Citrus Flavour Market Strategies and Trends - 2031
The Citrus Flavour Market is expected to register a CAGR of 4.8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Citrus Flavour Market Research Report shall feature a complete analysis of the marketplace as it exists at present and future growth prospects. This report also categorizes the market by ingredients into Natural Citrus Flavours, Synthetic Citrus Flavours, and Organic Citrus Flavours. Thereafter, based on application areas, analysis is presented, comprising Bakery and Cenfectionary, Dairy and Frozen Desserts, Beverage, Sweet and Savory Snacks
The overall global analysis is segmented into regions with regional importance, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The segmentation is of help to the stakeholders, which not only helps understand local trends but also consumer preferences and avenues for growth that one can undertake in these regions. This market evaluation is given in US dollars (US$) for the above segmental analysis and encompasses the market size, growth trajectories, and forecasts.
The report Citrus Flavour Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Citrus Flavour Market Segmentation
ingredients- Natural
- Synethetic
- Bakery and confectionary
- Dairy and Frozen Desserts
- Breakfast cereals
- Sweet and savory snacks
Strategic Insights
Citrus Flavour Market Growth Drivers- Increasing demand for clean-label products: Consumers are now more educated about what goes into the food and beverages they take and increasingly demand products that have no artificial additives or preservatives. This increases demand for natural citrus flavors, which are deemed safer and healthier substitutes compared to synthetic flavorings. Another influential driver is the clean-label movement, which was more prevalent in Europe and North America. This movement has surmised a greater demand for natural citrus flavoring in beverages and bakery and confectionery products. According to results of the Nielsen study, 68% of global consumers are willing to pay more for the product that does not contain unwanted ingredients, thus proving once again the influence of the citrus flavour market growth driver .
- Mushrooming Popularity of Functional Beverages: Flavored beverages containing citrus, some of which offer immunity-boosting health advantages, find acceptance among the masses. Vitamins are abundant in citrus fruits, and this is one of the major marketing aspects behind these juices. Citrus flavors are playing an important role in this growth as such significant contribution can be perceived in segments like sports drinks, flavored water, and energy drinks. The functional beverage market, globally was around USD 130 billion in 2020.
- Consumer interest in exotic and innovative flavors: Citrus flavors are also versatile and strong, thus coordinating with other fruit and spice flavors. As a result, the citrus flavors are increasingly used in new product launches. For example, many companies are experimenting with citrus flavors mixed with herbs like basil or spices like ginger to create a unique taste experience. Growing demand for innovative flavors has been a significant driver of increased citrus-flavored product share in the global flavor market, which is forecast to steadily expand in the next years.
- Expansion of the processed food industry: With the increasing demand for ready-to-eat meals, snack food, and packaged beverages, manufacturers are incorporating citrus flavors to a large extent into various products.
- Reformulation of products: Consumers demand natural and clean-label products. Consumers are likely to be fearful of artificial ingredients and additives and, therefore, the consumption of natural citrus flavors that go hand in hand with real fruit. Companies respond by reformulation of products that hold natural flavors appealing to the health-conscious consumer.
- Health and Wellness Trend: The health and wellness trend continues to influence the preference for consumption of the modern-day consumer, favoring citrus flavors, tagged to health bene?ciary products.
- Sustainable Sourcing: Sustainability has become a topic of great interest in the food and beverage industry, which impacts citrus flavor sourcing and production. Companies are especially now sourcing citrus fruits from sustainable farms and minimizing environmental impact in flavor production. Commitment towards sustainability resonates well with consumer preference for brands that care about sustainable sourcing and green action.
- Transperancy in sourcing and manufacturing: The citrus flavor market presents many growth and innovation opportunities based on rapidly changing consumer preferences and industry trends. The leading opportunity is the use of natural and organic products, mainly due to the rise in demand for such products by health-conscious consumers. Consumers today are much healthier than ever, and they demand food and beverage items that are chemical-free and do not have any added preservatives, thus raising demand for natural and organic-based foods. This shift will unlock a vast market in natural citrus flavors, and all food and beverage manufacturers will have to look out for the best possible source of high-quality, organic citrus extracts. Those firms that have a robust policy of greater transparency in sourcing their ingredients and pointing out the natural origin of the citrus flavors are much more likely to emerge as winners.
- Product differentiation: This trend will also expand the sector of functional food and beverages. Of late, more and more consumers have become interested in health and wellness. Consequently, an effective drive for these products would be to entice consumers to buy things that deliver nutritional benefits in the products themselves. Citrus flavors have vitamin C content and are antioxidants, thus readily added to functional beverages, supplements, or health-oriented snack foods. This integration opens an excellent opportunity for product innovation that responds to a health-conscious consumer looking for immunity boosters or functional hydration.
