Licorice Candy Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights
Coverage: Licorice Candy Market covers analysis by Product (Black Pure Licorice, Multiple Layer Candy with Licorice, Others); End User (Restaurants and Hotels, Schools and Institutions, Recreational and Sports Centers, Household Consumption, Others); Packaging (Cans, Jars, Bottles, Others); Sales Channel (Direct Sales, Indirect Sales) , and Geography (North America, Europe, Asia Pacific, and South and Central America)
- Report Date : Nov 2025
- Report Code : TIPRE00013414
- Category : Food and Beverages
- Status : Upcoming
- Available Report Formats :
- No. of Pages : 150
The Licorice Candy Market is expected to register a CAGR of XX% from 2025 to 2031, with a market size expanding from US$ XX Million in 2024 to US$ XX Million by 2031.
The report is categorized by Product (Black Pure Licorice, Multiple Layer Candy with Licorice) and further analyzes the market based on End User (Restaurants and Hotels, Schools and Institutions, Recreational and Sports Centers, Household Consumption). It also examines the market by Packaging (Cans, Jars, Bottles) and Industry Sales Channel (Direct Sales, Indirect Sales).A comprehensive breakdown is provided at global, regional, and country levels for each of these key segments.
The report includes market size and forecasts across all segments, presenting values in USD. It also delivers key statistics on the current market status of leading players, along with insights into prevailing market trends and emerging opportunities.
The report Licorice Candy 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.
Licorice Candy Market Segmentation
Product- Black Pure Licorice
- Multiple Layer Candy with Licorice
- Restaurants and Hotels
- Schools and Institutions
- Recreational and Sports Centers
- Household Consumption
- Cans
- Jars
- Bottles
- Direct Sales
- Indirect Sales
Strategic Insights
Licorice Candy Market Growth Drivers- Sweetening the Deal: Unique Flavors Captivate Candy Lovers
- Nostalgic Treats: Reviving Classic Licorice for Modern Palates
- Health-Conscious Choices: Natural Ingredients Boost Licorice Appeal
- Licorice Candy Goes Organic: A Sweet Shift Towards Healthier Treats
- Innovative Flavors: Licorice Candy Embraces Global Taste Trends
- Eco-Friendly Packaging: Licorice Brands Lead in Sustainability Efforts
- Sweeten Your Day: Explore the Growing Licorice Candy Market
- Unique Flavors: Discover Artisan Licorice for Gourmet Lovers
- Health-Conscious Treats: Dive into Natural Licorice Options
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Licorice Candy 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 Licorice Candy 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Licorice Candy Market - By Product
1.3.2Licorice Candy Market - By End User
1.3.3Licorice Candy Market - By Packaging
1.3.4Licorice Candy Market - By Sales Channel
1.3.5Licorice Candy Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.LICORICE CANDY MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.LICORICE CANDY 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.LICORICE CANDY MARKET - GLOBAL MARKET ANALYSIS
6.1.LICORICE CANDY - GLOBAL MARKET OVERVIEW
6.2.LICORICE CANDY - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.LICORICE CANDY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.BLACK PURE LICORICE
7.3.1.Overview
7.3.2.Black Pure Licorice Market Forecast and Analysis
7.4.MULTIPLE LAYER CANDY WITH LICORICE
7.4.1.Overview
7.4.2.Multiple Layer Candy with Licorice Market Forecast and Analysis
7.5.OTHERS
7.5.1.Overview
7.5.2.Others Market Forecast and Analysis
