Craft Vodka Market Key Players Analysis 2031
The craft vodka market is expected to register a CAGR of 6% during 2023 – 2031. The craft vodka market is growing due to rising demand for premium and craft products.
Craft Vodka Market Analysis
- The craft vodka market is showing positive growth, driven by increasing number of alcohol consumption, cultural revival – interest in cocktails, used into bars and restaurants, and awareness of its historical significance.
- The shift in consumer preference is reflected in the vodka category as younger consumers such as millennials are more willing to experiment with craft vodkas that deliver authentic tastes and feature interesting stories of their production.
- Craft vodka market also faces a few challenges such as intense competition within the spirits industry, mainly from other premium and crafts spirits, limited distribution channels and lower shelf life, crowded alcohol and beverage marketplace.
- Major market players are focused on strategic developments such as joint ventures, partnerships, product launches, innovations, and collaborations to meet growing consumer demands and expand their geographical presence.
Craft Vodka Market Overview
- The craft vodka market is growing due to various drivers which includes the consumers’ transition towards premium alcoholic beverages
- The growth can also be seen due to the rising disposable income in the emerging markets i.e., Asia Pacific region.
- The proliferation of craft distilleries can be seen as a contributing factor to rising sales of craft vodka.
- Many small producers focus on quality, small-batch production and innovation, leading to wider variety of products and more niche opportunities. With a growing number of artisanal producers, competition within the vodka segment is on the rise, leading to a larger culture of experimentation.
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Craft Vodka Market: Strategic Insights
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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.
Craft Vodka Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Craft Vodka Market Drivers and Opportunities
Consumer Preferences for Artisanal Spirits to Favor the Market
Key driver fuelling the craft vodka market growth includes, renewed interest in historical and artisanal spirits, growth in craft cocktails and mixology, craft vodka-focused bars and tourism experiences, increased exposure and interest of people from different ethnicities, emerging trends towards natural and herbal products. People are becoming more discerning about what they drink, eager to sample interesting flavours and unusual ingredients, and craft vodka, typically made in small batches and to high standards, aspires to offer them the sense of provenance and uniqueness lacking in mainstream brands.
As per the Distilled Spirits Council of The United States report published in Feb-2024, the US spirits exports totalled 42.2 billion in 2023 an increase by 8% compared to last year and for American Spirits the records showed exports being totalled to US$ 1.4 billion an increase of 9% from 2022. Therefore, the growing preference for artisanal spirits are ramping up the global craft vodka market.
Strategic Product Launches by Key Market Players
The market holds considerable opportunities such as, increasing demand for flavored craft vodka, owing to the rising consumer preference for cocktails and innovative flavors. This market is dominated by numerous product innovations, such as flavored vodkas, which facilitates expansion of its consumer base; with health-conscious drinkers as well as taste-diversified consumer segments. Besides, the sector is benefiting from expansion and improvement of product portfolios in this relatively new segment of the market. Constant development and launch of new flavors and formulations can effectively sustain consumer demands and can effectively gel into experimentation, thus, aiding in market growth. The increasing demand for innovative products from consumers offers the opportunity for manufacturers to launch craft vodka.
Craft Vodka Market Segmentation Analysis
Key segments that contributed to the derivation of the craft vodka market analysis are category, and distribution channel.
- Based on category, the craft vodka market is divided into flavored, and conventional.
- On the basis of distribution channel, the market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others.
Craft Vodka Market Share Analysis by Geography
- Craft vodka 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, Middle East & Africa, and South and Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering craft vodka 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 craft vodka market in these regions.
Craft Vodka Market Report Scope
Craft Vodka Market News and Recent Developments
The craft vodka 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 craft vodka market are listed below:
- Bicester Sky Wave Distillery launched brand new vodka. (Bicester Sky Wave Distillery/Press Release/June 2024)
- Newport Craft Distilling acquired KEEL vodka, expanding their spirits lineup. (Source: Newport Craft Distilling/Press Release/June 2024)
Craft Vodka Market Report Coverage and Deliverables
The “Craft Vodka Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Craft vodka market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Craft vodka market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces analysis and SWOT analysis
- Craft vodka 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 craft vodka 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 craft vodka market is estimated to grow at a CAGR of 6% during the forecast period 2024-2031.
