Frozen Yogurt Market SWOT Analysis by 2031
The frozen yogurt market is expected to register a CAGR of 5% during 2023–2031. A growing trend towards plant-based and dairy-free frozen yogurt alternatives to cater to lactose-intolerant consumers and those following vegan diets is likely to remain a key trend in the market.
Frozen Yogurt Market Analysis
- The frozen yogurt market will trend towards change and growth as a result of changing consumer tastes, innovation, and favorable market dynamics. Increasing global health consciousness is expected to provide more opportunities for frozen yogurt as it is viewed as a healthy alternative to ordinary ice cream.
- Alternative ice-creams (made from plant-based products without dairy) are expected to experience rapid growth in the next few years. Along with the changes in dietary habits among people, varieties of food products such as frozen yogurts will have greater demand as more people enter the flexitarian, vegetarian, or vegan diets. This brings challenges and opportunities for conventional frozen yogurt makers to expand their product lines to address the ice-cream markets made from plant-based products (including almond, coconut, soy, or oat milk).
- Flavor innovation will also continue as a market dynamic in the face of consumer trends. People are becoming more and more adventurous in their flavor interests and are looking for the boldest, most exotic combinations out there. Industry developers can – and will – try to stay ahead of their customers with this by mixing international flavors and superfood ingredients with each other and with unlikely 'fusion' pairings to deliver a new experience to the consumer.
Frozen Yogurt Market Overview
- The frozen yogurt market is a fragment of the frozen dessert market and seems, with its sheer marketability and health advantages. However, it's a market that's changed and will continue to change with the shifting winds of consumer preferences for creamier, lactose-free options on the one hand and clean-eating, gluten-free choices on the other.
- Frozen yogurt tends to have an appealing combination of indulgence and health benefits. It is loaded with active bacteria called probiotic cultures that are lauded for their effects on digestive health and immune function. This has made it a principal reference point for health-conscious consumers looking for indulgent treats that enable them to satisfy their desires.
- The consumption of frozen yogurt outside dedicated outlets had increased, rendering it more probable that this product would become a part of mass culture and reach a wider segment of consumers.
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Frozen Yogurt Market: Strategic Insights
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Frozen Yogurt Market Drivers and Opportunities
Increasing Demand for Healthy Food Among Young Consumers Drives Frozen Yogurts Market
- Nutritious food is becoming more popular among millennials and Gen Z consumers as some among these generations are more health conscious and pay closer attention to their diet than older generations. Young are more willing to choose food that matches their taste for sweet snacks, at the same time, is effective for their health purpose. Frozen yogurt is a healthier choice than other sweet snacks since it is less fat and contains more probiotics, which are beneficial for gut health.
- The self-service that many frozen yogurts depend on empowers consumers to decide on portion sizes as well as on the healthfulness of the flavor offerings and/or toppings. It also fills a greater need for more customized nutrition or functional foods, with many brands promoting frozen yogurt as not just straight nutrition but enhanced – be it with added vitamins, minerals, or protein.
- As health and wellness have become a central topic of young people over the past decade, their demand for healthy food and beverages, including healthy desserts such as frozen yogurt, has been increasing. It is likely to continue driving market growth in the next couple of years.
Expanding Non-Dairy Frozen Yogurt Options Using Almond, Coconut, or Oat Milk Bases
- The market study predicts that the non-dairy frozen yogurt – made with almond, coconut, and oat milk – 'offers immense growth prospects to the frozen yogurt market … fuelled by the rising consumer affinity to plant-based alternatives on account of lactose intolerance, dairy allergies, animal welfare, and environmentalism'.
- Various plant-based diets have skyrocketed in the past few years, and many consumers are trying to eat less dairy. Leading the charge for these emerging consumers is the desire to seek out ice cream alternatives made with non-dairy bases such as almond, coconut, or oat milk.
- Various types of plant milk each bring along a unique sensory experience and nutrient profile. Frozen products made with almond milk can be nutty and often lower-calorie. Coconut milk-based products are thick and creamy, as well as deliciously tropical. Mild, sustainable oat milk approximates the texture of traditional fromage fouaté if used in frozen yogurt ice cream. Brands can now differentiate and release multiple varieties of plant-milk-based frozen yogurt for varying taste preferences.
