Chocolate Spread Market Key Players Analysis 2031
The chocolate spread market is expected to register a CAGR of 6% during 2023–2031. Chocolate spreads with premium and exotic ingredients with potential health claims are witnessing significant demand. This is likely to remain the key market trend.
Chocolate Spread Market Analysis:
- Chocolate spread is one of the versatile products consumed across the world. Chocolate is one of the most popular flavors among consumers of all ages due to its rich, sweet, and bitter taste.
- Chocolate provides comfort making it more indulgent. Consumers are increasingly preferring chocolate spread as a condiment to compliment their breakfast including toast, and pastries, among others.
- The market is driven by changes in consumer tastes, including the growing preference for organic, gluten-free, sugar-free, and ‘vegan’ chocolate spreads. In addition, growing awareness of the health benefits of cocoa-rich dark chocolates is also contributing to the market growth.
Chocolate Spread Market Overview
- With increasing workload and timings, consumers want a quick escape from their hectic lifestyles. Therefore, they are indulging in chocolate-based products that offer them comfort and happiness. This factor is promisingly driving the market growth.
- Further, as consumers are focusing on their health, they prefer chocolate spreads with reduced sugar. Therefore, manufacturers are launching sugar-free chocolate spreads which are gaining high consumer attention.
- Further, the rising trend of gifting premium chocolate spreads with exotic ingredients during festivities and special occasions is also propelling the market growth.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Chocolate Spread Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Chocolate Spread Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Chocolate Spread Market Drivers and Opportunities
Rising Chocolate Indulgence
- The upsurge in consumer demand for chocolate products is the main driving factor in the chocolate spread market.
- Chocolate spreads are popular among consumers because of their rich flavor and extravagance. The demand for taste and delight is growing, although consumers are becoming more vigilant about health issues and are showing a higher preference for organic products. The increasing awareness of the advantages of the consumption of an organic product will also be a turning point in the development of organic chocolate spreads.
- The continuous innovation in products and a range of organic offerings are also further boosting the growth of the chocolate spread market. Moreover, the convenience and delicious snacking properties of chocolate spreads make it a popular choice among consumers who wish to have a mouth-watering and handy snack or breakfast.
- The growth of the chocolate spread market is guided by positive factors such as the changing consumption preference, rising disposable income, and snacking trend for indulgence.
Opportunities
Premium Chocolate Spreads as Gifting Options
- The trend of gifting premium chocolate spreads is becoming popular in the market as they are luxurious and provide a variety of flavors that can be gourmet and indulgent too.
- Premium chocolate spreads are available in different flavors such as hazelnut spread, almond spread, or dark chocolate spread. They are premium spreads that are suitable for gifting purposes. Spreads that are well packaged and presented with a variety of flavors to suit various requirements provide unique and luxurious gift options. Gourmet food gifting is on the rise around the world.
- People are looking for unique luxurious and high-quality chocolate spreads for gifts.
Chocolate Spread Market Segmentation
The scope of the global chocolate spread market has been segmented on the based-on packaging type, category, and distribution channel.
- Based on packaging type, the chocolate spread market is divided into squeezable bottles, jars, pouches, and others.
- based on category, the market is divided into organic and conventional.
- Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others
Chocolate Spread Market Share Analysis by Geography
- Chocolate Spread Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering chocolate spread market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the chocolate spread market in these regions.
