Western Europe Turmeric 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: CR0196082
  • Format: Electronic (PDF)
  • Number of Pages: 180
  • Author(s): Joshi, Madhavi

Report Overview

The Western Europe Turmeric Market size was estimated at USD 650 million in 2023 and is projected to reach USD 1.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2024-2030).

Western Europe Turmeric Market

(Market Size)
$650 million
$1.4 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.80%
2023 Market Size USD 650 million
2030 Market Size USD 1.4 billion
Key Players Sabinsa, Synthite, Kancor, Universal Oleoresins, Plant Lipids

Market Summary

The Western Europe turmeric market is a significant segment within the broader food and beverages industry, characterized by steady demand and evolving consumer preferences. Turmeric, derived from the Curcuma longa plant, is widely utilized not only as a spice but also for its functional properties, including anti-inflammatory and antioxidant benefits. Countries such as Germany, the United Kingdom, France, Italy, and Spain are major contributors to market dynamics, with increasing incorporation of turmeric in various culinary and health-oriented products. The market is supported by a robust supply chain involving importers, processors, distributors, and retailers, ensuring product availability across retail formats like supermarkets, hypermarkets, specialty stores, and online platforms. Consumer awareness regarding natural and plant-based ingredients continues to drive interest, positioning turmeric as a versatile component in both traditional and innovative food applications. The presence of established food manufacturers and a growing number of health-focused startups further enriches the competitive landscape, fostering product development and market expansion.

Key Highlights

The Western Europe turmeric market is distinguished by several key factors that underscore its growth and relevance. There is a pronounced shift towards organic and sustainably sourced turmeric, reflecting broader consumer trends favoring transparency and environmental responsibility. Product innovation is notable, with turmeric appearing in diverse formats such as powders, extracts, capsules, and ready-to-drink beverages, catering to convenience and health-conscious demographics. The regulatory environment in the European Union ensures high standards for food safety and quality, which bolsters consumer confidence and market integrity. Strategic partnerships between suppliers, manufacturers, and research institutions are common, driving advancements in product efficacy and application diversity. Additionally, the market benefits from strong promotional activities highlighting turmeric's health benefits, often supported by scientific research and endorsements from health professionals. These elements collectively enhance market visibility and adoption across both retail and foodservice sectors.

Drivers, Opportunities & Restraints

Several drivers propel the Western Europe turmeric market, including rising consumer health consciousness and the growing prevalence of chronic diseases, which encourage the adoption of natural preventive measures. The expansion of the functional food and beverage sector provides substantial opportunities for turmeric integration, particularly in products targeting wellness and immunity. However, the market faces restraints such as price volatility due to dependency on imports from major producing countries like India, which can affect cost structures and profit margins. Regulatory challenges, including stringent approval processes for health claims, also pose hurdles for market players. Opportunities abound in the development of value-added products, such as turmeric-infused snacks, beverages, and supplements, which can cater to niche markets and premium segments. Additionally, leveraging e-commerce and digital marketing strategies can enhance market reach and consumer engagement, addressing evolving purchasing behaviors.

Concentration Insights

The Western Europe turmeric market exhibits a moderately concentrated competitive landscape, with a mix of multinational corporations and specialized regional players. Key companies such as Nestl?, Unilever, and Givaudan have significant influence through their extensive distribution networks and product portfolios that include turmeric-based offerings. These entities often engage in strategic acquisitions, partnerships, and innovation to strengthen their market position. Alongside these giants, numerous small and medium-sized enterprises focus on organic, artisanal, or ethically sourced turmeric products, capturing discerning consumer segments. The market concentration is also evident in certain countries; for instance, Germany and the UK host a higher density of processors and brands due to strong demand and advanced retail infrastructure. Collaboration between stakeholders across the value chain, from farmers to retailers, is crucial for maintaining supply consistency and quality standards, which in turn supports market stability and growth.

Type Insights

In the Western Europe turmeric market, product types are primarily categorized into raw turmeric, powder, extracts, and oleoresins, each serving distinct applications and consumer needs. Turmeric powder is the most prevalent form, widely used in culinary practices and as an ingredient in food manufacturing due to its convenience and versatility. Extracts and oleoresins are gaining traction for their concentrated bioactive compounds, such as curcumin, which are favored in dietary supplements and functional foods for enhanced efficacy. Organic turmeric variants are experiencing heightened demand, driven by consumer preferences for chemical-free and sustainably produced options. The market also sees innovation in product formulations, such as turmeric blends with other spices or ingredients, designed to offer unique flavors and health benefits. This diversity in product types allows manufacturers to target various segments, from traditional cooking enthusiasts to health-focused consumers seeking supplemental forms.

Application Insights

Turmeric applications in Western Europe span multiple domains within the food and beverages industry, highlighting its versatility. In the culinary sector, it is a staple ingredient in curries, sauces, soups, and seasonings, integral to both ethnic and fusion cuisines. The beverage industry incorporates turmeric in teas, smoothies, golden milk, and functional drinks, capitalizing on its health attributes and vibrant color. Supplements and nutraceuticals represent a growing application area, with turmeric used in capsules, tablets, and powders aimed at promoting joint health, digestion, and overall wellness. The snack industry is increasingly introducing turmeric-flavored products, such as chips, crackers, and popcorn, appealing to consumers seeking healthier indulgence options. Additionally, turmeric is utilized in food coloring and natural preservatives, aligning with the clean label trend. These diverse applications underscore turmeric's adaptability and value across various product categories.