Frozen Yogurt Market Report Segmentation Analysis
Key segments that contributed to the derivation of the frozen yogurt market analysis are product type, flavor, category, and distribution channel.
- Based on product type, the market is divided into dairy-based and dairy-free.
- On the basis of flavor, the market is segmented into plain and flavored
- In terms of category, the market is bifurcated into sugar-free and conventional.
- On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.
Frozen Yogurt Market Share Analysis by Geography
- Frozen Yogurt 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 frozen yogurt market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter's analysis, which involves the study of major factors that influence the frozen yogurt market in these regions.
Frozen Yogurt Market Report Scope
Frozen Yogurt Market News and Recent Development
The frozen yogurt market is evaluated by gathering the qualitative and quantitative data post primary and secondary research, which include important corporate publication, association data, and database. The few developments in the frozen yogurt market are listed below:
- Sweetkiwi, a leading innovator in health-conscious frozen treats, is thrilled to announce a magical collaboration with The Smurfs. This collaboration brings to life a whimsical product line inspired by the beloved blue characters. This enchanting new range features Frozen Greek Yogurt Bars, with plans to introduce convenient 3.6oz Single-Serve Cups with a spoon and Variety Packs designed for retailers and warehouse clubs, all infused with the playful spirit of The Smurfs. (Sweetkiwi Holdings, Inc., News, June 2024)
- CitraPac is adding a new line of frozen yogurt dessert products under its Nature's Premium label. The company's Dessert Pearls feature a yogurt pearl base mixed with various texture and flavor ingredients, such as shortbread cookie crumbles in its cookies and cream flavor or strawberries in its strawberry cheesecake flavor. (CitraPac, News, April 2024)
Frozen Yogurt Market Report Coverage and Deliverables
The " Frozen Yogurt Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Frozen yogurt market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Frozen yogurt market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Frozen yogurt 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 yogurt 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 frozen yogurt market is expected to grow at a CAGR of 5% during the forecast period 2023 - 2031.
The increasing demand for healthy food among young consumers is one of the major factors driving the frozen yogurt market.
A growing trend towards plant-based and dairy-free frozen yogurt alternatives to cater to lactose-intolerant consumers and those following vegan diets is anticipated to play a significant role in the global frozen yogurt market in the coming years.
The leading players operating in the frozen yogurt market are Yogen Früz; Pinkberry; Red Mango; Menchie's; The Country's Best Yogurt; Yogurtland; Tutti Frutti; sweetFrog; Orange Leaf Frozen Yogurt; 16 Handles; Honey Hill Farms; Ben and Jerry's; Häagen-Dazs; Danone SA; and Nestlé.
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 Frozen Yogurt Market - By Type
1.3.2 Frozen Yogurt Market - By Functionality
1.3.3 Frozen Yogurt Market - By Distribution Channel
1.3.4 Frozen Yogurt Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FROZEN YOGURT 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. FROZEN YOGURT 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 YOGURT MARKET - GLOBAL MARKET ANALYSIS
6.1. FROZEN YOGURT - GLOBAL MARKET OVERVIEW
6.2. FROZEN YOGURT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. FROZEN YOGURT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PLAIN
7.3.1. Overview
7.3.2. Plain Market Forecast and Analysis
7.4. FLAVORED
7.4.1. Overview
7.4.2. Flavored Market Forecast and Analysis
8. FROZEN YOGURT MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTIONALITY
8.1. OVERVIEW
8.2. FUNCTIONALITY MARKET FORECASTS AND ANALYSIS
8.3. LACTOSE-FREE
8.3.1. Overview
8.3.2. Lactose-Free Market Forecast and Analysis
8.4. LOW-CALORIE
8.4.1. Overview