8.LICORICE CANDY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1.OVERVIEW
8.2.END USER MARKET FORECASTS AND ANALYSIS
8.3.RESTAURANTS AND HOTELS
8.3.1.Overview
8.3.2.Restaurants and Hotels Market Forecast and Analysis
8.4.SCHOOLS AND INSTITUTIONS
8.4.1.Overview
8.4.2.Schools and Institutions Market Forecast and Analysis
8.5.RECREATIONAL AND SPORTS CENTERS
8.5.1.Overview
8.5.2.Recreational and Sports Centers Market Forecast and Analysis
8.6.HOUSEHOLD CONSUMPTION
8.6.1.Overview
8.6.2.Household Consumption Market Forecast and Analysis
8.7.OTHERS
8.7.1.Overview
8.7.2.Others Market Forecast and Analysis
9.LICORICE CANDY MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGING
9.1.OVERVIEW
9.2.PACKAGING MARKET FORECASTS AND ANALYSIS
9.3.CANS
9.3.1.Overview
9.3.2.Cans Market Forecast and Analysis
9.4.JARS
9.4.1.Overview
9.4.2.Jars Market Forecast and Analysis
9.5.BOTTLES
9.5.1.Overview
9.5.2.Bottles Market Forecast and Analysis
9.6.OTHERS
9.6.1.Overview
9.6.2.Others Market Forecast and Analysis
10.LICORICE CANDY MARKET - REVENUE AND FORECASTS TO 2028 - SALES CHANNEL
10.1.OVERVIEW
10.2.SALES CHANNEL MARKET FORECASTS AND ANALYSIS
10.3.DIRECT SALES
10.3.1.Overview
10.3.2.Direct Sales Market Forecast and Analysis
10.4.INDIRECT SALES
10.4.1.Overview
10.4.2.Indirect Sales Market Forecast and Analysis
11.LICORICE CANDY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Licorice Candy Market Overview
11.1.2North America Licorice Candy Market Forecasts and Analysis
11.1.3North America Licorice Candy Market Forecasts and Analysis - By Product
11.1.4North America Licorice Candy Market Forecasts and Analysis - By End User
11.1.5North America Licorice Candy Market Forecasts and Analysis - By Packaging
11.1.6North America Licorice Candy Market Forecasts and Analysis - By Sales Channel
11.1.7North America Licorice Candy Market Forecasts and Analysis - By Countries
11.1.7.1United States Licorice Candy Market
11.1.7.1.1United States Licorice Candy Market by Product
11.1.7.1.2United States Licorice Candy Market by End User
11.1.7.1.3United States Licorice Candy Market by Packaging
11.1.7.1.4United States Licorice Candy Market by Sales Channel
11.1.7.2Canada Licorice Candy Market
11.1.7.2.1Canada Licorice Candy Market by Product
11.1.7.2.2Canada Licorice Candy Market by End User
11.1.7.2.3Canada Licorice Candy Market by Packaging
11.1.7.2.4Canada Licorice Candy Market by Sales Channel
11.1.7.3Mexico Licorice Candy Market
11.1.7.3.1Mexico Licorice Candy Market by Product
11.1.7.3.2Mexico Licorice Candy Market by End User
11.1.7.3.3Mexico Licorice Candy Market by Packaging
11.1.7.3.4Mexico Licorice Candy Market by Sales Channel
11.2.EUROPE
11.2.1Europe Licorice Candy Market Overview
11.2.2Europe Licorice Candy Market Forecasts and Analysis
11.2.3Europe Licorice Candy Market Forecasts and Analysis - By Product
11.2.4Europe Licorice Candy Market Forecasts and Analysis - By End User
11.2.5Europe Licorice Candy Market Forecasts and Analysis - By Packaging
11.2.6Europe Licorice Candy Market Forecasts and Analysis - By Sales Channel
11.2.7Europe Licorice Candy Market Forecasts and Analysis - By Countries
11.2.7.1Germany Licorice Candy Market
11.2.7.1.1Germany Licorice Candy Market by Product
11.2.7.1.2Germany Licorice Candy Market by End User
11.2.7.1.3Germany Licorice Candy Market by Packaging
11.2.7.1.4Germany Licorice Candy Market by Sales Channel
11.2.7.2France Licorice Candy Market
11.2.7.2.1France Licorice Candy Market by Product
11.2.7.2.2France Licorice Candy Market by End User
11.2.7.2.3France Licorice Candy Market by Packaging