- Flavor innovation thus opens up doors in product development, allowing for a great deal of creativity. For example, citrus flavor can now be offered from combinations with unique and exotic fruits, herbs, and spices. Such experimentation may lead to the creation of unique taste profiles that consumers with adventurous palates will love. Innovative citrus-infused products, therefore, help the brands to get noticed in the midst of competition and appeal to those looking for something novel.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Citrus Flavour Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Citrus Flavour Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
Key players in citrus flavor market are - Cargill Inc, Citromax Flavors Inc, Firmenich International SA, Frutarom Industries Ltd, Givaudan SA, International Flavors and Fragrances Inc, Kerry Group Plc, Sensient Technologies Corporation, Symrise AG
The market is expected to register a CAGR of 4.8% during 2023-2031
Consumer interest in citrus-flavored products has increased due to a number of factors, including growing demand for natural ingredients, health and wellness trends, functional beverage expansion, flavor innovation, premiumization, sustainability concerns, and growth in emerging markets.
Future trends in the citrus flavor market include increasing preference for natural and organic options, innovative flavor combinations, growth in functional food and beverage sectors, sustainability initiatives, and rising consumer interest in premium products that enhance health and wellness.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Citrus Flavour Market - By Ingredients
1.3.2 Citrus Flavour Market - By Application
1.3.3 Citrus Flavour Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CITRUS FLAVOUR 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. CITRUS FLAVOUR 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. CITRUS FLAVOUR MARKET - GLOBAL MARKET ANALYSIS
6.1. CITRUS FLAVOUR - GLOBAL MARKET OVERVIEW
6.2. CITRUS FLAVOUR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CITRUS FLAVOUR MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENTS
7.1. OVERVIEW
7.2. INGREDIENTS MARKET FORECASTS AND ANALYSIS
7.3. NATURAL
7.3.1. Overview
7.3.2. Natural Market Forecast and Analysis
7.4. SYNTHETIC
7.4.1. Overview
7.4.2. Synthetic Market Forecast and Analysis
8. CITRUS FLAVOUR MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BAKERY AND CONFECTIONERY
8.3.1. Overview
8.3.2. Bakery and Confectionery Market Forecast and Analysis
8.4. DAIRY AND FROZEN DESSERTS
8.4.1. Overview
8.4.2. Dairy and Frozen Desserts Market Forecast and Analysis
8.5. BEVERAGES
8.5.1. Overview
8.5.2. Beverages Market Forecast and Analysis
8.6. BREAKFAST CEREALS
8.6.1. Overview
8.6.2. Breakfast Cereals Market Forecast and Analysis
8.7. SWEET AND SAVORY SNACKS
8.7.1. Overview
8.7.2. Sweet and Savory Snacks Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. CITRUS FLAVOUR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Citrus Flavour Market Overview
9.1.2 North America Citrus Flavour Market Forecasts and Analysis
9.1.3 North America Citrus Flavour Market Forecasts and Analysis - By Ingredients
9.1.4 North America Citrus Flavour Market Forecasts and Analysis - By Application
9.1.5 North America Citrus Flavour Market Forecasts and Analysis - By Countries
9.1.5.1 United States Citrus Flavour Market
9.1.5.1.1 United States Citrus Flavour Market by Ingredients
9.1.5.1.2 United States Citrus Flavour Market by Application
9.1.5.2 Canada Citrus Flavour Market
9.1.5.2.1 Canada Citrus Flavour Market by Ingredients
9.1.5.2.2 Canada Citrus Flavour Market by Application
9.1.5.3 Mexico Citrus Flavour Market
9.1.5.3.1 Mexico Citrus Flavour Market by Ingredients
9.1.5.3.2 Mexico Citrus Flavour Market by Application
9.2. EUROPE
9.2.1 Europe Citrus Flavour Market Overview
9.2.2 Europe Citrus Flavour Market Forecasts and Analysis
9.2.3 Europe Citrus Flavour Market Forecasts and Analysis - By Ingredients
9.2.4 Europe Citrus Flavour Market Forecasts and Analysis - By Application
9.2.5 Europe Citrus Flavour Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Citrus Flavour Market
9.2.5.1.1 Germany Citrus Flavour Market by Ingredients
9.2.5.1.2 Germany Citrus Flavour Market by Application
9.2.5.2 France Citrus Flavour Market
9.2.5.2.1 France Citrus Flavour Market by Ingredients
9.2.5.2.2 France Citrus Flavour Market by Application
9.2.5.3 Italy Citrus Flavour Market
9.2.5.3.1 Italy Citrus Flavour Market by Ingredients
9.2.5.3.2 Italy Citrus Flavour Market by Application
9.2.5.4 United Kingdom Citrus Flavour Market
9.2.5.4.1 United Kingdom Citrus Flavour Market by Ingredients
9.2.5.4.2 United Kingdom Citrus Flavour Market by Application
