Sugar-free Yogurt Market SWOT and PEST Analysis 2021-2031
The Sugar-free Yogurt Market is expected to register a CAGR of 6.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by type (plain sugar-free yogurt, stirred sugar-free yogurt, frozen sugar-free yogurt). The report further presents analysis based on distribution channel (hypermarkets and supermarkets, specialty stores, online, others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Sugar-free Yogurt Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Sugar-free Yogurt Market Segmentation
Type- Plain Sugar-free Yogurt
- Stirred Sugar-free Yogurt
- Frozen Sugar-free Yogurt
- Hypermarkets and Supermarkets
- Specialty Stores
- Online
- Others
Strategic Insights
Sugar-free Yogurt Market Growth Drivers- Increased Health Consciousness: Increased health consciousness among consumers who are fiercely looking for low-sugar and low-calorie diets has been seen as the core driver for the sugar-free yogurt market. Growing awareness about the negative implications of an overdose of sugar has led people to opt for low-sugar intakes that facilitate their wellness objectives. Consumers, who will mainly consist of fitness enthusiasts and those under dietary restriction, have been on the high-demand list for healthier yogurt options.
- Increasing Demand for High-Protein and Functional Foods: The other major commercial driving force is the increasing demand for high-protein and functional foods. Sugar-free yogurts generally contain higher protein contents, which are highly attractive to a growing population seeking ways to increase their protein levels to help build muscles and control weight. Most product lines are also now focused on including functional ingredients, such as probiotics that support gut health, in addition to the many obvious benefits that consumers will look for when selecting food products.
- E-Commerce and Retail Expansion Boost Sugar-Free Yogurt Accessibility: Another major driver behind market growth is the penetration of e-commerce and the availability of retail. The rise in grocery penetration through e-commerce and the availability of sugar-free yogurt from these brands in the digital space promise a huge market share. The increasing availability of retail through supermarkets and health food stores promotes consumer involvement and nudges consumers to try out healthier snack-related options, which is further allied with easy access for repeat purchases.
- Innovative Formulations and Dietary Preferences: Key to the future of the sugar-free yogurt market would be innovative formulations that cater to diverse dietary preferences. Brands will have an alternative in plant-based and dairy-free options offering sugar-free benefits to capture the ever-growing number of consumers on vegan or lactose-free diets. The trend would increase the market reach and increase choices among health-conscious consumers.
- Functional Ingredients Enhance the Appeal of Sugar-Free Yogurt: One functional aspect would be to include active ingredients that positively enhance the healthy values of yogurt. Fortified products with probiotics, prebiotics, vitamins, and minerals are most likely to gain the attention of consumers to fight for their general well-being. This emphasis on functionality is going to make brands stress a healthier advantage associated with their sugar-free yogurts as a way to differentiate themselves in an already saturated market.
- Sustainability and Ethical Practices Shape Sugar-Free Yogurt's Future: Another area that will influence development in this sugar-free yogurt market is sustainability. Being highly conscious of their environment, consumers are increasingly forcing the brand to source sustainably and develop eco-friendly and green packaging solutions. Consumers will especially connect with companies that stress their commitment to environmental responsibility and ethical production, thus increasing loyalty and growth in that segment.
- Flavor Innovation and Limited-Edition Offerings: Such an opportunity exists in the sugar-free yogurt market due to the possibility of new product innovation and flavor diversification. This will provide the manufacturer with opportunities to try unique and exotic flavors, like matcha, turmeric, and seasonal blends of fruits, that attract adventurous consumers. Further opportunities are forming through the creation of limited-edition flavors or partnerships with well-known brands, which will not only cause excitement and entice trial but also differentiate products in that competitive landscape.
- Emerging Markets Offer Growth Potential for Sugar-Free Yogurt Brands: Emerging markets provide a huge growth opportunity since rising disposable incomes and health-consciousness drive increased demand for healthier dairy alternatives. Companies will be able to significantly penetrate the sugar-free yogurt space in the emerging regions of Asia Pacific and Latin America by formulating products to suit local tastes and dietary choices. Cultural tastes are, therefore, a significant opportunity for brands to expand their market accessibility and appeal.
- Functional Food Trend: The "Functional Food" trend may create sugar-free yogurts as a chance to develop yogurt products with health benefits in order to support or add to gut well-being or immunity. Probiotics, prebiotics, and other superfood ingredients can be combined to make more effective products from the market for such health-conscious consumers who not only expect advantages in taste but also at a nutritional level. That is how a focus on wellness-oriented products helps the brand find a successful position in the sugar-free yogurt segment with the generation of long-term loyalty among consumers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Sugar-free Yogurt Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Sugar-free Yogurt Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Based on geography, North America held the largest share of the sugar-free yogurt market due to the well-established food retail industry across the region
The future sugar-free yogurt market is likely to include not only innovation-boosted formulations such as plant-based products and more functional ingredients, including probiotics and superfoods, but also sustainability, with brands increasingly focusing on green operations and on packaging appealing to this target group of consumers.