11.2.7.2.4France Licorice Candy Market by Sales Channel
11.2.7.3Italy Licorice Candy Market
11.2.7.3.1Italy Licorice Candy Market by Product
11.2.7.3.2Italy Licorice Candy Market by End User
11.2.7.3.3Italy Licorice Candy Market by Packaging
11.2.7.3.4Italy Licorice Candy Market by Sales Channel
11.2.7.4United Kingdom Licorice Candy Market
11.2.7.4.1United Kingdom Licorice Candy Market by Product
11.2.7.4.2United Kingdom Licorice Candy Market by End User
11.2.7.4.3United Kingdom Licorice Candy Market by Packaging
11.2.7.4.4United Kingdom Licorice Candy Market by Sales Channel
11.2.7.5Russia Licorice Candy Market
11.2.7.5.1Russia Licorice Candy Market by Product
11.2.7.5.2Russia Licorice Candy Market by End User
11.2.7.5.3Russia Licorice Candy Market by Packaging
11.2.7.5.4Russia Licorice Candy Market by Sales Channel
11.2.7.6Rest of Europe Licorice Candy Market
11.2.7.6.1Rest of Europe Licorice Candy Market by Product
11.2.7.6.2Rest of Europe Licorice Candy Market by End User
11.2.7.6.3Rest of Europe Licorice Candy Market by Packaging
11.2.7.6.4Rest of Europe Licorice Candy Market by Sales Channel
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Licorice Candy Market Overview
11.3.2Asia-Pacific Licorice Candy Market Forecasts and Analysis
11.3.3Asia-Pacific Licorice Candy Market Forecasts and Analysis - By Product
11.3.4Asia-Pacific Licorice Candy Market Forecasts and Analysis - By End User
11.3.5Asia-Pacific Licorice Candy Market Forecasts and Analysis - By Packaging
11.3.6Asia-Pacific Licorice Candy Market Forecasts and Analysis - By Sales Channel
11.3.7Asia-Pacific Licorice Candy Market Forecasts and Analysis - By Countries
11.3.7.1Australia Licorice Candy Market
11.3.7.1.1Australia Licorice Candy Market by Product
11.3.7.1.2Australia Licorice Candy Market by End User
11.3.7.1.3Australia Licorice Candy Market by Packaging
11.3.7.1.4Australia Licorice Candy Market by Sales Channel
11.3.7.2China Licorice Candy Market
11.3.7.2.1China Licorice Candy Market by Product
11.3.7.2.2China Licorice Candy Market by End User
11.3.7.2.3China Licorice Candy Market by Packaging
11.3.7.2.4China Licorice Candy Market by Sales Channel
11.3.7.3India Licorice Candy Market
11.3.7.3.1India Licorice Candy Market by Product
11.3.7.3.2India Licorice Candy Market by End User
11.3.7.3.3India Licorice Candy Market by Packaging
11.3.7.3.4India Licorice Candy Market by Sales Channel
11.3.7.4Japan Licorice Candy Market
11.3.7.4.1Japan Licorice Candy Market by Product
11.3.7.4.2Japan Licorice Candy Market by End User
11.3.7.4.3Japan Licorice Candy Market by Packaging
11.3.7.4.4Japan Licorice Candy Market by Sales Channel
11.3.7.5Rest of Asia-Pacific Licorice Candy Market
11.3.7.5.1Rest of Asia-Pacific Licorice Candy Market by Product
11.3.7.5.2Rest of Asia-Pacific Licorice Candy Market by End User
11.3.7.5.3Rest of Asia-Pacific Licorice Candy Market by Packaging
11.3.7.5.4Rest of Asia-Pacific Licorice Candy Market by Sales Channel
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Licorice Candy Market Overview
11.4.2Middle East and Africa Licorice Candy Market Forecasts and Analysis
11.4.3Middle East and Africa Licorice Candy Market Forecasts and Analysis - By Product
11.4.4Middle East and Africa Licorice Candy Market Forecasts and Analysis - By End User
11.4.5Middle East and Africa Licorice Candy Market Forecasts and Analysis - By Packaging
11.4.6Middle East and Africa Licorice Candy Market Forecasts and Analysis - By Sales Channel
11.4.7Middle East and Africa Licorice Candy Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Licorice Candy Market
11.4.7.1.1South Africa Licorice Candy Market by Product
