 TRIBALLAT NOYAL: BUSINESS OVERVIEW 256
TABLE 239 TRIBALLAT NOYAL: PRODUCTS OFFERED 256
14.1.13 GREEN SPOT CO., LTD. 257
TABLE 240 GREEN SPOT CO., LTD.: BUSINESS OVERVIEW 257
TABLE 241 GREEN SPOT CO., LTD.: PRODUCTS OFFERED 257
14.1.14 HILAND DAIRY 258
TABLE 242 HILAND DAIRY: BUSINESS OVERVIEW 258
TABLE 243 HILAND DAIRY: PRODUCTS OFFERED 258
14.1.15 ELMHURST MILKED DIRECT LLC 259
TABLE 244 ELMHURST MILKED DIRECT LLC: BUSINESS OVERVIEW 259
TABLE 245 ELMHURST MILKED DIRECT LLC: PRODUCTS OFFERED 259
?
14.2 STARTUPS/SMES 260
14.2.1 RIPPLE FOODS 260
TABLE 246 RIPPLE FOODS: BUSINESS OVERVIEW 260
TABLE 247 RIPPLE FOODS: PRODUCTS OFFERED 261
14.2.2 KITE HILL 262
TABLE 248 KITE HILL: BUSINESS OVERVIEW 262
TABLE 249 KITE HILL: PRODUCTS OFFERED 262
TABLE 250 KITE HILL: PRODUCT LAUNCHES 263
14.2.3 RUDE HEALTH 264
TABLE 251 RUDE HEALTH: BUSINESS OVERVIEW 264
TABLE 252 RUDE HEALTH: PRODUCTS OFFERED 264
14.2.4 CALIFIA FARMS, LLC 266
TABLE 253 CALIFIA FARMS, LLC: BUSINESS OVERVIEW 266
TABLE 254 CALIFIA FARMS, LLC: PRODUCTS OFFERED 266
TABLE 255 CALIFIA FARMS, LLC: PRODUCT LAUNCHES 267
14.2.5 PANOS BRANDS 268
TABLE 256 PANOS BRANDS: BUSINESS OVERVIEW 268
TABLE 257 PANOS BRANDS: PRODUCTS OFFERED 268
14.2.6 PUREHARVEST 269
TABLE 258 PUREHARVEST: COMPANY OVERVIEW 269
14.2.7 ONE GOOD 270
TABLE 259 ONE GOOD: COMPANY OVERVIEW 270
14.2.8 VLY 270
TABLE 260 VLY: COMPANY OVERVIEW 270
14.2.9 MIYOKO'S CREAMERY 271
TABLE 261 MIYOKO'S CREAMERY: COMPANY OVERVIEW 271
14.2.10 DAIYA FOODS INC. 272
TABLE 262 DAIYA FOODS INC.: COMPANY OVERVIEW 272
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
15 ADJACENT AND RELATED MARKETS 273
15.1 INTRODUCTION 273
TABLE 263 MARKETS ADJACENT TO DAIRY ALTERNATIVES MARKET 273
15.2 RESEARCH LIMITATIONS 273
15.3 PLANT-BASED PROTEIN MARKET 273
15.3.1 MARKET DEFINITION 273
15.3.2 MARKET OVERVIEW 274
15.3.3 PLANT-BASED PROTEIN MARKET, BY SOURCE 274
TABLE 264 PLANT-BASED PROTEIN MARKET, BY SOURCE, 2018-2021 (USD MILLION) 274
TABLE 265 PLANT-BASED PROTEIN MARKET, BY SOURCE, 2022-2027 (USD MILLION) 275
15.3.4 PLANT-BASED PROTEIN MARKET, BY REGION 275
TABLE 266 PLANT-BASED PROTEIN MARKET, BY REGION, 2018-2021 (USD MILLION) 275
TABLE 267 PLANT-BASED PROTEIN MARKET, BY REGION, 2022-2027 (USD MILLION) 276
15.4 ALMOND INGREDIENTS MARKET 276
15.4.1 MARKET DEFINITION 276
15.4.2 MARKET OVERVIEW 276
15.4.3 ALMOND INGREDIENTS MARKET, BY TYPE 276
TABLE 268 ALMOND INGREDIENTS MARKET, BY TYPE, 2018-2025 (KT) 277
15.4.4 ALMOND INGREDIENTS MARKET, BY REGION 277
TABLE 269 ALMOND INGREDIENTS MARKET, BY REGION, 2018-2025 (KT) 277
TABLE 270 ALMOND INGREDIENTS MARKET, BY REGION, 2018-2025 (USD MILLION) 278
16 APPENDIX 279
16.1 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 285
16.2 CUSTOMIZATION OPTIONS 287
16.3 RELATED REPORTS 287
16.4 AUTHOR DETAILS 288
- Not Sure / Need Reassuring
- Confirm Content
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Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
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- Sample Pages
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With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
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- Check for Alternatives
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Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
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- Confirm Content
- Prices / Formats / Delivery
- Prices
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All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
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- Discounts
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As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
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- Available Currencies
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Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
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- Licenses
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License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
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- Global Site License
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The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
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- Formats
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The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
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- Delivery
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Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
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- Shipping Charges
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As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
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- Prices
- Ordering
- By Credit Card
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We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
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- By Money Transfer
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If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
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- By Credit Card
- Security
- Website security
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We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
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- Credit Card Security
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We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
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- Website security