Tannin 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: CR0196970
  • Format: Electronic (PDF)
  • Number of Pages: 183
  • Author(s): Joshi, Madhavi

Report Overview

The Tannin Market size was estimated at USD 1.2 billion in 2023 and is projected to reach USD 2.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.70% during the forecast period (2024-2030).

Tannin Market

(Market Size)
$1.2 billion
$2.1 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.70%
2023 Market Size USD 1.2 billion
2030 Market Size USD 2.1 billion
Key Players Tannin Corporation, Laffort, Ajinomoto

Market Summary

The tannin market is a significant segment within the global food and beverages industry, characterized by its diverse applications and natural sourcing. Tannins are polyphenolic compounds found in various plants, fruits, and barks, known for their astringent properties and health benefits. They are extensively utilized as natural additives, preservatives, and flavoring agents, aligning with the growing consumer preference for clean-label and organic products. The market is driven by increasing demand from sectors such as wine production, where tannins are crucial for taste and aging, as well as from the beverage industry for their use in teas and functional drinks. Key players are focusing on sustainable extraction methods and expanding their product portfolios to cater to evolving industry needs. The market is also influenced by regulatory standards promoting natural ingredients over synthetic alternatives, further bolstering its growth trajectory. Innovation in extraction technologies and the exploration of new source materials are expected to shape the future landscape of the tannin market, making it a dynamic and evolving sector.

Key Highlights

The tannin market is distinguished by several key highlights that underscore its importance and potential. Tannins are increasingly recognized for their antioxidant and antimicrobial properties, making them valuable in food preservation and health-oriented products. The shift towards plant-based and natural ingredients in the food and beverage industry has amplified the demand for tannins, as they offer a viable alternative to synthetic additives. Major companies such as Ajinomoto OmniChem, Tannin Corporation, and Silva Team are actively engaged in research and development to enhance product efficacy and application scope. Geographically, Europe holds a prominent position due to its well-established wine industry, while Asia-Pacific is emerging as a fast-growing region driven by rising disposable incomes and changing consumer preferences. The market is also witnessing increased investment in sustainable sourcing and production practices, reflecting the industry's commitment to environmental responsibility. These factors collectively highlight the tannin market's robust growth prospects and its critical role in the future of food and beverage innovations.

Drivers, Opportunities & Restraints

The tannin market is propelled by several drivers, including the rising consumer awareness regarding the health benefits associated with natural ingredients. Tannins are known for their anti-inflammatory and cardiovascular benefits, which align with the growing trend towards functional foods and beverages. Additionally, the expansion of the wine industry globally acts as a significant driver, as tannins are essential for wine stabilization and flavor enhancement. Opportunities abound in the development of novel applications, such as in the pharmaceutical and nutraceutical sectors, where tannins are explored for their therapeutic properties. The increasing adoption of tannins in leather processing and other industrial applications also presents growth avenues. However, the market faces restraints such as fluctuating raw material prices and supply chain disruptions, which can impact production costs and availability. Regulatory challenges related to the approval of new tannin-based products in different regions may also hinder market expansion. Despite these restraints, the overall outlook remains positive, driven by continuous innovation and the shift towards sustainable and natural products.

Concentration Insights

The tannin market exhibits a moderate level of concentration, with a mix of large multinational corporations and specialized regional players dominating the landscape. Key companies such as Ajinomoto OmniChem, Tannin Corporation, Silva Team, and Ever s.r.l. have established strong market presence through extensive product portfolios and strategic partnerships. These players focus on vertical integration, controlling everything from raw material sourcing to final product distribution, which enhances their competitive edge. The market also features several small and medium-sized enterprises that cater to niche segments, particularly in organic and specialty tannin products. Geographically, concentration is higher in regions with abundant raw material sources, such as South America for quebracho tannin and Europe for grape seed tannin. Mergers and acquisitions are common strategies employed by leading companies to expand their market share and technological capabilities. This concentration dynamic fosters a competitive environment that drives innovation and quality improvements, benefiting end-users across various industries.

Type Insights

Tannins are categorized into several types based on their source and chemical structure, with hydrolysable tannins and condensed tannins being the primary classifications. Hydrolysable tannins, derived from sources such as chestnut and oak galls, are known for their ease of extraction and application in the food and beverage industry as clarifiers and stabilizers. Condensed tannins, sourced from plants like quebracho and grape seeds, are valued for their strong astringency and are widely used in wine production and leather tanning. Another emerging category is phlorotannins, obtained from brown algae, which are gaining attention for their unique bioactive properties. Each type offers distinct functional benefits, influencing their adoption across different applications. The choice of tannin type depends on factors such as desired functionality, compatibility with other ingredients, and regulatory approvals. Ongoing research is focused on discovering new sources and optimizing extraction techniques to enhance the efficacy and versatility of various tannin types, thereby expanding their application scope.

