Chewing Gum Base 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: CR0195067
  • Format: Electronic (PDF)
  • Number of Pages: 179
  • Author(s): Joshi, Madhavi

Report Overview

The Chewing Gum Base Market size was estimated at USD 1.8 billion in 2023 and is projected to reach USD 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

Chewing Gum Base Market

(Market Size)
$1.8 billion
$4 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 1.8 billion
2030 Market Size USD 4 billion
Key Players Mondelez, Mars, Perfetti Van Melle, Lotte, Hershey

Market Summary

The chewing gum base market is a critical segment within the global food and beverages industry, serving as the foundational non-nutritive component that provides the insoluble, chewy matrix for all chewing gum products. This market is intrinsically linked to the confectionery sector, with its dynamics influenced by evolving consumer preferences, manufacturing advancements, and regulatory frameworks across different geographies. The base itself is a complex blend of elastomers, resins, fats, emulsifiers, and waxes, which together determine the texture, shelf stability, and chewing characteristics of the final gum. Key industry participants are engaged in the production and supply of this base material to major gum manufacturers worldwide, facilitating a diverse range of products from traditional sugared gums to modern functional and sugar-free variants. The market operates within a well-established supply chain, from raw material procurement to the delivery of customized base formulations. Innovation remains a central theme, with manufacturers focusing on developing advanced bases that cater to new flavor delivery systems, extended longevity, and clean-label trends. The overall health of this market is a reliable indicator of confectionery consumption patterns and disposable income levels in both developed and emerging economies.

Key Highlights

The chewing gum base market is characterized by several defining features that underscore its importance and trajectory. A primary highlight is the persistent innovation in ingredient technology, where manufacturers are developing synthetic and natural bases that enhance chew quality and flavor retention while addressing consumer demand for non-GMO and allergen-free products. The market demonstrates a high degree of specialization, with companies offering tailored solutions for bubble gum, chewing gum, and functional gum applications, each requiring distinct texture and elasticity profiles. Another significant aspect is the consolidation of the supply side, where a limited number of global players command a substantial market share, creating an environment with high barriers to entry due to the capital-intensive nature of production and the need for extensive research and development capabilities. The shift towards sugar-free gum, driven by global health and wellness trends, has been a major catalyst, prompting base producers to innovate formulations that work optimally with high-intensity sweeteners and active functional ingredients like vitamins or teeth-whitening agents. Furthermore, sustainability has emerged as a critical focus area, with efforts directed towards creating biodegradable gum base materials to mitigate environmental concerns associated with gum disposal.

Drivers, Opportunities & Restraints

The growth of the chewing gum base market is propelled by a confluence of drivers, primarily the robust demand for sugar-free and functional chewing gums from health-conscious consumers globally. This demand is further amplified by increasing awareness of oral health benefits associated with sugar-free alternatives, such as plaque reduction and saliva production, which aid in neutralizing acids in the mouth. The expansion of modern retail formats and e-commerce channels in emerging economies also provides easier access to a wider variety of gum products, thereby stimulating upstream demand for gum base. Significant opportunities lie in the development of novel bases that support innovative product categories, such as gum with nutraceutical properties for energy, focus, or relaxation, tapping into the burgeoning wellness market. There is also a substantial opportunity in creating sustainable and natural gum bases to appeal to environmentally aware consumers. However, the market faces notable restraints, including growing negative perceptions towards gum due to its environmental impact as litter and the challenges associated with its non-biodegradable traditional formulation. Stringent food safety regulations across different countries concerning the use of specific synthetic polymers and additives in the base can also impede product development and increase compliance costs for manufacturers.

