South Korea Dairy Alternatives Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 0.74 Billion |
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Market Size (2029) | USD 1.04 Billion |
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Largest Share by Distribution Channel | Off-Trade |
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CAGR (2024 - 2029) | 7.06 % |
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Fastest Growing by Distribution Channel | Off-Trade |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South Korea Dairy Alternatives Market Analysis
The South Korea Dairy Alternatives Market size is estimated at 0.74 billion USD in 2024, and is expected to reach 1.04 billion USD by 2029, growing at a CAGR of 7.06% during the forecast period (2024-2029).
0.74 Billion
Market Size in 2024 (USD)
1.04 Billion
Market Size in 2029 (USD)
8.49 %
CAGR (2017-2023)
7.06 %
CAGR (2024-2029)
Largest Market by Category
98.93 %
value share, Non-Dairy Milk, 2023
Growing investments in plant-based milk marketspace, an increasing vegan and vegetarian population, and nutritional benefits of plant-based milk, is drivng segmental growth.
Largest Market by Distribution Channel
97.49 %
value share, Off-Trade, 2023
The product assortment and shelf space in off-trade retail channels is allowing consumers to compare the products, which has emerged to be one of the major factor driving segmental growth.
Fastest-growing Market by Category
7.11 %
Projected CAGR, Non-Dairy Milk, 2024-2029
Emerging economies provide significant growth opportunities for plant-based milk manufacturers in the country anticipating the segment to be fastest growing duting the forecasted period.
Fastest-growing Market by Distribution Channel
7.11 %
Projected CAGR, Off-Trade, 2024-2029
The presence of market specified products with improved customised product offerings in off-trade retail channels like Specialist retailers is driving the market.
Leading Market Player
30.66 %
market share, Dr.Chung’s Food Co. Ltd, 2022
The availability of products in different packaging and sizes along with extensive distribution throughout the region is making Dr.Chung’s Food Co. Ltd, one of the leading players in the market.
Strong penetration of organized retail channels fueling the market growth
- The off-trade segment dominates the distribution channels of the South Korean dairy alternatives market. Among off-trade channels, supermarkets and hypermarkets occupied a significant value share of 41.69% in 2022. The proximity factor of these channels, especially in large and developed cities, provides them with the added advantage of influencing the consumer's decision to purchase from among the large variety of products available in the store. The omnichannel approach adopted by major supermarket and hypermarket retailers globally also drives the market for dairy alternatives.
- The sales value of dairy alternatives through on-trade channels across the country witnessed a growth rate of 6.05% in 2022 compared to 2021. Several fast-food restaurant chains, such as Starbucks, Papa John's, Subway, and Burger King, have started incorporating vegan food and beverage options in their menus. These QSRs utilized a large amount of vegan cheese, non-dairy butter, and plant-based milk, among others. The per capita consumption of dairy alternatives via on-trade grew by 11.83% during 2017-2022.
- In the off-trade segment, the specialist retailers sub-segment is expected to be the fastest-growing, projected to record a CAGR of 9.59% during the forecast period. Specialist stores allow consumers to choose various products within a specific category, such as vegan food or dairy products, across the same retail channel. This channel allows owners and employees to develop expertise and a reputation for knowledge and selection within the store's defined specialty. By type, plant-based milk holds the majority of share within the off-trade channel. In 2022, plant-based milk accounted for more than 98% of the value share.
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South Korea Dairy Alternatives Market Trends
Increasing health and environmental concerns, along with the availability of various plant-based alternatives, drive the consumption of dairy alternatives
- A plant-based diet, such as veganism and vegetarianism, is becoming a growing topic in South Korea. In 2021, around 2.5 million people in South Korea followed a vegan diet. This increased significantly in the past 2-3 years and is considered the major factor driving the consumption of dairy alternative products.
