Gourmand Fragrance 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: CR0195451
  • Format: Electronic (PDF)
  • Number of Pages: 204
  • Author(s): Joshi, Madhavi

Report Overview

The Gourmand Fragrance Market size was estimated at USD 1.8 billion in 2023 and is projected to reach USD 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

Gourmand Fragrance Market

(Market Size)
$1.8 billion
$4 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.00%
2023 Market Size USD 1.8 billion
2030 Market Size USD 4 billion
Key Players Givaudan, Firmenich, Symrise, IFF, Mane

Market Summary

The gourmand fragrance market represents a specialized and rapidly evolving segment within the broader food and beverages industry, focusing on scents that evoke edible and sweet aromas. These fragrances are characterized by their warm, comforting, and often dessert-like profiles, including notes of vanilla, chocolate, caramel, coffee, and various fruits. The demand is primarily driven by their application in enhancing consumer products, creating multisensory experiences that boost appeal and brand recognition. Companies operating in this space develop and supply these aroma compounds to a diverse range of industries, including food processing, beverage manufacturing, personal care, and home care products. The market is influenced by continuous innovation in flavor and fragrance chemistry, catering to the growing consumer preference for indulgent and nostalgic sensory experiences. Key players are engaged in extensive research to create novel and complex scent profiles that can differentiate products in a competitive marketplace. The integration of gourmand fragrances is seen as a strategic tool for brand development and customer retention.

Key Highlights

The gourmand fragrance market is distinguished by several key factors that underscore its significance and growth potential. A primary highlight is the intense focus on research and development, leading to the creation of sophisticated and authentic scent profiles that accurately mimic real food aromas. This technological advancement allows for greater precision and consistency in fragrance formulation. Another critical aspect is the strong alignment with consumer lifestyle trends, particularly the rising demand for premiumization and experiential products across both food and non-food applications. The market also benefits from the versatility of gourmand scents, which are effectively utilized beyond food and beverages in candles, air fresheners, perfumes, and cosmetic products, thereby expanding their commercial reach. Sustainability and natural sourcing have emerged as significant highlights, with leading companies investing in bio-based and ethically sourced raw materials to meet regulatory standards and consumer expectations for cleaner labels.

Drivers, Opportunities & Restraints

Market growth is propelled by several powerful drivers, including the increasing consumer inclination towards indulgent and sensory-rich products that offer comfort and nostalgia. The expansion of the processed food and premium beverage sectors further accelerates demand for high-quality gourmand fragrances to enhance product appeal. Significant opportunities are present in the development of organic and natural fragrance variants, catering to the health-conscious consumer segment and opening new revenue streams. The rising popularity of aromatherapy and scented home products also presents a substantial growth avenue for market players. However, the market faces notable restraints, such as the high cost and limited availability of certain natural raw materials required for fragrance synthesis. Stringent regulatory frameworks governing the use of synthetic compounds in food and consumer products also pose challenges, requiring continuous compliance efforts and potentially increasing operational costs for manufacturers.

Concentration Insights

The competitive landscape of the gourmand fragrance market is characterized by a high level of concentration, with a few major international players holding significant market share. Leading companies such as Firmenich, Givaudan, International Flavors & Fragrances Inc., Symrise, and Takasago collectively dominate the supply chain, leveraging their extensive research capabilities, global distribution networks, and strong client relationships. These established players compete intensely on the basis of innovation, product quality, and customization capabilities to serve large multinational clients. Alongside these giants, there is a presence of numerous smaller and medium-sized enterprises that often focus on niche segments or specific regional markets, offering specialized and artisanal fragrance solutions. The market concentration fosters an environment of continuous technological advancement and strategic partnerships, including mergers and acquisitions, as companies seek to expand their product portfolios and geographic reach.

Type Insights

The market offerings are broadly segmented into natural and synthetic gourmand fragrances, each catering to specific application needs and consumer preferences. Natural fragrances are derived from botanical sources through processes like extraction and distillation, providing authentic and often more complex scent profiles. These are highly valued in premium product categories and are gaining traction due to the clean label movement. Synthetic fragrances, created through chemical synthesis, offer advantages in terms of cost-effectiveness, consistency, stability, and the ability to replicate scents that are difficult or expensive to obtain naturally. A significant trend is the development of hybrid solutions that blend natural and synthetic components to achieve optimal performance, cost, and sustainability. Popular gourmand fragrance types include vanilla-centric blends, chocolate and cocoa variations, coffee aromas, caramel and butterscotch notes, and a wide array of fruity compositions, each finding specific applications across different industries.

Application Insights

Gourmand fragrances find extensive and diverse applications across multiple industries, making them a versatile component in product development. Within the food and beverage sector, they are indispensable for flavoring confectionery, baked goods, dairy products, alcoholic and non-alcoholic beverages, and savory snacks, enhancing taste perception and overall sensory appeal. The personal care and cosmetics industry is a major consumer, incorporating these warm, edible scents into perfumes, lotions, soaps, and hair care products to create enticing and memorable user experiences. The home care segment utilizes gourmand fragrances in products like candles, diffusers, laundry detergents, and surface cleaners to evoke a sense of comfort and cleanliness. Furthermore, the pharmaceutical industry employs these aromas to mask unpleasant tastes in medicines and supplements. Each application sector demands specific performance characteristics, such as heat stability in food processing or longevity in perfumery, driving tailored innovation from fragrance suppliers.

