Massage Oil 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: CR0192876
  • Format: Electronic (PDF)
  • Number of Pages: 206
  • Author(s): Joshi, Madhavi

Report Overview

The Massage Oil Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.00% during the forecast period (2024-2030).

Massage Oil Market

(Market Size)
$3.2 billion
$8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 14.00%
2023 Market Size USD 3.2 billion
2030 Market Size USD 8 billion
Key Players Biotone, Bon Vital’, The Body Shop, Aura Cacia, Ancient Cosmetics

Market Summary

The massage oil market is an integral segment within the consumer goods industry, characterized by steady demand driven by increasing consumer focus on wellness and self-care routines. This market caters to both professional spa and at-home usage, with products designed to enhance the therapeutic benefits of massage through various formulations. Key factors influencing the market include the growing popularity of aromatherapy, rising disposable incomes, and heightened awareness regarding the advantages of regular massage for stress relief and muscle recovery. The market sees participation from numerous established brands and new entrants, all competing on the basis of product quality, ingredient sourcing, and brand positioning. Distribution channels are diverse, spanning online e-commerce platforms, specialty stores, supermarkets, and direct sales, ensuring wide accessibility for end-users. Innovation remains a central theme, with companies investing in research to develop oils with organic, natural, and ethically sourced ingredients to meet evolving consumer preferences for sustainable and health-conscious products.

Key Highlights

The massage oil market is distinguished by several key highlights that underscore its dynamic nature and growth potential. There is a pronounced shift towards the use of natural and organic ingredients, as consumers increasingly avoid synthetic additives and parabens, favoring products with transparent labeling. The integration of essential oils for aromatherapy benefits is a significant trend, enhancing the holistic appeal of massage oils. Product diversification is evident, with offerings tailored for specific purposes such as deep tissue massage, relaxation, and sports recovery. Branding and marketing strategies heavily emphasize wellness and lifestyle alignment, targeting health-conscious demographics. The market also benefits from the expansion of the spa and wellness industry globally, which drives consistent demand from professional segments. Additionally, e-commerce has emerged as a critical sales channel, providing consumers with easy access to a wide range of products and detailed information, further stimulating market expansion and consumer engagement.

Drivers, Opportunities & Restraints

Several drivers propel the massage oil market forward, including the increasing consumer inclination towards preventive healthcare and holistic wellness practices. The rising prevalence of stress-related disorders and musculoskeletal issues has amplified the demand for massage therapies, thereby boosting the need for high-quality massage oils. Growth in disposable income, especially in emerging economies, allows consumers to spend more on premium personal care products. Opportunities abound in the development of innovative formulations, such as oils with CBD or other therapeutic compounds, and expansion into untapped geographic markets. The trend towards personalized and gender-specific products also presents significant growth avenues. However, the market faces restraints including volatility in the prices of raw materials like essential oils and carrier oils, which can impact production costs and profit margins. Regulatory challenges and the need for compliance with varying international standards for cosmetic products may also hinder market growth. Additionally, competition from alternative massage products like creams and lotions poses a challenge to market penetration.

Concentration Insights

The competitive landscape of the massage oil market is moderately concentrated, with a mix of large multinational corporations and smaller niche players. Leading companies such as Johnson & Johnson, Bon Vital', and The Body Shop hold significant market shares due to their extensive distribution networks, strong brand recognition, and diverse product portfolios. These established players often engage in strategic initiatives including mergers, acquisitions, and partnerships to strengthen their market position and expand their consumer base. Meanwhile, smaller and regional companies focus on catering to specific consumer preferences, such as organic, vegan, or locally sourced products, allowing them to carve out dedicated market segments. The market also sees the presence of private label brands offered by retail chains, which compete on price and accessibility. Overall, innovation, brand loyalty, and effective supply chain management are critical factors determining competitive advantage in this market.

Type Insights

Massage oils are categorized based on their base ingredients and intended use, with prominent types including almond oil, coconut oil, olive oil, and jojoba oil. Almond oil is widely favored for its mild scent and excellent absorption properties, making it suitable for various massage techniques. Coconut oil is popular for its moisturizing benefits and natural aroma, often used in tropical and relaxing massage therapies. Olive oil, known for its richness in antioxidants, is commonly utilized in deeper tissue massages. Jojoba oil closely resembles the skin's natural oils, providing enhanced compatibility and is frequently chosen for sensitive skin applications. Additionally, there are specialized blends that incorporate essential oils like lavender, eucalyptus, or tea tree, which offer aromatherapy advantages alongside physical benefits. The choice of oil type often depends on the specific massage purpose, skin type, and desired therapeutic outcomes, driving continuous product innovation and segmentation within the market.

Application Insights

Massage oils find applications across multiple settings, primarily in spas and wellness centers, where they are used by professionals to facilitate various massage therapies such as Swedish, deep tissue, and hot stone massages. The therapeutic benefits offered, including improved blood circulation, muscle relaxation, and stress reduction, make these oils indispensable in professional contexts. At-home usage constitutes another significant application segment, driven by consumers seeking convenient and cost-effective ways to incorporate wellness practices into their daily routines. The rise of self-massage tools and online tutorials has further supported this trend. Additionally, massage oils are utilized in medical and therapeutic environments to aid in physical rehabilitation and pain management. The growing adoption of aromatherapy practices has also expanded their application into mental wellness and emotional balance routines. Each application segment demands specific product attributes, influencing formulation strategies and marketing approaches within the industry.