Application Insights

Tannins find diverse applications across the food and beverages industry, leveraging their natural properties for multiple functional roles. In wine production, tannins are indispensable for imparting structure, complexity, and aging potential, making them a critical component in oenology. The beverage sector utilizes tannins in teas, juices, and functional drinks to enhance flavor profiles and provide health benefits. In food processing, tannins serve as natural preservatives and antioxidants, extending shelf life and maintaining product quality. They are also used as clarifying agents in beers and wines to improve clarity and stability. Beyond food and beverages, tannins are employed in the pharmaceutical industry for their therapeutic properties, including anti-diabetic and anti-cancer effects. The cosmetics industry incorporates tannins in skincare products for their astringent and anti-aging benefits. Each application demands specific tannin formulations, driving innovation and customization in product development to meet industry-specific requirements.

Regional Insights

The tannin market demonstrates varied growth patterns across different regions, influenced by local industries, consumer preferences, and regulatory frameworks. Europe stands as a dominant region, driven by its robust wine industry and high demand for natural food additives. Countries like France, Italy, and Spain are key contributors, with extensive production and consumption of tannin-based products. North America follows, with significant demand from the food and beverage sector, particularly in the United States, where health and wellness trends propel the adoption of tannins. The Asia-Pacific region is experiencing rapid growth, fueled by increasing disposable incomes, urbanization, and a shift towards natural ingredients in countries like China, India, and Japan. South America, rich in tannin raw materials such as quebracho, plays a crucial role as a supplier to global markets. Each region presents unique opportunities and challenges, shaped by cultural, economic, and environmental factors, necessitating tailored strategies for market penetration and expansion.

Company Insights

Leading companies in the tannin market are characterized by their innovative approaches, extensive research capabilities, and strategic market initiatives. Ajinomoto OmniChem is renowned for its high-quality tannin products and focus on sustainable sourcing. Tannin Corporation leverages its expertise in tannin chemistry to offer customized solutions for various industries. Silva Team emphasizes organic and natural tannin extracts, catering to the growing demand for clean-label products. Ever s.r.l. specializes in tannins for the wine industry, providing products that enhance wine quality and stability. Other notable players include Laffort, Enartis, and Esseco Group, each contributing to the market through specialized applications and technological advancements. These companies invest heavily in research and development to explore new sources and applications, ensuring they remain competitive. Partnerships with academic institutions and industry collaborators are common, fostering innovation and knowledge exchange. The competitive landscape is dynamic, with companies continuously adapting to market trends and consumer demands.

Recent Developments

The tannin market has witnessed several recent developments that reflect its evolving nature and growth potential. Companies are increasingly investing in sustainable and eco-friendly extraction methods to reduce environmental impact and meet regulatory standards. Innovations in microencapsulation technology have enhanced the stability and efficacy of tannin-based products, expanding their application in functional foods and pharmaceuticals. Strategic acquisitions and partnerships are prevalent, such as collaborations between tannin producers and research institutions to explore new bioactive properties and applications. The emergence of tannins from novel sources, like seaweed and agricultural waste, is gaining traction, offering new opportunities for market expansion. Regulatory approvals for tannin use in new geographic regions and applications are also significant, facilitating market growth. Additionally, advancements in analytical techniques have improved the characterization and quality control of tannin products, ensuring consistency and safety. These developments collectively contribute to the market's dynamism and future prospects.

Report Segmentation

The tannin market report is segmented to provide a comprehensive analysis of various aspects influencing the industry. Segmentation by type includes hydrolysable tannins, condensed tannins, and phlorotannins, each examined for their market share, growth trends, and application potential. By application, the report covers food and beverages, pharmaceuticals, cosmetics, and leather processing, detailing the specific uses and demand drivers in each sector. Geographic segmentation breaks down the market into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, highlighting regional dynamics, key players, and growth opportunities. Additional segments may include source-based categorization, such as plant-derived and algae-derived tannins, and end-user analysis focusing on industrial versus consumer applications. This multi-faceted segmentation enables stakeholders to gain nuanced insights into market trends, competitive landscape, and future prospects, facilitating informed decision-making and strategic planning.

FAQs

What are tannins? Tannins are natural polyphenolic compounds found in plants, fruits, and barks, known for their astringent properties and widespread use in food, beverages, and other industries.

What are the health benefits of tannins? Tannins offer several health benefits, including antioxidant, anti-inflammatory, and antimicrobial properties, which contribute to cardiovascular health and overall wellness.

How are tannins used in the food industry? In the food industry, tannins are used as natural preservatives, flavor enhancers, and clarifying agents, particularly in wines, teas, and functional foods.

What is the difference between hydrolysable and condensed tannins? Hydrolysable tannins are easily broken down and are often used in food stabilization, while condensed tannins are more resistant and valued for their strong astringency in applications like wine and leather tanning.

Are tannins bad for you? While tannins are generally safe and beneficial in moderate amounts, excessive consumption may lead to digestive issues or nutrient absorption interference, but they are widely regarded as safe for use in regulated quantities.

Citius Research has developed a research report titled “Tannin 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

• Tannin 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 Tannin 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.

Tannin Market Segmentation

Market Segmentation

Regions Covered

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

Tannin Market Analysis

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

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

Tannin Market Key Stakeholders

Below are the key stakeholders for the Tannin Market:

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

Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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 Tannin 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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