Frozen Dessert Market Updates by 2031
The frozen dessert market is expected to register a CAGR of 7% during 2023 – 2031. The frozen dessert market is growing due to growing product innovations and strategic initiatives.
Frozen Dessert Market Analysis
- Frozen dessert manufacturers make significant investment in product innovations to cater its target customer base and meet growing consumer demands. Product innovations help the companies to widen their reach and gain an advantage over their competitors in international markets.
- Frozen desserts with health benefits are becoming more popular among consumers. In the past few years, consumers are willing to spend for frozen desserts claiming health benefits such as nutritional yogurt and the so-called dairy-free version that are rich in lipids, vitamins and other nutrients.
- There is a thriving trend is the frozen desserts market worldwide, ascribed to a number of factors such as changing consumer preferences, rising disposable income, and introduction of diverse range of frozen desserts.
Frozen Dessert Market Overview
- Frozen dessert is a dessert made from the freezing process of liquid, semi-solid and solid ingredients. It is prepared in numerous types, textures, consistencies and tastes, presenting many choices to consumers, that includes ice creams, frozen yoghurt, gelato, sorbets, custard, and dairy-free varieties.
- Factors such as increasing disposable income, change in consumer preference, novel product launches and surging demand for low-sugar and low-calorie desserts are fuelling the market for frozen desserts.
- The health and wellness concern has led to the creation of newer tastes and healthier varied desserts.
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Frozen Dessert 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.
Frozen Dessert 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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Frozen Dessert Market Drivers and Opportunities
Growing Marketing Strategies by Key Market Players to Favor the Market
The growth in the market for frozen desserts can be attributed to digital marketing and influencer promotions, which allow enterprises to expand their reach and improve consumer interaction and engagement. Targeted marketing and customer retention campaigns practitioners typically rely on digitalisation to promote their products and recommend personalised and suitable products for potential customers. Due to the impulsive nature of the purchase, consumers tend to buy frozen desserts often driven by their cravings and immediate wishes. Consumers often purchase frozen desserts through several retail outlets such as supermarkets, convenience stores, and online platforms.
Escalating Sales of Frozen Desserts through Online Platforms to Favor the Market
The emergence of e-commerce has resulted in considerable changes in the way people shop and purchase food products. Consumers prefer online retail platforms for purchasing frozen food. The online sales of food and beverages grew significantly during the COVID-19 outbreak due to the shutdown of convenience and grocery stores across the globe. According to American Frozen Food Institute, online sales of frozen food products increased by 75% in 2021. Thus, the rising sales of frozen dessert through e-commerce platforms is expected to create lucrative opportunities in the frozen dessert market.
Frozen Dessert Market Segmentation Analysis
Key segments that contributed to the derivation of the frozen dessert market analysis are product type, category, and distribution channel.
- Based on product type, the market is segmented into ice-cream, yogurt, cakes and muffins, and others.
- Based on category, the frozen dessert market is divided into sugar-free, and conventional.
- On the basis of distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, online retail, and others.
Frozen Dessert Market Share Analysis by Geography
- Frozen Dessert 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 frozen dessert 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 frozen dessert market in these regions.
Frozen Dessert Market Report Scope
Frozen Dessert Market News and Recent Developments
The frozen dessert 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 frozen dessert market are listed below:
- Unilever introduces 19 new frozen treats for 2022. (Source: Unilever/Press Release/Jan, 2022)
- Oatly introduces new frozen oatly on a stick. Oatly Group AB announced the introduction of its latest product innovation, Oatly non-dairy frozen dessert bars. (Source: Oatly/Press Release/Nov, 2021)
- CitraPac to launch frozen yogurt dessert line. CitraPac is adding a new line of frozen yogurt dessert products under its Nature’s Premium label. (Source: CitraPac/Press Release/April, 2024)
Frozen Dessert Market Report Coverage and Deliverables
The “Frozen Dessert Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Frozen Dessert market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Frozen Dessert market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces and SWOT analysis
- Frozen Dessert 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 frozen dessert 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.
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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.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Nestle SA, General Mills Inc, Tyson Foods Inc, Unilever, and Meiji Holdings Co Ltd, among others are the leading players operating in the frozen dessert market.
Increasing demand for sugar-free frozen dessert is anticipated to play a significant role in the frozen dessert market in the coming years.
The global frozen dessert market is estimated to grow at a CAGR of 7% during the forecast period 2023-2031.
Growing marketing strategies by key market players and growing demand for frozen food are driving factors impacting the frozen dessert market.
