Olive Oil Market Drivers and Opportunities [2021-2031]
The olive oil market is expected to register a CAGR of 5% during 2023–2031. The increasing incorporation of nutrient-rich oils in diets to reduce the risk of certain health conditions is likely to remain a key trend in the market.
Olive Oil Market Analysis:
- The market is witnessing strong growth primarily owing to the rising demand for olive fruit oil in food service as well as the retail sector.
- Moreover, the demand for exotic cuisines is also anticipated to drive the popularity of Olea European fruit oil in several parts of the world.
- Olea European fruit oil is essential to a Mediterranean diet due to its several health benefits. The awareness about these health benefits, which are attributed to its omega-3 fatty acid content, is expected to surge its demand in the years to come.
- The demand for this oil is also rising owing to its utilization as an ingredient in manufacturing dietary supplements and pharmaceuticals.
Olive Oil Market Overview
- Olive oil is obtained from olive fruit and is available as virgin olive oil, extra virgin olive oil, light olive oil, olive pomace oil, and refined olive oil.
- Extra virgin olive oil is used for food, body care, and other products. It is a multipurpose liquid, and, hence, it is used by the majority of the population worldwide.
- This oil is used in cooking food, baked products, and in salad dressing. Also, extra virgin olive oil is rich in antioxidants and monounsaturated fats, and hence, this oil has a light flavor.
- People who are health conscious prefer cooking in olive oil due to its health advantages. Extra virginity is healthy for the human heart and helps in obesity management.
- The extra virgin olive oil market plays a major role in skin care as this oil moisturizes and heals the skin.
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Olive Oil 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.
Olive Oil 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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Olive Oil Market Drivers and Opportunities
Increasing Awareness of the Product's Health Benefits
- Consumer awareness of the health benefits of olive oil is an important driver for the market Increased consumer awareness of the health benefits of olive oil has become an important driver for the market.
- With consumers becoming more health-conscious and looking for healthy alternatives, the demand for olive oil has shot up as it is known to be rich in monounsaturated fats and antioxidants and has anti-inflammatory properties, which in turn are directly linked to reduced risks of heart disease and other serious illnesses such as stroke and certain cancers, as well as the dreaded Alzheimer’s.
- Research in this area, now positive and widespread in the medical field, has converted olive oil into a super-food in the minds of consumers.
- These benefits and the halo effect of the Mediterranean diet, which has been sufficiently hyped as being good for you and which includes olive oil as an important staple, have, in turn, encouraged manufacturers and marketers to highlight the health benefits of olive oil in their marketing initiatives. This has resulted in increased demand and sales across all consumer segments.
Increased Demand for Industrial Applications
- The growing need for industrial uses is also a big opportunity for the olive oil market.
- As global manufacturers and consumers search for natural, healthier alternatives to synthetic ingredients, olive oil is being used more widely in various industries.
- In cosmetics, it is valued for its moisturizing and antioxidant qualities and is thus used in creams and lotions for the skin and hair.
- In the pharmaceutical sector, olive oil is used to formulate drugs as a carrier and manufacture supplements. In industry, its lubricating properties mean that it is a more environmentally friendly option for some processes.
- This diversification of use expands the market for the producers of olive oil, helps stabilize demand, and potentially increases the profit margin for producers in the non-food segments.
Olive Oil Market Report Segmentation Analysis
The scope of the global olive oil market is segmented on the basis of packaging type, category, and distribution channel.
- Based on packaging type, the olive oil market is segmented into bottles, cans, and others.
- On the basis of category, the market is bifurcated into organic and conventional.
- Based on distribution channel, the market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others.
Olive Oil Market Share Analysis by Geography
- Olive Oil Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering olive oil market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the olive oil market in these regions.
Olive Oil Market Report Scope
Olive Oil Market News and Recent Developments:
The olive oil 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:
- GOOD PLANeT Foods, known for its Olive Oil Cheese, expanded its product line with Cheese Slices in Sharp Cheddar and Smoked Gouda flavors, offering dairy-free options with exceptional taste, meltability, and heart health benefits due to their use of olive oil. (Source: GOOD PLANeT Foods, Press Release, March 2024)
- Neolea, a Mediterranean producer, introduced its extra virgin olive oil in sustainable aluminum can packaging, featuring a reusable 'Fresh Cap' to ensure the oil's integrity, freshness, and flavor. (Source: Neolea, Newsletter, May 2024)
Olive Oil Market Report Coverage and Deliverables
The “Olive Oil Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Olive oil market size and forecast at global, regional and country levels for all the key market segments covered under the scope
- Olive oil market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Olive oil market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the olive oil market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global olive oil market is estimated to grow above 4% during the forecast period 2024-2031.
Increasing awareness of the product's health benefits is one of the major factors driving the olive oil market.
