Functional Chewing Gum 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: CR0197249
  • Format: Electronic (PDF)
  • Number of Pages: 197
  • Author(s): Joshi, Madhavi

Report Overview

The Functional Chewing Gum Market size was estimated at USD 3.5 billion in 2023 and is projected to reach USD 6.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024-2030).

Functional Chewing Gum Market

(Market Size)
$3.5 billion
$6.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.50%
2023 Market Size USD 3.5 billion
2030 Market Size USD 6.5 billion
Key Players Mars, Mondelez, Perfetti Van Melle

Market Summary

The functional chewing gum market represents a specialized and rapidly evolving segment within the broader food and beverages industry, distinguished by products that offer health benefits beyond basic nutrition. These gums are formulated with added ingredients designed to provide specific advantages, such as improved oral health, enhanced energy, stress relief, or vitamin supplementation. The market has gained significant traction as consumers increasingly seek convenient and enjoyable ways to incorporate wellness into their daily routines. This trend is driven by a global shift towards preventive healthcare and a growing awareness of the connection between diet and overall well-being. Manufacturers are continuously innovating, developing new flavors and functional properties to meet diverse consumer demands and differentiate their products in a competitive landscape. The market is characterized by the presence of both established confectionery giants and niche players focusing exclusively on functional benefits, all vying for market share through product development and strategic marketing.

Key Highlights

The functional chewing gum market is defined by several key trends that underscore its dynamic nature. A primary highlight is the strong consumer inclination towards products that support oral wellness, with sugar-free gums containing xylitol or other dental health ingredients representing a substantial portion of market offerings. Another significant trend is the rise of energy and focus-enhancing gums, which cater to students, professionals, and athletes seeking a quick and convenient cognitive or physical boost without the need for beverages or pills. The integration of vitamins, minerals, and other nutraceuticals into gum formulations is also a major development, effectively transforming a traditional confectionery item into a delivery system for dietary supplements. Sustainability concerns are increasingly influencing packaging decisions and ingredient sourcing, with brands exploring biodegradable materials and natural flavorings to appeal to environmentally conscious shoppers. Furthermore, strategic collaborations between gum manufacturers and pharmaceutical or nutraceutical companies are becoming more common, accelerating innovation and lending scientific credibility to product claims.

Drivers, Opportunities & Restraints

The growth of the functional chewing gum market is propelled by several powerful drivers. The increasing global health consciousness is a fundamental force, as consumers proactively seek out functional foods that offer tangible benefits. The convenience and portability of chewing gum make it an ideal format for on-the-go wellness, aligning perfectly with modern, fast-paced lifestyles. The expansion of distribution channels, particularly e-commerce and health-focused retail stores, has significantly improved product accessibility for a wider audience. Opportunities for market expansion are abundant, particularly in developing regions where disposable incomes are rising and awareness of functional foods is growing. There is also considerable potential for innovation in areas like gut health, sleep aid, and mood enhancement, presenting new avenues for product development. However, the market faces notable restraints, including stringent regulatory frameworks governing health claims on food products, which can delay product launches and increase compliance costs. The perception of chewing gum as a sugary, non-essential treat among some consumer segments also poses a challenge, as does the intense competition from other functional formats like gummies and lozenges.

Concentration Insights

The competitive landscape of the functional chewing gum market features a mix of large multinational corporations and specialized smaller firms. A high degree of concentration is observed, with a few key players holding significant market share due to their extensive distribution networks, strong brand recognition, and substantial resources for research and marketing. These major companies, such as Mars Incorporated, Mondelez International, and The Hershey Company, often leverage their existing confectionery infrastructure to develop and launch functional gum lines. Alongside these giants, there is a vibrant segment of niche and private-label manufacturers that focus exclusively on specific functional benefits, often emphasizing natural, organic, or novel ingredients to carve out a dedicated consumer base. This structure creates a competitive environment where scale provides advantages in mass-market reach, while agility and specialization allow smaller players to respond quickly to emerging trends and cater to specific health-conscious demographics.

Type Insights

The functional chewing gum market can be segmented by type based on the primary benefit offered to the consumer. Sugar-free chewing gums constitute a dominant category, primarily promoted for their oral health advantages, including cavity prevention, plaque reduction, and freshening breath through ingredients like xylitol and sorbitol. Energy and focus gums represent another major type, often infused with caffeine, B-vitamins, or other stimulants to provide a quick and convenient boost in alertness and concentration. Vitamin and mineral-fortified gums are designed to supplement dietary intake, offering essential nutrients like Vitamin C, Vitamin D, or Zinc in a palatable and easy-to-consume format. Stress relief and relaxation gums have emerged, incorporating ingredients such as L-Theanine, melatonin, or adaptogens to help manage anxiety and promote calmness. Furthermore, niche types addressing specific concerns like smoking cessation, utilizing nicotine replacement therapy, or appetite suppression continue to hold a dedicated market presence.

Application Insights

The application of functional chewing gum spans various consumer needs and retail environments. The largest application is in oral health maintenance, where these products are used daily by consumers as part of their hygiene routine, often after meals. They are widely available in supermarkets, drugstores, and convenience stores. In the sports and fitness application, gums are consumed for a rapid energy release or to enhance endurance and focus during physical activity, making them popular among athletes and gym-goers. The cognitive enhancement application sees use in academic and professional settings, where individuals chew gum to improve concentration, memory, and productivity during studying or long work hours. There is also a significant application in general wellness and preventive healthcare, where consumers use vitamin gums as a dietary supplement. Additionally, specialized applications persist, such as gums for motion sickness relief or for travelers seeking to maintain ear pressure during flights.