- The per capita consumption of nut-based food is estimated to increase during the forecast period. The key motivations for South Koreans to adapting plant-based products, including non-dairy butter, are health concerns followed by concern for animals or sustainability and food trends. Nuts and nut butter contribute significantly toward maintaining a healthy diet as nut butter contains natural, healthy fats that are good for the heart and help reduce the risk of type 2 diabetes. Also, in 2022, over 129 vegan restaurants in South Korea offered pure vegan options for their consumers.
- Plant-based milk is the largest consumed category among all dairy alternatives nationwide. Soy milk, almond milk, and oat milk are highly popular and collectively held a 94.71% share in the overall plant milk consumption in 2022. There is also an increasing prevalence of milk allergies driving demand for plant-based milk across the country. For example, soy milk is a rich source of vitamins, proteins, and potassium and has a lower calorie content than cow's milk. Due to its high nutrient content, it is considered an ideal substitute for dairy products.
- The South Korean population is choosing plant-based diets and lifestyles due to various factors ranging from ethical, political, environmental, religious, or economic reasons. Thus, the per capita consumption is expected to grow significantly during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Production of soybeans, hemp seeds, and nuts dominates the production of dairy alternatives
South Korea Dairy Alternatives Industry Overview
The South Korea Dairy Alternatives Market is moderately consolidated, with the top five companies occupying 64.42%. The major players in this market are Dr.Chung’s Food Co. Ltd, Maeil Co. Ltd, Namyang Dairy Products Co. Ltd, Otsuka Holdings Co. Ltd and Sahmyook Foods (sorted alphabetically).
South Korea Dairy Alternatives Market Leaders
Dr.Chung’s Food Co. Ltd
Maeil Co. Ltd
Namyang Dairy Products Co. Ltd
Otsuka Holdings Co. Ltd
Sahmyook Foods
Other important companies include Armored Fresh, Blue Diamond Growers, Califia Farms LLC, Hanmi Healthcare Inc..
*Disclaimer: Major Players sorted in alphabetical order.
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South Korea Dairy Alternatives Market News
- August 2022: The addition of the new Oat Barista Blend to Califia Farms' already well-liked Original and Unsweetened Almondmilk Barista Blends demonstrated the company's commitment to quality coffee while bolstering its relationships with both old and new coffee shops.
- April 2022: Califia Farms launched unsweetened oat milk designed for at-home consumption. It can be purchased through natural, specialty, and grocery retailers.
- December 2021: Sahmyook Foods signed an MOU with Sahmyook University for "Sahmyook Food Research Consultation Center" to enhance its R&D activities.
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We provide a comprehensive and exhaustive set of data pointers for global, regional, and country-level metrics that illustrate the fundamentals of the dairy alternatives industry. With the help of 45+ free charts, clients can access in-depth market analysis based on per capita consumption numbers and production data of raw materials for dairy alternatives, through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on dairy alternative products, categories of dairy alternative products, product types, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
South Korea Dairy Alternatives Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Per Capita Consumption
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4.2 Raw Material/commodity Production
- 4.2.1 Dairy Alternative - Raw Material Production
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4.3 Regulatory Framework
- 4.3.1 South Korea
- 4.4 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Category
- 5.1.1 Non-Dairy Butter
- 5.1.2 Non-Dairy Milk
- 5.1.2.1 By Product Type
- 5.1.2.1.1 Almond Milk
- 5.1.2.1.2 Cashew Milk
- 5.1.2.1.3 Coconut Milk
- 5.1.2.1.4 Oat Milk
- 5.1.2.1.5 Soy Milk
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5.2 Distribution Channel
- 5.2.1 Off-Trade
- 5.2.1.1 Convenience Stores
- 5.2.1.2 Online Retail
- 5.2.1.3 Specialist Retailers
- 5.2.1.4 Supermarkets and Hypermarkets
- 5.2.1.5 Others (Warehouse clubs, gas stations, etc.)
- 5.2.2 On-Trade
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Armored Fresh
- 6.4.2 Blue Diamond Growers
- 6.4.3 Califia Farms LLC
- 6.4.4 Dr.Chung’s Food Co. Ltd
- 6.4.5 Hanmi Healthcare Inc.
