Flavor Enhancer Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0196528
  • Format: Electronic (PDF)
  • Number of Pages: 195
  • Author(s): Joshi, Madhavi

Report Overview

The Flavor Enhancer Market size was estimated at USD 6.5 billion in 2023 and is projected to reach USD 9.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2024-2030).

Flavor Enhancer Market

(Market Size)
$6.5 billion
$9.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 5.80%
2023 Market Size USD 6.5 billion
2030 Market Size USD 9.5 billion
Key Players Ajinomoto, Kerry, Givaudan, International Flavors & Fragrances, Symrise

Market Summary

The flavor enhancer market is a dynamic segment within the global food and beverages industry, focused on ingredients that intensify, modify, or improve the taste and aroma of food products without contributing a significant flavor of their own. These additives are integral to processed food manufacturing, enabling brands to deliver consistent and appealing sensory experiences to consumers. The market is characterized by a diverse range of synthetic and natural products, including monosodium glutamate (MSG), yeast extracts, hydrolyzed vegetable proteins, and nucleotide-based enhancers. Demand is largely driven by the growing consumption of convenience foods, ready-to-eat meals, and savory snacks across both developed and emerging economies. Manufacturers are continuously engaged in research and development to create novel solutions that cater to the rising consumer preference for clean-label and natural ingredients. The competitive landscape is shaped by technological advancements in extraction and fermentation processes, alongside strategic initiatives from key players to expand their geographic footprint and application portfolios.

Key Highlights

The flavor enhancer market is distinguished by several pivotal factors that underscore its commercial significance. A primary highlight is the robust innovation in natural flavor enhancers, driven by consumer aversion to artificial additives. Ingredients like yeast extracts and mushroom powders are gaining substantial traction as they allow for sodium reduction while delivering umami characteristics. The market also exhibits a high degree of integration within the food supply chain, with major ingredient suppliers offering comprehensive solutions that include flavor masking and modulation alongside enhancement. The application in meat and poultry products represents a dominant segment due to the critical need for savory flavor profiles. Geographically, the Asia-Pacific region stands out as both a leading consumer and producer, influenced by traditional culinary practices that utilize such ingredients. Furthermore, the market is witnessing increased investment in biotechnology to develop sustainable and cost-effective production methods for high-quality enhancers, positioning it for continued evolution.

Drivers, Opportunities & Restraints

Growth in the flavor enhancer market is propelled by several key drivers. The expanding global population and rising disposable incomes, particularly in developing nations, are accelerating the demand for processed and packaged foods, which inherently rely on these additives for palatability. The fast-paced lifestyle of modern consumers further fuels the need for convenient food options with extended shelf life and consistent taste. A significant opportunity lies in the health and wellness trend, creating a demand for enhancers that can facilitate salt reduction and improve the nutritional profile of food without compromising on taste. The exploration of novel sources, such as plant-based and fermented ingredients, presents another avenue for market expansion. However, the market faces notable restraints. Stringent government regulations and labeling requirements concerning food additives in regions like North America and Europe can impede product launches. Furthermore, persistent negative consumer perception, particularly towards synthetic enhancers like MSG, coupled with a growing preference for whole and unprocessed foods, poses a challenge to market growth.

Concentration Insights

The global flavor enhancer market is moderately concentrated, with a mix of large multinational corporations and specialized ingredient suppliers dominating the competitive arena. A handful of established players, including Ajinomoto Co., Inc., Givaudan, International Flavors & Fragrances Inc. (IFF), Kerry Group, and Sensient Technologies, command a significant share of the market. These companies possess extensive research and development capabilities, broad product portfolios, and strong global distribution networks, allowing them to serve a diverse clientele. Their strategies often involve mergers, acquisitions, and partnerships to consolidate market position and gain access to new technologies or regional markets. Alongside these giants, numerous smaller and regional players compete by offering niche, customized, or cost-effective solutions, particularly in local markets. The concentration is also evident in specific product segments, such as the dominance of certain companies in nucleotide or yeast extract production. This structure fosters a competitive environment focused on innovation, quality, and strategic customer relationships.

