Fruit Concentrate Market SWOT Analysis by 2031
The fruit concentrate market is expected to register a CAGR of 4% during 2023–2031. The increasing demand for natural food products is likely to remain a key trend in the market.
Fruit Concentrate Market Analysis:
- The majority of customers in industrialized nations have developed a sense of regularity due to the popularity of confectionery consumption, whether it is as a treat, with a meal, or as a meal substitute.
- The rise in consumption of confectionery products propels the market of fruit concentrate with its efficient properties as an additive and flavoring agent in the food processing industry.
- There has been a shift in the patterns of confectionery consumption the rising health consciousness regarding the effects of sugar intake combined with expensive research and development costs for low-sugar products made with natural or low-intensity sweeteners have had a detrimental effect on the dynamics of the fruit concentrate market and confectionery product market as a whole opening door of opportunity for product innovation where the manufacturer has the opportunity to cater the same sweet palatability of the product with a guilt-free option.
Fruit Concentrate Market Overview
- Fruit concentrates are derived from fruits by exposing them to high temperatures to get rid of the water portion from the fruit, leaving behind fruit pulp with all the goodness of the fruit as fruit concentrate to prepare fruit juices and sorbets.
- This process of removing the water portion from the fruit reduces the bulk of the concentrate, which makes it less expensive for storage, warehousing, shipping, and transportation.
- In the food and beverage industries, fruit concentrates are used as natural flavoring in different applications, and fruit juices are prepared with fruit concentrates by reconstituting them with water.
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Fruit Concentrate 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.
Fruit Concentrate 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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Fruit Concentrate Market Drivers and Opportunities
Increasing Awareness Regarding Health
- Heavy demand from the health and wellness segments is a key factor fueling the fruit concentrate market. In recent years, there has been an increased focus on health and wellness
- Consumers are now more aware of the harmful effects of refined sugars and artificial sweeteners and prefer natural and healthful alternatives to artificial beverages.
- Fruit concentrates come from the entire fruit; processing renders fruit in the form of juice or puree without any additives or chemicals and is quickly applied to food or beverages. As awareness mounts, consumers have shifted their preferences towards healthier products.
- The food industry, in turn, is ramping up its use of fruit ingredients in various applications, from functional beverages to bakery and confectionery.
- Consequently, manufacturers are increasingly developing innovative products that assure patrons of their natural origin and healthful nutrients.
- The primary reason for this shift is an increased emphasis on preventive healthcare, with consumers trying to source refined sugar alternatives. This trend is projected to continue as mass awareness increases.
Advantages of Fruit Concentrate
- Fruit concentrates offer many advantages for consumers and open avenues for innovation in the market.
- Stripping a food of its water contents, a big part of whole fruit, yields a more shelf-stable, condensed product than fresh fruit that is easier and less expensive to transport and requires less storage.
- Concentrates also streamline food manufacturing processes by allowing manufacturers to add the same concentrate to a variety of products.
- Fruit concentrates make seasonal fruits available year-round, enabling constant supply and stable pricing. They also offer the benefit of greater flavor intensity and the inherent nutritional density that comes from the fruit itself. This has obvious appeal to health-conscious consumers who want a convenient way to increase their daily fruit intake.
- Consumers and food manufacturers alike are putting more emphasis on natural ingredients that don’t require a laundry list of claims on product labels.
- Natural additives are pushing out artificial ones as a result. As the food and beverage industry shifts from its ultra-processed past to a clean-label future, fruit concentrates stand to gain favor because they are natural and versatile.
Fruit Concentrate Market Report Segmentation Analysis
The scope of the global fruit concentrate market is segmented on the basis of fruit type, product form, and application.
- Based on fruit type, the fruit concentrate market is segmented into tropical fruits, citrus fruits, red fruits and berries, and others.
- On the product form, the market is bifurcated into liquid and powder.
- Based on application, the market is categorized into beverage, bakery, confectionery, dairy, and others.
Fruit Concentrate Market Share Analysis by Geography
- Fruit Concentrate 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 fruit concentrate 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 fruit concentrate market in these regions.
Fruit Concentrate Market Report Scope
Fruit Concentrate Market News and Recent Developments:
The fruit concentrate market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- Chiangmai Bioveggie, a Thai firm known for its vegetable tablet supplements and health teas, invested in Manee Manao's lime juice exports. The company has established stable networks in markets like Japan, Hong Kong, Australia, and New Caledonia and has also branched out to produce watermelon puree, Manee Tangmo, which is all-natural and free from sugar or additives. (Source: Manee Manao's, Newsletter, Jan 2024)
- Oregon Fruit Products LLC introduced its new limited line of Oregon Fruit Aseptic Concentrates, real fruit concentrates that are aseptically processed, clean label, and meet Oregon Fruit's rigorous quality standards. These concentrates meet the evolving industry's demand for innovation, inspiring new product formats and recipes. Offering a small portfolio to start, including mango, grapefruit, and lemon, Oregon Fruit Aseptic Concentrates are ideal for popular fruited ciders, the ready-to-drink category (RTDs), and beers. (Source: Oregon Fruit Products LLC, Newsletter, Sept 2023)
Fruit Concentrate Market Report Coverage and Deliverables
The “Fruit Concentrate Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Fruit concentrate market size and forecast at global, regional and country levels for all the key market segments covered under the scope
- Fruit concentrate market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Fruit concentrate 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 fruit concentrate 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 fruit concentrate market is estimated to grow above 4% during the forecast period 2024-2031.