Regional Insights

The massage oil market demonstrates varied dynamics across different regions, influenced by cultural practices, economic conditions, and consumer lifestyles. North America and Europe are mature markets, characterized by high consumer awareness, well-established spa industries, and a strong preference for organic and natural products. These regions see significant demand driven by proactive health management and high disposable incomes. The Asia Pacific region is experiencing rapid growth, fueled by increasing urbanization, rising wellness tourism, and growing adoption of Western self-care practices. Countries like China, India, and Japan are key contributors, with expanding middle-class populations willing to spend on premium personal care items. Latin America and the Middle East & Africa are emerging markets, where growing awareness and economic development are gradually boosting product penetration. Regional preferences also play a role; for example, warmer climates may favor lighter oil formulations, while cultural traditions influence scent preferences and usage patterns.

Company Insights

Prominent companies in the massage oil market include Johnson & Johnson, which offers a range of trusted products under its widely recognized brand. Bon Vital' is another key player, specializing in massage and bodywork products with a focus on professional use. The Body Shop is renowned for its ethically sourced and natural ingredient-based offerings, appealing to environmentally conscious consumers. Other significant participants include Biotone, known for its innovative formulations tailored for therapists, and Natural Touch, which emphasizes organic and vegan products. These companies invest heavily in research and development to create efficacious and safe products, while also engaging in strategic marketing to build brand loyalty. Distribution strategies encompass both offline channels like specialty stores and spas, and online platforms to maximize reach. Competitive differentiation is often achieved through product quality, ingredient transparency, sustainability initiatives, and effective customer engagement.

Recent Developments

The massage oil market has witnessed several recent developments reflecting evolving consumer trends and competitive strategies. There has been a notable increase in the launch of products featuring CBD and other cannabinoids, capitalizing on their perceived therapeutic benefits for pain and anxiety relief. Sustainability has become a focal point, with companies adopting eco-friendly packaging, reducing plastic use, and promoting refill options to minimize environmental impact. Formulation innovations continue, with a emphasis on hypoallergenic and non-comedogenic properties to cater to consumers with sensitive skin. Strategic collaborations between massage oil brands and wellness influencers or spas have enhanced product visibility and credibility. Additionally, advancements in digital marketing, including social media campaigns and educational content about massage techniques, have helped brands connect more effectively with their target audiences. These developments indicate a market that is responsive to consumer needs and committed to continuous improvement.

Report Segmentation

This comprehensive market report on massage oil provides detailed segmentation to offer nuanced insights into various aspects of the industry. The segmentation is based on type, which includes categories such as almond oil, coconut oil, olive oil, jojoba oil, and other specialty blends. Application segmentation covers professional use in spas and wellness centers, medical/therapeutic applications, and personal/home use. Geographic segmentation breaks down the market into key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with further analysis of major countries within each region. Additional segmentation may consider distribution channels, including online retail, specialty stores, supermarkets/hypermarkets, and direct sales. This structured approach allows for a thorough understanding of market dynamics, consumer behavior, and growth opportunities across different segments, enabling stakeholders to make informed strategic decisions.

FAQs

What are the benefits of using massage oil? Massage oils provide several benefits including enhanced skin hydration, reduced friction during massage, improved blood circulation, muscle relaxation, and stress relief. Many oils also offer aromatherapy advantages through essential oil blends.

Which massage oil is best for sensitive skin? For sensitive skin, hypoallergenic and non-comedogenic oils such as jojoba oil, almond oil, or fractionated coconut oil are often recommended due to their gentle properties and similarity to the skin's natural oils.

How to choose the right massage oil? Choosing the right massage oil depends on factors like skin type, desired therapeutic effects, scent preferences, and any allergies. Consider lighter oils for general use and richer oils for deeper tissue work.

Can massage oil be used for hair? Certain massage oils, such as coconut oil or almond oil, are beneficial for hair care, providing moisture, reducing frizz, and promoting scalp health when used appropriately.

What is the difference between massage oil and massage lotion? Massage oil typically provides more glide and is longer-lasting, making it ideal for extended sessions, while massage lotion absorbs faster and leaves less residue, suitable for quicker treatments.

Are there any side effects of massage oil? Side effects are rare but can include skin irritation or allergic reactions, especially with synthetic fragrances or certain essential oils. Patch testing is advisable for those with sensitive skin.

Citius Research has developed a research report titled “Massage Oil 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

• Massage Oil 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 Massage Oil 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.

Massage Oil Market Segmentation

Market Segmentation

Regions Covered

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

Massage Oil Market Analysis

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

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

Massage Oil Market Key Stakeholders

Below are the key stakeholders for the Massage Oil Market:

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

Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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For further details request a free sample copy of this report here.
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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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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 Massage Oil 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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