Grill-type Flavours 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: CR0195464
  • Format: Electronic (PDF)
  • Number of Pages: 224
  • Author(s): Joshi, Madhavi

Report Overview

The Grill-type Flavours 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).

Grill-type Flavours 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 grill-type flavours market is a dynamic and evolving segment within the broader food and beverage industry, catering to the growing consumer demand for smoky, charred, and barbecued taste profiles without the need for traditional outdoor grilling. These flavour solutions are extensively utilized across various product categories, including snacks, sauces, ready-to-eat meals, and meat alternatives, to impart authentic grilled notes. The market is characterized by continuous innovation, with manufacturers developing advanced technologies to replicate the complex chemical reactions of grilling, such as the Maillard reaction, through liquid smoke, extracts, and reaction flavours. The shift towards convenience foods and the rising popularity of plant-based diets are significant factors propelling the adoption of these flavours, as they help deliver a familiar and desirable sensory experience in processed and alternative protein products. Key industry participants are focused on expanding their portfolios to include clean-label and natural options, responding to the heightened consumer awareness regarding ingredient transparency and health considerations.

Key Highlights

The grill-type flavours market is distinguished by several pivotal developments that underscore its commercial importance and trajectory. A primary highlight is the robust investment in research and development by leading flavour firms such as Givaudan, International Flavors & Fragrances Inc., and Firmenich, aimed at creating more authentic and complex grilled taste profiles that can withstand various processing conditions. The integration of these flavours into the burgeoning plant-based meat sector represents a critical innovation, enabling products to achieve the sensory attributes of grilled animal meat, which is essential for consumer acceptance. Furthermore, the market is witnessing a surge in demand for organic and non-GMO grill-type flavours, aligning with the broader clean-label movement. Geographically, product launches and marketing campaigns are increasingly tailored to regional barbecue and grilling traditions, such as American smokiness or Asian charred nuances, highlighting the importance of cultural customization. The strategic acquisitions and partnerships among flavour companies to enhance their technological capabilities and market reach are also defining features of this competitive landscape.

Drivers, Opportunities & Restraints

The expansion of the grill-type flavours market is primarily driven by the escalating consumer inclination towards convenient and easy-to-prepare food products that do not compromise on taste, alongside the global popularity of barbecue and grilled cuisines. The proliferation of quick-service restaurants and the fast-food industry's constant menu innovation to include grilled offerings further stimulate demand. A significant opportunity lies in the rapid growth of the meat alternative segment, where grill-type flavours are indispensable for replicating the desired sensory experience of traditional meat, thus opening vast new application areas. Additionally, the exploration of emerging markets with growing middle-class populations presents substantial growth potential for market players. However, the market faces restraints, including stringent food safety regulations governing the use of smoke flavourings and certain compounds formed during grilling processes. Fluctuations in the prices of raw materials required for producing natural flavour extracts can also pose challenges to cost-effective manufacturing and consistent supply.

Concentration Insights

The competitive landscape of the grill-type flavours market is moderately concentrated, with a mix of large multinational corporations and specialized niche players dominating the scene. Established flavour and fragrance giants, including Symrise AG, Takasago International Corporation, and Sensient Technologies Corporation, hold significant market shares due to their extensive research facilities, broad product portfolios, and global distribution networks. These industry leaders compete intensely on the basis of technological innovation, product quality, and the ability to provide customized solutions for specific client needs. Concurrently, several smaller and medium-sized enterprises focus on particular regions or specialize in organic and natural flavour offerings, carving out dedicated market segments. The concentration is also evident in strategic activities, with larger firms frequently engaging in mergers and acquisitions to assimilate novel technologies and expand their geographic presence, thereby consolidating their positions in this high-growth market.

Type Insights

The grill-type flavours market is segmented by type, primarily into natural and synthetic variants, each catering to different industry needs and consumer preferences. Natural grill-type flavours, derived from sources such as hickory, mesquite, applewood, and other wood smokes through processes like pyrolysis and condensation, are gaining considerable traction due to the clean-label trend. These are often available in liquid, powder, or oil forms to suit diverse application requirements. Synthetic grill-type flavours, created through chemical synthesis to mimic specific smoky or charred notes, are valued for their stability, intensity, and cost-effectiveness, making them suitable for high-volume production. The development of reaction flavours, which are created by heating specific amino acids and sugars to produce Maillard reaction products, represents a sophisticated segment that effectively replicates the complex taste of grilling. The choice between natural and synthetic is largely influenced by the target application, desired label claim, regulatory environment, and cost constraints.

Application Insights

Grill-type flavours find extensive application across a wide spectrum of the food and beverage industry, significantly enhancing the palatability of various products. In the snacks sector, they are crucial for flavouring potato chips, nuts, and extruded snacks to deliver a popular barbecue taste. The sauces, dressings, and marinades category is a major application area, where these flavours are used to create authentic grilling and smoking profiles. The processed meat and poultry industry relies heavily on grill-type flavours to impart a freshly grilled appearance and taste, even in pre-cooked products. Perhaps the most rapidly growing application is in plant-based meat alternatives, where achieving a grilled, smoky character is fundamental to consumer satisfaction and product success. Furthermore, these flavours are increasingly being incorporated into ready meals, soups, and even certain beverages, demonstrating their versatility and broad appeal in providing a familiar and desirable sensory experience.