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 Frozen Dessert Market - By Type
1.3.2 Frozen Dessert Market - By Category
1.3.3 Frozen Dessert Market - By Distribution Channel
1.3.4 Frozen Dessert Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FROZEN DESSERT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. FROZEN DESSERT 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. FROZEN DESSERT MARKET - GLOBAL MARKET ANALYSIS
6.1. FROZEN DESSERT - GLOBAL MARKET OVERVIEW
6.2. FROZEN DESSERT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FROZEN DESSERT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CAKES
7.3.1. Overview
7.3.2. Cakes Market Forecast and Analysis
7.4. ICE-CREAM
7.4.1. Overview
7.4.2. Ice-Cream Market Forecast and Analysis
7.5. YOGURTS
7.5.1. Overview
7.5.2. Yogurts Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. FROZEN DESSERT MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
8.1. OVERVIEW
8.2. CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. SUGAR-FREE
8.3.1. Overview
8.3.2. Sugar-Free Market Forecast and Analysis
8.4. CONVENTIONAL
8.4.1. Overview
8.4.2. Conventional Market Forecast and Analysis
9. FROZEN DESSERT MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. HYPERMARKETS AND SUPERMARKETS
9.3.1. Overview
9.3.2. Hypermarkets and Supermarkets Market Forecast and Analysis
9.4. SPECIALTY STORES
9.4.1. Overview
9.4.2. Specialty Stores Market Forecast and Analysis
9.5. ONLINE STORES
9.5.1. Overview
9.5.2. Online Stores Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. FROZEN DESSERT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Frozen Dessert Market Overview
10.1.2 North America Frozen Dessert Market Forecasts and Analysis
10.1.3 North America Frozen Dessert Market Forecasts and Analysis - By Type
10.1.4 North America Frozen Dessert Market Forecasts and Analysis - By Category
10.1.5 North America Frozen Dessert Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Frozen Dessert Market Forecasts and Analysis - By Countries
10.1.6.1 United States Frozen Dessert Market
10.1.6.1.1 United States Frozen Dessert Market by Type
10.1.6.1.2 United States Frozen Dessert Market by Category
10.1.6.1.3 United States Frozen Dessert Market by Distribution Channel
10.1.6.2 Canada Frozen Dessert Market
10.1.6.2.1 Canada Frozen Dessert Market by Type
10.1.6.2.2 Canada Frozen Dessert Market by Category
10.1.6.2.3 Canada Frozen Dessert Market by Distribution Channel
10.1.6.3 Mexico Frozen Dessert Market
10.1.6.3.1 Mexico Frozen Dessert Market by Type
10.1.6.3.2 Mexico Frozen Dessert Market by Category
10.1.6.3.3 Mexico Frozen Dessert Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Frozen Dessert Market Overview
10.2.2 Europe Frozen Dessert Market Forecasts and Analysis
10.2.3 Europe Frozen Dessert Market Forecasts and Analysis - By Type
10.2.4 Europe Frozen Dessert Market Forecasts and Analysis - By Category
10.2.5 Europe Frozen Dessert Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Frozen Dessert Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Frozen Dessert Market
10.2.6.1.1 Germany Frozen Dessert Market by Type
10.2.6.1.2 Germany Frozen Dessert Market by Category
10.2.6.1.3 Germany Frozen Dessert Market by Distribution Channel
10.2.6.2 France Frozen Dessert Market
10.2.6.2.1 France Frozen Dessert Market by Type
10.2.6.2.2 France Frozen Dessert Market by Category
10.2.6.2.3 France Frozen Dessert Market by Distribution Channel
10.2.6.3 Italy Frozen Dessert Market
10.2.6.3.1 Italy Frozen Dessert Market by Type
10.2.6.3.2 Italy Frozen Dessert Market by Category
10.2.6.3.3 Italy Frozen Dessert Market by Distribution Channel
10.2.6.4 United Kingdom Frozen Dessert Market
10.2.6.4.1 United Kingdom Frozen Dessert Market by Type
10.2.6.4.2 United Kingdom Frozen Dessert Market by Category
10.2.6.4.3 United Kingdom Frozen Dessert Market by Distribution Channel
10.2.6.5 Russia Frozen Dessert Market
10.2.6.5.1 Russia Frozen Dessert Market by Type
10.2.6.5.2 Russia Frozen Dessert Market by Category
10.2.6.5.3 Russia Frozen Dessert Market by Distribution Channel
10.2.6.6 Rest of Europe Frozen Dessert Market
10.2.6.6.1 Rest of Europe Frozen Dessert Market by Type
10.2.6.6.2 Rest of Europe Frozen Dessert Market by Category
10.2.6.6.3 Rest of Europe Frozen Dessert Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Frozen Dessert Market Overview
10.3.2 Asia-Pacific Frozen Dessert Market Forecasts and Analysis
10.3.3 Asia-Pacific Frozen Dessert Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Frozen Dessert Market Forecasts and Analysis - By Category
10.3.5 Asia-Pacific Frozen Dessert Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Frozen Dessert Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Frozen Dessert Market
10.3.6.1.1 Australia Frozen Dessert Market by Type
10.3.6.1.2 Australia Frozen Dessert Market by Category