11.4.7.1.2South Africa Licorice Candy Market by End User
11.4.7.1.3South Africa Licorice Candy Market by Packaging
11.4.7.1.4South Africa Licorice Candy Market by Sales Channel
11.4.7.2Saudi Arabia Licorice Candy Market
11.4.7.2.1Saudi Arabia Licorice Candy Market by Product
11.4.7.2.2Saudi Arabia Licorice Candy Market by End User
11.4.7.2.3Saudi Arabia Licorice Candy Market by Packaging
11.4.7.2.4Saudi Arabia Licorice Candy Market by Sales Channel
11.4.7.3U.A.E Licorice Candy Market
11.4.7.3.1U.A.E Licorice Candy Market by Product
11.4.7.3.2U.A.E Licorice Candy Market by End User
11.4.7.3.3U.A.E Licorice Candy Market by Packaging
11.4.7.3.4U.A.E Licorice Candy Market by Sales Channel
11.4.7.4Rest of Middle East and Africa Licorice Candy Market
11.4.7.4.1Rest of Middle East and Africa Licorice Candy Market by Product
11.4.7.4.2Rest of Middle East and Africa Licorice Candy Market by End User
11.4.7.4.3Rest of Middle East and Africa Licorice Candy Market by Packaging
11.4.7.4.4Rest of Middle East and Africa Licorice Candy Market by Sales Channel
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Licorice Candy Market Overview
11.5.2South and Central America Licorice Candy Market Forecasts and Analysis
11.5.3South and Central America Licorice Candy Market Forecasts and Analysis - By Product
11.5.4South and Central America Licorice Candy Market Forecasts and Analysis - By End User
11.5.5South and Central America Licorice Candy Market Forecasts and Analysis - By Packaging
11.5.6South and Central America Licorice Candy Market Forecasts and Analysis - By Sales Channel
11.5.7South and Central America Licorice Candy Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Licorice Candy Market
11.5.7.1.1Brazil Licorice Candy Market by Product
11.5.7.1.2Brazil Licorice Candy Market by End User
11.5.7.1.3Brazil Licorice Candy Market by Packaging
11.5.7.1.4Brazil Licorice Candy Market by Sales Channel
11.5.7.2Argentina Licorice Candy Market
11.5.7.2.1Argentina Licorice Candy Market by Product
11.5.7.2.2Argentina Licorice Candy Market by End User
11.5.7.2.3Argentina Licorice Candy Market by Packaging
11.5.7.2.4Argentina Licorice Candy Market by Sales Channel
11.5.7.3Rest of South and Central America Licorice Candy Market
11.5.7.3.1Rest of South and Central America Licorice Candy Market by Product
11.5.7.3.2Rest of South and Central America Licorice Candy Market by End User
11.5.7.3.3Rest of South and Central America Licorice Candy Market by Packaging
11.5.7.3.4Rest of South and Central America Licorice Candy Market by Sales Channel
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.LICORICE CANDY MARKET, KEY COMPANY PROFILES
13.1.THE OLD TIME CANDY COMPANY
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.AMERICAN LICORICE COMPANY
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.GIMBAL'S FINE CANDY
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.KENNYSCANDY
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.KOOKABURRA LIQUORICE
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.LICORICE INTERNATIONAL 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.PERFETTI VAN MELLE INC.
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.SWEET GOURMET
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.SWITZER CANDY COMPANY, INC
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.THE HERSHEY COMPANY
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.GLOSSARY OF TERMS
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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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