Flavor Enhancers 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: CR0196142
  • Format: Electronic (PDF)
  • Number of Pages: 193
  • Author(s): Joshi, Madhavi

Report Overview

The Flavor Enhancers Market size was estimated at USD 5.2 billion in 2023 and is projected to reach USD 11 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Flavor Enhancers Market

(Market Size)
$5.2 billion
$11 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.50%
2023 Market Size USD 5.2 billion
2030 Market Size USD 11 billion
Key Players Ajinomoto, Kerry, Givaudan, International Flavors & Fragrances, Symrise

Market Summary

The flavor enhancers market is a dynamic segment within the global food and beverages industry, characterized by the increasing demand for improved taste profiles in a wide array of food products. These substances, which include both natural and synthetic compounds, are integral to amplifying or modifying the existing flavors in food items without contributing a significant taste of their own. The market is propelled by evolving consumer palates, the rising popularity of convenience and processed foods, and the growing culinary experimentation across different cultures. Manufacturers are continuously innovating to develop enhancers that meet the clean label trend and cater to the demand for healthier ingredient options. The industry sees significant activity from both multinational corporations and specialized ingredient suppliers, all competing to offer superior and cost-effective solutions to food producers worldwide. The application spectrum is broad, impacting sectors from snacks and beverages to meat and dairy products, making it a cornerstone of modern food manufacturing and product development strategies.

Key Highlights

A pivotal highlight of the flavor enhancers market is the strong shift towards natural origin ingredients, driven by heightened consumer awareness and regulatory pressures against artificial additives. Monosodium glutamate (MSG), once dominant, is increasingly being supplemented or replaced by yeast extracts, hydrolyzed vegetable proteins, and nucleotide-based enhancers. Another key trend is the technological advancement in extraction and fermentation processes, enabling the production of more potent and versatile enhancers from sustainable sources. The market is also witnessing significant investment in research and development to create flavor solutions for plant-based and alternative protein products, which require robust flavor masking and enhancing systems. Strategic collaborations and acquisitions among key players are frequent, aimed at expanding product portfolios and geographic reach. Furthermore, the demand for customized and application-specific flavor enhancer blends is rising, offering tailored solutions for different food matrices and processing conditions, which represents a major value proposition for industry participants.

Drivers, Opportunities & Restraints

The primary driver for the flavor enhancers market is the escalating global consumption of processed and packaged foods, where these ingredients are essential for maintaining consistent and appealing taste after industrial processing. The expansion of the food service industry and the rising demand for exotic and authentic international cuisines further fuel the need for sophisticated flavor solutions. A significant opportunity lies in the development of clean-label and organic-certified flavor enhancers, catering to the health-conscious consumer segment. The growing market for reduced-sodium and low-fat food products also presents a substantial avenue, as enhancers can help compensate for the loss of flavor in such formulations. However, the market faces restraints, including stringent government regulations and a negative consumer perception, particularly in Western markets, regarding certain synthetic enhancers like MSG, often associated with health concerns. Price volatility of raw materials and the high cost associated with research, development, and regulatory compliance for new products also act as challenges for market growth.

Concentration Insights

The global flavor enhancers market is moderately concentrated, with a mix of large multinational corporations and several mid-sized specialized firms holding significant shares. Leading companies such as Ajinomoto Co., Inc., Kerry Group, Givaudan, International Flavors & Fragrances Inc. (IFF), and Sensient Technologies Corporation dominate the landscape through their extensive product portfolios, strong R&D capabilities, and established global distribution networks. These players compete intensely on the basis of product innovation, technological expertise, and strategic partnerships with food manufacturers. The market also features a number of regional players who compete by offering cost-effective solutions and catering to local taste preferences and specific application needs. This competitive environment fosters continuous innovation, particularly in the realm of natural and sustainable ingredients. Mergers and acquisitions are a common strategy employed by major players to consolidate their market position, acquire new technologies, and enter emerging high-growth markets more effectively.

Type Insights

The flavor enhancers market is segmented by type into various categories, with acidulants, glutamates, hydrolyzed vegetable proteins (HVP), yeast extracts, and nucleotides being the most prominent. Glutamates, particularly monosodium glutamate (MSG), have historically been the most widely used type due to their potent umami-enhancing properties and cost-effectiveness. However, the segment is experiencing a shift as demand for natural alternatives grows. Yeast extracts and hydrolyzed vegetable proteins are gaining substantial traction as they provide a clean-label, natural source of umami and savory notes without the negative connotations associated with MSG. Nucleotides, such as disodium inosinate (IMP) and disodium guanylate (GMP), are often used synergistically with MSG or yeast extracts to significantly boost flavor impact at lower usage levels. Acidulants, including citric acid and malic acid, are crucial for enhancing sourness and balancing overall flavor profiles in beverages, candies, and sauces. The development of novel blends that combine these types for optimal performance in specific applications is a key focus area for ingredient suppliers.

Application Insights

Flavor enhancers find extensive application across the entire food and beverages industry. The processed foods segment, which includes ready-to-eat meals, snacks, and instant noodles, is a major consumer, relying heavily on these ingredients to deliver a consistent and palatable taste experience. The beverage industry utilizes enhancers to intensify fruit flavors in juices and soft drinks and to round out the profile of functional and health-oriented drinks. In the meat and poultry sector, enhancers are critical for improving the savory taste of products, especially in reduced-salt or low-fat formulations. The dairy industry applies them in products like soups, sauces, and cheeses to deepen flavor complexity. Furthermore, the rapidly expanding plant-based protein category is emerging as a significant application area, where enhancers are essential to mask off-notes from pulses and grains and to impart a meat-like savory flavor. The demand is also robust in the bakery and confectionery sectors for enhancing buttery, sweet, and creamy notes.

