The Southeast Asia ice cream market is expected to grow from US$ 7,175.68 million in 2022 to US$ 9,529.27 million by 2028; it is estimated to record a CAGR of 4.8% from 2022 to 2028.
Ice cream is one of the popular desserts and is available in various flavors. The growth in the ice cream industry is driven by the availability of various flavored ice creams, especially seasonal fruit flavors, and increasing flavored innovations by manufacturers. In recent years, functional ice cream has become popular among health-conscious consumers as it contains high-quality ingredients and fulfills consumers’ nutritional requirements more than regular ice cream. So, the increasing interest of ice cream manufacturers in fortification and the addition of functional ingredients may influence the consumer’s decision to select a healthy alternative. Moreover, sugar-free, low-fat functional ice creams are gaining huge popularity due to their health benefits.
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.
Southeast Asia Ice Cream Market: Strategic Insights
Market Size Value in US$ 7,175.68 million in 2022 Market Size Value by US$ 9,529.27 million by 2028 Growth rate CAGR of 4.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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.
Southeast Asia Ice Cream Market: Strategic Insights
| Market Size Value in | US$ 7,175.68 million in 2022 |
| Market Size Value by | US$ 9,529.27 million by 2028 |
| Growth rate | CAGR of 4.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Insights
Availability of Innovative Flavors and Loaded Indulgence to Drive Southeast Asia Ice Cream Market Growth in Coming Years
Ice cream manufacturers are developing products with nutritional components, organic herbal fillings, and exotic flavors in product formulation to acquire a competitive advantage and attract more consumers. Manufacturers are introducing exotic flavors such as coconut, lemon, and tropical fruits to adapt shifting consumers' taste preferences. Additionally, consumers in Southeast Asia are concerned about their health and favor Skinny Cow, a low-calorie and low-fat ice cream brand. Thus, manufacturers are modifying the ingredients used in the products based on consumer preferences and introducing new products to differentiate their offerings. Ben & Jerry's launched an ice cream with CBD additives, which are available across the world. Further, liquor ice cream is gaining popularity across the region. The products contain less than 0.5% alcohol; therefore, they are widely retailed in grocery and specialty stores. In September 2021, Häagen-Dazs launched a spirit-infused ice cream with a flavor of five traditional pints made with Irish cream, rum, bourbon, and stout.
Ice cream manufacturers are investing significantly in product innovation to expand their customer base and meet emerging consumer demands. Many market players in Southeast Asia are launching innovative limited edition and seasonal flavors for frozen delight in collaboration with local players to attract consumers. For instance, in July 2021, Kraft Macaroni & Cheese launched a limited-edition ice cream in collaboration with Van Leeuwen—a Brooklyn-based ice cream brand. These two brands collaborated to launch a Kraft Macaroni & Cheese summer treat that claims to have no artificial flavors and preservatives. Kraft Macaroni & Cheese ice cream would be available at Van Leeuwen scoop shops and online platforms such as Amazon and Walmart in various countries, including Thailand and Singapore. Therefore, catering premium products with innovative flavors and loaded indulgences to consumers are driving the growth of Southeast Asia ice cream market
Flavor-Based Insights
Based on flavor, the Southeast Asia ice cream market is segmented into vanilla, chocolate, fruit, and others. In 2022, the fruit segment held the largest market share. Fruit flavors play a significant role in the ice cream industry. As the consumers are extensively becoming health conscious, there is a surge in demand for natural and nutritional ingredients, including organic and exotic fruit flavors and natural fruit slices, in the ice cream. Hence, rising demand for flavors made from kiwi, blueberry, dragon fruit, guava, grapes, figs, plums, peach, mangosteen, and avocado has influenced the manufacturers to include these flavors in their product line of ice creams. Consumers’ ever-changing eating habits and increasing inclination toward exotic fruit flavors drive the market growth for the fruit segment. Also, the rising demand for low-sugar, low-calorie, and high-quality ingredients would create lucrative opportunities for the segment in the coming years.
Southeast Asia Ice Cream Market Share, by Flavor, 2022 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Lotte Corp, Nestle SA, BR IP Holders LLC, Morinaga & Co Ltd, Mars Inc, General Mills Inc, Unilever PLC, Binggrae Co Ltd, Udders Pte Ltd, and American Food Co Ltd are among the major players operating in the Southeast Asia ice cream market. These companies have their ice creams production and distribution operations in various countries worldwide, especially in Southeast Asia countries, which helps them cater to a wider customer base.
