Glazes 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: CR0195433
  • Format: Electronic (PDF)
  • Number of Pages: 213
  • Author(s): Joshi, Madhavi

Report Overview

The Glazes Market size was estimated at USD 2.8 billion in 2023 and is projected to reach USD 6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2024-2030).

Glazes Market

(Market Size)
$2.8 billion
$6 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.80%
2023 Market Size USD 2.8 billion
2030 Market Size USD 6 billion
Key Players Capol, Strahl & Pitsch, Poth Hille, Masterol Foods, Koster Keunen

Market Summary

The glazes market within the food and beverages industry encompasses a specialized segment focused on coatings applied to various food products to enhance visual appeal, texture, flavor, and shelf life. These formulations are integral across multiple food categories, including bakery, confectionery, meat products, and ready-to-eat meals. Glazes serve functional purposes such as providing a glossy finish, improving moisture retention, and acting as a barrier against environmental factors. The market is characterized by continuous innovation in ingredient sourcing and application techniques, driven by evolving consumer preferences for premium and aesthetically pleasing food products. Manufacturers are increasingly developing glazes that cater to clean label trends, incorporating natural colors, flavors, and sweeteners while reducing artificial additives. The demand is further supported by the growth of the food processing sector and the expansion of retail channels globally. Key players are engaged in research and development to introduce products that meet specific dietary needs, including low-sugar, vegan, and allergen-free options, aligning with broader health and wellness movements in the food industry.

Key Highlights

The glazes market is distinguished by several critical aspects that underline its significance in the food and beverages sector. A primary highlight is the versatility of glazes, which are utilized across diverse applications from bakery items like doughnuts and pastries to savory products such as ham and poultry, enhancing both visual and sensory attributes. Innovation remains a cornerstone, with advancements in natural ingredient formulations gaining traction, responding to consumer demand for transparency and clean labels. The market also benefits from technological improvements in application methods, ensuring consistent quality and efficiency in high-volume production environments. Sustainability initiatives are increasingly influential, prompting manufacturers to explore eco-friendly sourcing and reduce environmental footprints. Additionally, the rise of artisanal and gourmet food trends has spurred demand for premium glazes with unique flavors and textures. Regulatory compliance regarding food safety and labeling standards continues to shape product development strategies. The competitive landscape is marked by strategic collaborations and mergers among leading companies to expand market reach and portfolio diversity, reinforcing the dynamic nature of this industry.

Drivers, Opportunities & Restraints

Growth in the glazes market is propelled by several drivers, including rising consumer expectations for food aesthetics and quality, which encourage the use of glazes to improve product appearance and taste. The expansion of the food processing industry, coupled with increasing consumption of convenience and ready-to-eat foods, further stimulates demand. Opportunities abound in the development of healthier glaze options, such as those with reduced sugar content, natural ingredients, and functional benefits, catering to health-conscious demographics. Emerging markets present significant growth potential due to urbanization, changing lifestyles, and rising disposable incomes. However, the market faces restraints including stringent regulatory frameworks governing food additives and ingredients, which can complicate product formulations and increase compliance costs. Fluctuations in raw material prices, particularly for natural colors and sweeteners, pose challenges to cost management and pricing strategies. Additionally, growing consumer skepticism towards processed foods and artificial additives may limit market expansion in certain segments. Despite these challenges, innovation and adaptation to consumer trends offer pathways for sustained growth and differentiation in the competitive landscape.

Concentration Insights

The glazes market exhibits a concentrated competitive structure with a mix of global leaders and specialized regional players dominating the landscape. Key companies such as Kerry Group, Ingredion Incorporated, Archer Daniels Midland Company, and Tate & Lyle hold substantial market shares due to their extensive product portfolios, robust research and development capabilities, and strong distribution networks. These industry giants focus on strategic acquisitions and partnerships to enhance their technological expertise and expand their geographic presence. Regional players often compete by offering customized solutions and catering to local taste preferences, thereby capturing niche segments. The market concentration is further influenced by high barriers to entry, including the need for significant investment in food safety compliance, advanced manufacturing technologies, and established customer relationships. Innovation remains a critical factor for maintaining competitive advantage, with leading firms investing in developing clean label and sustainable glaze products. This concentration dynamics ensure that while a few major players lead overall market trends, opportunities exist for smaller innovators to thrive through specialization and agility in responding to emerging consumer demands.