- 6.4.6 Maeil Co. Ltd
- 6.4.7 Namyang Dairy Products Co. Ltd
- 6.4.8 Otsuka Holdings Co. Ltd
- 6.4.9 Sahmyook Foods
7. KEY STRATEGIC QUESTIONS FOR DAIRY AND DAIRY ALTERNATIVE CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- PER CAPITA CONSUMPTION OF DAIRY ALTERNATIVES, KG, SOUTH KOREA, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF SOUTH KOREA DAIRY ALTERNATIVES MARKET - RAW MATERIAL, METRIC TONNES, SOUTH KOREA, 2017 - 2021
- Figure 3:
- VOLUME OF DAIRY ALTERNATIVES, METRIC TONNES, BY SOUTH KOREA, 2017 - 2029
- Figure 4:
- VALUE OF DAIRY ALTERNATIVES, USD MN, BY SOUTH KOREA, 2017 - 2029
- Figure 5:
- VOLUME OF DAIRY ALTERNATIVES MARKET BY CATEGORY, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 6:
- VALUE OF DAIRY ALTERNATIVES MARKET BY CATEGORY, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 7:
- VOLUME SHARE OF DAIRY ALTERNATIVES MARKET, BY CATEGORY , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 8:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, BY CATEGORY , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 9:
- VOLUME OF NON-DAIRY BUTTER MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 10:
- VALUE OF NON-DAIRY BUTTER MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 11:
- VALUE SHARE OF NON-DAIRY BUTTER MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 12:
- VOLUME OF NON-DAIRY MILK MARKET BY PRODUCT TYPE, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 13:
- VALUE OF NON-DAIRY MILK MARKET BY PRODUCT TYPE, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 14:
- VOLUME SHARE OF NON-DAIRY MILK MARKET BY PRODUCT TYPE, %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 15:
- VALUE SHARE OF NON-DAIRY MILK MARKET BY PRODUCT TYPE, %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 16:
- VOLUME OF ALMOND MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 17:
- VALUE OF ALMOND MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 18:
- VALUE SHARE OF ALMOND MILK MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 19:
- VOLUME OF CASHEW MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 20:
- VALUE OF CASHEW MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 21:
- VALUE SHARE OF CASHEW MILK MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 22:
- VOLUME OF COCONUT MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 23:
- VALUE OF COCONUT MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 24:
- VALUE SHARE OF COCONUT MILK MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 25:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 26:
- VALUE OF OAT MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 27:
- VALUE SHARE OF OAT MILK MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 28:
- VOLUME OF SOY MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 29:
- VALUE OF SOY MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 30:
- VALUE SHARE OF SOY MILK MARKET, BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 31:
- VOLUME OF DAIRY ALTERNATIVES MARKET BY DISTRIBUTION CHANNEL, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 32:
- VALUE OF DAIRY ALTERNATIVES MARKET BY DISTRIBUTION CHANNEL, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 33:
- VOLUME SHARE OF DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 34:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 35:
- VOLUME OF DAIRY ALTERNATIVES MARKET BY SUB DISTRIBUTION CHANNELS, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 36:
- VALUE OF DAIRY ALTERNATIVES MARKET BY SUB DISTRIBUTION CHANNELS, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 37:
- VOLUME SHARE OF DAIRY ALTERNATIVES MARKET, BY SUB DISTRIBUTION CHANNELS , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 38:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, BY SUB DISTRIBUTION CHANNELS , %, SOUTH KOREA, 2017 VS 2023 VS 2029
- Figure 39:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA CONVENIENCE STORES, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 40:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA CONVENIENCE STORES, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 41:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA CONVENIENCE STORES, BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 42:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA ONLINE RETAIL, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 43:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA ONLINE RETAIL, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 44:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA ONLINE RETAIL, BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 45:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA