Bakery Enzymes 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: CR0194945
  • Format: Electronic (PDF)
  • Number of Pages: 211
  • Author(s): Joshi, Madhavi

Report Overview

The Bakery Enzymes Market size was estimated at USD 450 million in 2023 and is projected to reach USD 1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

Bakery Enzymes Market

(Market Size)
$450 million
$1 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.00%
2023 Market Size USD 450 million
2030 Market Size USD 1 billion
Key Players Novozymes, DuPont, DSM, AB Enzymes, Amano Enzyme

Market Summary

The bakery enzymes market is a specialized segment within the broader food and beverage industry, focusing on the development, production, and application of enzymes specifically designed for baking processes. These enzymes are biological catalysts that enhance dough handling, improve texture, extend shelf life, and enable cleaner labels by reducing the need for chemical additives. The market is characterized by a high degree of innovation, driven by the demand for improved bakery products and more efficient production methods. Key players are continuously investing in research to develop novel enzyme solutions that cater to evolving consumer preferences for natural and sustainable ingredients. The market operates globally, serving large-scale industrial bakeries, artisanal bakeries, and food processing companies. The integration of enzyme technology is becoming a standard practice for quality enhancement and cost optimization in modern baking, making it a critical area for stakeholders across the value chain.

Key Highlights

The bakery enzymes market is distinguished by several key factors that underscore its importance and growth trajectory. A primary highlight is the pivotal role enzymes play in enabling the production of gluten-free and high-fiber bakery products, addressing the rising consumer demand for healthier and specialty baked goods. The technological advancements in enzyme engineering have led to the creation of more stable and effective formulations that perform consistently under various baking conditions. Another significant aspect is the strategic focus of leading companies on expanding their product portfolios through both organic innovation and strategic acquisitions to capture a larger market share. The market is also witnessing a trend towards multifunctional enzyme blends that can simultaneously address multiple challenges in baking, such as volume improvement, crumb softening, and anti-staling. Furthermore, the push for clean-label products across the food industry is a major driver, as enzymes are recognized as natural processing aids that can replace synthetic emulsifiers and preservatives.

Drivers, Opportunities & Restraints

The growth of the bakery enzymes market is propelled by a combination of powerful drivers, promising opportunities, and notable restraints. A primary driver is the increasing global consumption of bakery products, coupled with rising consumer awareness regarding food quality and ingredient transparency. The demand for longer shelf life without compromising on freshness or taste is pushing bakeries to adopt enzyme-based solutions. Significant opportunities exist in the development of enzymes for emerging bakery segments, such as organic, vegan, and allergen-free products, which are gaining substantial consumer traction. The expansion of retail channels and the growth of the food service industry in developing economies also present lucrative avenues for market expansion. However, the market faces restraints, including the high cost associated with research and development of novel enzymes and the stringent regulatory frameworks governing food additives and processing aids across different regions. Additionally, a lack of awareness among small-scale bakers about the benefits and applications of enzymes can hinder market penetration in certain segments.

Concentration Insights

The competitive landscape of the bakery enzymes market is characterized by a high level of concentration, with a few multinational corporations holding a significant portion of the global market share. Companies such as Novozymes, DuPont, DSM, and AB Enzymes are recognized as industry leaders, commanding influence through their extensive product portfolios, robust research and development capabilities, and strong global distribution networks. These established players compete intensely on the basis of product innovation, efficacy, and technical support services offered to their customers. The market also features several smaller, specialized companies that focus on niche applications or regional markets, often competing by offering tailored solutions. This concentration means that innovation and market strategies are largely driven by the activities of these key players, including their investments in biotechnology and partnerships with bakery ingredient suppliers. The high barriers to entry, including the need for significant capital investment and regulatory expertise, further reinforce this concentrated structure.

Type Insights

The bakery enzymes market is segmented by type, with carbohydrases, proteases, and lipases being the predominant categories. Carbohydrases, which include amylases and xylanases, are the most widely used enzyme type. Amylases are crucial for fermentable sugar production, which aids in fermentation and crust coloring, while xylanases improve dough machinability and loaf volume. Proteases are employed to modify gluten strength, making the dough more pliable and easier to handle, which is particularly beneficial for biscuit and cookie production. Lipases function to strengthen gluten networks and can also generate emulsifiers in situ, leading to improved dough stability and softer crumb texture. Other specialized enzymes, such as glucose oxidase and transglutaminase, are used for specific functions like dough strengthening and protein cross-linking. The choice of enzyme type is highly dependent on the desired outcome in the final baked product, and formulators often use complex blends to achieve multiple functional benefits simultaneously.

Application Insights

Enzymes find diverse applications across the entire spectrum of bakery products, each with specific functional requirements. In bread making, enzymes are indispensable for improving volume, creating a uniform crumb structure, and significantly delaying staling, which extends the product's shelf life. The cakes and pastries segment utilizes enzymes to achieve a tender and soft texture, ensure adequate aeration, and maintain moisture content. For biscuits and cookies, enzymes help in controlling spread, achieving the desired texture, and reducing cracking. The growing market for specialty products, such as gluten-free breads, relies heavily on enzyme technology to mimic the viscoelastic properties of gluten and provide acceptable product quality. Furthermore, enzymes are increasingly used in frozen dough applications to combat the challenges of yeast viability and dough weakening during freeze-thaw cycles, ensuring consistent performance after thawing and baking.

