Taste Modulators 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: CR0196030
  • Format: Electronic (PDF)
  • Number of Pages: 185
  • Author(s): Joshi, Madhavi

Report Overview

The Taste Modulators Market size was estimated at USD 1.2 billion in 2023 and is projected to reach USD 2.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Taste Modulators Market

(Market Size)
$1.2 billion
$2.5 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 1.2 billion
2030 Market Size USD 2.5 billion
Key Players Kerry, Givaudan, International Flavors & Fragrances, Symrise, Firmenich

Market Summary

The taste modulators market is a dynamic and evolving segment within the global food and beverages industry, focused on ingredients that alter or enhance the taste perception of consumable products. These specialized components are critical for manufacturers aiming to meet changing consumer preferences, particularly the growing demand for reduced-sugar, reduced-salt, and healthier product options without compromising on taste. The market's growth is largely driven by the food industry's response to increasing health consciousness among consumers and stringent regulatory guidelines promoting healthier diets. Companies are investing significantly in research and development to create advanced modulating solutions that can effectively mask undesirable tastes, such as bitterness from vitamins or fortifying agents, or enhance sweet and savory notes. The application of these ingredients spans a wide array of products, including beverages, dairy, confectionery, and savory snacks, making it a foundational element for product innovation and reformulation strategies across the sector.

Key Highlights

The taste modulators market is characterized by several key highlights that underscore its strategic importance. A primary highlight is the critical role these ingredients play in sugar and salt reduction initiatives, enabling manufacturers to develop products that align with health and wellness trends while maintaining consumer acceptance and palatability. The market is also marked by significant technological advancements in extraction and synthesis processes, leading to more efficient and natural taste-modulating solutions derived from botanical sources, fermentation, or biotechnological methods. Another notable aspect is the intense focus on clean label products, pushing demand for natural taste modulators over synthetic alternatives. Leading multinational corporations such as Givaudan, Firmenich, International Flavors & Fragrances Inc., and Symrise AG are at the forefront, driving innovation through extensive R&D portfolios and strategic collaborations. Furthermore, the market is experiencing increased application in functional foods and beverages, where masking off-notes from proteins, fibers, or other functional ingredients is paramount for product success.

Drivers, Opportunities & Restraints

The growth of the taste modulators market is propelled by several key drivers. The most significant driver is the rising global incidence of health issues such as obesity and diabetes, which has prompted consumers to seek out reduced-sugar and reduced-salt food and beverage options, creating a substantial need for taste-enhancing solutions. Government regulations and public health policies advocating for healthier food formulations further accelerate this demand. A major opportunity lies in the expansion into emerging economies, where rising disposable incomes, urbanization, and growing health awareness are opening new markets for fortified and healthier product variants. Additionally, the exploration of novel sources for natural modulators and their application in plant-based alternative products presents a significant growth avenue. However, the market faces restraints, including the high cost of research, development, and commercialization of advanced taste modulators. Stringent and varying regulatory frameworks across different regions also pose a challenge for global market players, potentially slowing down product launches and increasing compliance costs.

Concentration Insights

The competitive landscape of the taste modulators market is relatively concentrated, with a handful of established players holding a significant market share. This concentration is dominated by large, diversified flavor and fragrance companies that possess extensive technical expertise, robust global distribution networks, and strong relationships with major food and beverage manufacturers. Key players such as Givaudan, International Flavors & Fragrances Inc. (IFF), Firmenich, Symrise AG, and Kerry Group lead the market through continuous innovation and a comprehensive product portfolio. These companies compete intensely on the basis of product efficacy, sourcing sustainability, and the ability to provide customized solutions for specific client needs. The market also features several specialized mid-sized and smaller firms that focus on niche applications or specific types of natural modulators, contributing to a diverse and innovative ecosystem. This structure encourages a high level of investment in R&D and strategic mergers and acquisitions as companies strive to enhance their technological capabilities and market reach.

Type Insights

The taste modulators market is segmented by type into several key categories, primarily including sweet modulators, salt modulators, and flavor modulators. Sweet taste modulators represent a substantial segment, driven by the widespread effort to reduce sugar content in beverages, dairy, and confectionery products. These ingredients work by enhancing the perception of sweetness, allowing for significant sugar reduction while maintaining the desired sweet taste. Salt modulators are increasingly important in savory applications like snacks, soups, and processed meats, helping to lower sodium content without sacrificing flavor. Flavor modulators encompass a broader range, including bitterness blockers and umami enhancers, which are essential for improving the overall flavor profile and masking off-notes in products fortified with minerals, vitamins, or proteins. The demand for natural modulators, such as those derived from yeast extracts, nucleotides, or botanicals, is growing rapidly as manufacturers pursue clean label strategies to meet consumer demand for recognizable and natural ingredients.

Application Insights

Application insights reveal the extensive use of taste modulators across various segments of the food and beverage industry. The beverage sector is a major application area, particularly for sweet modulators in soft drinks, juices, and nutritional drinks where sugar reduction is a top priority. The dairy industry utilizes these ingredients to enhance the flavor of low-fat yogurts, milk, and ice cream. In confectionery, taste modulators are crucial for developing sugar-free or reduced-sugar candies and chocolates that still deliver a satisfying sweet experience. The savory snacks and processed foods segment heavily relies on salt modulators to create low-sodium versions of popular items like chips, crackers, and ready meals. Furthermore, the burgeoning market for nutritional supplements and functional foods presents a critical application, as taste modulators are essential for masking the often unpleasant bitter or metallic tastes of vitamins, minerals, plant proteins, and other bioactive compounds, thereby improving consumer compliance and product acceptability.