Report Spotlights
- Progressive trends in the ice cream industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the Southeast Asia ice cream market from 2022 to 2028
- Estimation of the demand for ice cream
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario and the demand for ice cream
- Market trends and outlook, and factors driving and restraining the Southeast Asia ice cream market growth
- Understanding the strategies that underpin commercial interest with regard to the Southeast Asia ice cream market growth, aiding in the decision-making process
- Southeast Asia ice cream market size at various nodes of market
- Detailed overview and segmentation of the Southeast Asia ice cream market and its industry dynamics
- Southeast Asia ice cream market size in various regions with promising growth opportunities
The "Southeast Asia Ice Cream Market Forecast to 2028" is a specialized and in-depth study of the food and beverages industry, focusing on the Southeast Asia ice cream market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The Southeast Asia ice cream market is segmented on the basis of flavor, category, and distribution channel. Based on flavor, the market is segmented into vanilla, chocolate, fruit, and others. Based on category, the Southeast Asia ice cream market is bifurcated into conventional and sugar free. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.
Company Profiles
- Lotte Corp
- Nestle SA
- BR IP Holders LLC
- Morinaga & Co Ltd.
- Mars Inc.
- General Mills Inc.
- Unilever PLC
- Binggrae Co Ltd
- Udders Pte Ltd.
- American Food Co Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Flavor, Category, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
3.2.8 Limitations and Assumptions:
4. Ice Cream Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
4.4.1 Raw Material
4.4.2 Manufacturing Process
4.4.3 Retailers
5. Southeast Asia Ice Cream Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Ever-Growing Demand for Ice Cream Among Frozen Delight
5.1.2 Availability of Innovative Flavors and Loaded Indulgence
5.2 Market Restraints
5.2.1 Health Concerns Associated with Ice Cream
5.3 Market Opportunities
5.3.1 Rising Popularity of Functional Ice Cream
5.4 Future Trends
5.4.1 Increasing Demand for Dairy-Free and Vegan Ice Cream
5.5 Impact Analysis of Drivers and Restraints
6. Ice Cream – Market Analysis
6.1 Ice Cream Market Overview
6.2 Southeast Asia Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Ice Cream Market Analysis – By Flavor
7.1 Overview
7.2 Ice Cream Market, By Flavor (2021 and 2028)
7.3 Vanilla
7.3.1 Overview
7.3.2 Vanilla: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Chocolate
7.4.1 Overview
7.4.2 Chocolate: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Fruit
7.5.1 Overview
7.5.2 Fruit: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
8. Ice Cream Market Analysis – By Category
8.1 Overview
8.2 Ice Cream Market, By Category (2021 and 2028)
8.3 Conventional
8.3.1 Overview
8.3.2 Conventional: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
8.4 Sugar Free
8.4.1 Overview
8.4.2 Sugar Free: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
9. Ice Cream Market Analysis – By Distribution Channel
9.1 Overview
9.2 Ice Cream Market, By Distribution Channel (2021 and 2028)
9.3 Supermarkets and Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets and Hypermarkets: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
9.4 Specialty Stores
9.4.1 Overview
9.4.2 Specialty Stores: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Ice Cream Market– Revenue and Forecast to 2028 (US$ Million)
10. Southeast Asia Ice Cream Market – Geographic Analysis
10.1 Overview
10.1.1 Southeast Asia: Ice Cream Market, by Key Country
10.1.1.1 Indonesia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Indonesia: Ice Cream Market, by Flavor
10.1.1.1.2 Indonesia: Ice Cream Market, by Category
10.1.1.1.3 Indonesia: Ice Cream Market, by Distribution Channel
10.1.1.2 Malaysia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Malaysia: Ice Cream Market, By Flavor
10.1.1.2.2 Malaysia: Ice Cream Market, By Category
10.1.1.2.3 Malaysia: Ice Cream Market, By Distribution Channel
10.1.1.3 Philippines: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Philippines: Ice Cream Market, By Flavor
10.1.1.3.2 Philippines: Ice Cream Market, By Category
10.1.1.3.3 Philippines: Ice Cream Market, By Distribution Channel
10.1.1.4 Thailand: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Thailand: Ice Cream Market, By Flavor
10.1.1.4.2 Thailand: Ice Cream Market, By Category
10.1.1.4.3 Thailand: Ice Cream Market, By Distribution Channel
10.1.1.5 Singapore: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Singapore: Ice Cream Market, By Flavor
10.1.1.5.2 Singapore: Ice Cream Market, By Category
10.1.1.5.3 Singapore: Ice Cream Market, By Distribution Channel
10.1.1.6 Vietnam: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Vietnam: Ice Cream Market, By Flavor
10.1.1.6.2 Vietnam: Ice Cream Market, By Category
10.1.1.6.3 Vietnam: Ice Cream Market, By Distribution Channel
10.1.1.7 Rest of Southeast Asia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.7.1 Rest of Southeast Asia: Ice Cream Market, By Flavor
10.1.1.7.2 Rest of Southeast Asia: Ice Cream Market, By Category