Regional Insights

The Asia Pacific region stands as the largest and fastest-growing market for flavor enhancers, driven by high consumption of processed foods, a strong culinary tradition that values umami flavors, and the presence of major producers like Ajinomoto. Countries such as China, Japan, and South Korea are particularly significant markets. North America and Europe represent mature markets characterized by a high degree of processing in the food supply chain. However, growth here is more nuanced, heavily influenced by the strong consumer shift towards natural and organic ingredients, which is prompting reformulation of existing products. Latin America and the Middle East and Africa are emerging as promising regions with growing potential. The growth in these areas is fueled by urbanization, rising disposable incomes, and the subsequent increased adoption of Western-style processed and convenience foods, which in turn drives the demand for flavor enhancers to suit local and international taste preferences.

Company Insights

The competitive landscape of the flavor enhancers market is defined by the strategies of its key players. Ajinomoto Co., Inc. is a global leader, renowned for its amino acid-based technologies and a wide array of umami ingredients. Kerry Group leverages its strong position in taste and nutrition to offer integrated solutions that include natural flavor enhancers. Givaudan and International Flavors & Fragrances Inc. (IFF) compete through their vast expertise in creating holistic flavor systems that often include proprietary enhancer technologies as a core component. Sensient Technologies Corporation is recognized for its natural coloring and flavoring solutions, including enhancers derived from botanical sources. Other notable companies include Tate & Lyle, Corbion, and AngelYeast Co., Ltd., each focusing on specific segments like specialty ingredients, acidulants, or yeast-based products. These companies invest heavily in consumer research, application development, and sustainability initiatives to maintain their competitive edge and meet the evolving demands of food manufacturers.

Recent Developments

The flavor enhancers market has been active with recent developments focused on innovation and strategic expansion. A prominent trend is the launch of new natural flavor enhancer platforms derived from plant extracts, fermentation processes, and upcycled ingredients, aligning with the clean-label movement. Several leading companies have announced significant investments in expanding their production capacities for yeast extracts and organic-certified ingredients to meet rising demand. There has been a noticeable increase in research publications and patent filings related to novel extraction techniques and the identification of new flavor-enhancing compounds from natural sources. Strategic mergers and acquisitions continue to shape the industry, with larger entities acquiring smaller firms specializing in natural ingredients to bolster their portfolios. Furthermore, companies are increasingly engaging in partnerships with food tech startups, particularly those in the alternative protein space, to co-develop bespoke flavor solutions that are critical for the success of plant-based and cultured meat products.

Report Segmentation

This comprehensive market report on flavor enhancers provides a detailed analysis segmented by type, application, and geography to offer a granular view of the industry. The type segmentation covers key categories such as glutamates, hydrolyzed vegetable proteins, yeast extracts, nucleotides, acidulants, and other specialty enhancers, analyzing the demand dynamics and growth prospects for each. The application segmentation delves into the usage across various food and beverage sectors, including processed foods, beverages, meat and poultry products, dairy products, bakery and confectionery, and others, highlighting specific requirements and trends in each vertical. The geographical segmentation offers an in-depth regional analysis covering North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, examining regional production, consumption patterns, regulatory frameworks, and competitive landscapes. This multi-faceted segmentation allows stakeholders to identify high-growth segments, understand regional nuances, and make informed strategic decisions regarding investment, marketing, and product development.

FAQs

What are flavor enhancers?

Flavor enhancers are substances added to food to intensify or improve its existing taste and aroma without imparting a distinct flavor of their own. They work by stimulating taste receptors, particularly those associated with umami, the savory fifth taste.

What is the most common flavor enhancer?

Monosodium glutamate (MSG) is historically the most common and widely recognized synthetic flavor enhancer. However, natural options like yeast extract and hydrolyzed vegetable protein are becoming increasingly prevalent due to consumer demand for cleaner labels.

Are flavor enhancers safe to consume?

Major regulatory bodies worldwide, including the FDA and EFSA, have classified approved flavor enhancers like MSG as generally recognized as safe (GRAS) when consumed within established acceptable daily intake levels. However, consumer perception and sensitivity vary.

What is a natural alternative to MSG?

Common natural alternatives to MSG include yeast extract, hydrolyzed vegetable protein (HVP), autolyzed yeast extract, and certain nucleotide-based enhancers. These ingredients provide a savory, umami taste and are often listed more favorably on ingredient labels.

Who are the key players in the flavor enhancers market?

The market is led by several large multinational companies, including Ajinomoto Co., Inc., Kerry Group, Givaudan, International Flavors & Fragrances Inc. (IFF), and Sensient Technologies Corporation. These players dominate through extensive research, broad product portfolios, and global reach.

Citius Research has developed a research report titled “Flavor Enhancers 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

• Flavor Enhancers 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 Flavor Enhancers 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.

Flavor Enhancers Market Segmentation

Market Segmentation

Regions Covered

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

Flavor Enhancers Market Analysis

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

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

Flavor Enhancers Market Key Stakeholders

Below are the key stakeholders for the Flavor Enhancers Market:

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

Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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 Flavor Enhancers 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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