10.3.6.1.3 Australia Frozen Dessert Market by Distribution Channel
10.3.6.2 China Frozen Dessert Market
10.3.6.2.1 China Frozen Dessert Market by Type
10.3.6.2.2 China Frozen Dessert Market by Category
10.3.6.2.3 China Frozen Dessert Market by Distribution Channel
10.3.6.3 India Frozen Dessert Market
10.3.6.3.1 India Frozen Dessert Market by Type
10.3.6.3.2 India Frozen Dessert Market by Category
10.3.6.3.3 India Frozen Dessert Market by Distribution Channel
10.3.6.4 Japan Frozen Dessert Market
10.3.6.4.1 Japan Frozen Dessert Market by Type
10.3.6.4.2 Japan Frozen Dessert Market by Category
10.3.6.4.3 Japan Frozen Dessert Market by Distribution Channel
10.3.6.5 South Korea Frozen Dessert Market
10.3.6.5.1 South Korea Frozen Dessert Market by Type
10.3.6.5.2 South Korea Frozen Dessert Market by Category
10.3.6.5.3 South Korea Frozen Dessert Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Frozen Dessert Market
10.3.6.6.1 Rest of Asia-Pacific Frozen Dessert Market by Type
10.3.6.6.2 Rest of Asia-Pacific Frozen Dessert Market by Category
10.3.6.6.3 Rest of Asia-Pacific Frozen Dessert Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Frozen Dessert Market Overview
10.4.2 Middle East and Africa Frozen Dessert Market Forecasts and Analysis
10.4.3 Middle East and Africa Frozen Dessert Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Frozen Dessert Market Forecasts and Analysis - By Category
10.4.5 Middle East and Africa Frozen Dessert Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Frozen Dessert Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Frozen Dessert Market
10.4.6.1.1 South Africa Frozen Dessert Market by Type
10.4.6.1.2 South Africa Frozen Dessert Market by Category
10.4.6.1.3 South Africa Frozen Dessert Market by Distribution Channel
10.4.6.2 Saudi Arabia Frozen Dessert Market
10.4.6.2.1 Saudi Arabia Frozen Dessert Market by Type
10.4.6.2.2 Saudi Arabia Frozen Dessert Market by Category
10.4.6.2.3 Saudi Arabia Frozen Dessert Market by Distribution Channel
10.4.6.3 U.A.E Frozen Dessert Market
10.4.6.3.1 U.A.E Frozen Dessert Market by Type
10.4.6.3.2 U.A.E Frozen Dessert Market by Category
10.4.6.3.3 U.A.E Frozen Dessert Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Frozen Dessert Market
10.4.6.4.1 Rest of Middle East and Africa Frozen Dessert Market by Type
10.4.6.4.2 Rest of Middle East and Africa Frozen Dessert Market by Category
10.4.6.4.3 Rest of Middle East and Africa Frozen Dessert Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Frozen Dessert Market Overview
10.5.2 South and Central America Frozen Dessert Market Forecasts and Analysis
10.5.3 South and Central America Frozen Dessert Market Forecasts and Analysis - By Type
10.5.4 South and Central America Frozen Dessert Market Forecasts and Analysis - By Category
10.5.5 South and Central America Frozen Dessert Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Frozen Dessert Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Frozen Dessert Market
10.5.6.1.1 Brazil Frozen Dessert Market by Type
10.5.6.1.2 Brazil Frozen Dessert Market by Category
10.5.6.1.3 Brazil Frozen Dessert Market by Distribution Channel
10.5.6.2 Argentina Frozen Dessert Market
10.5.6.2.1 Argentina Frozen Dessert Market by Type
10.5.6.2.2 Argentina Frozen Dessert Market by Category
10.5.6.2.3 Argentina Frozen Dessert Market by Distribution Channel
10.5.6.3 Rest of South and Central America Frozen Dessert Market
10.5.6.3.1 Rest of South and Central America Frozen Dessert Market by Type
10.5.6.3.2 Rest of South and Central America Frozen Dessert Market by Category
10.5.6.3.3 Rest of South and Central America Frozen Dessert 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. FROZEN DESSERT MARKET, KEY COMPANY PROFILES
12.1. BASKIN ROBBINS LLC
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. BASSETTS ICE CREAM
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. CONAGRA BRANDS, INC.
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. DANONE S.A.
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. FONTERRA GROUP
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. GENERAL MILLS, INC.
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. KELLOGG COMPANY
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. LONDON DAIRY CO. LTD.
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. NESTLé S.A.
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. VAN'S INTERNATIONAL FOODS, INC.
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. Baskin Robbins LLC
2. Bassetts Ice Cream
3. Conagra Brands, Inc.
4. Danone S.A.
5. Fonterra Group
6. General Mills, Inc.
7. Kellogg Company
8. London Dairy Co. Ltd.
9. Nestlé S.A.
10. Van's International Foods, Inc.
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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