Chocolate Spread Market Report Scope
Chocolate Spread Market News and Recent Developments:
The chocolate spread market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- Jif, the number one peanut butter brand in America, is launching its biggest flavor innovation in nearly a decade with Jif Peanut Butter & Chocolate Flavored Spread, combining the creamy, peanutty, goodness of Jif Peanut Butter with the sweetness of chocolate flavor. With 50% less sugar* than the leading hazelnut spread with cocoa, Jif Peanut Butter and Chocolate Flavored Spread has a thick smooth texture that is easy to spread, making it the perfect topping for desserts, snacks, and meals. Jif Peanut Butter and Chocolate Flavored Spread upgrades simple snacks such as fruit or pretzels and adds the finishing touch to smoothies. Breakfast just got a new best friend! Jif Peanut Butter & Chocolate Flavored Spread is the perfect new topping for pancakes, french toast, waffles, and even oatmeal. With wide availability in to-go and jar formats, it is an ideal treat to add to kid's lunches or for dipping your favorite snack. (Source – The JM Smucker Company, Newsletters, May 2024)
- Cargill and Voyage Foods are forming a commercial partnership that will produce alternatives to cocoa-based products and nut spreads without using cocoa, peanuts, and hazelnuts. Through the partnership, Cargill will act as Voyage Foods' global distributor and expand its chocolate portfolio with products produced with no nut or dairy allergens. (Source – Cargill Incorporated, Newsletter, April 2024)
Chocolate Spread Market Report Coverage and Deliverables
The “Chocolate Spread Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Chocolate Spread market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Chocolate Spread market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Chocolate Spread market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the chocolate spread market.
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global chocolate spread market is estimated to grow above 6% during the forecast period 2024-2031.
Rising chocolate indulgence is driving the chocolate spread market growth.
Increasing development of innovative flavors of chocolate spreads with premium and exotic ingredients is likely to remain the key trend in the market.
B&G Foods Inc., Dr Oetker, Ferrero Group, Hormel Foods Corporation, Kraft Foods, Mondelez International, Nestle SA, The Hershey Company, Nutiva Inc., and The JM Smucker Company are among the leading players operating in the chocolate spread market.
The report can be delivered in PDF/Word format, we can also share an Excel data sheet based on request.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Chocolate Spread Market - By Packaging Type
1.3.2 Chocolate Spread Market - By Category
1.3.3 Chocolate Spread Market - By Distribution Channel
1.3.4 Chocolate Spread Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CHOCOLATE SPREAD MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. CHOCOLATE SPREAD MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CHOCOLATE SPREAD MARKET - GLOBAL MARKET ANALYSIS
6.1. CHOCOLATE SPREAD - GLOBAL MARKET OVERVIEW
6.2. CHOCOLATE SPREAD - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. CHOCOLATE SPREAD MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGING TYPE
7.1. OVERVIEW
7.2. PACKAGING TYPE MARKET FORECASTS AND ANALYSIS
7.3. BOTTLES AND JARS
7.3.1. Overview
7.3.2. Bottles and Jars Market Forecast and Analysis
7.4. POUCHES
7.4.1. Overview
7.4.2. Pouches Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. CHOCOLATE SPREAD MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
8.1. OVERVIEW
8.2. CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. ORGANIC
8.3.1. Overview
8.3.2. Organic Market Forecast and Analysis
8.4. CONVENTIONAL
8.4.1. Overview
8.4.2. Conventional Market Forecast and Analysis
9. CHOCOLATE SPREAD MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. SUPERMARKETS AND HYPERMARKETS
9.3.1. Overview
9.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
9.4. CONVENIENCE STORES
9.4.1. Overview
9.4.2. Convenience Stores Market Forecast and Analysis
9.5. ONLINE RETAIL
9.5.1. Overview
