Monosodium Glutamate (MSG) 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: CR0195657
  • Format: Electronic (PDF)
  • Number of Pages: 176
  • Author(s): Joshi, Madhavi

Report Overview

The Monosodium Glutamate (MSG) Market size was estimated at USD 4.5 billion in 2023 and is projected to reach USD 7.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2024-2030).

Monosodium Glutamate (MSG) Market

(Market Size)
$4.5 billion
$7.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.30%
2023 Market Size USD 4.5 billion
2030 Market Size USD 7.2 billion
Key Players Ajinomoto, Fufeng Group, Meihua Holdings, Ningxia EPPEN, Shandong Qilu

Market Summary

The monosodium glutamate (MSG) market is a significant segment within the global food and beverages industry, primarily driven by its widespread use as a flavor enhancer. MSG is a sodium salt of glutamic acid, an amino acid naturally present in various foods like tomatoes and cheese. It is renowned for its ability to impart umami, the fifth basic taste, which enhances savory flavors in culinary applications. The market serves a diverse range of end-users, including food manufacturers, restaurants, and households, contributing to its steady demand. Key regions such as Asia-Pacific exhibit high consumption patterns due to traditional culinary practices, while North America and Europe show growing acceptance in processed food sectors. The market is characterized by the presence of established players and continuous innovation in product formulations to meet evolving consumer preferences and regulatory standards.

Key Highlights

The monosodium glutamate market is distinguished by several key highlights that underscore its industrial importance. A major highlight is the ingredient's critical role in reducing sodium content in food products while maintaining palatability, aligning with health-conscious trends. The market benefits from extensive application across numerous food categories, including snacks, soups, seasonings, and ready-to-eat meals, ensuring broad-based demand. Technological advancements in production processes have led to improved purity and quality of MSG, enhancing its appeal to food manufacturers. Additionally, strategic initiatives by leading companies such as Ajinomoto Company, Inc., Fufeng Group Company Limited, and Meihua Holdings Group Co., Ltd. focus on capacity expansions and sustainable sourcing to strengthen their market positions. The evolving regulatory landscape, particularly regarding labeling and safety, also shapes market dynamics, influencing product development and marketing strategies.

Drivers, Opportunities & Restraints

The monosodium glutamate market is propelled by several drivers, including the rising demand for processed and convenience foods globally, where MSG is utilized to enhance flavor profiles efficiently. Increasing urbanization and busy lifestyles further fuel this demand, as consumers seek quick and tasty meal solutions. Opportunities abound in the development of clean-label and natural variants of MSG, catering to the growing preference for organic and non-GMO products. Expansion into emerging markets presents significant growth potential due to changing dietary habits and increasing disposable incomes. However, the market faces restraints such as persistent consumer misconceptions and health concerns related to MSG consumption, often referred to as "Chinese Restaurant Syndrome," despite scientific evidence deeming it safe for the general population. Regulatory challenges and stringent food safety standards in various regions also pose hurdles, requiring continuous compliance efforts from industry participants.

Concentration Insights

The monosodium glutamate market exhibits a moderately concentrated structure, with a few major players dominating global production and sales. Key companies such as Ajinomoto Company, Inc., Fufeng Group Company Limited, and Meihua Holdings Group Co., Ltd. hold significant market shares due to their extensive production capacities, robust distribution networks, and strong brand recognition. These industry leaders engage in strategic activities like mergers, acquisitions, and partnerships to consolidate their positions and expand geographical reach. The market also features several regional and local manufacturers, particularly in Asia, contributing to competitive dynamics. Concentration is influenced by factors such as technological expertise, access to raw materials, and regulatory compliance capabilities, which larger players typically manage more effectively. This landscape encourages innovation and competitive pricing, benefiting end-users while driving overall market growth.

Type Insights

The monosodium glutamate market is segmented based on type, primarily distinguishing between synthesized MSG and naturally derived variants. Synthesized MSG, produced through fermentation processes using substrates like molasses or starch, constitutes the bulk of market volume due to cost-effectiveness and high availability. This type is widely used in industrial food manufacturing for its consistent quality and potency. Naturally derived MSG, extracted from natural sources such as seaweed or through enzymatic processes, is gaining traction among health-conscious consumers seeking clean-label ingredients. Although it represents a smaller segment, its growth is fueled by trends toward organic and non-GMO products. Both types serve the same functional purpose of enhancing umami taste, but their adoption varies based on application requirements, regulatory approvals, and consumer preferences, influencing product development strategies among manufacturers.

Application Insights

Monosodium glutamate finds diverse applications across the food and beverages industry, underpinning its versatile utility. In the food processing sector, it is extensively used in products such as snacks, instant noodles, soups, sauces, and seasonings to amplify savory flavors and improve overall taste acceptance. The restaurant and foodservice industry relies on MSG for preparing dishes that require enhanced umami profiles, particularly in Asian cuisines. Household consumption is another significant application, where MSG is used as a cooking additive to elevate homemade meals. Additionally, it is incorporated into animal feed to improve palatability and intake. Each application segment drives demand based on specific functional benefits, with industrial applications leading in volume due to large-scale usage, while niche segments like natural and organic food products present emerging growth avenues.