Increasing alcohol consumption and growing demand for artisanal craft spirits are driving factors impacting the craft vodka market.
Rising influence of social media and market strategies is anticipated to play a significant role in the craft vodka market in the coming years.
Tito’s Handmade Vodka, St. George Spirits, Prairie Organic Spirits, Chase Distillery, Deep Eddy Vodka, Cathead Distillery, New Amsterdam Vodka, and Koval Distillery among others are the leading players operating in the craft vodka market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on 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
1.3.1Craft Vodka Market - By Type
1.3.2Craft Vodka Market - By Ingredients
1.3.3Craft Vodka Market - By Distribution Channel
1.3.4Craft Vodka Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.CRAFT VODKA MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.CRAFT VODKA 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.CRAFT VODKA MARKET - GLOBAL MARKET ANALYSIS
6.1.CRAFT VODKA - GLOBAL MARKET OVERVIEW
6.2.CRAFT VODKA - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.CRAFT VODKA MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.FLAVORED CRAFT VODKA
7.3.1.Overview
7.3.2.Flavored Craft Vodka Market Forecast and Analysis
7.4.UNFLAVORED CRAFT VODKA
7.4.1.Overview
7.4.2.Unflavored Craft Vodka Market Forecast and Analysis
8.CRAFT VODKA MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENTS
8.1.OVERVIEW
8.2.INGREDIENTS MARKET FORECASTS AND ANALYSIS
8.3.GRAINS
8.3.1.Overview
8.3.2.Grains Market Forecast and Analysis
8.4.VEGETABLES
8.4.1.Overview
8.4.2.Vegetables Market Forecast and Analysis
8.5.FRUITS
8.5.1.Overview
8.5.2.Fruits Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.CRAFT VODKA MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1.OVERVIEW
9.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3.CLUBS / BARS / PUBS
9.3.1.Overview
9.3.2.Clubs / Bars / Pubs Market Forecast and Analysis
9.4.RESTAURANTS / HOTELS
9.4.1.Overview
9.4.2.Restaurants / Hotels Market Forecast and Analysis
9.5.DISTRIBUTORS
9.5.1.Overview
9.5.2.Distributors Market Forecast and Analysis
9.6.RETAILERS
9.6.1.Overview
9.6.2.Retailers Market Forecast and Analysis
9.7.OTHERS.
9.7.1.Overview
9.7.2.Others. Market Forecast and Analysis
10.CRAFT VODKA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Craft Vodka Market Overview
10.1.2North America Craft Vodka Market Forecasts and Analysis
10.1.3North America Craft Vodka Market Forecasts and Analysis - By Type
10.1.4North America Craft Vodka Market Forecasts and Analysis - By Ingredients
10.1.5North America Craft Vodka Market Forecasts and Analysis - By Distribution Channel
10.1.6North America Craft Vodka Market Forecasts and Analysis - By Countries
10.1.6.1United States Craft Vodka Market
10.1.6.1.1United States Craft Vodka Market by Type
10.1.6.1.2United States Craft Vodka Market by Ingredients
10.1.6.1.3United States Craft Vodka Market by Distribution Channel
10.1.6.2Canada Craft Vodka Market
10.1.6.2.1Canada Craft Vodka Market by Type
10.1.6.2.2Canada Craft Vodka Market by Ingredients
10.1.6.2.3Canada Craft Vodka Market by Distribution Channel
10.1.6.3Mexico Craft Vodka Market
10.1.6.3.1Mexico Craft Vodka Market by Type
10.1.6.3.2Mexico Craft Vodka Market by Ingredients
10.1.6.3.3Mexico Craft Vodka Market by Distribution Channel
10.2.EUROPE
10.2.1Europe Craft Vodka Market Overview
10.2.2Europe Craft Vodka Market Forecasts and Analysis