Concentration Insights

The global chewing gum base market exhibits a highly concentrated nature, with the competitive landscape dominated by a select group of multinational corporations. This concentration is a result of the significant technical expertise, substantial capital investment, and extensive intellectual property portfolios required for the manufacturing and continuous innovation of gum base formulations. These leading players have established long-standing, strategic relationships with major chewing gum brands, creating a stable and often exclusive supply chain. Their operations are global, with production facilities strategically located to serve key regional markets efficiently. The high level of concentration fosters an environment where these key players exert considerable influence over pricing, quality standards, and the direction of technological advancements in base manufacturing. While these established giants hold sway, there are smaller, specialized manufacturers that focus on niche segments, such as organic or all-natural bases, catering to specific market demands. The barriers to entry for new competitors remain formidably high, not only due to the capital requirements but also because of the need to navigate complex global regulatory approvals for food-grade ingredients, further cementing the market position of the incumbent leaders.

Type Insights

The chewing gum base market is broadly segmented by type into synthetic gum base and natural gum base, each catering to distinct product and consumer requirements. Synthetic gum base represents the conventional and more widely used category, formulated using synthetic polymers like polyvinyl acetate, along with other ingredients such as plasticizers and softeners. This type is prized for its consistent quality, high performance in terms of chewiness and flavor release, and cost-effectiveness, making it the preferred choice for mass-market chewing gum production. In contrast, natural gum base is a growing segment developed in response to consumer demand for clean-label and recognizable ingredients. It utilizes natural elastomers such as chicle, natural rubber, or other tree resins, along with natural waxes and fats. While often more expensive and sometimes offering a different chew sensation compared to its synthetic counterpart, natural gum base appeals to a premium, health-conscious demographic seeking products with minimal processing and natural sourcing. The development and refinement of natural bases present a significant area of innovation for manufacturers aiming to capture value in this burgeoning niche market.

Application Insights

The application of chewing gum base is directly aligned with the final product categories consumed by the end-user, primarily segmented into sugared chewing gum and sugar-free chewing gum. The application dictates the specific formulation of the base, as it must be compatible with the other ingredients to achieve the desired product attributes. For sugared chewing gum, the base is engineered to effectively carry and release sugar-based sweeteners and flavors, providing a soft and pleasant chew over a sustained period. The larger and more dynamic application segment is sugar-free chewing gum, where the base must be optimized to perform with high-intensity sweeteners like sorbitol, xylitol, or aspartame. This segment has witnessed tremendous growth, driven by its association with oral health benefits, including cavity prevention and fresh breath. The base for sugar-free applications is critical for masking any potential off-tastes from artificial sweeteners and for providing a satisfying texture. Furthermore, bases are also tailored for specific applications like bubble gum, which requires exceptional elasticity for bubble-blowing, or functional gum, which may need to encapsulate and release active ingredients like caffeine or vitamins effectively.

Regional Insights

The demand and production dynamics for chewing gum base vary significantly across different global regions, influenced by local consumption patterns, manufacturing capabilities, and economic development. North America and Europe represent mature markets with well-established consumption of chewing gum, particularly sugar-free varieties. These regions are characterized by high consumer awareness regarding oral health and a strong presence of leading gum manufacturers, which in turn drives a steady demand for high-quality gum base. The Asia-Pacific region is identified as a high-growth market, fueled by rising disposable incomes, urbanization, and the expanding influence of Western lifestyles. Countries like China and India are becoming major consumption hubs, leading to increased production and investment in local gum base manufacturing facilities to supply both domestic and international brands. Latin America and the Middle East and Africa are emerging markets with growing potential, though penetration rates are currently lower. Each region also presents its own set of regulatory standards governing food additives, which directly impacts the composition of gum base that can be sold and used there, necessitating regional adaptation from base manufacturers.

Company Insights

The competitive framework of the chewing gum base market is defined by the strategies and strengths of its key players. Prominent companies such as Mondelez International, The Wrigley Company, and Perfetti Van Melle are primarily known as finished product giants, but their influence shapes base demand and specifications. The actual supply of gum base is dominated by specialized ingredient companies like GumBase Company, Cafosa, and Procudan. These suppliers compete on factors including technological innovation, product consistency, cost efficiency, and the ability to provide customized solutions. Their strategic focus often involves investing in research and development to create advanced base formulations that allow gum manufacturers to launch novel products, such as those with longer-lasting flavors or unique textures. Many of these companies pursue vertical integration to control quality and supply chain costs, from raw material sourcing to the production of the base. Building and maintaining strong, collaborative relationships with large confectionery brands is a critical go-to-market strategy, as these partnerships are often long-term and based on strict quality and confidentiality agreements.

