Europe Sports Nutrition Market Growth Report by 2031
The Europe sports nutrition market is projected to grow from US$ 5.32 billion in 2023 to US$ 10.79 billion by 2031; the market is expected to register a CAGR of 9.3% during 2023–2031. Rising consumer engagement in fitness activities and increasing strategic initiatives by key market players are likely to remain key trends in the market.
Europe Sports Nutrition Market Analysis
There is an increase in the prevalence of health conditions such as diabetes and obesity in Europe. According to the World Health Organization (WHO), obesity and overweight affect almost 60% of adults and nearly one in three children in the WHO European Region. Also, recent estimates suggest that overweight leading to obesity is the fourth most common risk factor for noncommunicable diseases in Europe. Consumers are increasingly shifting toward a healthy and active lifestyle, owing to rising health awareness and the increasing focus on a better physical appearance. The expanding engagement of consumers in physical fitness activities augments the demand for sports nutrition products in Europe. With the rising demand for sports nutrition products, key players are taking various strategic initiatives such as innovative product launches, mergers & acquisitions, and collaborations with athletes to differentiate themselves from their competitors. Several favorable government initiatives and programs are taking place in Europe, promoting engagement in sports and physical activities. In addition, various governments are supporting women's participation in sports activities, allowing the key players to expand their consumer base to women.
Europe Sports Nutrition Market Overview
The trend of sports and physical activities in European countries, including France, the UK, Spain, and Italy, is growing considerably. The region is witnessing increased demand for protein powders and RTD beverages. Several sports nutrition product manufacturers are opting for new sources of plant-based and organic protein ingredients, such as spirulina microalgae, to differentiate themselves from their competitors in the sports nutrition market. The ingredients such as amino acids and creatine used in these sports' nutrition products target specific body functions, including weight loss, energy balance, and muscle repair. For instance, in November 2023, FrieslandCampina, a sports nutrition company, announced the launch of a new whey protein powder with protein ingredients catered to promote gut health and improve stamina, which would, in turn, support athletic performance.
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Europe Sports Nutrition Market: Strategic Insights
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Europe Sports Nutrition Market: Strategic Insights
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Europe Sports Nutrition Market Drivers and Opportunities
Increasing Strategic Initiatives by Key Players
With the growing demand for sports nutrition products, key players are taking various strategic initiatives to stand out from their competitors. Several manufacturers are launching innovative products. For instance, in 2024, the UK-based sports nutrition brand SCI-MX added a new clear whey protein isolate to its line-up of high-protein products. Moreover, several manufacturers in the sports nutrition market are engaged in collaborations with athletes to expand their customer base. For instance, in August 2023, ahead of the Paris 2024 Olympic Games, VOW Nutrition, a sports nutrition brand, collaborated with Team GB as the Official Nutrition Licensee. Several manufacturers are focusing on mergers & acquisitions to expand their product portfolio and strengthen their brand presence in the sports nutrition market. For instance, in May 2024, NUTRIVEND, a sports nutrition company, announced the acquisition of CSN Supplements Ltd. This strategic investment is expected to help the company expand its customer base and product portfolio in the sports nutrition market. Such strategic initiatives by key market players propel the Europe sports nutrition market growth.
Favorable Government Initiatives Supporting Sports Activities
The Europe sports nutrition market is driven by several favorable government initiatives and programs promoting engagement in sports and physical activities. The European Week of Sport is one of the major initiatives in this field. This allows sports organizations, enterprises, and experts from across the European Union (EU) to develop strategies to increase participation in sport-related activities; it also allows participants to celebrate sports in their communities. The increased number of athletes, fitness enthusiasts, and bodybuilders gives rise to an increased demand for sports nutrition products to enhance their muscle endurance and improve energy efficiency.
Various governments are supporting women's participation in sports activities, allowing the key players to expand their consumer base to women. In Germany, women's football is one of the fastest-growing sports, with more women playing club football. In addition, the government of the UK is supporting women athletes by launching a new sports strategy to get 1.25 million active women athletes in the country by 2030. Sports nutrition companies can potentially increase their customer base by targeting women athletes looking to increase their protein intake and enhance energy and performance. These companies can launch sports nutrition products specifically tailored to women's requirements.
