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Non-Dairy Yogurt Market Size & Share to Surpass $7 Billion by 2030 | Vantage Market Research

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WASHINGTON, Aug. 14, 2023 (GLOBE NEWSWIRE) — The Non-Dairy Yogurt Market is valued at USD 2.8 Billion in 2022 and is expected to reach USD 7 Billion by 2030 at a CAGR of 14.1% over the forecast period 2023-2030.

The Non-Dairy Yogurt industry is expanding exponentially due to the growing vegan culture and the demand for plant-based yogurt to replace dairy products. Due to rising environmental concerns, the health advantages of plant-based protein, and the business potential for plant-based yogurt, which is expanding globally. Additional factors driving the growth of the vegan yogurt market include the rising number of people who are lactose intolerant, particularly in the European and Asian regions, and rising consumer spending on plant-based goods like flax seed yogurt or yogurts made with hemp milk.

There is ample market opportunity due to the rise in lactose intolerance, which affects about 20% of the world’s population. As customers become more conscious of the adverse effects of dairy production on the environment, they are looking for plant-based substitutes. The popularity of vegan and vegetarian diets and a greater emphasis on health and well-being have also increased the demand for Non-Dairy Yogurt.

The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for Non-Dairy Yogurt, including rising investment requirements, and developing technology.

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Market Overview
The market for Non-Dairy Yogurt has grown and changed significantly in recent years. Demand for Non-Dairy Yogurt has increased as customers become more health-conscious and aware of dietary limitations. The market is influenced by lactose intolerance, veganism, vegetarianism, and rising demand for plant-based substitutes. Various choices from plant-based components, including soy, almond, coconut, and oat milk, are available in the Non-Dairy Yogurt market, offering a creamy and tasty substitute for regular yogurt made with dairy.

The industry is represented by diverse players, including long-established dairy corporations expanding their product ranges and smaller, specialized brands concentrating entirely on non-dairy goods. The market environment is competitive, and businesses are working hard to differentiate themselves through new product development, distinctive flavors, and packaging. Consumers are increasingly looking for yogurt options made from natural and organic ingredients, devoid of artificial additives and preservatives, and there is a rising emphasis on clean-label products. The market is anticipated to maintain its growth trajectory and give consumers even more options to match their dietary preferences and health demands. This is because more Non-Dairy Yogurt products and more varieties of those products are available.

North America is the largest region in the Non-Dairy Yogurt Market, accounting for the most significant global market share. This is due to the growing interest in plant-based diets and the increasing consumer awareness about the health benefits of non-dairy products, such as soy, almond, and coconut yogurt. Many consumers are embracing Non-Dairy Yogurt as a healthier alternative to traditional dairy yogurt, which has led to a rise in demand for these products in North America.

Top Players in the Global Non-Dairy Yogurt Market

  • The Hain Celestial Group Inc. (U.S.)
  • Danone SA (France)
  • Nestle SA (Switzerland)
  • Chobani LLC (U.S.)
  • Forager Project LLC (U.S.)
  • Valio Ltd. (Finland)
  • Stonyfield Farm Inc. (U.S.)
  • Daiya Foods Inc. (Canada)
  • Springfield Creamery Inc. (U.S.)
  • The Coconut Collaborative (UK)
  • COYO Pty Ltd. (Australia)
  • GT’s Living Foods LLC (U.S.)

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Market Dynamics

Rising Health Awareness to Drive the Market
People are becoming more aware of their eating choices and looking for healthier alternatives as personal well-being is given greater attention. With its alleged health advantages, such as being lactose-free, lower in saturated fats, and frequently fortified with important nutrients, Non-Dairy Yogurt is becoming increasingly well-liked as a healthy choice. Customers are actively looking for goods supporting their health objectives, whether related to gut health, weight control, or overall wellness. Non-Dairy Yogurt is in high demand due to rising health consciousness, which has prompted manufacturers to develop and offer a variety of alternatives that satisfy a range of dietary preferences and nutritional requirements.

Increased veganism and lactose intolerance among consumers to Promote Market Growth
The popularity of vegan and vegetarian diets has significantly increased the demand for Non-Dairy Yogurt. The incidence of lactose intolerance and dairy allergy has also raised the demand for Non-Dairy Yogurt. A significant percentage of the world’s population suffers from lactose intolerance, which prompts people to look for dairy-free options like Non-Dairy Yogurt. More customers are actively choosing non-dairy products as they become more conscious of lactose sensitivity to avoid gastrointestinal pain and live a healthy lifestyle. Due to this shift in customer behavior, manufacturers of Non-Dairy Yogurt are responding with inventive plant-based substitutes that offer the same creamy texture and flavor as conventional yogurt but without lactose. The Non-Dairy Yogurt industry has expanded due to the market dynamics of rising lactose intolerance, and this trend is anticipated to continue as more people prioritize their digestive well-being and choose lactose-free options.   