9.5.2. Online Retail Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. CHOCOLATE SPREAD MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Chocolate Spread Market Overview
10.1.2 North America Chocolate Spread Market Forecasts and Analysis
10.1.3 North America Chocolate Spread Market Forecasts and Analysis - By Packaging Type
10.1.4 North America Chocolate Spread Market Forecasts and Analysis - By Category
10.1.5 North America Chocolate Spread Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Chocolate Spread Market Forecasts and Analysis - By Countries
10.1.6.1 United States Chocolate Spread Market
10.1.6.1.1 United States Chocolate Spread Market by Packaging Type
10.1.6.1.2 United States Chocolate Spread Market by Category
10.1.6.1.3 United States Chocolate Spread Market by Distribution Channel
10.1.6.2 Canada Chocolate Spread Market
10.1.6.2.1 Canada Chocolate Spread Market by Packaging Type
10.1.6.2.2 Canada Chocolate Spread Market by Category
10.1.6.2.3 Canada Chocolate Spread Market by Distribution Channel
10.1.6.3 Mexico Chocolate Spread Market
10.1.6.3.1 Mexico Chocolate Spread Market by Packaging Type
10.1.6.3.2 Mexico Chocolate Spread Market by Category
10.1.6.3.3 Mexico Chocolate Spread Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Chocolate Spread Market Overview
10.2.2 Europe Chocolate Spread Market Forecasts and Analysis
10.2.3 Europe Chocolate Spread Market Forecasts and Analysis - By Packaging Type
10.2.4 Europe Chocolate Spread Market Forecasts and Analysis - By Category
10.2.5 Europe Chocolate Spread Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Chocolate Spread Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Chocolate Spread Market
10.2.6.1.1 Germany Chocolate Spread Market by Packaging Type
10.2.6.1.2 Germany Chocolate Spread Market by Category
10.2.6.1.3 Germany Chocolate Spread Market by Distribution Channel
10.2.6.2 France Chocolate Spread Market
10.2.6.2.1 France Chocolate Spread Market by Packaging Type
10.2.6.2.2 France Chocolate Spread Market by Category
10.2.6.2.3 France Chocolate Spread Market by Distribution Channel
10.2.6.3 Italy Chocolate Spread Market
10.2.6.3.1 Italy Chocolate Spread Market by Packaging Type
10.2.6.3.2 Italy Chocolate Spread Market by Category
10.2.6.3.3 Italy Chocolate Spread Market by Distribution Channel
10.2.6.4 United Kingdom Chocolate Spread Market
10.2.6.4.1 United Kingdom Chocolate Spread Market by Packaging Type
10.2.6.4.2 United Kingdom Chocolate Spread Market by Category
10.2.6.4.3 United Kingdom Chocolate Spread Market by Distribution Channel
10.2.6.5 Russia Chocolate Spread Market
10.2.6.5.1 Russia Chocolate Spread Market by Packaging Type
10.2.6.5.2 Russia Chocolate Spread Market by Category
10.2.6.5.3 Russia Chocolate Spread Market by Distribution Channel
10.2.6.6 Rest of Europe Chocolate Spread Market
10.2.6.6.1 Rest of Europe Chocolate Spread Market by Packaging Type
10.2.6.6.2 Rest of Europe Chocolate Spread Market by Category
10.2.6.6.3 Rest of Europe Chocolate Spread Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Chocolate Spread Market Overview
10.3.2 Asia-Pacific Chocolate Spread Market Forecasts and Analysis
10.3.3 Asia-Pacific Chocolate Spread Market Forecasts and Analysis - By Packaging Type
10.3.4 Asia-Pacific Chocolate Spread Market Forecasts and Analysis - By Category
10.3.5 Asia-Pacific Chocolate Spread Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Chocolate Spread Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Chocolate Spread Market
10.3.6.1.1 Australia Chocolate Spread Market by Packaging Type
10.3.6.1.2 Australia Chocolate Spread Market by Category
10.3.6.1.3 Australia Chocolate Spread Market by Distribution Channel
10.3.6.2 China Chocolate Spread Market
10.3.6.2.1 China Chocolate Spread Market by Packaging Type
10.3.6.2.2 China Chocolate Spread Market by Category
10.3.6.2.3 China Chocolate Spread Market by Distribution Channel
10.3.6.3 India Chocolate Spread Market
10.3.6.3.1 India Chocolate Spread Market by Packaging Type
10.3.6.3.2 India Chocolate Spread Market by Category
10.3.6.3.3 India Chocolate Spread Market by Distribution Channel
10.3.6.4 Japan Chocolate Spread Market
10.3.6.4.1 Japan Chocolate Spread Market by Packaging Type
10.3.6.4.2 Japan Chocolate Spread Market by Category
10.3.6.4.3 Japan Chocolate Spread Market by Distribution Channel