Based on type, stirred sugar-free yogurt segment is expected to witness the fastest growth during the forecast period
Chobani; FAGE; Danone (Oikos, Activia); Yoplait (General Mills); and Stonyfield Organic are some of the key players operating in the sugar-free yogurt market
The Sugar-free Yogurt Market is estimated to witness a CAGR of 6.3% from 2023 to 2031
Driving in the market for sugar-free yogurt are the rising health awareness of consumers who seek less sugary and low-calorie products, combined with the growing demands for high-protein and functional foods, providing extra added value in terms of health. Growth in e-commerce and availability in retail augment consumer access to sugar-free yogurt products, thereby driving the market further.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Sugar-free Yogurts Market - By Type
1.3.2 Sugar-free Yogurts Market - By Distribution Channel
1.3.3 Sugar-free Yogurts Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SUGAR-FREE YOGURTS 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. SUGAR-FREE YOGURTS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SUGAR-FREE YOGURTS MARKET - GLOBAL MARKET ANALYSIS
6.1. SUGAR-FREE YOGURTS - GLOBAL MARKET OVERVIEW
6.2. SUGAR-FREE YOGURTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SUGAR-FREE YOGURTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PLAIN SUGAR-FREE YOGURT
7.3.1. Overview
7.3.2. Plain Sugar-free Yogurt Market Forecast and Analysis
7.4. STIRRED SUGAR-FREE YOGURT
7.4.1. Overview
7.4.2. Stirred Sugar-free Yogurt Market Forecast and Analysis
7.5. FROZEN SUGAR-FREE YOGURT
7.5.1. Overview
7.5.2. Frozen Sugar-free Yogurt Market Forecast and Analysis
8. SUGAR-FREE YOGURTS MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. HYPERMARKETS AND SUPERMARKETS
8.3.1. Overview
8.3.2. Hypermarkets and Supermarkets Market Forecast and Analysis
8.4. SPECIALTY STORES
8.4.1. Overview
8.4.2. Specialty Stores Market Forecast and Analysis
8.5. ONLINE
8.5.1. Overview
8.5.2. Online Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SUGAR-FREE YOGURTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Sugar-free Yogurts Market Overview
9.1.2 North America Sugar-free Yogurts Market Forecasts and Analysis
9.1.3 North America Sugar-free Yogurts Market Forecasts and Analysis - By Type
9.1.4 North America Sugar-free Yogurts Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Sugar-free Yogurts Market Forecasts and Analysis - By Countries
9.1.5.1 United States Sugar-free Yogurts Market
9.1.5.1.1 United States Sugar-free Yogurts Market by Type
9.1.5.1.2 United States Sugar-free Yogurts Market by Distribution Channel
9.1.5.2 Canada Sugar-free Yogurts Market
9.1.5.2.1 Canada Sugar-free Yogurts Market by Type
9.1.5.2.2 Canada Sugar-free Yogurts Market by Distribution Channel
9.1.5.3 Mexico Sugar-free Yogurts Market
9.1.5.3.1 Mexico Sugar-free Yogurts Market by Type
9.1.5.3.2 Mexico Sugar-free Yogurts Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Sugar-free Yogurts Market Overview
9.2.2 Europe Sugar-free Yogurts Market Forecasts and Analysis
9.2.3 Europe Sugar-free Yogurts Market Forecasts and Analysis - By Type
9.2.4 Europe Sugar-free Yogurts Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Sugar-free Yogurts Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Sugar-free Yogurts Market
9.2.5.1.1 Germany Sugar-free Yogurts Market by Type
9.2.5.1.2 Germany Sugar-free Yogurts Market by Distribution Channel
9.2.5.2 France Sugar-free Yogurts Market
9.2.5.2.1 France Sugar-free Yogurts Market by Type
9.2.5.2.2 France Sugar-free Yogurts Market by Distribution Channel
9.2.5.3 Italy Sugar-free Yogurts Market
9.2.5.3.1 Italy Sugar-free Yogurts Market by Type
9.2.5.3.2 Italy Sugar-free Yogurts Market by Distribution Channel
9.2.5.4 United Kingdom Sugar-free Yogurts Market
9.2.5.4.1 United Kingdom Sugar-free Yogurts Market by Type
9.2.5.4.2 United Kingdom Sugar-free Yogurts Market by Distribution Channel
9.2.5.5 Russia Sugar-free Yogurts Market
9.2.5.5.1 Russia Sugar-free Yogurts Market by Type
9.2.5.5.2 Russia Sugar-free Yogurts Market by Distribution Channel
9.2.5.6 Rest of Europe Sugar-free Yogurts Market
9.2.5.6.1 Rest of Europe Sugar-free Yogurts Market by Type
9.2.5.6.2 Rest of Europe Sugar-free Yogurts Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Sugar-free Yogurts Market Overview
9.3.2 Asia-Pacific Sugar-free Yogurts Market Forecasts and Analysis
