Duffles Travel Bag Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0193177
  • Format: Electronic (PDF)
  • Number of Pages: 187
  • Author(s): Joshi, Madhavi

Report Overview

The Duffles Travel Bag Market size was estimated at USD 4.5 billion in 2023 and is projected to reach USD 7.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024-2030).

Duffles Travel Bag Market

(Market Size)
$4.5 billion
$7.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.80%
2023 Market Size USD 4.5 billion
2030 Market Size USD 7.5 billion
Key Players Samsonite, Nike, Adidas, JanSport, Osprey

Market Summary

The duffles travel bag market is a significant segment within the broader consumer goods industry, characterized by steady demand driven by global travel trends and evolving consumer lifestyles. These bags are valued for their versatility, durability, and suitability for various travel scenarios, ranging from short business trips to extended leisure travel. The market is highly competitive, with numerous players offering products that cater to diverse consumer preferences, including differences in size, material, design, and functionality. Innovation remains a key focus, with manufacturers increasingly integrating smart features, sustainable materials, and ergonomic designs to enhance user experience and align with modern environmental and technological expectations. The market benefits from the growing emphasis on travel and mobility, though it is also sensitive to economic fluctuations and changes in consumer spending patterns. Overall, the duffles travel bag market demonstrates resilience and adaptability, continuously evolving to meet the dynamic needs of travelers worldwide.

Key Highlights

The duffles travel bag market is distinguished by several key highlights that underscore its current trajectory and consumer appeal. There is a pronounced shift towards the use of sustainable and eco-friendly materials, such as recycled polyester and organic fabrics, as environmental consciousness influences purchasing decisions. Technological integration is another standout feature, with leading brands incorporating elements like GPS tracking, USB charging ports, and smart locks to enhance convenience and security. Customization and personalization have gained traction, allowing consumers to tailor bags to their specific needs and style preferences. The market also sees strong influence from e-commerce platforms, which have expanded accessibility and provided consumers with a wider range of options and competitive pricing. Additionally, the rise of athleisure and multi-functional travel gear has blurred the lines between sport and casual use, driving demand for versatile duffle bags that serve multiple purposes. These highlights collectively reflect a market that is responsive to innovation, sustainability, and changing consumer behaviors.

Drivers, Opportunities & Restraints

The duffles travel bag market is propelled by several key drivers, including increasing global travel activities, rising disposable incomes, and growing consumer interest in durable and functional luggage solutions. The expansion of the travel and tourism industry, coupled with the rising trend of frequent short trips and business travel, significantly boosts demand. Opportunities abound in the development of innovative products that incorporate advanced materials and smart technologies, catering to tech-savvy and environmentally conscious consumers. Emerging markets present substantial growth potential due to urbanization and increasing adoption of travel lifestyles. However, the market faces restraints such as intense competition, which pressures pricing and margins, and economic downturns that can reduce discretionary spending on travel accessories. Fluctuations in raw material costs also pose challenges to manufacturing consistency and profitability. Despite these restraints, the ongoing innovation and adaptation to consumer needs continue to drive the market forward, offering avenues for growth and differentiation.

Concentration Insights

The duffles travel bag market features a concentrated competitive landscape with several established players and a multitude of smaller brands vying for market share. Leading companies such as Samsonite, VF Corporation, and Nike dominate through strong brand recognition, extensive distribution networks, and continuous product innovation. These players often leverage their global presence and marketing prowess to maintain competitive advantage. The market also includes specialized brands like Patagonia and The North Face, which focus on niche segments such as outdoor and adventure travel. Regional players contribute to market diversity by addressing local preferences and price sensitivities. Concentration is particularly evident in North America and Europe, where major brands have significant influence, while Asia-Pacific shows a more fragmented structure with numerous local manufacturers. Mergers and acquisitions are common strategies for growth and market expansion, allowing companies to enhance their product portfolios and geographic reach. This concentration dynamics underscore the importance of brand strength, innovation, and strategic positioning in achieving market success.

Type Insights

The duffles travel bag market is segmented by type, primarily into casual duffle bags, travel duffle bags, sports duffle bags, and others, each catering to distinct consumer needs and usage scenarios. Casual duffle bags are popular for everyday use and short trips, valued for their lightweight design and ease of carry. Travel duffle bags are designed for more extended journeys, often featuring enhanced durability, multiple compartments, and wheels for improved mobility. Sports duffle bags are tailored for athletic purposes, with specialized compartments for equipment, ventilation features, and robust materials to withstand rigorous use. Other types include premium and designer duffle bags that emphasize aesthetics and luxury materials. Material variations also play a critical role, with options ranging from traditional nylon and polyester to advanced materials like ballistic nylon and eco-friendly alternatives. The diversity in types allows manufacturers to target specific consumer segments effectively, driving innovation and differentiation within the market.

Application Insights

Duffles travel bags serve various applications, including personal travel, business travel, sports activities, and adventure travel, each demanding specific features and functionalities. For personal travel, consumers seek bags that offer ample storage, organizational compartments, and ease of transport, often preferring versatile designs suitable for multiple trip types. Business travel applications emphasize professional aesthetics, durability, and features like laptop sleeves and document organizers to accommodate work-related needs. Sports applications require bags with dedicated sections for equipment, moisture-resistant materials, and ergonomic designs for comfort during transport. Adventure travel demands rugged, weather-resistant duffle bags capable of enduring harsh conditions and protecting contents. The growing trend of multi-purpose use has led to the development of hybrid bags that blend elements from different applications, offering greater flexibility. Understanding these application-specific requirements is crucial for manufacturers to design products that meet the precise needs of diverse user groups, thereby enhancing market relevance and consumer satisfaction.