10.3.6.5 South Korea Chocolate Spread Market
10.3.6.5.1 South Korea Chocolate Spread Market by Packaging Type
10.3.6.5.2 South Korea Chocolate Spread Market by Category
10.3.6.5.3 South Korea Chocolate Spread Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Chocolate Spread Market
10.3.6.6.1 Rest of Asia-Pacific Chocolate Spread Market by Packaging Type
10.3.6.6.2 Rest of Asia-Pacific Chocolate Spread Market by Category
10.3.6.6.3 Rest of Asia-Pacific Chocolate Spread Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Chocolate Spread Market Overview
10.4.2 Middle East and Africa Chocolate Spread Market Forecasts and Analysis
10.4.3 Middle East and Africa Chocolate Spread Market Forecasts and Analysis - By Packaging Type
10.4.4 Middle East and Africa Chocolate Spread Market Forecasts and Analysis - By Category
10.4.5 Middle East and Africa Chocolate Spread Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Chocolate Spread Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Chocolate Spread Market
10.4.6.1.1 South Africa Chocolate Spread Market by Packaging Type
10.4.6.1.2 South Africa Chocolate Spread Market by Category
10.4.6.1.3 South Africa Chocolate Spread Market by Distribution Channel
10.4.6.2 Saudi Arabia Chocolate Spread Market
10.4.6.2.1 Saudi Arabia Chocolate Spread Market by Packaging Type
10.4.6.2.2 Saudi Arabia Chocolate Spread Market by Category
10.4.6.2.3 Saudi Arabia Chocolate Spread Market by Distribution Channel
10.4.6.3 U.A.E Chocolate Spread Market
10.4.6.3.1 U.A.E Chocolate Spread Market by Packaging Type
10.4.6.3.2 U.A.E Chocolate Spread Market by Category
10.4.6.3.3 U.A.E Chocolate Spread Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Chocolate Spread Market
10.4.6.4.1 Rest of Middle East and Africa Chocolate Spread Market by Packaging Type
10.4.6.4.2 Rest of Middle East and Africa Chocolate Spread Market by Category
10.4.6.4.3 Rest of Middle East and Africa Chocolate Spread Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Chocolate Spread Market Overview
10.5.2 South and Central America Chocolate Spread Market Forecasts and Analysis
10.5.3 South and Central America Chocolate Spread Market Forecasts and Analysis - By Packaging Type
10.5.4 South and Central America Chocolate Spread Market Forecasts and Analysis - By Category
10.5.5 South and Central America Chocolate Spread Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Chocolate Spread Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Chocolate Spread Market
10.5.6.1.1 Brazil Chocolate Spread Market by Packaging Type
10.5.6.1.2 Brazil Chocolate Spread Market by Category
10.5.6.1.3 Brazil Chocolate Spread Market by Distribution Channel
10.5.6.2 Argentina Chocolate Spread Market
10.5.6.2.1 Argentina Chocolate Spread Market by Packaging Type
10.5.6.2.2 Argentina Chocolate Spread Market by Category
10.5.6.2.3 Argentina Chocolate Spread Market by Distribution Channel
10.5.6.3 Rest of South and Central America Chocolate Spread Market
10.5.6.3.1 Rest of South and Central America Chocolate Spread Market by Packaging Type
10.5.6.3.2 Rest of South and Central America Chocolate Spread Market by Category
10.5.6.3.3 Rest of South and Central America Chocolate Spread Market by Distribution Channel
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. CHOCOLATE SPREAD MARKET, KEY COMPANY PROFILES
12.1. B AND G FOODS INC.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. DR. OETKER
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. FERRERO GROUP
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HORMEL FOODS CORPORATION
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. KRAFT FOODS
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MONDELEZ INTERNATIONAL
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NESTLE
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. NUTIVA INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. THE HERSHEY COMPANY
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. THE J.M. SMUCKER COMPANY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. B and G Foods Inc.
2. Dr. Oetker
3. Ferrero Group
4. Hormel Foods Corporation
5. Kraft Foods
6. Mondelez International
7. Nestle
8. Nutiva Inc.
9. The Hershey Company
10. The J.M. Smucker Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For