Type Insights

Glazes in the food and beverages industry are categorized based on their composition and functional properties, with common types including sugar-based, chocolate-based, fruit-based, and savory glazes. Sugar-based glazes, often made from icings or syrups, are widely used in bakery and confectionery products to add sweetness and shine. Chocolate-based glazes provide a rich flavor and smooth texture, popular in desserts and snacks. Fruit-based glazes, derived from fruit purees or concentrates, offer natural flavors and colors, aligning with clean label trends and applied in products like pastries and meat glazes. Savory glazes, typically used on meat and poultry, incorporate ingredients like honey, soy sauce, or spices to enhance taste and appearance. Each type serves distinct applications and caters to specific consumer preferences, driving diversification in product offerings. Manufacturers are increasingly developing hybrid and multi-functional glazes that combine attributes such as extended shelf life, improved moisture barrier, and enhanced nutritional profiles. The evolution towards natural and organic variants is??, responding to regulatory pressures and consumer demand for healthier options.

Application Insights

Glazes find extensive applications across the food and beverages industry, primarily in bakery products, confectionery, meat and poultry, and ready-to-eat meals. In bakery applications, glazes are used on items like cakes, cookies, and doughnuts to provide visual appeal, sweetness, and moisture retention, thereby improving product shelf life and consumer acceptance. Confectionery products utilize glazes for coating candies and chocolates, enhancing their texture and flavor while preventing sticking and moisture loss. The meat and poultry sector employs glazes to add flavor, color, and a glossy finish to products such as ham and roasted meats, often incorporating ingredients like honey or mustard for distinctive tastes. Ready-to-eat meals benefit from glazes that improve aesthetic qualities and taste, making them more appealing to consumers seeking convenience without compromising on quality. Additionally, glazes are increasingly used in nutritional bars and health-focused snacks to add functional benefits and improve palatability. The versatility of glazes allows for customization based on regional culinary preferences and dietary trends, supporting their widespread adoption across diverse food segments.

Regional Insights

The glazes market demonstrates varied dynamics across different regions, influenced by culinary traditions, economic conditions, and consumer preferences. North America and Europe represent mature markets characterized by high demand for convenience foods and stringent regulations promoting clean label and natural ingredients. These regions see significant innovation in gluten-free, organic, and reduced-sugar glazes, driven by health-conscious consumers. The Asia Pacific region is experiencing rapid growth due to urbanization, rising disposable incomes, and the expansion of the food processing industry, with countries like China and India showing increased adoption of glazes in bakery and confectionery products. Latin America and the Middle East & Africa are emerging markets where growing retail sectors and changing lifestyles are fueling demand, particularly for savory and fruit-based glazes in local cuisines. Regional differences in taste preferences necessitate customized product formulations, leading companies to adapt their offerings to meet local demands. Overall, while developed regions focus on premium and health-oriented products, emerging economies offer growth opportunities through increased penetration and product diversification.

Company Insights

Prominent companies in the glazes market include Kerry Group, Ingredion Incorporated, Archer Daniels Midland Company, Tate & Lyle, and Corbion. Kerry Group is recognized for its comprehensive portfolio of taste and nutrition solutions, offering innovative glaze products that cater to clean label and sustainability trends. Ingredion Incorporated focuses on providing texture and sweetness solutions, with glazes derived from natural starches and sweeteners. Archer Daniels Midland Company leverages its extensive ingredient manufacturing capabilities to produce a wide range of glazes for various applications, emphasizing research and development in health and wellness. Tate & Lyle specializes in sweeteners and texturants, offering glazes that meet reduced-calorie and natural ingredient demands. Corbion is noted for its preservation and functional ingredients, developing glazes that enhance shelf life and food safety. These companies employ strategies such as mergers, acquisitions, and partnerships to expand their market presence and technological expertise. They also invest in sustainable practices and consumer-centric innovations to maintain competitive advantage, addressing evolving regulatory requirements and market demands effectively.