The increasing incorporation of nutrient-rich oils in diets to reduce the risk of certain health conditions is likely to remain a key trend in the market.
The leading players operating in the olive oil market are Avril SCA, Borges International Group SLU, Botticelli Foods, Del Monte Foods Inc, California Olive Ranch, Cargill Inc, Deoleo SA, Bunge Ltd, Neolea, and Olivier Pacific Ltd.
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 Olive Oil Market - By Type
1.3.2 Olive Oil Market - By Category
1.3.3 Olive Oil Market - By Distribution Channel
1.3.4 Olive Oil Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OLIVE OIL 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. OLIVE OIL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. OLIVE OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. OLIVE OIL - GLOBAL MARKET OVERVIEW
6.2. OLIVE OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OLIVE OIL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. VIRGIN OLIVE OIL
7.3.1. Overview
7.3.2. Virgin Olive Oil Market Forecast and Analysis
7.4. EXTRA VIRGIN OLIVE OIL
7.4.1. Overview
7.4.2. Extra Virgin Olive Oil Market Forecast and Analysis
7.5. REFINED OLIVE OIL
7.5.1. Overview
7.5.2. Refined Olive Oil Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. OLIVE OIL MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
8.1. OVERVIEW
8.2. CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. ORGANIC
8.3.1. Overview
8.3.2. Organic Market Forecast and Analysis
8.4. CONVENTIONAL
8.4.1. Overview
8.4.2. Conventional Market Forecast and Analysis
9. OLIVE OIL 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. CONVENIENT STORES
9.4.1. Overview
9.4.2. Convenient Stores Market Forecast and Analysis
9.5. ONLINE RETAIL
9.5.1. Overview
9.5.2. Online Retail Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. OLIVE OIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Olive Oil Market Overview
10.1.2 North America Olive Oil Market Forecasts and Analysis
10.1.3 North America Olive Oil Market Forecasts and Analysis - By Type
10.1.4 North America Olive Oil Market Forecasts and Analysis - By Category
10.1.5 North America Olive Oil Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Olive Oil Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Olive Oil Market
10.1.6.1.1 Canada Olive Oil Market by Type
10.1.6.1.2 Canada Olive Oil Market by Category
10.1.6.1.3 Canada Olive Oil Market by Distribution Channel
10.1.6.2 Mexico Olive Oil Market
10.1.6.2.1 Mexico Olive Oil Market by Type
10.1.6.2.2 Mexico Olive Oil Market by Category
10.1.6.2.3 Mexico Olive Oil Market by Distribution Channel
10.1.6.3 US Olive Oil Market
10.1.6.3.1 US Olive Oil Market by Type
10.1.6.3.2 US Olive Oil Market by Category
10.1.6.3.3 US Olive Oil Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Olive Oil Market Overview
10.2.2 Europe Olive Oil Market Forecasts and Analysis
10.2.3 Europe Olive Oil Market Forecasts and Analysis - By Type
10.2.4 Europe Olive Oil Market Forecasts and Analysis - By Category
10.2.5 Europe Olive Oil Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Olive Oil Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Olive Oil Market
10.2.6.1.1 Germany Olive Oil Market by Type
10.2.6.1.2 Germany Olive Oil Market by Category
10.2.6.1.3 Germany Olive Oil Market by Distribution Channel
10.2.6.2 France Olive Oil Market
10.2.6.2.1 France Olive Oil Market by Type
10.2.6.2.2 France Olive Oil Market by Category
10.2.6.2.3 France Olive Oil Market by Distribution Channel
10.2.6.3 Italy Olive Oil Market
10.2.6.3.1 Italy Olive Oil Market by Type
10.2.6.3.2 Italy Olive Oil Market by Category
10.2.6.3.3 Italy Olive Oil Market by Distribution Channel
10.2.6.4 United Kingdom Olive Oil Market
10.2.6.4.1 United Kingdom Olive Oil Market by Type
10.2.6.4.2 United Kingdom Olive Oil Market by Category
10.2.6.4.3 United Kingdom Olive Oil Market by Distribution Channel
10.2.6.5 Russia Olive Oil Market
10.2.6.5.1 Russia Olive Oil Market by Type
10.2.6.5.2 Russia Olive Oil Market by Category
10.2.6.5.3 Russia Olive Oil Market by Distribution Channel
10.2.6.6 Rest of Europe Olive Oil Market
10.2.6.6.1 Rest of Europe Olive Oil Market by Type
10.2.6.6.2 Rest of Europe Olive Oil Market by Category
10.2.6.6.3 Rest of Europe Olive Oil Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Olive Oil Market Overview
10.3.2 Asia-Pacific Olive Oil Market Forecasts and Analysis
10.3.3 Asia-Pacific Olive Oil Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Olive Oil Market Forecasts and Analysis - By Category
10.3.5 Asia-Pacific Olive Oil Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Olive Oil Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Olive Oil Market