SPECIALIST RETAILERS, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 46:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA SPECIALIST RETAILERS, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 47:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA SPECIALIST RETAILERS, BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 48:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 49:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 50:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA SUPERMARKETS AND HYPERMARKETS, BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 51:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA OTHERS (WAREHOUSE CLUBS, GAS STATIONS, ETC.), METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 52:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA OTHERS (WAREHOUSE CLUBS, GAS STATIONS, ETC.), USD MN, SOUTH KOREA, 2017 - 2029
- Figure 53:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA OTHERS (WAREHOUSE CLUBS, GAS STATIONS, ETC.), BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 54:
- VOLUME OF DAIRY ALTERNATIVES MARKET SOLD VIA ON-TRADE, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 55:
- VALUE OF DAIRY ALTERNATIVES MARKET SOLD VIA ON-TRADE, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 56:
- VALUE SHARE OF DAIRY ALTERNATIVES MARKET, SOLD VIA ON-TRADE, BY CATEGORY , %, SOUTH KOREA, 2022 VS 2029
- Figure 57:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, SOUTH KOREA, 2017 - 2029
- Figure 58:
- MOST ADOPTED STRATEGIES, COUNT, SOUTH KOREA, 2017 - 2029
- Figure 59:
- VALUE SHARE OF MAJOR PLAYERS, %, SOUTH KOREA, 2022
South Korea Dairy Alternatives Industry Segmentation
Non-Dairy Butter, Non-Dairy Milk are covered as segments by Category. Off-Trade, On-Trade are covered as segments by Distribution Channel.
- The off-trade segment dominates the distribution channels of the South Korean dairy alternatives market. Among off-trade channels, supermarkets and hypermarkets occupied a significant value share of 41.69% in 2022. The proximity factor of these channels, especially in large and developed cities, provides them with the added advantage of influencing the consumer's decision to purchase from among the large variety of products available in the store. The omnichannel approach adopted by major supermarket and hypermarket retailers globally also drives the market for dairy alternatives.
- The sales value of dairy alternatives through on-trade channels across the country witnessed a growth rate of 6.05% in 2022 compared to 2021. Several fast-food restaurant chains, such as Starbucks, Papa John's, Subway, and Burger King, have started incorporating vegan food and beverage options in their menus. These QSRs utilized a large amount of vegan cheese, non-dairy butter, and plant-based milk, among others. The per capita consumption of dairy alternatives via on-trade grew by 11.83% during 2017-2022.
- In the off-trade segment, the specialist retailers sub-segment is expected to be the fastest-growing, projected to record a CAGR of 9.59% during the forecast period. Specialist stores allow consumers to choose various products within a specific category, such as vegan food or dairy products, across the same retail channel. This channel allows owners and employees to develop expertise and a reputation for knowledge and selection within the store's defined specialty. By type, plant-based milk holds the majority of share within the off-trade channel. In 2022, plant-based milk accounted for more than 98% of the value share.
| Category | Non-Dairy Butter | ||
| Non-Dairy Milk | By Product Type | Almond Milk | |
| Cashew Milk | |||
| Coconut Milk | |||
| Oat Milk | |||
| Soy Milk | |||
| Distribution Channel | Off-Trade | Convenience Stores | |
| Online Retail | |||
| Specialist Retailers | |||
| Supermarkets and Hypermarkets | |||
| Others (Warehouse clubs, gas stations, etc.) | |||
| Distribution Channel | On-Trade |
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Market Definition
- Dairy Alternatives - Dairy alternatives are foods that are made from plant-based milk/oils instead of their usual animal products, such as cheese, butter, milk, ice cream, yogurt, etc. Plant-based or non-dairy milk alternative is the fast-growing segment in the newer food product development category of functional and specialty beverage across the globe.
- Non-Dairy Butter - Non dairy butter is a vegan butter alternative that is made from a mixture of plant oils. With an increase in alternative diets like vegetarianism, veganism, and gluten intolerance, plant butter is a healthy non-dairy substitute for normal butter.
