Citrus Oil Market Key Findings by 2031
The citrus oil market is expected to register a CAGR of 4% during 2023–2031. The growing demand for aromatherapy among consumers is likely to remain a key trend in the market.
Citrus Oil Market Analysis
- The growing trend of consumer preference for natural and organic products is expected to fuel the citrus oil demand in the next few years.
- The increase in demand for natural ingredients in the cosmetics, personal care, food and beverage industries is expected to augment the citrus oil market.
Citrus Oil Market Overview
- This increase in demand for citrus essential oil is due to the changes in the consumer behaviour of using natural products as consumer awareness is increasing. Citrus fruits, the raw material for citrus peel oil manufacturing, are widely available and are the driving force behind increasing its production and reduction in prices.
- Citrus oil from essential oils is more expensive than that of ordinary oils and is not meant for a larger number of consumers. The lack of consumer awareness about the benefits of tangerine oil also hinders the industry's 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.
Citrus Oil 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.
Citrus Oil 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
Citrus Oil Market Drivers and Opportunities
Growing Preference for Plant-Based Products
- Natural and plant-derived ingredients are being preferred by consumers in the food and beverages, cosmetics and personal care sectors.
- Citrus oils are increasingly being used for their natural fragrance and health benefits in these products.
- As the popularity of aromatherapy and essential oils for various therapeutic uses increases, demand for citrus oils is growing. These oils contain compounds that have pleasant aromas, which can enhance mood and relieve stress.
Rising Adoption of Food and Beverage Industry
- Citrus oils are used in the food and beverage industry as a flavouring and aroma component of bakery products, beverages and salads.
- It is anticipated that demand for citrus oils in this application will continue to grow.
Citrus Oil Market Report Segmentation Analysis
Key segments that contributed to the derivation of the citrus oil market analysis are deployment type and enterprise size.
- Based on product type, the citrus oil market is divided into orange oil, lemon oil, lime oil, grapefruit oil, and others.
- Based on extraction method, the citrus oil is segregated into seam distillation, cold pressed, and hydro distillation.
- Based on distribution channel, the citrus oil is segmented into retail store, specialty store, online store, and others.
- Based on application, the citrus oil market is categorized into food and beverages, personal care and cosmetics, aromatherapy, pharmaceuticals, and others.
Citrus Oil Market Share Analysis by Geography
- Citrus Oil 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 citrus oil 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 citrus oil market in these regions.
Citrus Oil Market Report Scope
Citrus Oil Market News and Recent Developments
The citrus oil market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the citrus oil market are listed below:
- Ultra International and Ecospice Ingredients PVT. LTD have joined forces to create an exciting partnership and a new portfolio of products. Ultra’s expertise in sourcing organic raw materials and essential oils and its focus on sustainability, combined with Ecospice’s dedication to eco-friendly practices, means this collaboration will provide a sustainable solution to custom. (Source: Ultra International B.V., Company News, Feb 2024)
Citrus Oil Market Report Coverage and Deliverables
The “Citrus Oil Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Citrus oil market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Citrus oil market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Citrus oil 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 for the citrus oil 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 citrus oil market is expected to grow at a CAGR of 4% during the forecast period 2023 - 2031.
The increasing preference for plant-based products is one of the major factors driving the citrus oil market.
Growing demand for aromatherapy is anticipated to play a significant role in the global citrus oil market in the coming years.
The leading players operating in the citrus oil market are Bontoux, Citromax S.A.C.I., Citrosuco, Citrus and Allied Essences Ltd., Citrus Oleo, Lionel Hitchen Limited, Moksha Lifestyle, Mountain Rose Herbs, Symrise AG, and Young Living Essential Oils LC.
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.