High price of plant-based products compared to traditional dairy products
Non-Dairy Yogurt has a high price tag for several reasons, including production costs, the sourcing of the ingredients, and the need for large-scale economies of scale; Non-Dairy Yogurt made from plant-based components like soy, almond, or coconut frequently has a higher price tag. Some consumers may need help to switch to non-dairy alternatives due to the price discrepancy. However, economies of scale and improvements in production methods may assist in cutting prices and closing the price differential as the market expands and demand rises. In addition, many consumers may excuse the greater cost of Non-Dairy Yogurt by citing purported health advantages and ethical issues, leading them to move despite the price difference.

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Top Trends in Global Non-Dairy Yogurt Market

  • One trend that Vantage Market Research (VMR) expects to see in the Non-Dairy Yogurt industry is the increasing demand for luxury and artisanal Non-Dairy Yogurt options. These products usually emphasize authentic flavor, high-quality ingredients, and small-batch production procedures. Customers seeking a more unique and gourmet experience usually purchase artisanal Non-Dairy Yogurts at specialty stores.
  • Another trend that VMR predicts will continue in the Non-Dairy Yogurt industry is probiotics, beneficial microorganisms that promote gut health and are added to Non-Dairy Yogurts more frequently. Manufacturers are adding specialized probiotic strains to their goods to enhance the health of the digestive tract. Consumer interest in overall well-being and the gut-brain axis is growing simultaneously with this pattern.
  • Plant-based options and traditional ingredients like soy and almond are gaining popularity in the Non-Dairy Yogurt market. Manufacturers are increasingly looking into novel components like oats, coconuts, cashews, hemp, flax, and vegetables like sweet potatoes and pumpkin. Consumers can access more selections and flavors because of the range of plant-based alternatives.

Top Report Findings

  • Based on Product Type, Soy Based yogurt dominates the market. Yogurts made from soy are an excellent source of protein compared to yogurts made from dairy, and they also aid in lowering cholesterol and managing blood sugar levels.
  • Based on Type, Regular Non-Dairy Yogurt will dominate the market during the forecast period. Regular Non-Dairy Yogurt satisfies nutritional needs and tastes while providing consumers with the familiar flavor and texture of traditional yogurt as the demand for non-dairy substitutes rises. Regular Non-Dairy Yogurt offers a similar experience to dairy-based yogurt without the lactose or substances sourced from animals because of improvements in plant-based ingredients and manufacturing methods.
  • Based on the Distribution channels, supermarkets dominate the market. The category dominates the market due to big companies increasing their investment in this segment. It is also a one-stop shopping experience, so there is a rising demand for convenience food items. The market is expanding due to the simple access to various flavors and reliability in supermarkets.

Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Non-Dairy Yogurt Market Forecast Report (2023-2030).              

The Soy-Based Non-Dairy Yogurt Segment Contributed the Highest Revenue Due to its Widespread Availability, Recognized Health Benefits, and Diverse Flavour Options
This Non-Dairy Yogurt market area includes Non-Dairy Yogurt items primarily produced using soy milk. The smooth, creamy texture of soy-based Non-Dairy Yogurts has helped them become more well-liked because it resembles typical dairy yogurt. Furthermore, soy-based alternatives frequently provide a good supply of protein and other elements. The significant revenue share of the segment demonstrates the significant customer demand for yogurts made from soy as a healthy and practical dairy substitute.

Regarding market dynamics, several reasons contribute to the dominance of the soy-based Non-Dairy Yogurt segment. Soy is one of the most accessible and commonly grown crops in the world, resulting in a consistent supply of soy milk for the manufacture of Non-Dairy Yogurt. Second, soy-based products have gained popularity due to their potential health advantages, which include supporting bone health and lowering cholesterol. As a result, Non-Dairy Yogurts made from soy are popular among consumers concerned about their health. Last but not least, soy’s adaptability enables the development of various flavours and styles that appeal to various consumer preferences and increase the segment’s selection.

Future projections indicate that the market for soy-based Non-Dairy Yogurt will continue to rise as customer demand for such products increases. It is important to remember that as other plant-based components like almond, coconut, and oat gain popularity, the market environment may change, providing additional options and undermining the soy-based industry’s dominance. However, as of 2022, the Soy-Based Non-Dairy Yoghurt segment will continue to play a significant role in driving the Non-Dairy Yogurt market due to the high consumer acceptance and desire for this specific product category.
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Global Non-Dairy Yogurt Market Segmentation

By Product Type

  • Almond yogurt
  • Soy yogurt
  • Coconut yogurt
  • Oat yogurt
  • Other Product Types

By Type

  • Regular
  • Flavoured

By Distribution Channel

  • Supermarkets
  • Online Stores
  • Convenience Stores
  • Other Distribution Channels

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Scope of the Report:    

Report Attributes Details
Market Size in 2022 USD 2.8 Billion
Revenue Forecast by 2030 USD 7 Billion
CAGR 14.1% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players The Hain Celestial Group Inc., Danone SA, Nestle SA, Chobani LLC, Forager Project LLC, Valio Ltd., Stonyfield Farm Inc., Daiya Foods Inc., Springfield Creamery Inc., The Coconut Collaborative, COYO Pty Ltd., GT’s Living Foods LLC
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Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

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The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
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FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

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