Regional Insights

Regionally, the taste modulators market demonstrates distinct patterns of demand and growth. North America and Europe are established, mature markets characterized by high consumer awareness of health issues, stringent food regulations, and a strong presence of leading flavor companies. These regions are at the forefront of product innovation and adoption of taste modulation solutions for sugar and salt reduction. The Asia-Pacific region is identified as the fastest-growing market, fueled by rapidly changing lifestyles, increasing health consciousness, a growing middle-class population, and the expansion of the processed food industry in countries like China, India, and Japan. Latin America and the Middle East and Africa are emerging as promising markets with significant growth potential, driven by urbanization, economic development, and a gradual shift in consumer preferences towards healthier food options, although market penetration is currently at a earlier stage compared to other regions.

Company Insights

The competitive environment in the taste modulators market is shaped by the strategies of its key players. Dominant companies include Givaudan, International Flavors & Fragrances Inc. (IFF), Firmenich, Symrise AG, and Kerry Group. These corporations compete through extensive investment in research and development to discover and commercialize novel modulating compounds, often through biotechnology and natural sourcing. Their strategies frequently involve strategic acquisitions to bolster their technological portfolios and expand their global footprint; for instance, the merger of IFF and DuPont's Nutrition & Biosciences business significantly expanded its capabilities in this domain. These leaders offer comprehensive solutions, providing not just ingredients but also application expertise and technical support to food manufacturers. Beyond these giants, companies like Sensient Technologies Corporation, Ingredion Incorporated, and Tate & Lyle also hold significant positions, often focusing on specific ingredient technologies such as stevia-based sweeteners or texture systems that work in tandem with taste modulation.

Recent Developments

The taste modulators market has been active with recent developments focused on innovation and strategic growth. A prominent trend is the increased launch of natural and plant-derived taste modulating solutions, as companies respond to the clean label movement. There has been a surge in research focused on identifying new botanical extracts and using fermentation processes to create effective and sustainable modulators. Strategic mergers and acquisitions continue to reshape the competitive landscape, enabling companies to combine expertise and accelerate product development. Collaborations between ingredient suppliers and food manufacturers are also becoming more common, aimed at co-developing tailored solutions for specific product challenges, such as improving the taste of plant-based meat and dairy alternatives. Furthermore, advancements in digital flavor profiling and artificial intelligence are being leveraged to predict and design more effective taste modulation systems, enhancing the speed and precision of product development cycles for faster time-to-market.

Report Segmentation

This comprehensive market report on taste modulators offers a detailed segmentation to provide clients with actionable intelligence. The analysis is segmented by type, categorizing the market into sweet modulators, salt modulators, and flavor modulators, with further breakdowns into sub-types such as natural and synthetic variants. The application segment provides a thorough analysis across key industries, including beverages, dairy products, confectionery, bakery products, savory snacks, and nutritional supplements, detailing the specific use cases and demand drivers within each category. Geographically, the report provides an in-depth regional analysis covering North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, highlighting regional trends, growth rates, and key consuming countries. This multi-faceted segmentation allows businesses to identify precise growth pockets, understand application-specific demands, and tailor their strategies according to regional dynamics and product type potential.

FAQs

What are taste modulators?

Taste modulators are specialized food ingredients designed to alter or enhance the perception of taste in food and beverage products. They are primarily used to suppress undesirable tastes like bitterness or to amplify desired tastes like sweetness or saltiness, enabling the creation of products with reduced sugar, salt, or fat content without compromising on flavor.

How do taste modulators work?

Taste modulators work by interacting with taste receptors on the tongue. For example, a sweet taste modulator may bind to sweetness receptors, enhancing the signal and creating a perception of sweetness that is greater than the actual sugar content would provide. Bitterness blockers can inhibit the receptors responsible for detecting bitter compounds, effectively masking off-notes.

What is the difference between taste modulators and flavors?

While both impact taste, flavors are additives that impart a specific taste or smell to a product, such as strawberry or vanilla flavor. Taste modulators, however, do not add a new flavor; they chemically or naturally modify the way existing tastes are perceived by the consumer, for instance, by making a low-sugar product taste sweeter.

Are taste modulators safe for consumption?

Yes, taste modulators used in the food and beverage industry are subject to rigorous safety testing and must receive approval from regulatory bodies like the FDA in the United States or the EFSA in Europe before they can be used in consumer products. They are deemed safe for consumption within the prescribed limits.

What are the key applications of taste modulators?

The key applications are vast and include reducing sugar in beverages and confectionery, reducing salt in snacks and processed meats, and masking bitter tastes in nutritional supplements, fortified foods, and plant-based protein products. They are essential for developing healthier product alternatives that still meet consumer taste expectations.

Citius Research has developed a research report titled “Taste Modulators 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

• Taste Modulators 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 Taste Modulators 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.

Taste Modulators Market Segmentation

Market Segmentation

Regions Covered

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

Taste Modulators Market Analysis

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

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

Taste Modulators Market Key Stakeholders

Below are the key stakeholders for the Taste Modulators Market:

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

Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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 Taste Modulators 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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