Increasing awareness regarding health is one of the major factors driving the fruit concentrate market.
The increasing demand for natural food products is likely to remain a key trend in the market.
The leading players operating in the fruit concentrate market are Ingredion Inc, Kerry Inc, SunOpta, Archer Daniels Midland Co, Döhler GmbH, Manee Manao's, Oregon Fruit Products LLC, Symrise AG, Firmenich SA, and Invertec Foods.
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
1.3.1 Fruit Concentrate Market - By Fruit
1.3.2 Fruit Concentrate Market - By Application
1.3.3 Fruit Concentrate Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FRUIT CONCENTRATE 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. FRUIT CONCENTRATE 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. FRUIT CONCENTRATE MARKET - GLOBAL MARKET ANALYSIS
6.1. FRUIT CONCENTRATE - GLOBAL MARKET OVERVIEW
6.2. FRUIT CONCENTRATE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FRUIT CONCENTRATE MARKET - REVENUE AND FORECASTS TO 2028 - FRUIT
7.1. OVERVIEW
7.2. FRUIT MARKET FORECASTS AND ANALYSIS
7.3. APPLE
7.3.1. Overview
7.3.2. Apple Market Forecast and Analysis
7.4. ORANGE
7.4.1. Overview
7.4.2. Orange Market Forecast and Analysis
7.5. LEMON
7.5.1. Overview
7.5.2. Lemon Market Forecast and Analysis
7.6. PINEAPPLE
7.6.1. Overview
7.6.2. Pineapple Market Forecast and Analysis
7.7. GRAPES
7.7.1. Overview
7.7.2. Grapes Market Forecast and Analysis
7.8. PEAR
7.8.1. Overview
7.8.2. Pear Market Forecast and Analysis
7.9. SPECIALTY FRUITS
7.9.1. Overview
7.9.2. Specialty Fruits Market Forecast and Analysis
7.10. OTHERS
7.10.1. Overview
7.10.2. Others Market Forecast and Analysis
8. FRUIT CONCENTRATE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BEVERAGE
8.3.1. Overview
8.3.2. Beverage Market Forecast and Analysis
8.4. CONFECTIONERY
8.4.1. Overview
8.4.2. Confectionery Market Forecast and Analysis
8.5. BAKERY
8.5.1. Overview
8.5.2. Bakery Market Forecast and Analysis
8.6. DAIRY
8.6.1. Overview
8.6.2. Dairy Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. FRUIT CONCENTRATE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Fruit Concentrate Market Overview
9.1.2 North America Fruit Concentrate Market Forecasts and Analysis
9.1.3 North America Fruit Concentrate Market Forecasts and Analysis - By Fruit
9.1.4 North America Fruit Concentrate Market Forecasts and Analysis - By Application
9.1.5 North America Fruit Concentrate Market Forecasts and Analysis - By Countries
9.1.5.1 United States Fruit Concentrate Market
9.1.5.1.1 United States Fruit Concentrate Market by Fruit
9.1.5.1.2 United States Fruit Concentrate Market by Application
9.1.5.2 Canada Fruit Concentrate Market
9.1.5.2.1 Canada Fruit Concentrate Market by Fruit
9.1.5.2.2 Canada Fruit Concentrate Market by Application
9.1.5.3 Mexico Fruit Concentrate Market
9.1.5.3.1 Mexico Fruit Concentrate Market by Fruit
9.1.5.3.2 Mexico Fruit Concentrate Market by Application
9.2. EUROPE
9.2.1 Europe Fruit Concentrate Market Overview
9.2.2 Europe Fruit Concentrate Market Forecasts and Analysis
9.2.3 Europe Fruit Concentrate Market Forecasts and Analysis - By Fruit
9.2.4 Europe Fruit Concentrate Market Forecasts and Analysis - By Application
9.2.5 Europe Fruit Concentrate Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Fruit Concentrate Market
9.2.5.1.1 Germany Fruit Concentrate Market by Fruit
9.2.5.1.2 Germany Fruit Concentrate Market by Application
9.2.5.2 France Fruit Concentrate Market
9.2.5.2.1 France Fruit Concentrate Market by Fruit
9.2.5.2.2 France Fruit Concentrate Market by Application
9.2.5.3 Italy Fruit Concentrate Market
9.2.5.3.1 Italy Fruit Concentrate Market by Fruit
9.2.5.3.2 Italy Fruit Concentrate Market by Application
9.2.5.4 United Kingdom Fruit Concentrate Market
9.2.5.4.1 United Kingdom Fruit Concentrate Market by Fruit
9.2.5.4.2 United Kingdom Fruit Concentrate Market by Application
9.2.5.5 Russia Fruit Concentrate Market
9.2.5.5.1 Russia Fruit Concentrate Market by Fruit
9.2.5.5.2 Russia Fruit Concentrate Market by Application
9.2.5.6 Rest of Europe Fruit Concentrate Market
9.2.5.6.1 Rest of Europe Fruit Concentrate Market by Fruit
9.2.5.6.2 Rest of Europe Fruit Concentrate Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Fruit Concentrate Market Overview
9.3.2 Asia-Pacific Fruit Concentrate Market Forecasts and Analysis