Regional Insights

The monosodium glutamate market demonstrates distinct regional dynamics shaped by culinary traditions, economic factors, and regulatory environments. The Asia-Pacific region dominates global consumption, driven by countries like China, Japan, and Indonesia, where MSG is deeply ingrained in traditional cooking and food manufacturing. North America and Europe represent significant markets characterized by high usage in processed foods, though consumer perceptions and regulatory scrutiny influence demand patterns. In these regions, there is a growing inclination toward clean-label alternatives, prompting manufacturers to innovate. Latin America and the Middle East & Africa are emerging markets with increasing adoption due to urbanization and the expansion of the food processing industry. Regional disparities in regulatory standards, such as labeling requirements and safety assessments, also impact market strategies and product offerings, necess tailored approaches for each geographical area.

Company Insights

The monosodium glutamate market features several key players that significantly influence industry trends and competitive dynamics. Ajinomoto Company, Inc. is a global leader, renowned for its extensive product portfolio, research capabilities, and strong presence across multiple regions. Fufeng Group Company Limited and Meihua Holdings Group Co., Ltd. are major Chinese manufacturers with substantial production capacities and cost advantages, catering to domestic and international markets. Other notable companies include Ningxia EPPEN Biotech Co., Ltd. and Shandong Qilu Biotechnology Group Co., Ltd., which contribute to market diversity through specialized offerings. These companies focus on strategies such as capacity expansion, technological innovation, and sustainability initiatives to maintain competitiveness. Their efforts in addressing consumer concerns, such as developing reduced-sodium and natural variants, highlight the industry's adaptive nature and commitment to meeting evolving market demands.

Recent Developments

Recent developments in the monosodium glutamate market reflect ongoing innovation and strategic adaptations to global trends. Leading companies have invested in expanding production facilities to meet growing demand, particularly in Asia-Pacific and emerging economies. There is a heightened focus on research and development to create cleaner-label and natural MSG alternatives, responding to consumer preferences for organic and non-GMO ingredients. Regulatory advancements, such as updated safety evaluations and labeling guidelines in various countries, have prompted manufacturers to enhance compliance measures and transparency in product information. Sustainability initiatives have gained prominence, with efforts to reduce environmental impact through energy-efficient production processes and waste management. Collaborations and partnerships between industry players and food manufacturers are also prevalent, aiming to co-develop customized solutions for specific applications, thereby driving innovation and market growth.

Report Segmentation

This market research report on the monosodium glutamate market provides a detailed segmentation analysis to offer comprehensive insights into industry dynamics. The report is segmented by type, distinguishing between synthesized and natural MSG variants, each analyzed for market share, growth trends, and application suitability. Application segmentation covers key areas such as food processing, which includes snacks, soups, and seasonings; foodservice; household use; and animal feed, highlighting demand drivers and functional benefits in each category. Geographical segmentation breaks down the market into regions including Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa, examining regional consumption patterns, regulatory influences, and growth opportunities. Additionally, the report includes segmentation by end-user industry and distribution channel, providing stakeholders with actionable intelligence for strategic decision-making and market positioning.

FAQs

What is monosodium glutamate (MSG) made from? Monosodium glutamate is produced through the fermentation of carbohydrates from sources such as sugar beets, sugar cane, or molasses. This process involves bacteria that break down these substrates to form glutamic acid, which is then neutralized with sodium to create MSG.

Is MSG bad for your health? Regulatory agencies worldwide, including the U.S. FDA and the European Food Safety Authority, have classified MSG as generally recognized as safe (GRAS). Scientific studies have not found conclusive evidence linking moderate consumption to adverse health effects in the general population.

What foods commonly contain MSG? MSG is prevalent in processed foods like canned soups, snack foods, frozen meals, and seasoning blends. It is also used in restaurant dishes, particularly in Asian cuisines, and can be found naturally in ingredients such as tomatoes and Parmesan cheese.

Are there natural alternatives to MSG? Yes, natural alternatives include ingredients rich in umami flavors, such as mushrooms, soy sauce, tomatoes, and nutritional yeast. These are often used in clean-label products to achieve similar taste enhancement without synthesized additives.

How does MSG enhance flavor? MSG works by stimulating umami receptors on the tongue, amplifying savory tastes in food. It does not add its own distinct flavor but enhances the existing flavors, making dishes taste more robust and satisfying without increasing sodium content significantly.

Citius Research has developed a research report titled “Monosodium Glutamate (MSG) 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

• Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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.

Monosodium Glutamate (MSG) Market Segmentation

Market Segmentation

Regions Covered

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

Monosodium Glutamate (MSG) Market Analysis

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

• Overview of Monosodium Glutamate (MSG) Market
• Research Methodology
• Executive Summary
• Market Dynamics of Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) Market
• Cost and Gross Margin Analysis of Monosodium Glutamate (MSG) Market
• Monosodium Glutamate (MSG) 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 “Monosodium Glutamate (MSG) 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.

Monosodium Glutamate (MSG) Market Key Stakeholders

Below are the key stakeholders for the Monosodium Glutamate (MSG) Market:

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

Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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 Monosodium Glutamate (MSG) 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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