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 Citrus Oil Market - By Product Type
1.3.2 Citrus Oil Market - By Extraction Method
1.3.3 Citrus Oil Market - By Distribution Channel
1.3.4 Citrus Oil Market - By Application
1.3.5 Citrus Oil Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CITRUS OIL 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 OIL 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 OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. CITRUS OIL - GLOBAL MARKET OVERVIEW
6.2. CITRUS OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CITRUS OIL MARKET - REVENUE AND FORECASTS TO 2028 – PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. ORANGE OIL
7.3.1. Overview
7.3.2. Orange Oil Market Forecast and Analysis
7.4. LEMON OIL
7.4.1. Overview
7.4.2. Lemon Oil Market Forecast and Analysis
7.5. LIME OIL
7.5.1. Overview
7.5.2. Lime Oil Market Forecast and Analysis
7.6. GRAPEFRUIT OIL
7.6.1. Overview
7.6.2. Grapefruit Oil Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. CITRUS OIL MARKET - REVENUE AND FORECASTS TO 2028 – EXTRACTION METHOD
8.1. OVERVIEW
8.2. EXTRACTION METHOD MARKET FORECASTS AND ANALYSIS
8.3. SEAM DISTILLATION
8.3.1. Overview
8.3.2. Seam Distillation Market Forecast and Analysis
8.4. COLD PRESSED
8.4.1. Overview
8.4.2. Cold Pressed Market Forecast and Analysis
8.5. HYDRO DISTILLATION
8.5.1. Overview
8.5.2. Hydro Distillation Market Forecast and Analysis
9. CITRUS OIL MARKET - REVENUE AND FORECASTS TO 2028 – DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. RETAIL STORE
9.3.1. Overview
9.3.2. Retail Store Market Forecast and Analysis
9.4. SPECIALTY STORE
9.4.1. Overview
9.4.2. Specialty Store Market Forecast and Analysis
9.5. ONLINE STORE
9.5.1. Overview
9.5.2. Online Store Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. CITRUS OIL MARKET - REVENUE AND FORECASTS TO 2028 – APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. FOOD AND BEVERAGES
10.3.1. Overview
10.3.2. Food and Beverages Market Forecast and Analysis
10.4. PERSONAL CARE AND COSMETICS
10.4.1. Overview
10.4.2. Personal Care and Cosmetics Market Forecast and Analysis
10.5. AROMATHERAPY
10.5.1. Overview
10.5.2. Aromatherapy Market Forecast and Analysis
10.6. PHARMACEUTICALS
10.6.1. Overview
10.6.2. Pharmaceuticals Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. CITRUS OIL MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Citrus Oil Market Overview
11.1.2 North America Citrus Oil Market Forecasts and Analysis
11.1.3 North America Citrus Oil Market Forecasts and Analysis - By Product Type
11.1.4 North America Citrus Oil Market Forecasts and Analysis - By Extraction Method
11.1.5 North America Citrus Oil Market Forecasts and Analysis - By Distribution Channel
11.1.6 North America Citrus Oil Market Forecasts and Analysis - By Application
11.1.7 North America Citrus Oil Market Forecasts and Analysis - By Countries
11.1.7.1 United States Citrus Oil Market
11.1.7.1.1 United States Citrus Oil Market by Product Type
11.1.7.1.2 United States Citrus Oil Market by Extraction Method
11.1.7.1.3 United States Citrus Oil Market by Distribution Channel
11.1.7.1.4 United States Citrus Oil Market by Application
11.1.7.2 Canada Citrus Oil Market
11.1.7.2.1 Canada Citrus Oil Market by Product Type
11.1.7.2.2 Canada Citrus Oil Market by Extraction Method
11.1.7.2.3 Canada Citrus Oil Market by Distribution Channel
11.1.7.2.4 Canada Citrus Oil Market by Application
11.1.7.3 Mexico Citrus Oil Market
11.1.7.3.1 Mexico Citrus Oil Market by Product Type
11.1.7.3.2 Mexico Citrus Oil Market by Extraction Method
11.1.7.3.3 Mexico Citrus Oil Market by Distribution Channel
11.1.7.3.4 Mexico Citrus Oil Market by Application
11.2. EUROPE
11.2.1 Europe Citrus Oil Market Overview
11.2.2 Europe Citrus Oil Market Forecasts and Analysis
11.2.3 Europe Citrus Oil Market Forecasts and Analysis - By Product Type
11.2.4 Europe Citrus Oil Market Forecasts and Analysis - By Extraction Method
11.2.5 Europe Citrus Oil Market Forecasts and Analysis - By Distribution Channel