8.4.2. Low-Calorie Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. FROZEN YOGURT MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. SUPERMARKETS AND HYPERMARKETS
9.3.1. Overview
9.3.2. Supermarkets and hypermarkets Market Forecast and Analysis
9.4. ONLINE STORES
9.4.1. Overview
9.4.2. Online Stores Market Forecast and Analysis
9.5. GROCERY STORES
9.5.1. Overview
9.5.2. Grocery Stores Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. FROZEN YOGURT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Frozen Yogurt Market Overview
10.1.2 North America Frozen Yogurt Market Forecasts and Analysis
10.1.3 North America Frozen Yogurt Market Forecasts and Analysis - By Type
10.1.4 North America Frozen Yogurt Market Forecasts and Analysis - By Functionality
10.1.5 North America Frozen Yogurt Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Frozen Yogurt Market Forecasts and Analysis - By Countries
10.1.6.1 United States Frozen Yogurt Market
10.1.6.1.1 United States Frozen Yogurt Market by Type
10.1.6.1.2 United States Frozen Yogurt Market by Functionality
10.1.6.1.3 United States Frozen Yogurt Market by Distribution Channel
10.1.6.2 Canada Frozen Yogurt Market
10.1.6.2.1 Canada Frozen Yogurt Market by Type
10.1.6.2.2 Canada Frozen Yogurt Market by Functionality
10.1.6.2.3 Canada Frozen Yogurt Market by Distribution Channel
10.1.6.3 Mexico Frozen Yogurt Market
10.1.6.3.1 Mexico Frozen Yogurt Market by Type
10.1.6.3.2 Mexico Frozen Yogurt Market by Functionality
10.1.6.3.3 Mexico Frozen Yogurt Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Frozen Yogurt Market Overview
10.2.2 Europe Frozen Yogurt Market Forecasts and Analysis
10.2.3 Europe Frozen Yogurt Market Forecasts and Analysis - By Type
10.2.4 Europe Frozen Yogurt Market Forecasts and Analysis - By Functionality
10.2.5 Europe Frozen Yogurt Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Frozen Yogurt Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Frozen Yogurt Market
10.2.6.1.1 Germany Frozen Yogurt Market by Type
10.2.6.1.2 Germany Frozen Yogurt Market by Functionality
10.2.6.1.3 Germany Frozen Yogurt Market by Distribution Channel
10.2.6.2 France Frozen Yogurt Market
10.2.6.2.1 France Frozen Yogurt Market by Type
10.2.6.2.2 France Frozen Yogurt Market by Functionality
10.2.6.2.3 France Frozen Yogurt Market by Distribution Channel
10.2.6.3 Italy Frozen Yogurt Market
10.2.6.3.1 Italy Frozen Yogurt Market by Type
10.2.6.3.2 Italy Frozen Yogurt Market by Functionality
10.2.6.3.3 Italy Frozen Yogurt Market by Distribution Channel
10.2.6.4 United Kingdom Frozen Yogurt Market
10.2.6.4.1 United Kingdom Frozen Yogurt Market by Type
10.2.6.4.2 United Kingdom Frozen Yogurt Market by Functionality
10.2.6.4.3 United Kingdom Frozen Yogurt Market by Distribution Channel
10.2.6.5 Russia Frozen Yogurt Market
10.2.6.5.1 Russia Frozen Yogurt Market by Type
10.2.6.5.2 Russia Frozen Yogurt Market by Functionality
10.2.6.5.3 Russia Frozen Yogurt Market by Distribution Channel
10.2.6.6 Rest of Europe Frozen Yogurt Market
10.2.6.6.1 Rest of Europe Frozen Yogurt Market by Type
10.2.6.6.2 Rest of Europe Frozen Yogurt Market by Functionality
10.2.6.6.3 Rest of Europe Frozen Yogurt Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Frozen Yogurt Market Overview
10.3.2 Asia-Pacific Frozen Yogurt Market Forecasts and Analysis
10.3.3 Asia-Pacific Frozen Yogurt Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Frozen Yogurt Market Forecasts and Analysis - By Functionality
10.3.5 Asia-Pacific Frozen Yogurt Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Frozen Yogurt Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Frozen Yogurt Market
10.3.6.1.1 Australia Frozen Yogurt Market by Type
10.3.6.1.2 Australia Frozen Yogurt Market by Functionality
10.3.6.1.3 Australia Frozen Yogurt Market by Distribution Channel
10.3.6.2 China Frozen Yogurt Market
10.3.6.2.1 China Frozen Yogurt Market by Type
10.3.6.2.2 China Frozen Yogurt Market by Functionality
10.3.6.2.3 China Frozen Yogurt Market by Distribution Channel
10.3.6.3 India Frozen Yogurt Market
10.3.6.3.1 India Frozen Yogurt Market by Type
10.3.6.3.2 India Frozen Yogurt Market by Functionality
10.3.6.3.3 India Frozen Yogurt Market by Distribution Channel