Regional Insights

The demand for bakery enzymes exhibits distinct regional patterns influenced by dietary habits, industrialization of the baking sector, and regulatory environments. North America and Europe represent mature markets with high adoption rates, driven by a well-established baking industry, strong consumer demand for high-quality and innovative products, and stringent regulations promoting cleaner labels. The Asia-Pacific region is identified as the fastest-growing market, fueled by rapid urbanization, changing lifestyles, and the expansion of Western-style bakery chains in countries like China, India, and Japan. Latin America and the Middle East and Africa are emerging markets with growing potential, as economic development leads to increased consumption of processed and packaged bakery foods. However, growth in these regions can be uneven, affected by economic volatility and varying levels of infrastructure development within the food processing industry.

Company Insights

The bakery enzymes market is dominated by a cohort of leading biotechnology and ingredient companies that have established a strong global presence. Novozymes A/S from Denmark is often regarded as a market pioneer and innovator, offering a comprehensive range of enzyme solutions. E.I. du Pont de Nemours and Company (DuPont) through its Nutrition & Biosciences division provides advanced enzyme technologies backed by extensive R&D. Royal DSM N.V. of the Netherlands is another key player, known for its sustainable and innovative product offerings. Germany-based AB Enzymes GmbH specializes in enzyme solutions for various industries, including baking. Other notable participants include Amano Enzyme Inc., Kerry Group, and Puratos Group, each contributing to the market with specialized products and technical expertise. These companies compete not only on product quality but also on their ability to provide application-specific technical support and sustainable sourcing credentials.

Recent Developments

The bakery enzymes market is dynamic, with recent developments centered on innovation, sustainability, and strategic corporate movements. Leading companies have launched several novel enzyme products designed to address specific challenges, such as complete replacement of emulsifiers or enabling sugar reduction in baked goods. There has been a marked increase in activities related to mergers, acquisitions, and partnerships, as firms seek to bolster their technological capabilities and expand their geographical footprint. For instance, the acquisition of certain businesses by major players has been observed to enhance their enzyme portfolios. Sustainability initiatives have also come to the forefront, with companies investing in the development of production processes that reduce energy and water consumption. Furthermore, collaboration between enzyme manufacturers and bakery giants for co-development of customized solutions is a trending activity, highlighting a move towards more integrated and application-focused innovation.

Report Segmentation

This market research report on the bakery enzymes market provides a detailed and structured analysis through a methodical segmentation approach. The market is segmented based on type, which includes major categories such as carbohydrases, proteases, lipases, and other specialized enzymes. Another critical segmentation is by application, covering key product categories like bread, rolls & buns, cakes & pastries, cookies & biscuits, and other bakery products. The report also offers a geographical segmentation, providing in-depth analysis for key regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Furthermore, the competitive landscape is segmented to provide insights into the market share, product offerings, and business strategies of key players as well as emerging companies. This multi-dimensional segmentation allows for a comprehensive understanding of market dynamics, trends, and opportunities specific to each segment.

FAQs

What are the main types of enzymes used in baking? The primary types of enzymes used in the baking industry are carbohydrases (including amylases and xylanases), proteases, and lipases. Each type serves a distinct purpose, such as improving dough handling, enhancing volume, softening crumb, or extending shelf life.

How do enzymes improve the shelf life of bread? Enzymes like amylases and xylanases work by retarding the staling process, which is the recrystallization of starch. This helps maintain the softness and freshness of bread for a longer duration, effectively extending its shelf life without the need for artificial preservatives.

What is driving the growth of the bakery enzymes market? Key growth drivers include rising global consumption of bakery products, increasing consumer demand for clean-label and natural ingredients, the need for extended shelf life, and the growing popularity of specialty baked goods like gluten-free and high-fiber products.

Which region has the highest demand for bakery enzymes? Currently, Europe and North America are regions with high demand due to mature baking industries and strict regulations. However, the Asia-Pacific region is experiencing the fastest growth, driven by urbanization and changing dietary patterns.

Who are the leading companies in the bakery enzymes market? The market is led by global biotechnology firms such as Novozymes, DuPont, DSM, and AB Enzymes. These companies are known for their extensive research, broad product portfolios, and strong technical support services for the baking industry.

Citius Research has developed a research report titled “Bakery Enzymes 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

• Bakery Enzymes 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 Bakery Enzymes 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.

Bakery Enzymes Market Segmentation

Market Segmentation

Regions Covered

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

Bakery Enzymes Market Analysis

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

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

Bakery Enzymes Market Key Stakeholders

Below are the key stakeholders for the Bakery Enzymes Market:

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

Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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 Bakery Enzymes 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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