- Non-Dairy Ice Cream - Plant based ice cream is a growing category. Non-dairy ice cream is a type of dessert made without any animal ingredients. This is typically considered a substitute for regular ice cream for those who cannot or do not eat animal or animal-derived products, including eggs, milk, cream, or honey.
- Plant-Based Milk - Plant based milks are milk substitutes that are made from nuts (e.g., hazelnuts, hemp seeds), seeds (e.g., sesame, walnuts, coconuts, cashews, almonds, rice, oats, etc.) or legumes (e.g., soy). Plant-based milk such as soy milk and almond milk have been popular in East Asia and the Middle East for centuries.
| Keyword | Definition |
|---|---|
| Cultured Butter | Cultured butter is prepared by having the raw butter go through chemical processing and has been added with certain emulsifiers and foreign ingredients. |
| Uncultured Butter | This type of butter is one which has not been processed in any way |
| Natural Cheese | The type of cheese in its most natural form. It is made from natural and simple products and ingredients, including fresh and natural salts, natural colors, enzymes, and high-quality milk. |
| Processed Cheese | Processed cheese undergoes the same processes as natural cheese; however, it requires more steps and many different forms of ingredients. Making processed cheese involves melting natural cheese, emulsifying it, and adding preservatives and other artificial ingredients or colorings. |
| Single Cream | Single cream contains around 18% fat. It’s a single layer of cream that appears over boiled milk. |
| Double Cream | Double cream contains 48% fat, more than double the amount of fat of single cream. It’s heavier and thicker than single cream |
| Whipping Cream | This has a much higher fat percentage than single cream (36%). Used to top cakes, pies, and puddings and as a thickener for sauces, soups, and fillings. |
| Frozen Desserts | Desserts that are meant to be eaten in frozen condition. E.g., sherbets, sorbets, frozen yogurts |
| UHT Milk (Ultra-high temperature milk) | Milk heated at a very high temperature. Ultra-high-temperature processing (UHT) of milk involves heating for 1–8 sec at 135–154°C. which kills the spore-forming pathogenic microorganism, resulting in a product with a shelf-life of several months. |
| Non-dairy butter/Plant-based butter | Butter made from plant-derived oil such as coconut, palm, etc. |
| Non-dairy Yogurt | Yogurt made from typically made from nuts, like almonds, cashews, coconuts, and even other foods like soybeans, plantains, oats, and peas |
| On-trade | It refers to restaurants, QSRs, and bars. |
| Off-trade | It refers to supermarkets, hypermarkets, on-line channels, etc. |
| Neufchatel cheese | One of the oldest kinds of cheese in France. It is a soft, slightly crumbly, mold-ripened, bloomy-rind cheese made in the Neufchâtel-en-Bray region of Normandy. |
| Flexitarian | It refers to a consumer preferring a semi-vegetarian diet, that is centered on plant foods with limited or occasional inclusion of meat. |
| Lactose Intolerance | Lactose intolerance is a reaction in digestive system to lactose, the sugar in milk. It causes uncomfortable symptoms in response to the consumption of dairy products. |
| Cream Cheese | Cream cheese is a soft and creamy fresh cheese with a tangy taste made from milk and cream. |
| Sorbets | Sorbet is a frozen dessert made using ice combined with fruit juice, fruit purée, or other ingredients, such as wine, liqueur, or honey. |
| Sherbet | Sherbet is a sweetened frozen dessert made with fruit and some sort of dairy product such as milk or cream. |
| Shelf stable | Foods that can be safely stored at room temperature, or "on the shelf," for at least one year and do not have to be cooked or refrigerated to eat safely. |
| DSD | Direct Store Delivery is the process in supply chain management wherein the product is delivered from manufacturing plant directly to the retailer. |
| OU Kosher | Orthodox Union Kosher is a kosher certification agency based in New York City. |
| Gelato | Gelato is a frozen creamy dessert made with milk, heavy cream and sugar. |
| Grass-fed Cows | Grass-fed cows are allowed to graze in pastures, where they eat a variety of grasses and clover. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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