10.1.1.7.3 Rest of Southeast Asia: Ice Cream Market, By Distribution Channel
11. Impact of COVID-19 Pandemic on Ice Cream Market
11.1 Impact of COVID-19 on Southeast Asia Ice Cream Market
12. Industry Landscape
12.1 Overview
12.2 New Product Development
12.3 Partnerships
12.4 Other Business Strategies
13. Company Profiles
13.1 Lotte Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Nestle SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 BR IP Holders LLC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Morinaga & Co Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Mars Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 General Mills Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Binggrae Co Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Udders Pte Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 American Food Co Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Unilever Plc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Southeast Asia Ice Cream Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Southeast Asia Ice Cream Market, by Flavor– Revenue and Forecast to 2028 (US$ Million)
Table 3. Southeast Asia Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 4. Southeast Asia Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 5. Indonesia Ice Cream Market, by Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 6. Indonesia Ice Cream Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 7. Indonesia Ice Cream Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 8. Malaysia Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 9. Malaysia Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 10. Malaysia Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 11. Philippines Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 12. Philippines Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 13. Philippines Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 14. Thailand Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 15. Thailand Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 16. Thailand Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 17. Singapore Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 18. Singapore Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 19. Singapore Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 20. Vietnam Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 21. Vietnam Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 22. Vietnam Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Southeast Asia Ice Cream Market, By Flavor – Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Southeast Asia Ice Cream Market, Category – Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Southeast Asia Ice Cream Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. Ice Cream Market Segmentation
Figure 2. Ice Cream Market Segmentation – By Geography
Figure 3. Southeast Asia Ice Cream Market Overview
Figure 4. Fruit Segment Held the Largest Share in 2021
Figure 5. Indonesia Dominated the Ice Cream Market in 2021
Figure 6. Southeast Asia Ice Cream Market, Key Market Players
Figure 7. Porter’s Analysis: Southeast Asia Ice Cream Market
Figure 8. Expert Opinion
Figure 9. Ecosystem: Ice Cream Market
Figure 10. Southeast Asia Ice Cream Market: Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Ice Cream Market
Figure 12. Southeast Asia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Key Players: Ice Cream Market
Figure 14. Ice Cream Market Revenue Share, By Flavor (2021 and 2028)
Figure 15. Vanilla: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Chocolate: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. Fruit: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Others: Ice Cream Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Ice Cream Market Revenue Share, By Category (2021 and 2028)
Figure 20. Conventional: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 21. Sugar Free: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 22. Ice Cream Market Revenue Share, By Distribution Channel (2021 and 2028)
Figure 23. Supermarkets and Hypermarkets: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 24. Specialty Stores: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 25. Online Retail: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 26. Others: Ice Cream Market– Revenue and Forecast To 2028 (US$ Million)
Figure 27. Southeast Asia: Ice Cream Market Revenue Share, by Key Country (2021 and 2028)
Figure 28. Indonesia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Malaysia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Philippines: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Thailand: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Singapore: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Vietnam: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of Southeast Asia: Ice Cream Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic on Southeast Asia Country Markets
The List of Companies - Southeast Asia Ice Cream Market
- Lotte Corp
- Nestle SA
- BR IP Holders LLC
- Morinaga & Co Ltd
- Mars Inc
- General Mills Inc
- Unilever PLC
- Binggrae Co Ltd
- Udders Pte Ltd
- American Food Co Ltd.
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.
Get Free Sample For