10.2.3Europe Craft Vodka Market Forecasts and Analysis - By Type
10.2.4Europe Craft Vodka Market Forecasts and Analysis - By Ingredients
10.2.5Europe Craft Vodka Market Forecasts and Analysis - By Distribution Channel
10.2.6Europe Craft Vodka Market Forecasts and Analysis - By Countries
10.2.6.1Germany Craft Vodka Market
10.2.6.1.1Germany Craft Vodka Market by Type
10.2.6.1.2Germany Craft Vodka Market by Ingredients
10.2.6.1.3Germany Craft Vodka Market by Distribution Channel
10.2.6.2France Craft Vodka Market
10.2.6.2.1France Craft Vodka Market by Type
10.2.6.2.2France Craft Vodka Market by Ingredients
10.2.6.2.3France Craft Vodka Market by Distribution Channel
10.2.6.3Italy Craft Vodka Market
10.2.6.3.1Italy Craft Vodka Market by Type
10.2.6.3.2Italy Craft Vodka Market by Ingredients
10.2.6.3.3Italy Craft Vodka Market by Distribution Channel
10.2.6.4United Kingdom Craft Vodka Market
10.2.6.4.1United Kingdom Craft Vodka Market by Type
10.2.6.4.2United Kingdom Craft Vodka Market by Ingredients
10.2.6.4.3United Kingdom Craft Vodka Market by Distribution Channel
10.2.6.5Russia Craft Vodka Market
10.2.6.5.1Russia Craft Vodka Market by Type
10.2.6.5.2Russia Craft Vodka Market by Ingredients
10.2.6.5.3Russia Craft Vodka Market by Distribution Channel
10.2.6.6Rest of Europe Craft Vodka Market
10.2.6.6.1Rest of Europe Craft Vodka Market by Type
10.2.6.6.2Rest of Europe Craft Vodka Market by Ingredients
10.2.6.6.3Rest of Europe Craft Vodka Market by Distribution Channel
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Craft Vodka Market Overview
10.3.2Asia-Pacific Craft Vodka Market Forecasts and Analysis
10.3.3Asia-Pacific Craft Vodka Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Craft Vodka Market Forecasts and Analysis - By Ingredients
10.3.5Asia-Pacific Craft Vodka Market Forecasts and Analysis - By Distribution Channel
10.3.6Asia-Pacific Craft Vodka Market Forecasts and Analysis - By Countries
10.3.6.1Australia Craft Vodka Market
10.3.6.1.1Australia Craft Vodka Market by Type
10.3.6.1.2Australia Craft Vodka Market by Ingredients
10.3.6.1.3Australia Craft Vodka Market by Distribution Channel
10.3.6.2China Craft Vodka Market
10.3.6.2.1China Craft Vodka Market by Type
10.3.6.2.2China Craft Vodka Market by Ingredients
10.3.6.2.3China Craft Vodka Market by Distribution Channel
10.3.6.3India Craft Vodka Market
10.3.6.3.1India Craft Vodka Market by Type
10.3.6.3.2India Craft Vodka Market by Ingredients
10.3.6.3.3India Craft Vodka Market by Distribution Channel
10.3.6.4Japan Craft Vodka Market
10.3.6.4.1Japan Craft Vodka Market by Type
10.3.6.4.2Japan Craft Vodka Market by Ingredients
10.3.6.4.3Japan Craft Vodka Market by Distribution Channel
10.3.6.5South Korea Craft Vodka Market
10.3.6.5.1South Korea Craft Vodka Market by Type
10.3.6.5.2South Korea Craft Vodka Market by Ingredients
10.3.6.5.3South Korea Craft Vodka Market by Distribution Channel
10.3.6.6Rest of Asia-Pacific Craft Vodka Market
10.3.6.6.1Rest of Asia-Pacific Craft Vodka Market by Type
10.3.6.6.2Rest of Asia-Pacific Craft Vodka Market by Ingredients
10.3.6.6.3Rest of Asia-Pacific Craft Vodka Market by Distribution Channel
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Craft Vodka Market Overview
10.4.2Middle East and Africa Craft Vodka Market Forecasts and Analysis
10.4.3Middle East and Africa Craft Vodka Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Craft Vodka Market Forecasts and Analysis - By Ingredients