9.2.5.5 Russia Citrus Flavour Market
9.2.5.5.1 Russia Citrus Flavour Market by Ingredients
9.2.5.5.2 Russia Citrus Flavour Market by Application
9.2.5.6 Rest of Europe Citrus Flavour Market
9.2.5.6.1 Rest of Europe Citrus Flavour Market by Ingredients
9.2.5.6.2 Rest of Europe Citrus Flavour Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Citrus Flavour Market Overview
9.3.2 Asia-Pacific Citrus Flavour Market Forecasts and Analysis
9.3.3 Asia-Pacific Citrus Flavour Market Forecasts and Analysis - By Ingredients
9.3.4 Asia-Pacific Citrus Flavour Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Citrus Flavour Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Citrus Flavour Market
9.3.5.1.1 Australia Citrus Flavour Market by Ingredients
9.3.5.1.2 Australia Citrus Flavour Market by Application
9.3.5.2 China Citrus Flavour Market
9.3.5.2.1 China Citrus Flavour Market by Ingredients
9.3.5.2.2 China Citrus Flavour Market by Application
9.3.5.3 India Citrus Flavour Market
9.3.5.3.1 India Citrus Flavour Market by Ingredients
9.3.5.3.2 India Citrus Flavour Market by Application
9.3.5.4 Japan Citrus Flavour Market
9.3.5.4.1 Japan Citrus Flavour Market by Ingredients
9.3.5.4.2 Japan Citrus Flavour Market by Application
9.3.5.5 South Korea Citrus Flavour Market
9.3.5.5.1 South Korea Citrus Flavour Market by Ingredients
9.3.5.5.2 South Korea Citrus Flavour Market by Application
9.3.5.6 Rest of Asia-Pacific Citrus Flavour Market
9.3.5.6.1 Rest of Asia-Pacific Citrus Flavour Market by Ingredients
9.3.5.6.2 Rest of Asia-Pacific Citrus Flavour Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Citrus Flavour Market Overview
9.4.2 Middle East and Africa Citrus Flavour Market Forecasts and Analysis
9.4.3 Middle East and Africa Citrus Flavour Market Forecasts and Analysis - By Ingredients
9.4.4 Middle East and Africa Citrus Flavour Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Citrus Flavour Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Citrus Flavour Market
9.4.5.1.1 South Africa Citrus Flavour Market by Ingredients
9.4.5.1.2 South Africa Citrus Flavour Market by Application
9.4.5.2 Saudi Arabia Citrus Flavour Market
9.4.5.2.1 Saudi Arabia Citrus Flavour Market by Ingredients
9.4.5.2.2 Saudi Arabia Citrus Flavour Market by Application
9.4.5.3 U.A.E Citrus Flavour Market
9.4.5.3.1 U.A.E Citrus Flavour Market by Ingredients
9.4.5.3.2 U.A.E Citrus Flavour Market by Application
9.4.5.4 Rest of Middle East and Africa Citrus Flavour Market
9.4.5.4.1 Rest of Middle East and Africa Citrus Flavour Market by Ingredients
9.4.5.4.2 Rest of Middle East and Africa Citrus Flavour Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Citrus Flavour Market Overview
9.5.2 South and Central America Citrus Flavour Market Forecasts and Analysis
9.5.3 South and Central America Citrus Flavour Market Forecasts and Analysis - By Ingredients
9.5.4 South and Central America Citrus Flavour Market Forecasts and Analysis - By Application
9.5.5 South and Central America Citrus Flavour Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Citrus Flavour Market
9.5.5.1.1 Brazil Citrus Flavour Market by Ingredients
9.5.5.1.2 Brazil Citrus Flavour Market by Application
9.5.5.2 Argentina Citrus Flavour Market
9.5.5.2.1 Argentina Citrus Flavour Market by Ingredients
9.5.5.2.2 Argentina Citrus Flavour Market by Application
9.5.5.3 Rest of South and Central America Citrus Flavour Market
9.5.5.3.1 Rest of South and Central America Citrus Flavour Market by Ingredients
9.5.5.3.2 Rest of South and Central America Citrus Flavour Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. CITRUS FLAVOUR MARKET, KEY COMPANY PROFILES
11.1. CARGILL INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CITROMAX FLAVORS INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FIRMENICH INTERNATIONAL SA
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FRUTAROM INDUSTRIES LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GIVAUDAN SA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. INTERNATIONAL FLAVORS AND FRAGRANCES INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KERRY GROUP PLC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SENSIENT TECHNOLOGIES CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SYMRISE AG
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TAKASAGO INTERNATIONAL CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Cargill Inc.
2. Citromax Flavors Inc.
3. Firmenich International SA
4. Frutarom Industries Ltd.
5. Givaudan SA
6. International Flavors and Fragrances Inc.
7. Kerry Group Plc
8. Sensient Technologies Corporation
9. Symrise AG
10. Takasago International Corporation
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.
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