Frosting, Toppings, and Decorations 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: CR0195402
  • Format: Electronic (PDF)
  • Number of Pages: 186
  • Author(s): Joshi, Madhavi

Report Overview

The Frosting, Toppings, and Decorations Market size was estimated at USD 8.5 billion in 2023 and is projected to reach USD 18 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Frosting, Toppings, and Decorations Market

(Market Size)
$8.5 billion
$18 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 8.5 billion
2030 Market Size USD 18 billion
Key Players Barry Callebaut, Cargill, Puratos, Blommer, Cémoi

Market Summary

The frosting, toppings, and decorations market is a dynamic segment within the broader food and beverages industry, characterized by its essential role in enhancing the visual appeal, texture, and flavor of various food products. This market caters extensively to bakeries, confectioneries, dairy product manufacturers, and the burgeoning home baking sector. Demand is primarily driven by the increasing consumer inclination towards aesthetically pleasing and customized food items, particularly in celebratory and indulgence contexts. The product range is diverse, encompassing items like buttercream and royal icing, sprinkles and nonpareils, edible images and prints, fondant, and glazes. Innovation in ingredients, such as the development of natural colorants and allergen-free options, is a notable trend shaping product development. The market demonstrates resilience and adaptability, consistently evolving to meet shifting consumer preferences and culinary trends.

Key Highlights

The frosting, toppings, and decorations market is distinguished by several key highlights that underscore its current trajectory and future potential. A significant trend is the pronounced consumer shift towards clean-label and natural ingredients, compelling manufacturers to reformulate products by eliminating artificial colors, flavors, and preservatives. This has led to increased utilization of fruit and vegetable extracts for coloring. Another highlight is the robust growth in the organic and vegan segments, with products free from animal-derived ingredients like gelatin and dairy gaining substantial market share. The market is also highly responsive to seasonal demand fluctuations, with significant sales spikes around holidays and festive periods. Furthermore, technological advancements in food printing and 3D decoration are opening new frontiers for customization and intricate designs, offering significant growth opportunities for industry players.

Drivers, Opportunities & Restraints

The growth of the frosting, toppings, and decorations market is propelled by a confluence of drivers, while also facing certain restraints and presenting clear opportunities. A primary driver is the rising popularity of home baking and cake decorating, fueled by social media platforms and popular television shows, which has democratized culinary arts and increased demand from amateur bakers. The expanding foodservice industry, particularly cafes, bakeries, and quick-service restaurants, consistently requires these products to enhance their dessert and beverage offerings. However, the market is restrained by growing health consciousness among consumers, leading to scrutiny over sugar content and calorie density in these products. This restraint simultaneously presents a significant opportunity for innovation in low-sugar, reduced-calorie, and functionally fortified offerings. Another opportunity lies in expanding into emerging markets where disposable incomes are rising, and Western dietary patterns are being adopted.

Concentration Insights

The competitive landscape of the global frosting, toppings, and decorations market is a mix of large multinational food conglomerates and specialized niche players. The market exhibits a moderate level of concentration, with leading companies like Barry Callebaut, Cargill, and Archer Daniels Midland holding significant shares due to their extensive distribution networks, robust R&D capabilities, and diverse product portfolios. These giants often compete on scale, brand recognition, and the ability to serve large multinational food manufacturers. Alongside them, numerous smaller and regional companies thrive by focusing on specialty, organic, artisan, or allergen-free products, catering to specific consumer segments. This structure creates a competitive environment where innovation, speed to market with new trends, and strategic mergers and acquisitions are common tactics for gaining a competitive edge.

Type Insights

The market can be segmented by type into several distinct categories, each with its own characteristics and demand patterns. Icings and frostings represent a foundational category, including buttercream, ganache, cream cheese frosting, and whipped toppings, widely used for cakes and cupcakes. Sprinkles and decorative items form another major category, encompassing a vast array of jimmies, nonpareils, sanding sugars, quins, and edible pearls that add color and texture. A growing segment is fondant, prized for its smooth finish and sculpting capabilities in professional cake decorating. Furthermore, glazes and syrups are used extensively on donuts, pastries, and beverages. Fruit purees and compotes are increasingly popular as natural toppings for dairy products like yogurt and ice cream. Each type is experiencing innovation, particularly in natural coloring and flavoring systems to align with clean-label demands.

Application Insights

Application insights reveal the diverse end-use sectors that consume frosting, toppings, and decorations. The bakery and confectionery industry is the largest application segment, utilizing these products for cakes, pastries, cookies, and donuts to improve visual appeal and taste. The dairy industry is another significant application area, where toppings are essential for ice creams, frozen yogurts, and whipped cream products. The beverage sector employs syrups, whipped cream, and sprinkles as key differentiators in the competitive coffee shop and bubble tea markets. A rapidly growing application is in-home baking, where consumers purchase products for personal use in celebration cakes and everyday treats. Each application sector has specific requirements for stability, shelf-life, texture, and flavor release, driving targeted product development from manufacturers.