9.3.3 Asia-Pacific Fruit Concentrate Market Forecasts and Analysis - By Fruit
9.3.4 Asia-Pacific Fruit Concentrate Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Fruit Concentrate Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Fruit Concentrate Market
9.3.5.1.1 Australia Fruit Concentrate Market by Fruit
9.3.5.1.2 Australia Fruit Concentrate Market by Application
9.3.5.2 China Fruit Concentrate Market
9.3.5.2.1 China Fruit Concentrate Market by Fruit
9.3.5.2.2 China Fruit Concentrate Market by Application
9.3.5.3 India Fruit Concentrate Market
9.3.5.3.1 India Fruit Concentrate Market by Fruit
9.3.5.3.2 India Fruit Concentrate Market by Application
9.3.5.4 Japan Fruit Concentrate Market
9.3.5.4.1 Japan Fruit Concentrate Market by Fruit
9.3.5.4.2 Japan Fruit Concentrate Market by Application
9.3.5.5 South Korea Fruit Concentrate Market
9.3.5.5.1 South Korea Fruit Concentrate Market by Fruit
9.3.5.5.2 South Korea Fruit Concentrate Market by Application
9.3.5.6 Rest of Asia-Pacific Fruit Concentrate Market
9.3.5.6.1 Rest of Asia-Pacific Fruit Concentrate Market by Fruit
9.3.5.6.2 Rest of Asia-Pacific Fruit Concentrate Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Fruit Concentrate Market Overview
9.4.2 Middle East and Africa Fruit Concentrate Market Forecasts and Analysis
9.4.3 Middle East and Africa Fruit Concentrate Market Forecasts and Analysis - By Fruit
9.4.4 Middle East and Africa Fruit Concentrate Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Fruit Concentrate Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Fruit Concentrate Market
9.4.5.1.1 South Africa Fruit Concentrate Market by Fruit
9.4.5.1.2 South Africa Fruit Concentrate Market by Application
9.4.5.2 Saudi Arabia Fruit Concentrate Market
9.4.5.2.1 Saudi Arabia Fruit Concentrate Market by Fruit
9.4.5.2.2 Saudi Arabia Fruit Concentrate Market by Application
9.4.5.3 U.A.E Fruit Concentrate Market
9.4.5.3.1 U.A.E Fruit Concentrate Market by Fruit
9.4.5.3.2 U.A.E Fruit Concentrate Market by Application
9.4.5.4 Rest of Middle East and Africa Fruit Concentrate Market
9.4.5.4.1 Rest of Middle East and Africa Fruit Concentrate Market by Fruit
9.4.5.4.2 Rest of Middle East and Africa Fruit Concentrate Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Fruit Concentrate Market Overview
9.5.2 South and Central America Fruit Concentrate Market Forecasts and Analysis
9.5.3 South and Central America Fruit Concentrate Market Forecasts and Analysis - By Fruit
9.5.4 South and Central America Fruit Concentrate Market Forecasts and Analysis - By Application
9.5.5 South and Central America Fruit Concentrate Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Fruit Concentrate Market
9.5.5.1.1 Brazil Fruit Concentrate Market by Fruit
9.5.5.1.2 Brazil Fruit Concentrate Market by Application
9.5.5.2 Argentina Fruit Concentrate Market
9.5.5.2.1 Argentina Fruit Concentrate Market by Fruit
9.5.5.2.2 Argentina Fruit Concentrate Market by Application
9.5.5.3 Rest of South and Central America Fruit Concentrate Market
9.5.5.3.1 Rest of South and Central America Fruit Concentrate Market by Fruit
9.5.5.3.2 Rest of South and Central America Fruit Concentrate Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FRUIT CONCENTRATE MARKET, KEY COMPANY PROFILES
11.1. AGRANA BETEILIGUNGS AG
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CHINA HAISHENG JUICE HOLDINGS CO., LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DöHLER GROUP
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. KERR CONCENTRATES, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KERRY GROUP PLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LEMON CONCENTRATE, S.L.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ROYAL COSUN
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. RUDOLF WILD GMBH & CO. KG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SKYPEOPLE FRUIT JUICE, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SUNOPTA INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Agrana Beteiligungs Ag
2. China Haisheng Juice Holdings Co., Ltd.
3. Döhler Group
4. Kerr Concentrates, Inc.
5. Kerry Group Plc
6. Lemon Concentrate, S.L.
7. Royal Cosun
8. Rudolf Wild Gmbh & Co. Kg
9. Skypeople Fruit Juice, Inc.
10. Sunopta 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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