Regional Insights

The demand for gourmand fragrances exhibits distinct regional patterns influenced by local consumer preferences, economic development, and industrial activity. North America and Europe represent mature and high-value markets, characterized by strong demand for premium and innovative fragrance solutions in both food and non-food applications. These regions are hubs for major flavor and fragrance companies and are at the forefront of trends like natural and organic products. The Asia Pacific region is identified as the fastest-growing market, fueled by rapid urbanization, rising disposable incomes, and the expanding processed food and personal care industries in countries like China, India, and Japan. Local preferences for specific gourmand notes, such as green tea in East Asia or tropical fruits in Southeast Asia, influence product development strategies. Latin America and the Middle East and Africa are emerging markets with growing potential, particularly in the food and beverage and home care sectors.

Company Insights

The market is served by a mix of global leaders and specialized niche players, each employing distinct strategies to maintain competitiveness. Major corporations like Firmenich, Givaudan, International Flavors & Fragrances Inc. (IFF), Symrise AG, and Takasago International Corporation dominate with their comprehensive product portfolios, extensive R&D investments, and global production and distribution capabilities. These companies often engage in long-term partnerships with large fast-moving consumer goods (FMCG) brands. Other significant players include Mane SA, Robertet SA, and Sensient Technologies Corporation, which also hold considerable expertise and market presence. The competitive strategy revolves around continuous innovation, sustainability initiatives, and customization to meet specific client needs. Many companies are focusing on developing region-specific formulations and expanding their natural fragrance offerings to capture growth in emerging markets and align with evolving consumer trends.

Recent Developments

The gourmand fragrance market is dynamic, with recent developments focusing on innovation, sustainability, and strategic growth. A prominent trend is the increased investment in biotechnology and green chemistry to create sustainable fragrance ingredients, reducing reliance on traditional petroleum-based sources or scarce natural materials. Companies are launching novel gourmand scent portfolios that cater to the demand for unique and exotic flavor combinations, such as salted caramel or spiced vanilla. There has been a noticeable uptick in mergers, acquisitions, and partnerships aimed at strengthening technological capabilities and expanding market reach; for instance, larger entities acquiring smaller firms with expertise in natural extracts. Furthermore, leading players are enhancing their digital and sensory evaluation tools to improve client collaboration and accelerate the product development process, ensuring faster time-to-market for new fragrance solutions.

Report Segmentation

This comprehensive market research report on the gourmand fragrance industry provides a detailed analysis structured through methodical segmentation. The analysis is segmented by type, distinguishing between natural and synthetic fragrance sources to evaluate their respective market dynamics, demand patterns, and growth prospects. It is further segmented by application, providing in-depth insights into key end-use industries including food, beverages, bakery and confectionery, dairy products, personal care and cosmetics, home care, and others. Each application segment is analyzed for its specific drivers, trends, and future potential. Geographically, the report offers a thorough regional analysis covering North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, highlighting key countries within each region. This multi-faceted segmentation allows for a granular understanding of the market, enabling stakeholders to identify specific growth opportunities and make informed strategic decisions.

FAQs

What is a gourmand fragrance? A gourmand fragrance is a category of scent characterized by warm, sweet, and edible aromas that evoke foods and desserts, such as vanilla, chocolate, caramel, coffee, and fruits. These fragrances are designed to create a comforting and indulgent sensory experience.

What are the key ingredients in gourmand fragrances? Key ingredients often include both natural extracts like vanilla absolute, cocoa extract, and coffee essence, and synthetic molecules such as ethyl maltol (for cotton candy) and coumarin (for vanilla-like notes), which help create consistent and complex scent profiles.

Which industries use gourmand fragrances the most? The primary industries are food and beverage, particularly for flavoring; personal care and cosmetics for perfumes and lotions; and home care for products like scented candles and air fresheners, aiming to enhance product appeal through aroma.

What is driving the growth of the gourmand fragrance market? Growth is driven by rising consumer demand for indulgent and experiential products, the expansion of the processed food and premium beverage sectors, and the increasing application of these scents in non-food products like cosmetics and home fragrances.

How are gourmand fragrances different from other fragrance types? Unlike floral, woody, or fresh fragrance families, gourmand scents specifically mimic edible and sweet aromas, focusing on creating a perception of taste and comfort, which sets them apart in their ability to trigger nostalgia and appetite.

Citius Research has developed a research report titled “Gourmand Fragrance 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

• Gourmand Fragrance 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 Gourmand Fragrance 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.

Gourmand Fragrance Market Segmentation

Market Segmentation

Regions Covered

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

Gourmand Fragrance Market Analysis

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

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

Gourmand Fragrance Market Key Stakeholders

Below are the key stakeholders for the Gourmand Fragrance Market:

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

Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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 Gourmand Fragrance 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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