Regional Insights

The duffles travel bag market exhibits distinct regional characteristics influenced by economic conditions, travel patterns, and consumer preferences. North America represents a significant market, driven by high travel frequency, strong brand presence, and consumer willingness to invest in premium products. Europe follows closely, with demand fueled by both business and leisure travel, alongside a growing emphasis on sustainable and stylish luggage options. The Asia-Pacific region is experiencing rapid growth due to increasing disposable incomes, urbanization, and expanding tourism infrastructure, particularly in countries like China and India. Latin America and the Middle East & Africa are emerging markets, where rising travel activities and economic development are gradually boosting demand. Regional preferences also vary; for instance, North American consumers often prioritize functionality and innovation, while European markets may place greater emphasis on design and sustainability. These regional insights highlight the importance of tailored strategies to address local market dynamics and capitalize on growth opportunities across different geographies.

Company Insights

Prominent companies in the duffles travel bag market include Samsonite International, VF Corporation, Nike, Adidas, and Under Armour, among others. Samsonite is renowned for its extensive range of travel-focused duffle bags, leveraging its global distribution and reputation for durability. VF Corporation, through brands like The North Face and JanSport, offers products that appeal to outdoor enthusiasts and casual users alike. Nike and Adidas dominate the sports segment, providing high-performance bags designed for athletes and fitness consumers. Under Armour emphasizes innovation with features such as water-resistant materials and specialized compartments. Other key players include Herschel Supply Co., known for its trendy designs, and Patagonia, which focuses on sustainability and environmental responsibility. These companies invest heavily in research and development to introduce advanced materials and smart technologies, maintaining their competitive edge. Strategic marketing, brand collaborations, and e-commerce optimization are critical components of their growth strategies, enabling them to reach diverse consumer bases and reinforce market presence.

Recent Developments

Recent developments in the duffles travel bag market reflect ongoing innovation and strategic movements aimed at capturing consumer interest and enhancing market position. Leading companies have launched new product lines incorporating sustainable materials, such as recycled plastics and organic fabrics, responding to growing environmental concerns. Technological advancements continue to emerge, with introductions like integrated tracking devices, solar-powered charging panels, and improved security features becoming more prevalent. Collaborations between luggage brands and technology firms or designers have resulted in limited-edition collections that blend functionality with high fashion. Additionally, there has been a noticeable increase in direct-to-consumer sales channels, with brands strengthening their online presence and leveraging social media for marketing and engagement. Acquisitions and partnerships remain common, as companies seek to expand their product portfolios and geographic reach. These developments indicate a market that is dynamic and responsive to trends, with a strong focus on sustainability, technology, and consumer connectivity driving future growth.

Report Segmentation

This report on the duffles travel bag market provides a comprehensive analysis segmented by type, application, and region to offer detailed insights into market dynamics and trends. The type segmentation includes casual duffle bags, travel duffle bags, sports duffle bags, and other specialized categories, each examined for their market share, growth potential, and consumer adoption. Application segmentation covers personal travel, business travel, sports activities, adventure travel, and other uses, highlighting specific?? and feature preferences within each segment. Regional segmentation encompasses North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, analyzing regional market sizes, growth rates, and key influencing factors. The report also delves into material insights, discussing the prevalence and trends of materials such as nylon, polyester, leather, and eco-friendly alternatives. This structured segmentation enables a thorough understanding of market components, facilitating strategic decision-making for stakeholders by identifying opportunities and challenges across different segments and regions.

FAQs

What are the popular materials used in duffle travel bags? Popular materials include nylon, polyester, leather, and canvas, with a growing trend towards sustainable options like recycled fabrics and organic materials.

Which brands are leading in the duffle travel bag market? Leading brands include Samsonite, Nike, Adidas, The North Face, Under Armour, and Herschel Supply Co., known for their quality and innovation.

What features should I look for in a duffle travel bag? Key features include durability, ample storage compartments, comfortable handles or straps, weather resistance, and additional elements like wheels or tech integrations.

How do I choose the right size duffle bag for travel? Consider the duration of your trip and the amount of gear needed; smaller bags suit short trips, while larger ones are ideal for extended travel or sports equipment.

Are there eco-friendly duffle travel bags available? Yes, many brands now offer eco-friendly options made from recycled materials, organic fabrics, and sustainable production processes.

What is the average price range for quality duffle travel bags? Prices vary widely based on brand and features, ranging from affordable options under $50 to high-end models exceeding $200, with premium materials and technology influencing cost.

Citius Research has developed a research report titled “Duffles Travel Bag 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

• Duffles Travel Bag 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 Duffles Travel Bag 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.

Duffles Travel Bag Market Segmentation

Market Segmentation

Regions Covered

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

Duffles Travel Bag Market Analysis

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

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

Duffles Travel Bag Market Key Stakeholders

Below are the key stakeholders for the Duffles Travel Bag Market:

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

Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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 Duffles Travel Bag 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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