Europe Sports Nutrition Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Europe sports nutrition market analysis are product type and distribution channel.
- Based on product type, the Europe sports nutrition market is segmented into supplements, bars, RTD beverages, and others. The supplements segment accounted for the largest share in 2023.
- In terms of distribution channels, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest share in 2023.
Europe Sports Nutrition Market Share Analysis by Country
The scope of the Europe sports nutrition market report is mainly divided into Germany, France, Italy, Spain, the UK, Romania, Hungary, and the Rest of Europe. Romania is expected to record the highest CAGR during the forecast period. The increasing number of fitness enthusiasts is driving the sports nutrition market growth in Romania. In the Romania health & fitness market, there is an increased demand for premium health & fitness clubs, accompanied by a higher willingness to pay. The healthy lifestyle trend is an increasingly influential factor when it comes to leisure activities and personal time. This offers an opportunity for market players to expand their product offerings and fulfill consumer needs. In addition, favorable government initiatives are fueling the market growth in the country. The Romanian Football Federation aims to increase the number of footballers across the nation. Furthermore, market players are focusing on various strategic activities, such as partnerships, new product launches, and others to stay competitive in the market. For instance, in 2024, DY Nutrition Global entered into a strategic partnership with Vitema Pharmaceuticals, one of the modern GMP-certified manufacturing facilities in Romania, for the production of dietary supplements at the highest quality standards. Such developments are further expected to positively influence the market growth in the country.
Europe Sports Nutrition Market Report Scope
Europe Sports Nutrition Market News and Recent Developments
The Europe sports nutrition market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
- PepsiCo introduced a new Gatorade sports drink, Gatorlyte, designed for athletes seeking rapid rehydration. (Source: Optimum Nutrition, Company Website, May 2021)
- Optimum Nutrition, an innovative brand that uses cutting-edge technology to create a clear protein shake, introduced Clear Protein. (Source: Optimum Nutrition, Company Website, October 2023)
- NOW Foods partnered with The Brooks Beasts Track Club as the official sports nutrition partner. (Source: NOW Foods, Press Release, February 2024)
Europe Sports Nutrition Market Report Coverage and Deliverables
The "Europe Sports Nutrition Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Europe sports nutrition market size and forecast for all the key market segments covered under the scope
- Europe sports nutrition market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter's Five Forces and SWOT analysis
- Europe sports nutrition market analysis covering key market trends, country framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Europe sports nutrition 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
Preference for sports nutrition products with vegan and organic claims is expected to emerge as a future trend in the market during the forecast period.
Rising engagement of consumers in physical fitness activities and increasing strategic initiatives by key players drive the market growth.
The market is expected to register a CAGR of 9.3% during 2023–2031.
Glanbia plc; NOW Foods; Garden of Life; PepsiCo Inc.; Quest Nutrition LLC; Abbott Laboratories; Amway Corp; GNC Holdings, LLC; Worldwide Sport Nutritional Supplements, Inc.; and Herbalife Nutrition Ltd. are among the key players operating in the market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Europe Sports Nutrition 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 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors/Retailers
5. Europe Sports Nutrition Market – Key Market Dynamics
5.1 Europe Sports Nutrition Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Engagement of Consumers in Physical Fitness Activities
5.2.2 Increasing Strategic Initiatives by Key Players
5.3 Market Restraints
5.3.1 Potential Side-Effects of Sports Supplements
5.4 Market Opportunities
5.4.1 Favorable Government Initiatives Supporting Sports Activities
5.5 Future Trends
5.5.1 Preference for Sports Nutrition Products with Vegan and Organic Claims
5.6 Impact of Drivers and Restraints:
6. Europe Sports Nutrition Market Analysis
6.1 Europe Sports Nutrition Market Revenue (US$ Million), 2021–2031
6.2 Europe Sports Nutrition Market Forecast and Analysis
7. Europe Sports Nutrition Market Analysis – by Product Type
7.1 Supplements
7.1.1 Overview
7.1.2 Supplements: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.1.3 Powders
7.1.3.1 Overview
7.1.3.2 Powders: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.1.4 Tablets and Capsules
7.1.4.1 Overview
7.1.4.2 Tablets and Capsules: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.1.5 Gummies
7.1.5.1 Overview
7.1.5.2 Gummies: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.1.6 Other Supplements
7.1.6.1 Overview
7.1.6.2 Other Supplements: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Bars
7.2.1 Overview
7.2.2 Bars: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.3 RTD Beverages
7.3.1 Overview
7.3.2 RTD Beverages: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
8. Europe Sports Nutrition Market Analysis – by Distribution Channel
8.1 Supermarkets and Hypermarkets
8.1.1 Overview
8.1.2 Supermarkets and Hypermarkets: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Specialty Stores
8.2.1 Overview
8.2.2 Specialty Stores: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Online Retail
8.3.1 Overview
8.3.2 Online Retail: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9. Europe Sports Nutrition Market – Country Analysis
9.1 Europe
9.1.1 Europe Sports Nutrition Market Breakdown by Countries
9.1.2 Europe Sports Nutrition Market Revenue and Forecast and Analysis – by Country
9.1.2.1 Europe Sports Nutrition Market Revenue and Forecast and Analysis – by Country