Type Insights

The flavor enhancer market is segmented by type into various categories, each with distinct characteristics and applications. Monosodium glutamate (MSG) remains one of the most widely recognized and utilized synthetic enhancers, prized for its potent umami taste. However, its usage is often scrutinized, leading to increased demand for alternatives. Yeast extracts have emerged as a popular natural solution, offering a rich, savory flavor and often functioning as a salt replacer. Hydrolyzed vegetable proteins (HVP) provide meat-like flavors and are extensively used in soups, sauces, and snacks. Nucleotide-based enhancers, such as disodium inosinate and disodium guanylate, are frequently used in synergy with MSG to amplify its effect at lower concentrations. Other types include maltol and ethyl maltol, which enhance sweetness and fruit flavors in beverages and confectionery. The ongoing trend towards clean-label products is significantly influencing the development and adoption of natural type segments, steering innovation towards plant-derived and fermented options.

Application Insights

Flavor enhancers find widespread application across numerous categories within the food and beverage industry. The most prominent application is in savory foods, which includes segments like snacks, ready meals, soups, sauces, and dressings. In these products, enhancers are critical for developing and stabilizing the desired meaty, cheesy, or brothy notes. The meat and poultry processing industry is a major consumer, utilizing these additives to improve the taste of processed meats, sausages, and marinades. The beverage sector employs certain enhancers to round out and balance flavors in both alcoholic and non-alcoholic drinks. Furthermore, the dairy and frozen desserts category uses them to intensify creamy or sweet profiles. With the rapid growth of the plant-based food sector, flavor enhancers have become indispensable in mimicking the taste and mouthfeel of animal-derived products, making them a key ingredient in vegan and vegetarian alternatives. This broad applicability ensures consistent demand from various food manufacturing verticals.

Regional Insights

The demand and production of flavor enhancers exhibit distinct regional patterns influenced by dietary habits, economic development, and regulatory frameworks. The Asia-Pacific region is the largest and fastest-growing market, driven by high consumption in countries like China, Japan, and South Korea. The traditional use of ingredients like MSG and soy sauce in Asian cuisine provides a strong cultural foundation for market growth. North America and Europe represent mature markets characterized by a high degree of processed food consumption. However, these regions are also at the forefront of the clean-label movement, leading to a shift from synthetic to natural enhancers. Stringent regulatory policies in Europe, governed by bodies like the European Food Safety Authority (EFSA), shape product offerings. Latin America and the Middle East & Africa are emerging as promising markets, with growth fueled by urbanization, changing lifestyles, and the increasing penetration of international food brands, which drives the need for standardized flavor profiles.

Company Insights

The competitive landscape of the flavor enhancer market is defined by the strategies and strengths of its leading companies. Ajinomoto Co., Inc. is a global leader, renowned for its pioneering work in amino acids and its strong portfolio that includes MSG and nucleotides. The company's extensive production facilities and focus on health and wellness through its "Eat Well, Live Well" philosophy are key differentiators. Givaudan and International Flavors & Fragrances Inc. (IFF) are dominant players with comprehensive solutions that span the entire flavor spectrum, often offering enhancers as part of integrated systems. Kerry Group leverages its strong expertise in taste and nutrition to provide clean-label and natural enhancement solutions, focusing on sustainability. Sensient Technologies is known for its advanced coloring and flavoring technologies, including a range of enhancers. These companies compete intensely on the basis of product innovation, application expertise, global supply chain reliability, and the ability to form strategic partnerships with major food and beverage manufacturers worldwide.