9.3.3 Asia-Pacific Sugar-free Yogurts Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Sugar-free Yogurts Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Sugar-free Yogurts Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Sugar-free Yogurts Market
9.3.5.1.1 Australia Sugar-free Yogurts Market by Type
9.3.5.1.2 Australia Sugar-free Yogurts Market by Distribution Channel
9.3.5.2 China Sugar-free Yogurts Market
9.3.5.2.1 China Sugar-free Yogurts Market by Type
9.3.5.2.2 China Sugar-free Yogurts Market by Distribution Channel
9.3.5.3 India Sugar-free Yogurts Market
9.3.5.3.1 India Sugar-free Yogurts Market by Type
9.3.5.3.2 India Sugar-free Yogurts Market by Distribution Channel
9.3.5.4 Japan Sugar-free Yogurts Market
9.3.5.4.1 Japan Sugar-free Yogurts Market by Type
9.3.5.4.2 Japan Sugar-free Yogurts Market by Distribution Channel
9.3.5.5 South Korea Sugar-free Yogurts Market
9.3.5.5.1 South Korea Sugar-free Yogurts Market by Type
9.3.5.5.2 South Korea Sugar-free Yogurts Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Sugar-free Yogurts Market
9.3.5.6.1 Rest of Asia-Pacific Sugar-free Yogurts Market by Type
9.3.5.6.2 Rest of Asia-Pacific Sugar-free Yogurts Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Sugar-free Yogurts Market Overview
9.4.2 Middle East and Africa Sugar-free Yogurts Market Forecasts and Analysis
9.4.3 Middle East and Africa Sugar-free Yogurts Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Sugar-free Yogurts Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Sugar-free Yogurts Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Sugar-free Yogurts Market
9.4.5.1.1 South Africa Sugar-free Yogurts Market by Type
9.4.5.1.2 South Africa Sugar-free Yogurts Market by Distribution Channel
9.4.5.2 Saudi Arabia Sugar-free Yogurts Market
9.4.5.2.1 Saudi Arabia Sugar-free Yogurts Market by Type
9.4.5.2.2 Saudi Arabia Sugar-free Yogurts Market by Distribution Channel
9.4.5.3 U.A.E Sugar-free Yogurts Market
9.4.5.3.1 U.A.E Sugar-free Yogurts Market by Type
9.4.5.3.2 U.A.E Sugar-free Yogurts Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Sugar-free Yogurts Market
9.4.5.4.1 Rest of Middle East and Africa Sugar-free Yogurts Market by Type
9.4.5.4.2 Rest of Middle East and Africa Sugar-free Yogurts Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Sugar-free Yogurts Market Overview
9.5.2 South and Central America Sugar-free Yogurts Market Forecasts and Analysis
9.5.3 South and Central America Sugar-free Yogurts Market Forecasts and Analysis - By Type
9.5.4 South and Central America Sugar-free Yogurts Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Sugar-free Yogurts Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Sugar-free Yogurts Market
9.5.5.1.1 Brazil Sugar-free Yogurts Market by Type
9.5.5.1.2 Brazil Sugar-free Yogurts Market by Distribution Channel
9.5.5.2 Argentina Sugar-free Yogurts Market
9.5.5.2.1 Argentina Sugar-free Yogurts Market by Type
9.5.5.2.2 Argentina Sugar-free Yogurts Market by Distribution Channel
9.5.5.3 Rest of South and Central America Sugar-free Yogurts Market
9.5.5.3.1 Rest of South and Central America Sugar-free Yogurts Market by Type
9.5.5.3.2 Rest of South and Central America Sugar-free Yogurts Market by Distribution Channel
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. SUGAR-FREE YOGURTS MARKET, KEY COMPANY PROFILES
11.1. BRIGHT DAIRY AND FOOD CO
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 MENGNIU DAIRY COMPANY LIMITED
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. DANONE S.A.
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. FAGE INTERNATIONAL S.A.
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. LAVVA
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. MEIJI DAIRIES
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. NESTLÉ
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. SHIJIAZHUANG JUNLEBAO DAIRY CO., LTD.
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. YEO VALLEY
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. YILI GROUP
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
1. Bright Dairy and Food Co
2. China Mengniu Dairy Company Limited
3. Danone S.A.
4. Fage International S.A.
5. LAVVA
6. Meiji Dairies
7. NESTLÉ
8. Shijiazhuang Junlebao Dairy Co., Ltd.
9. Yeo Valley
10. Yili 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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