Recent Developments

The chewing gum base market has been active with recent developments focused on sustainability, product innovation, and strategic business movements. A prominent trend has been the increased investment in research aimed at developing biodegradable and environmentally friendly gum base materials to address the significant issue of gum litter and its persistence in the environment. Several companies have launched or are developing bases made from natural, sustainable sources that are designed to break down more easily after disposal. In terms of product innovation, there is a continuous effort to enhance flavor delivery systems and extend the longevity of taste, which is a key purchasing factor for consumers. Additionally, there has been a noticeable push towards creating bases that are compatible with a wider array of functional ingredients, such as vitamins, minerals, and botanicals, to support the growth of the functional gum segment. On the corporate front, strategic acquisitions and partnerships have been observed as companies seek to expand their geographic footprint, acquire new technologies, or strengthen their portfolio of natural base offerings to better compete in the evolving market landscape.

Report Segmentation

This comprehensive market research report on the chewing gum base industry provides a detailed analysis structured through a methodical segmentation approach. The report is segmented by type to deliver insights into the synthetic and natural gum base categories, analyzing the production, adoption, and growth prospects for each. It is further segmented by application, delving into the specific requirements and market dynamics for sugared chewing gum and sugar-free chewing gum, which is the more rapidly expanding segment. A crucial component of the report is the regional segmentation, which offers a granular view of the market across key geographies including North America, Europe, Asia-Pacific, and the Rest of the World. This analysis highlights regional consumption patterns, production capacities, regulatory environments, and growth opportunities. The report also includes a dedicated competitive landscape section, profiling the key companies involved in the manufacturing and supply of chewing gum base. This segmentation allows for a targeted understanding of the market, enabling stakeholders to identify specific trends, opportunities, and challenges within each distinct segment of the industry.

FAQs

What is chewing gum base made of?

Chewing gum base is composed of a blend of food-grade polymers, resins, plasticizers, and softeners that create the insoluble, chewy matrix. Traditional synthetic bases often include elastomers like polyisobutylene and polyvinyl acetate, while natural bases utilize substances like chicle or natural rubber.

Who are the major players in the chewing gum base market?

The market is supplied by specialized ingredient manufacturers such as GumBase Company, Cafosa, and Procudan, who provide the base to large confectionery companies like Mondelez International (Trident, Dentyne) and Mars Wrigley (Extra, Orbit, Doublemint) for their finished gum products.

What is the difference between natural and synthetic gum base?

The primary difference lies in the source of the key elastomeric components. Synthetic gum base uses man-made polymers, offering consistency and cost-effectiveness. Natural gum base is derived from plant-based resins and waxes, catering to the demand for clean-label and naturally sourced ingredients.

How is chewing gum base manufactured?

The manufacturing process involves melting and blending the various raw materials?elastomers, resins, fats, and waxes?in large heated mixers. The mixture is then purified, filtered, and formed into blocks or pellets before being cooled and packaged for shipment to chewing gum producers.

Why is gum base not digestible?

Gum base is designed to be insoluble and inert. Its primary components, the elastomers and resins, are not broken down by human digestive enzymes. This property is intentional, as it provides the desired chewy texture and ensures the base passes through the digestive system without being absorbed.

Citius Research has developed a research report titled “Chewing Gum Base 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

• Chewing Gum Base 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 Chewing Gum Base 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.

Chewing Gum Base Market Segmentation

Market Segmentation

Regions Covered

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

Chewing Gum Base Market Analysis

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

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

Chewing Gum Base Market Key Stakeholders

Below are the key stakeholders for the Chewing Gum Base Market:

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

Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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 Chewing Gum Base 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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