10.3.6.1.1 Australia Olive Oil Market by Type
10.3.6.1.2 Australia Olive Oil Market by Category
10.3.6.1.3 Australia Olive Oil Market by Distribution Channel
10.3.6.2 China Olive Oil Market
10.3.6.2.1 China Olive Oil Market by Type
10.3.6.2.2 China Olive Oil Market by Category
10.3.6.2.3 China Olive Oil Market by Distribution Channel
10.3.6.3 India Olive Oil Market
10.3.6.3.1 India Olive Oil Market by Type
10.3.6.3.2 India Olive Oil Market by Category
10.3.6.3.3 India Olive Oil Market by Distribution Channel
10.3.6.4 Japan Olive Oil Market
10.3.6.4.1 Japan Olive Oil Market by Type
10.3.6.4.2 Japan Olive Oil Market by Category
10.3.6.4.3 Japan Olive Oil Market by Distribution Channel
10.3.6.5 South Korea Olive Oil Market
10.3.6.5.1 South Korea Olive Oil Market by Type
10.3.6.5.2 South Korea Olive Oil Market by Category
10.3.6.5.3 South Korea Olive Oil Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Olive Oil Market
10.3.6.6.1 Rest of Asia-Pacific Olive Oil Market by Type
10.3.6.6.2 Rest of Asia-Pacific Olive Oil Market by Category
10.3.6.6.3 Rest of Asia-Pacific Olive Oil Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Olive Oil Market Overview
10.4.2 Middle East and Africa Olive Oil Market Forecasts and Analysis
10.4.3 Middle East and Africa Olive Oil Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Olive Oil Market Forecasts and Analysis - By Category
10.4.5 Middle East and Africa Olive Oil Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Olive Oil Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Olive Oil Market
10.4.6.1.1 South Africa Olive Oil Market by Type
10.4.6.1.2 South Africa Olive Oil Market by Category
10.4.6.1.3 South Africa Olive Oil Market by Distribution Channel
10.4.6.2 Saudi Arabia Olive Oil Market
10.4.6.2.1 Saudi Arabia Olive Oil Market by Type
10.4.6.2.2 Saudi Arabia Olive Oil Market by Category
10.4.6.2.3 Saudi Arabia Olive Oil Market by Distribution Channel
10.4.6.3 U.A.E Olive Oil Market
10.4.6.3.1 U.A.E Olive Oil Market by Type
10.4.6.3.2 U.A.E Olive Oil Market by Category
10.4.6.3.3 U.A.E Olive Oil Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Olive Oil Market
10.4.6.4.1 Rest of Middle East and Africa Olive Oil Market by Type
10.4.6.4.2 Rest of Middle East and Africa Olive Oil Market by Category
10.4.6.4.3 Rest of Middle East and Africa Olive Oil Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Olive Oil Market Overview
10.5.2 South and Central America Olive Oil Market Forecasts and Analysis
10.5.3 South and Central America Olive Oil Market Forecasts and Analysis - By Type
10.5.4 South and Central America Olive Oil Market Forecasts and Analysis - By Category
10.5.5 South and Central America Olive Oil Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Olive Oil Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Olive Oil Market
10.5.6.1.1 Brazil Olive Oil Market by Type
10.5.6.1.2 Brazil Olive Oil Market by Category
10.5.6.1.3 Brazil Olive Oil Market by Distribution Channel
10.5.6.2 Argentina Olive Oil Market
10.5.6.2.1 Argentina Olive Oil Market by Type
10.5.6.2.2 Argentina Olive Oil Market by Category
10.5.6.2.3 Argentina Olive Oil Market by Distribution Channel
10.5.6.3 Rest of South and Central America Olive Oil Market
10.5.6.3.1 Rest of South and Central America Olive Oil Market by Type
10.5.6.3.2 Rest of South and Central America Olive Oil Market by Category
10.5.6.3.3 Rest of South and Central America Olive Oil 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. OLIVE OIL MARKET, KEY COMPANY PROFILES
12.1. AVRIL SCA
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. BORGES INTERNATIONAL GROUP SLU
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. BOTTICELLI FOODS
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. DEL MONTE FOODS, INC.
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. CALIFORNIA OLIVE RANCH
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. CARGILL 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. DEOLEO SA
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. BUNGE 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. OLIVIER PACIFIC LTD.
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. SOVENA GROUP
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. Avril SCA
2. Borges International Group SLU
3. Botticelli Foods
4. Del Monte Foods, Inc.
5. California Olive Ranch
6. Cargill Inc.
7. Deoleo SA
8. Bunge Ltd
9. Olivier Pacific Ltd.
10. Sovena Group
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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