Regional Insights

Geographically, the demand for frosting, toppings, and decorations displays distinct regional patterns influenced by culinary traditions, economic development, and consumer lifestyles. North America and Europe are established, mature markets characterized by high per capita consumption and a strong culture of baking and celebratory foods. These regions are at the forefront of trends like organic, vegan, and clean-label products. The Asia-Pacific region is identified as the fastest-growing market, driven by rising disposable incomes, urbanization, the influence of Western culture, and the expansion of international bakery and caf? chains. Latin America and the Middle East and Africa are emerging markets showing promising growth potential, albeit from a smaller base, as retail landscapes modernize and consumer spending on indulgent foods increases.

Company Insights

The market features a roster of key players who define the competitive dynamics through innovation and strategic positioning. Prominent global companies include Barry Callebaut, a leader in chocolate-based decorations and icings; Cargill, which offers a wide range of texturizing and decorating solutions; and Archer Daniels Midland (ADM), known for its ingredient systems. Other significant players are Dr. Oetker, a major brand in the consumer baking segment with its whipped toppings and sprinkles; and Wilton Brands, a specialist in cake decorating tools and supplies, including pre-made decorations. Pure Decor and Pecan Deluxe Candy Company are also notable players focusing on specific product lines. These companies compete through continuous product innovation, expansion into new geographic markets, and catering to the evolving demands for natural and specialty products.

Recent Developments

The frosting, toppings, and decorations market is continuously evolving, with recent developments highlighting strategic moves by key industry participants. A prominent trend has been a wave of product launches focused on health and wellness, including lines sweetened with natural alternatives like stevia and monk fruit, and products that are certified organic, vegan, or free from major allergens. Companies are also investing in sustainable sourcing practices for raw materials like cocoa and sugar to appeal to environmentally conscious consumers. Acquisitions and partnerships remain a common strategy for market expansion and portfolio diversification. For instance, larger ingredient firms have acquired smaller, innovative brands specializing in natural colors or premium decorations to enhance their offerings. Furthermore, advancements in digital printing technology for edible images continue to revolutionize customization options for both commercial and home bakers.

Report Segmentation

This comprehensive market research report on the frosting, toppings, and decorations market provides a detailed analysis segmented across multiple dimensions to offer a granular understanding of the industry. The segmentation is primarily based on type, which includes categories such as icings and frostings, fondants, sprinkles, glazes, and others. The report further breaks down the market by application, covering key sectors like bakery products, confectionery, dairy and frozen desserts, and beverages. A crucial segment of the analysis is based on form, distinguishing between solid, liquid, and gel-based products. Additionally, the report provides a thorough geographical segmentation, delivering insights into regional and country-level markets across North America, Europe, Asia-Pacific, and the rest of the world. This multi-faceted segmentation allows stakeholders to identify precise growth pockets and tailor their strategies accordingly.

FAQs

What are the key trends in the frosting and decorations market?

The key trends shaping the market include a strong consumer shift towards clean-label and natural ingredients, driving demand for products free from artificial colors and flavors. There is significant growth in the organic, vegan, and allergen-free segments. Personalization and customization, enabled by advanced edible printing technology, are also major trends, along with the rising popularity of home baking.

What is driving the growth of the toppings market?

Market growth is primarily driven by the expansion of the foodservice industry, including bakeries, cafes, and restaurants. The surge in home baking activities, influenced by social media and culinary shows, is a significant contributor. Rising consumer disposable income, particularly in emerging economies, and the constant demand for innovative and visually appealing food products also fuel market expansion.

Which companies are the top players in this market?

The market is populated by a mix of large multinational corporations and specialized players. Some of the leading companies include Barry Callebaut, Cargill, Archer Daniels Midland (ADM), and Dr. Oetker. Other significant participants are Wilton Brands, Pure Decor, and Pecan Deluxe Candy Company, each holding substantial expertise and market share in specific product categories.

How is consumer preference changing in this industry?

Consumer preferences are evolving towards healthier and more transparent options. There is heightened demand for decorations made with natural colorants derived from sources like fruits and vegetables, and for products with reduced sugar content. Consumers also show increasing interest in ethically sourced and sustainably produced ingredients, as well as options that cater to specific dietary needs like vegan, gluten-free, or nut-free.

Which region has the highest demand for cake decorations?

Traditionally, North America and Europe have represented the regions with the highest demand for cake decorations, supported by strong baking cultures and high consumer spending. However, the Asia-Pacific region is currently experiencing the fastest growth rate in demand. This is attributed to rapid urbanization, westernization of diets, growing middle-class population, and the proliferation of international bakery chains.

Citius Research has developed a research report titled “Frosting, Toppings, and Decorations 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

• Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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.

Frosting, Toppings, and Decorations Market Segmentation

Market Segmentation

Regions Covered

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

Frosting, Toppings, and Decorations Market Analysis

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

• Overview of Frosting, Toppings, and Decorations Market
• Research Methodology
• Executive Summary
• Market Dynamics of Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations Market
• Cost and Gross Margin Analysis of Frosting, Toppings, and Decorations Market
• Frosting, Toppings, and Decorations 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 “Frosting, Toppings, and Decorations 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.

Frosting, Toppings, and Decorations Market Key Stakeholders

Below are the key stakeholders for the Frosting, Toppings, and Decorations Market:

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

Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting Toppings and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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 Frosting, Toppings, and Decorations 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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