Regional Insights

The Western Europe turmeric market demonstrates varied regional dynamics influenced by cultural preferences, economic factors, and regulatory frameworks. Germany stands as a key market, characterized by high consumer awareness of health and wellness, driving demand for turmeric in both food and supplement forms. The United Kingdom shows strong adoption due to its multicultural population and growing interest in functional ingredients, with significant retail and online sales. France exhibits steady growth, with turmeric increasingly used in gourmet and health-oriented products, supported by a robust culinary tradition. Italy and Spain are emerging markets, where turmeric is gaining popularity as a functional ingredient in Mediterranean diets and local product innovations. Benelux and Scandinavian countries also contribute to regional demand, emphasizing organic and sustainable options. Overall, regional differences necessitate tailored marketing and distribution strategies to address specific consumer behaviors and preferences.

Company Insights

Prominent companies operating in the Western Europe turmeric market include multinational corporations and specialized firms that drive competition and innovation. Nestl? and Unilever leverage their extensive portfolios to incorporate turmeric into various food and beverage products, often through brands focused on health and wellness. Givaudan and Symrise are key players in providing turmeric-derived ingredients and flavors to the food industry, supporting product development for manufacturers. Specialized companies such as Pukka Herbs and Organic India focus on organic and ethically sourced turmeric, particularly in tea and supplement segments. Local players and startups, including Turmeric Vitality and The Turmeric Co., emphasize fresh or minimally processed turmeric products, catering to niche markets. These companies engage in strategies like product launches, partnerships, and sustainability initiatives to enhance their market presence and meet evolving consumer expectations for quality and transparency.

Recent Developments

Recent developments in the Western Europe turmeric market reflect ongoing innovation and strategic movements aimed at capturing growth opportunities. Companies are increasingly launching new product formats, such as turmeric-shot beverages and convenient single-serve packets, addressing demand for on-the-go wellness solutions. There is a noticeable trend towards sustainability, with brands investing in traceable supply chains and obtaining certifications like Fair Trade and Organic to build consumer trust. Partnerships between food manufacturers and research institutions have intensified, focusing on clinical studies to validate health claims and enhance product credibility. Additionally, mergers and acquisitions are occurring, enabling larger firms to expand their turmeric-related portfolios and geographic reach. Digital marketing and e-commerce optimizations are also prominent, as companies leverage online platforms to educate consumers and drive sales, particularly in response to increased online shopping behaviors.

Report Segmentation

This market report on the Western Europe turmeric industry offers a detailed segmentation to provide comprehensive insights into various aspects of the market. The segmentation is based on type, categorizing products into raw turmeric, powder, extracts, and oleoresins, each analyzed for their market share and growth prospects. Application segmentation covers food products, beverages, dietary supplements, and others, highlighting usage patterns and demand drivers across these categories. The report further breaks down the market by distribution channel, including supermarkets/hypermarkets, specialty stores, online retail, and others, assessing their contribution to market accessibility and sales. Geographically, the analysis covers key countries such as Germany, UK, France, Italy, Spain, and the rest of Western Europe, examining regional trends and opportunities. This structured approach enables stakeholders to identify specific segments of interest and make informed decisions based on granular data and trends.

FAQs

What are the health benefits of turmeric? Turmeric is renowned for its anti-inflammatory and antioxidant properties, primarily due to curcumin. It supports joint health, digestion, and immune function, and is often used to manage conditions like arthritis and metabolic syndrome.

How is turmeric used in cooking? Turmeric is a versatile spice used to add color and flavor to dishes such as curries, soups, rice, and sauces. It can be used in powder form or as fresh rhizomes, and is integral to many Asian and fusion cuisines.

Which countries in Western Europe are the largest markets for turmeric? Germany and the United Kingdom are the largest markets for turmeric in Western Europe, driven by high consumer health awareness, multicultural populations, and strong retail networks.

What is the difference between turmeric and curcumin? Turmeric is the spice derived from the Curcuma longa plant, while curcumin is the active compound within turmeric responsible for its bright yellow color and many of its health benefits.

Are there any side effects of consuming turmeric? While generally safe, excessive consumption of turmeric may cause gastrointestinal discomfort in some individuals. It can also interact with certain medications, so consultation with a healthcare provider is advised for those with specific health conditions.

Citius Research has developed a research report titled “Western Europe Turmeric Market Report - 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

• Western Europe Turmeric 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 Western Europe Turmeric 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.

Western Europe Turmeric Market Segmentation

Market Segmentation

Regions Covered

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

Western Europe Turmeric Market Analysis

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

• Overview of Western Europe Turmeric Market
• Research Methodology
• Executive Summary
• Market Dynamics of Western Europe Turmeric 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 Western Europe Turmeric Market
• Cost and Gross Margin Analysis of Western Europe Turmeric Market
• Western Europe Turmeric Market Report - 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 “Western Europe Turmeric Market Report - 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.

Western Europe Turmeric Market Key Stakeholders

Below are the key stakeholders for the Western Europe Turmeric Market:

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

Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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 Western Europe Turmeric 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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