10.3.6.4 Japan Frozen Yogurt Market
10.3.6.4.1 Japan Frozen Yogurt Market by Type
10.3.6.4.2 Japan Frozen Yogurt Market by Functionality
10.3.6.4.3 Japan Frozen Yogurt Market by Distribution Channel
10.3.6.5 South Korea Frozen Yogurt Market
10.3.6.5.1 South Korea Frozen Yogurt Market by Type
10.3.6.5.2 South Korea Frozen Yogurt Market by Functionality
10.3.6.5.3 South Korea Frozen Yogurt Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Frozen Yogurt Market
10.3.6.6.1 Rest of Asia-Pacific Frozen Yogurt Market by Type
10.3.6.6.2 Rest of Asia-Pacific Frozen Yogurt Market by Functionality
10.3.6.6.3 Rest of Asia-Pacific Frozen Yogurt Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Frozen Yogurt Market Overview
10.4.2 Middle East and Africa Frozen Yogurt Market Forecasts and Analysis
10.4.3 Middle East and Africa Frozen Yogurt Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Frozen Yogurt Market Forecasts and Analysis - By Functionality
10.4.5 Middle East and Africa Frozen Yogurt Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Frozen Yogurt Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Frozen Yogurt Market
10.4.6.1.1 South Africa Frozen Yogurt Market by Type
10.4.6.1.2 South Africa Frozen Yogurt Market by Functionality
10.4.6.1.3 South Africa Frozen Yogurt Market by Distribution Channel
10.4.6.2 Saudi Arabia Frozen Yogurt Market
10.4.6.2.1 Saudi Arabia Frozen Yogurt Market by Type
10.4.6.2.2 Saudi Arabia Frozen Yogurt Market by Functionality
10.4.6.2.3 Saudi Arabia Frozen Yogurt Market by Distribution Channel
10.4.6.3 U.A.E Frozen Yogurt Market
10.4.6.3.1 U.A.E Frozen Yogurt Market by Type
10.4.6.3.2 U.A.E Frozen Yogurt Market by Functionality
10.4.6.3.3 U.A.E Frozen Yogurt Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Frozen Yogurt Market
10.4.6.4.1 Rest of Middle East and Africa Frozen Yogurt Market by Type
10.4.6.4.2 Rest of Middle East and Africa Frozen Yogurt Market by Functionality
10.4.6.4.3 Rest of Middle East and Africa Frozen Yogurt Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Frozen Yogurt Market Overview
10.5.2 South and Central America Frozen Yogurt Market Forecasts and Analysis
10.5.3 South and Central America Frozen Yogurt Market Forecasts and Analysis - By Type
10.5.4 South and Central America Frozen Yogurt Market Forecasts and Analysis - By Functionality
10.5.5 South and Central America Frozen Yogurt Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Frozen Yogurt Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Frozen Yogurt Market
10.5.6.1.1 Brazil Frozen Yogurt Market by Type
10.5.6.1.2 Brazil Frozen Yogurt Market by Functionality
10.5.6.1.3 Brazil Frozen Yogurt Market by Distribution Channel
10.5.6.2 Argentina Frozen Yogurt Market
10.5.6.2.1 Argentina Frozen Yogurt Market by Type
10.5.6.2.2 Argentina Frozen Yogurt Market by Functionality
10.5.6.2.3 Argentina Frozen Yogurt Market by Distribution Channel
10.5.6.3 Rest of South and Central America Frozen Yogurt Market
10.5.6.3.1 Rest of South and Central America Frozen Yogurt Market by Type
10.5.6.3.2 Rest of South and Central America Frozen Yogurt Market by Functionality
10.5.6.3.3 Rest of South and Central America Frozen Yogurt 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 YOGURT MARKET, KEY COMPANY PROFILES
12.1. DANONE
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. FROSTY BOY
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. GENERAL MILLS 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. HONEY HILL FARMS
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. KEMPS LLC
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. NESTLE SA
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. RED MANGO, LLC
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. SCOTT BROTHERS DAIRY
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. UNILEVER
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. WELLS ENTERPRISES
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. Danone
2. Frosty Boy
3. General Mills Inc.
4. Honey Hill Farms
5. Kemps LLC
6. Nestle SA
7. Red Mango, LLC
8. Scott Brothers Dairy
9. Unilever
10. Wells Enterprises
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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