11.2.6 Europe Citrus Oil Market Forecasts and Analysis - By Application
11.2.7 Europe Citrus Oil Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Citrus Oil Market
11.2.7.1.1 Germany Citrus Oil Market by Product Type
11.2.7.1.2 Germany Citrus Oil Market by Extraction Method
11.2.7.1.3 Germany Citrus Oil Market by Distribution Channel
11.2.7.1.4 Germany Citrus Oil Market by Application
11.2.7.2 France Citrus Oil Market
11.2.7.2.1 France Citrus Oil Market by Product Type
11.2.7.2.2 France Citrus Oil Market by Extraction Method
11.2.7.2.3 France Citrus Oil Market by Distribution Channel
11.2.7.2.4 France Citrus Oil Market by Application
11.2.7.3 Italy Citrus Oil Market
11.2.7.3.1 Italy Citrus Oil Market by Product Type
11.2.7.3.2 Italy Citrus Oil Market by Extraction Method
11.2.7.3.3 Italy Citrus Oil Market by Distribution Channel
11.2.7.3.4 Italy Citrus Oil Market by Application
11.2.7.4 United Kingdom Citrus Oil Market
11.2.7.4.1 United Kingdom Citrus Oil Market by Product Type
11.2.7.4.2 United Kingdom Citrus Oil Market by Extraction Method
11.2.7.4.3 United Kingdom Citrus Oil Market by Distribution Channel
11.2.7.4.4 United Kingdom Citrus Oil Market by Application
11.2.7.5 Russia Citrus Oil Market
11.2.7.5.1 Russia Citrus Oil Market by Product Type
11.2.7.5.2 Russia Citrus Oil Market by Extraction Method
11.2.7.5.3 Russia Citrus Oil Market by Distribution Channel
11.2.7.5.4 Russia Citrus Oil Market by Application
11.2.7.6 Rest of Europe Citrus Oil Market
11.2.7.6.1 Rest of Europe Citrus Oil Market by Product Type
11.2.7.6.2 Rest of Europe Citrus Oil Market by Extraction Method
11.2.7.6.3 Rest of Europe Citrus Oil Market by Distribution Channel
11.2.7.6.4 Rest of Europe Citrus Oil Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Citrus Oil Market Overview
11.3.2 Asia-Pacific Citrus Oil Market Forecasts and Analysis
11.3.3 Asia-Pacific Citrus Oil Market Forecasts and Analysis - By Product Type
11.3.4 Asia-Pacific Citrus Oil Market Forecasts and Analysis - By Extraction Method
11.3.5 Asia-Pacific Citrus Oil Market Forecasts and Analysis - By Distribution Channel
11.3.6 Asia-Pacific Citrus Oil Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Citrus Oil Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Citrus Oil Market
11.3.7.1.1 Australia Citrus Oil Market by Product Type
11.3.7.1.2 Australia Citrus Oil Market by Extraction Method
11.3.7.1.3 Australia Citrus Oil Market by Distribution Channel
11.3.7.1.4 Australia Citrus Oil Market by Application
11.3.7.2 China Citrus Oil Market
11.3.7.2.1 China Citrus Oil Market by Product Type
11.3.7.2.2 China Citrus Oil Market by Extraction Method
11.3.7.2.3 China Citrus Oil Market by Distribution Channel
11.3.7.2.4 China Citrus Oil Market by Application
11.3.7.3 India Citrus Oil Market
11.3.7.3.1 India Citrus Oil Market by Product Type
11.3.7.3.2 India Citrus Oil Market by Extraction Method
11.3.7.3.3 India Citrus Oil Market by Distribution Channel
11.3.7.3.4 India Citrus Oil Market by Application
11.3.7.4 Japan Citrus Oil Market
11.3.7.4.1 Japan Citrus Oil Market by Product Type
11.3.7.4.2 Japan Citrus Oil Market by Extraction Method
11.3.7.4.3 Japan Citrus Oil Market by Distribution Channel
11.3.7.4.4 Japan Citrus Oil Market by Application
11.3.7.5 South Korea Citrus Oil Market
11.3.7.5.1 South Korea Citrus Oil Market by Product Type
11.3.7.5.2 South Korea Citrus Oil Market by Extraction Method
11.3.7.5.3 South Korea Citrus Oil Market by Distribution Channel
11.3.7.5.4 South Korea Citrus Oil Market by Application
11.3.7.6 Rest of Asia-Pacific Citrus Oil Market
11.3.7.6.1 Rest of Asia-Pacific Citrus Oil Market by Product Type
11.3.7.6.2 Rest of Asia-Pacific Citrus Oil Market by Extraction Method
11.3.7.6.3 Rest of Asia-Pacific Citrus Oil Market by Distribution Channel
11.3.7.6.4 Rest of Asia-Pacific Citrus Oil Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Citrus Oil Market Overview
11.4.2 Middle East and Africa Citrus Oil Market Forecasts and Analysis
11.4.3 Middle East and Africa Citrus Oil Market Forecasts and Analysis - By Product Type