10.4.5Middle East and Africa Craft Vodka Market Forecasts and Analysis - By Distribution Channel
10.4.6Middle East and Africa Craft Vodka Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Craft Vodka Market
10.4.6.1.1South Africa Craft Vodka Market by Type
10.4.6.1.2South Africa Craft Vodka Market by Ingredients
10.4.6.1.3South Africa Craft Vodka Market by Distribution Channel
10.4.6.2Saudi Arabia Craft Vodka Market
10.4.6.2.1Saudi Arabia Craft Vodka Market by Type
10.4.6.2.2Saudi Arabia Craft Vodka Market by Ingredients
10.4.6.2.3Saudi Arabia Craft Vodka Market by Distribution Channel
10.4.6.3U.A.E Craft Vodka Market
10.4.6.3.1U.A.E Craft Vodka Market by Type
10.4.6.3.2U.A.E Craft Vodka Market by Ingredients
10.4.6.3.3U.A.E Craft Vodka Market by Distribution Channel
10.4.6.4Rest of Middle East and Africa Craft Vodka Market
10.4.6.4.1Rest of Middle East and Africa Craft Vodka Market by Type
10.4.6.4.2Rest of Middle East and Africa Craft Vodka Market by Ingredients
10.4.6.4.3Rest of Middle East and Africa Craft Vodka Market by Distribution Channel
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Craft Vodka Market Overview
10.5.2South and Central America Craft Vodka Market Forecasts and Analysis
10.5.3South and Central America Craft Vodka Market Forecasts and Analysis - By Type
10.5.4South and Central America Craft Vodka Market Forecasts and Analysis - By Ingredients
10.5.5South and Central America Craft Vodka Market Forecasts and Analysis - By Distribution Channel
10.5.6South and Central America Craft Vodka Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Craft Vodka Market
10.5.6.1.1Brazil Craft Vodka Market by Type
10.5.6.1.2Brazil Craft Vodka Market by Ingredients
10.5.6.1.3Brazil Craft Vodka Market by Distribution Channel
10.5.6.2Argentina Craft Vodka Market
10.5.6.2.1Argentina Craft Vodka Market by Type
10.5.6.2.2Argentina Craft Vodka Market by Ingredients
10.5.6.2.3Argentina Craft Vodka Market by Distribution Channel
10.5.6.3Rest of South and Central America Craft Vodka Market
10.5.6.3.1Rest of South and Central America Craft Vodka Market by Type
10.5.6.3.2Rest of South and Central America Craft Vodka Market by Ingredients
10.5.6.3.3Rest of South and Central America Craft Vodka 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.CRAFT VODKA MARKET, KEY COMPANY PROFILES
12.1.BAINBRIDGE ORGANIC DISTILLERS
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.BEAM SUNTORY INC.
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.CANDELLA MICRO-DISTILLERY
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.CHARBAY DISTILLERY
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.LONG ROAD DISTILLERS
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.SAZERAC COMPANY
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.ST. GEORGE SPIRITS
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.TOM'S TOWN DISTILLING CO.
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.WILLIAM GRANTS AND SONS LIMITED
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.WOODY CREEK DISTILLERS
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. Bainbridge Organic Distillers
2. Beam Suntory Inc.
3. Candella micro-distillery
4. Charbay Distillery
5. Long Road Distillers
6. Sazerac Company
7. St. George Spirits
8. Tom's Town Distilling Co.
9. William Grants and Sons Limited
10. Woody Creek Distillers
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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