9.1.2.2 Germany: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.2.1 Germany: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.2.2 Germany: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.3 France: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.3.1 France: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.3.2 France: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.4 Italy: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.4.1 Italy: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.4.2 Italy: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.5 United Kingdom: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.5.1 United Kingdom: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.5.2 United Kingdom: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.6 Spain: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.6.1 Spain: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.6.2 Spain: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.7 Romania: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.7.1 Romania: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.7.2 Romania: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.8 Hungary: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.8.1 Hungary: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.8.2 Hungary: Europe Sports Nutrition Market Breakdown by Distribution Channel
9.1.2.9 Rest of Europe: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
9.1.2.9.1 Rest of Europe: Europe Sports Nutrition Market Breakdown by Product Type
9.1.2.9.2 Rest of Europe: Europe Sports Nutrition Market Breakdown by Distribution Channel
10. Competitive Landscape
10.1 Heat Map Analysis
10.2 Company Positioning and Concentration
11. Industry Landscape
11.1 Overview
11.2 New Product Launches
11.3 Partnership
12. Company Profiles
12.1 Glanbia Plc
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 NOW Foods
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 Garden of Life LLC
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 PepsiCo 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 Quest Nutritional LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Abbott Laboratories
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 Amway Corp
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 GNC Holdings, LLC
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 Worldwide Sport Nutritional Supplements, Inc.
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 Herbalife Nutrition Ltd.
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
List of Tables
Table 1. Europe Sports Nutrition Market Segmentation
Table 2. Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Table 3. Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 4. Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 5. Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 6. Germany: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 7. Germany: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 8. France: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 9. France: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 10. Italy: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 11. Italy: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 12. United Kingdom: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 13. United Kingdom: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 14. Spain: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 15. Spain: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 16. Romania: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 17. Romania: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 18. Hungary: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 19. Hungary: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 20. Rest of Europe: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 21. Rest of Europe: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 22. Heat Map Analysis
List of Figures
Figure 1. Europe Sports Nutrition Market Segmentation, by Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Sports Nutrition Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Sports Nutrition Market Revenue (US$ Million), 2021–2031
Figure 6. Europe Sports Nutrition Market Share (%) – by Product Type, 2023 and 2031
Figure 7. Supplements: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Powders: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Tablets and Capsules: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 10. Gummies: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 11. Other Supplements: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 12. Bars: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. RTD Beverages: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. Others: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 15. Europe Sports Nutrition Market Share (%) – by Distribution Channel, 2023 and 2031
Figure 16. Supermarkets and Hypermarkets: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 17. Specialty Stores: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 18. Online Retail: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 19. Others: Europe Sports Nutrition Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Europe Sports Nutrition Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 21. Germany: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. France: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Italy: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. United Kingdom: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Spain: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Romania: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Hungary: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Rest of Europe: Europe Sports Nutrition Market – Revenue and Forecast to 2031 (US$ Million)
Figure 29. Company Positioning and Concentration
The List of Companies - Europe Sports Nutrition Market
- Glanbia Plc
- PepsiCo Inc
- The Coca-Cola Co
- Abbott Laboratories
- MUSCLEPHARM CORPORATION
- GNC HOLDINGS INC
- NOW Health Group Inc
- Garden of Life LLC
- Quest Nutritional LLC
- Herbalife Nutrition 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.
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