Recent Developments

Recent developments in the glazes market highlight a trend towards innovation and strategic growth initiatives. Key players have launched new products featuring natural colors and flavors, such as fruit-based and vegetable-derived glazes, to align with clean label consumer preferences. There has been an increase in collaborations between glaze manufacturers and food processors to develop customized solutions for specific applications, enhancing product functionality and market relevance. Technological advancements in application techniques, including spray and enrobing systems, have improved efficiency and consistency in glaze deployment across production lines. Sustainability efforts have gained momentum, with companies investing in eco-friendly packaging and reducing water usage in manufacturing processes. Regulatory updates concerning food safety and labeling have prompted reformulations to eliminate artificial additives and allergens. Additionally, market expansion into emerging economies through local partnerships and distribution agreements has been a focus for major players, aiming to tap into growing demand for processed and convenience foods. These developments reflect the industry's adaptive response to global trends and consumer expectations, driving continuous evolution in product offerings and operational strategies.

Report Segmentation

The glazes market report is segmented based on type, application, and region to provide a comprehensive analysis of industry dynamics. By type, the segmentation includes sugar-based, chocolate-based, fruit-based, and savory glazes, each catering to different functional and taste requirements in food products. Application-wise, the market is divided into bakery products, confectionery, meat and poultry, ready-to-eat meals, and others, highlighting the diverse uses of glazes across food sectors. Geographical segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, examining regional trends, consumer behaviors, and growth opportunities. This structured approach allows for detailed insights into specific market segments, enabling stakeholders to identify niche opportunities and strategic focus areas. The segmentation also facilitates understanding of competitive landscapes within each category, assessing the performance of key players and emerging innovators. By analyzing these segments, the report provides valuable information on demand patterns, regulatory impacts, and technological advancements, supporting informed decision-making for businesses and investors operating in or entering the glazes market.

FAQs

What are glazes in food? Glazes in food are coatings applied to various products to enhance appearance, flavor, and texture. They are commonly used in bakery, confectionery, and meat items to provide a glossy finish, improve moisture retention, and add sweetness or savory notes, making food more appealing to consumers.

How are glazes used in baking? In baking, glazes are applied to products like cakes, pastries, and doughnuts to add shine, sweetness, and visual appeal. They can be brushed, drizzled, or sprayed on, and often consist of sugar, water, and flavorings, helping to seal in moisture and extend shelf life.

What is the purpose of a glaze? The purpose of a glaze is to improve the aesthetic and sensory qualities of food products. It provides a glossy appearance, enhances flavor, retains moisture, and can act as a protective barrier against staleness or environmental factors, thereby increasing consumer appeal and product durability.

Are glazes vegan? Not all glazes are vegan; it depends on the ingredients used. Traditional glazes may contain animal-derived products like honey or dairy. However, many manufacturers now offer vegan glazes made from plant-based ingredients such as agave syrup, fruit juices, and vegetable gums to cater to dietary preferences.

How to make a simple glaze? A simple glaze can be made by mixing powdered sugar with a liquid such as water, milk, or lemon juice until smooth. For flavor, additions like vanilla extract or cocoa powder can be incorporated. This mixture is then applied to food items for a sweet, glossy coating.

Citius Research has developed a research report titled “Glazes 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

• Glazes 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 Glazes 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.

Glazes Market Segmentation

Market Segmentation

Regions Covered

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

Glazes Market Analysis

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

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

Glazes Market Key Stakeholders

Below are the key stakeholders for the Glazes Market:

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

Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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 Glazes 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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