Recent Developments

The flavor enhancer market has been active with significant recent developments reflecting broader industry trends. A prominent theme is the accelerated investment in research and development for natural and plant-based flavor enhancers. Companies are launching new products derived from sources like mushrooms, seaweed, and legumes to meet clean-label demand. There has been a notable surge in mergers and acquisitions aimed at portfolio diversification and geographic expansion. For instance, major ingredient firms have acquired smaller, specialized companies with expertise in natural extracts or fermentation technologies. Sustainability has also moved to the forefront, with initiatives focused on developing environmentally friendly production processes and sourcing raw materials responsibly. Furthermore, companies are increasingly utilizing digital tools and artificial intelligence in their R&D processes to predict flavor interactions and accelerate the development of new enhancer solutions, showcasing the market's adaptation to technological advancement.

Report Segmentation

This comprehensive market research report on the flavor enhancer industry provides a detailed analysis segmented across multiple dimensions to offer granular insights. The segmentation by type covers key categories such as monosodium glutamate (MSG), yeast extracts, hydrolyzed vegetable proteins (HVP), nucleotides, and others, analyzing the demand and growth prospects for each. The application segmentation delves into critical end-use sectors including snacks & convenience foods, meat & poultry products, soups, sauces, & dressings, beverages, dairy & frozen products, and others. Geographically, the report provides an in-depth analysis of major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, highlighting regional trends, key consuming countries, and regulatory landscapes. An additional segmentation may focus on the source, distinguishing between natural and synthetic enhancers. This multi-faceted segmentation allows stakeholders to identify precise growth pockets, understand application-specific dynamics, and formulate targeted strategies.

FAQs

What are flavor enhancers? Flavor enhancers are substances added to food to supplement, enhance, or modify its original taste and aroma without imparting a distinct flavor of their own. They work by stimulating taste receptors on the tongue, primarily those associated with the umami taste, to create a more rounded and satisfying sensory experience.

How do flavor enhancers work? Flavor enhancers primarily work by interacting with specific taste receptors. For example, compounds like monosodium glutamate (MSG) activate umami receptors, amplifying savory, meaty notes. Others can suppress undesirable bitter tastes or enhance the perception of sweetness or saltiness, allowing for a more balanced and pronounced overall flavor profile in food products.

What is the most common flavor enhancer? Monosodium glutamate (MSG) is historically the most common and widely used synthetic flavor enhancer globally. It is renowned for its potent ability to impart a strong umami taste. However, in recent years, natural alternatives like yeast extracts have gained significant popularity and are becoming very common, especially in markets with a strong clean-label preference.

Are flavor enhancers safe? Major regulatory bodies worldwide, including the U.S. FDA and the European Food Safety Authority (EFSA), have evaluated the safety of approved flavor enhancers and deemed them safe for consumption within prescribed limits. For instance, MSG is classified as "Generally Recognized As Safe" (GRAS). However, some individuals may report sensitivity to certain additives.

What is a natural flavor enhancer? A natural flavor enhancer is derived from plant, animal, or microbial sources through physical, enzymatic, or microbiological processes. Examples include yeast extracts from Saccharomyces cerevisiae, hydrolyzed vegetable proteins from soy or corn, and mushroom powder. These are favored in clean-label product formulations as alternatives to synthetic additives.

Citius Research has developed a research report titled “Flavor Enhancer Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Flavor Enhancer Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Flavor Enhancer Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Flavor Enhancer Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Flavor Enhancer Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Flavor Enhancer Market
• Research Methodology
• Executive Summary
• Market Dynamics of Flavor Enhancer Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Flavor Enhancer Market
• Cost and Gross Margin Analysis of Flavor Enhancer Market
• Flavor Enhancer Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Flavor Enhancer Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Flavor Enhancer Market Key Stakeholders

Below are the key stakeholders for the Flavor Enhancer Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Flavor Enhancer Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Flavor Enhancer Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Flavor Enhancer Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Flavor Enhancer Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Flavor Enhancer Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Flavor Enhancer Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Flavor Enhancer Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Flavor Enhancer Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Flavor Enhancer Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Flavor Enhancer Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Flavor Enhancer Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Flavor Enhancer Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Flavor Enhancer Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Flavor Enhancer Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Flavor Enhancer Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Flavor Enhancer Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Flavor Enhancer Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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