11.4.4 Middle East and Africa Citrus Oil Market Forecasts and Analysis - By Extraction Method
11.4.5 Middle East and Africa Citrus Oil Market Forecasts and Analysis - By Distribution Channel
11.4.6 Middle East and Africa Citrus Oil Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Citrus Oil Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Citrus Oil Market
11.4.7.1.1 South Africa Citrus Oil Market by Product Type
11.4.7.1.2 South Africa Citrus Oil Market by Extraction Method
11.4.7.1.3 South Africa Citrus Oil Market by Distribution Channel
11.4.7.1.4 South Africa Citrus Oil Market by Application
11.4.7.2 Saudi Arabia Citrus Oil Market
11.4.7.2.1 Saudi Arabia Citrus Oil Market by Product Type
11.4.7.2.2 Saudi Arabia Citrus Oil Market by Extraction Method
11.4.7.2.3 Saudi Arabia Citrus Oil Market by Distribution Channel
11.4.7.2.4 Saudi Arabia Citrus Oil Market by Application
11.4.7.3 U.A.E Citrus Oil Market
11.4.7.3.1 U.A.E Citrus Oil Market by Product Type
11.4.7.3.2 U.A.E Citrus Oil Market by Extraction Method
11.4.7.3.3 U.A.E Citrus Oil Market by Distribution Channel
11.4.7.3.4 U.A.E Citrus Oil Market by Application
11.4.7.4 Rest of Middle East and Africa Citrus Oil Market
11.4.7.4.1 Rest of Middle East and Africa Citrus Oil Market by Product Type
11.4.7.4.2 Rest of Middle East and Africa Citrus Oil Market by Extraction Method
11.4.7.4.3 Rest of Middle East and Africa Citrus Oil Market by Distribution Channel
11.4.7.4.4 Rest of Middle East and Africa Citrus Oil Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Citrus Oil Market Overview
11.5.2 South and Central America Citrus Oil Market Forecasts and Analysis
11.5.3 South and Central America Citrus Oil Market Forecasts and Analysis - By Product Type
11.5.4 South and Central America Citrus Oil Market Forecasts and Analysis - By Extraction Method
11.5.5 South and Central America Citrus Oil Market Forecasts and Analysis - By Distribution Channel
11.5.6 South and Central America Citrus Oil Market Forecasts and Analysis - By Application
11.5.7 South and Central America Citrus Oil Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Citrus Oil Market
11.5.7.1.1 Brazil Citrus Oil Market by Product Type
11.5.7.1.2 Brazil Citrus Oil Market by Extraction Method
11.5.7.1.3 Brazil Citrus Oil Market by Distribution Channel
11.5.7.1.4 Brazil Citrus Oil Market by Application
11.5.7.2 Argentina Citrus Oil Market
11.5.7.2.1 Argentina Citrus Oil Market by Product Type
11.5.7.2.2 Argentina Citrus Oil Market by Extraction Method
11.5.7.2.3 Argentina Citrus Oil Market by Distribution Channel
11.5.7.2.4 Argentina Citrus Oil Market by Application
11.5.7.3 Rest of South and Central America Citrus Oil Market
11.5.7.3.1 Rest of South and Central America Citrus Oil Market by Product Type
11.5.7.3.2 Rest of South and Central America Citrus Oil Market by Extraction Method
11.5.7.3.3 Rest of South and Central America Citrus Oil Market by Distribution Channel
11.5.7.3.4 Rest of South and Central America Citrus Oil Market by Application
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. CITRUS OIL MARKET, KEY COMPANY PROFILES
13.1. BONTOUX
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CITROMAX S.A.C.I.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. CITROSUCO
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CITRUS AND ALLIED ESSENCES LTD.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. CITRUS OLEO
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. LIONEL HITCHEN LIMITED
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MOKSHA LIFESTYLE
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. MOUNTAIN ROSE HERBS
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SYMRISE AG
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. YOUNG LIVING ESSENTIAL OILS LC
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Bontoux
2. Citromax S.A.C.I.
3. Citrosuco
4. Citrus and Allied Essences Ltd.
5. Citrus Oleo
6. Lionel Hitchen Limited
7. Moksha Lifestyle
8. Mountain Rose Herbs
9. Symrise AG
10. Young Living Essential Oils LC
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