Regional Insights

The adoption and growth of functional chewing gum vary significantly across different geographic regions, influenced by cultural attitudes, economic development, and consumer awareness. North America and Europe are established, mature markets characterized by high consumer awareness of health and wellness trends, sophisticated retail landscapes, and a strong presence of leading manufacturers. These regions exhibit high demand for a wide range of functional gums, from oral care to energy boosting. The Asia-Pacific region is identified as the fastest-growing market, driven by a large population, rising disposable incomes, increasing urbanization, and a growing middle class that is becoming more health-conscious. Countries like China, Japan, and South Korea are particularly significant, with consumers readily adopting innovative functional foods. Latin America and the Middle East and Africa are emerging markets with considerable growth potential, though penetration is currently lower and often focused on urban centers where awareness and distribution channels are developing.

Company Insights

The functional chewing gum market is served by a diverse array of companies employing distinct strategies to secure their position. Major confectionery conglomerates like Mars Incorporated, with its Orbit and Extra brands, and Mondelez International, known for Trident, leverage their massive scale, brand loyalty, and global distribution to dominate the sugar-free and functional segments. Perfetti Van Melle, maker of Mentos and Airheads, also maintains a strong presence. Alongside these giants, companies such as The Hershey Company offer competitive products. A notable pure-play in the functional space is Neuro, which focuses specifically on gums for energy, relaxation, and focus. Other significant players include Zapp Gum, known for its caffeine gum, and LotFancy, which operates in private label manufacturing. These companies compete intensely on factors including product innovation, efficacy of functional claims, flavor profiles, brand marketing, and pricing strategies to capture consumer attention and drive sales.

Recent Developments

The functional chewing gum market is witnessing continuous innovation and strategic moves from key industry participants. Recent developments are heavily focused on the launch of new products featuring novel functional ingredients and cleaner labels. There has been a noticeable surge in gums promoting brain health with nootropics, stress relief with adaptogens like ashwagandha, and sleep aid with melatonin, reflecting a broader consumer interest in mental wellness and mindfulness. Sustainability has become a critical focus area, with several brands announcing initiatives to transition to recyclable or biodegradable packaging materials to reduce environmental impact. Furthermore, strategic acquisitions and partnerships are occurring, as larger companies seek to acquire innovative startups with unique formulations or strong niche brand identities to quickly expand their functional portfolios. Marketing strategies have also evolved, with a greater emphasis on digital and social media campaigns to educate consumers on the specific benefits of functional gums and target specific demographic groups effectively.

Report Segmentation

This comprehensive market research report on the functional chewing gum industry provides a detailed analysis structured through methodical segmentation. The report is segmented by type to analyze distinct product categories such as sugar-free chewing gum, energy & focus gum, vitamin-fortified gum, and stress relief gum, examining the trends and consumer demand within each category. It is further segmented by application, delving into the various usage scenarios including oral health, sports nutrition, cognitive enhancement, and general wellness, providing insights into the drivers within each application field. A crucial geographic segmentation breaks down the market into key regions and major countries within those regions, such as North America, Europe, Asia-Pacific, and the rest of the world, offering a comparative analysis of market dynamics, growth patterns, and competitive landscapes across different geographies. This multi-faceted segmentation allows for a granular understanding of the market, identifying specific growth pockets and opportunities for stakeholders.

FAQs

What is functional chewing gum?

Functional chewing gum is a specialized category of gum that is infused with additional active ingredients designed to provide specific health benefits beyond mere breath freshening or flavor. These benefits can include improving oral health by reducing plaque, boosting energy levels and mental focus, delivering vitamins and minerals, aiding in stress relief, or even assisting with smoking cessation.

What are the benefits of functional gum?

The benefits are directly tied to their formulation. Common advantages include promoting dental health by stimulating saliva production and using sugar substitutes like xylitol, offering a convenient and rapid delivery system for energy through caffeine or vitamins, enhancing cognitive functions such as concentration and memory, and providing a portable method for stress management or dietary supplementation.

How does functional gum work?

Functional gum works through a process called buccal absorption. When chewed, the active ingredients are released and can be absorbed directly into the bloodstream through the mucous membranes in the mouth. This method often allows for quicker absorption into the system compared to traditional supplements that must be swallowed and pass through the digestive system, leading to a faster onset of the desired effect.

Is functional chewing gum good for you?

When consumed as directed and as part of a balanced lifestyle, functional chewing gum can offer specific health benefits. For instance, sugar-free gum is widely recognized by dental associations for its role in oral hygiene. Gums fortified with vitamins can contribute to daily nutrient intake, and those with caffeine can provide an energy boost. However, it is important for consumers to review ingredients and be mindful of their individual dietary needs and any potential sensitivities.

Who are the key players in the functional chewing gum market?

The market is led by a combination of large multinational food and confectionery corporations and smaller specialized companies. Prominent players include Mars Incorporated, Mondelez International, Perfetti Van Melle, and The Hershey Company. Significant niche players focusing primarily on functional benefits include Neuro Gum, Zapp Gum, and LotFancy, among others, each contributing to market innovation and competition.

Citius Research has developed a research report titled “Functional Chewing Gum 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

• Functional Chewing Gum 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 Functional Chewing Gum 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.

Functional Chewing Gum Market Segmentation

Market Segmentation

Regions Covered

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

Functional Chewing Gum Market Analysis

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

• Overview of Functional Chewing Gum Market
• Research Methodology
• Executive Summary
• Market Dynamics of Functional Chewing Gum 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 Functional Chewing Gum Market
• Cost and Gross Margin Analysis of Functional Chewing Gum Market
• Functional Chewing Gum 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 “Functional Chewing Gum 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.

Functional Chewing Gum Market Key Stakeholders

Below are the key stakeholders for the Functional Chewing Gum Market:

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

Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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 Functional Chewing Gum 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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