Regional Insights

The demand for grill-type flavours exhibits distinct regional patterns, influenced heavily by local culinary traditions, dietary habits, and economic development. North America represents a dominant market, driven by a deep-rooted culture of backyard barbecuing and a high consumption of processed and convenience foods that utilize these flavours. Europe follows closely, with stringent regulations influencing the adoption of natural variants and a strong presence of leading flavour manufacturers. The Asia Pacific region is anticipated to witness the most rapid growth, fueled by the expanding food processing industry, westernization of diets, rising disposable incomes, and the growing popularity of international cuisines that feature grilled notes. Latin America and the Middle East and Africa are emerging as promising markets, with growth opportunities linked to urbanization, the expansion of retail chains, and increasing consumer experimentation with global food trends, all of which contribute to the rising incorporation of grill-type flavours in local product innovations.

Company Insights

The grill-type flavours market features a competitive roster of companies striving to capture market share through innovation and strategic expansion. Prominent players such as Kerry Group, Archer Daniels Midland Company, and McCormick & Company leverage their extensive expertise in flavour science and strong customer relationships to develop comprehensive solutions. These corporations often provide not just the flavours but also integrated seasoning systems and technical support to food manufacturers. Other significant contributors include D?hler GmbH, which emphasizes naturalness and clean-label profiles, and Innova Flavors, known for its customized approach. The strategic focus for these entities encompasses expanding production capacities, investing in sustainable sourcing of raw materials, and developing flavours that meet specific regional taste preferences and regulatory standards. The competitive dynamics are shaped by a continuous race to launch novel, authentic, and application-specific grill-type flavours that can meet the evolving demands of the global food industry.

Recent Developments

The grill-type flavours market has been active with numerous recent developments highlighting innovation and strategic growth initiatives. Key industry players have launched new product lines focused on organic and non-GMO project verified options to cater to the health-conscious consumer segment. There has been a notable increase in collaborations between flavour companies and plant-based meat producers to co-create bespoke grill-type flavour solutions that enhance the authenticity of alternative protein products. Technological advancements have been centered on improving the delivery systems of these flavours, such as microencapsulation, to protect them during high-temperature processing and ensure a sustained release of aroma and taste. Furthermore, several companies have announced expansions of their manufacturing facilities in the Asia Pacific region to better serve the local market and reduce supply chain complexities. These developments collectively indicate a market that is responsive to trends and aggressively pursuing growth through innovation and geographic expansion.

Report Segmentation

This comprehensive market research report on the grill-type flavours industry provides a detailed analysis segmented across multiple dimensions to offer a granular understanding of the market dynamics. The segmentation is structured by type, categorizing the market into natural and synthetic grill-type flavours, with further breakdowns based on the source material and form, such as liquid, powder, and oil. By application, the report delves into key sectors including snacks, sauces and dressings, processed meats, plant-based products, ready meals, and others. The geographical segmentation offers an in-depth analysis of regional markets across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, highlighting key countries within each region. Additionally, the report includes a competitive landscape section that profiles major companies, discussing their market share, product offerings, and strategic initiatives. This multi-faceted segmentation enables stakeholders to identify specific growth pockets, understand application-specific demands, and formulate informed business strategies.

FAQs

What are grill-type flavours?

Grill-type flavours are food additives specifically designed to impart the characteristic taste and aroma of grilled, barbecued, or smoked foods. They are created to replicate the complex sensory profile achieved through traditional grilling methods, often utilizing natural smoke extracts, reaction flavours, or synthetic compounds.

How are natural grill-type flavours made?

Natural grill-type flavours are typically produced through the controlled burning (pyrolysis) of hardwoods such as hickory, mesquite, or applewood. The smoke generated is then captured, condensed, and often purified to create liquid smoke or further processed into dry powders or oils, which are used as flavouring agents.

What is the difference between grill-type and smoke flavours?

While the terms are sometimes used interchangeably, grill-type flavours often aim to replicate the entire sensory experience of grilling, which includes Maillard reaction notes (searing, browning) and specific charred characteristics, whereas smoke flavours focus primarily on delivering the smoky aroma and taste associated with wood smoking.

What are the key applications of grill-type flavours?

Key applications include flavouring snack foods like chips and crackers, enhancing sauces, marinades, and dressings, improving the taste of processed meats and poultry, and are critically important in the development of plant-based meat alternatives to provide a authentic grilled meat experience.

Which regions have the highest demand for grill-type flavours?

North America and Europe are established regions with high demand, driven by strong barbecue cultures and processed food consumption. However, the Asia Pacific region is experiencing the fastest growth in demand, fueled by changing food habits, urbanization, and the rising popularity of Western-style convenience foods.

Citius Research has developed a research report titled “Grill-type Flavours 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

• Grill-type Flavours 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 Grill-type Flavours 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.

Grill-type Flavours Market Segmentation

Market Segmentation

Regions Covered

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

Grill-type Flavours Market Analysis

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

• Overview of Grill-type Flavours Market
• Research Methodology
• Executive Summary
• Market Dynamics of Grill-type Flavours 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 Grill-type Flavours Market
• Cost and Gross Margin Analysis of Grill-type Flavours Market
• Grill-type Flavours 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 “Grill-type Flavours 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.

Grill-type Flavours Market Key Stakeholders

Below are the key stakeholders for the Grill-type Flavours Market:

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

Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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 Grill-type Flavours 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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