The US & LATAM functional shots market was valued at US$ 2,309.25 million in 2019 and is projected to reach US$ 3,465.42 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.
Functional shots are referred to as non-alcoholic beverages fortified with specific nutrients to provide a variety of health benefits. They are typically available in a wide range of varieties and are customized to provide the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. Some of the widely available functional shots include sports and energy drinks, yogurt, enhanced water, fruit juice, and ready-to-drink (RTD) teas. They are produced using ingredients such as onion, ginger, black pepper, beetroot, garlic, mushrooms, and algae.
In 2019, Mexico held significant share in the US & LATAM functional shots market. The growth of US & LATAM functional shots market in Mexico is primarily attributable to the growth of functional shots market in Mexico is primarily attributable to the trend of gyms and wellness instruction is booming, from accessories and diets to training. Manufacturers are taking advantage of this trend by innovating their product offerings, such as vegan and plant-based beverages which are also expected to boost the demand for functional shots.
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of February 2021, US, Brazil, India, Russia, Spain and UK are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverage is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. However, the spread of COVID-19 served as a game-changing phenomenon for the functional shots market. A significant number of customers have been seeking immunity-boosting products amid the ongoing coronavirus pandemic, contributing to the rapid acceptance of the product. Thus, this has been one of the key drivers for the growth of the market for functional shots. These functional shots are very convenient and easy to store. These functional shots can be stored directly in cold environments, and certain functional shots can also be stored at room temperature. The convenient pricing of functional shots often drives the market.
US & LATAM Functional Shots Market
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Market Insights
Increase in Health Awareness Among Millennial Population
Functional shots are gaining popularity among individuals and athletes participating in physical fitness activities. The millennial population drives the market, showing a strong interest in sports, a tendency towards fitness, more purchasing power, and a desire to buy healthier goods. In the recent years, people have been increasingly inclined towards physical fitness, the number of health clubs and fitness centres. The rising number of fitness centres is one of the driving factors for the demand for functional shots during the forecast period. Health is a driving factor for many millennial customers when it comes to consuming soft drinks or any other drink. As a result of the highly reported backlash against sugar, consumers are becoming increasingly aware of the advantages and consequences of the products used in their beverages. This increasing awareness of health has ignited interest in functional shots that are considered to be 'good-for-you or 'better-for-you.' Further, in pursuit of a 'cleaner' lifestyle, healthier customers are searching for products that they see as 'better' than normal soft drinks, preferring alternatives that provide natural rather than artificial ingredients, as well as low-sugar or sugar-free products. Moreover, functional shots are gaining popularity among convenience-driven consumers. In order to overcome negative perceptions and address specific consumer health concerns, such as immune support or digestion, manufacturers use the healthy halo associated with natural, organic, and raw ingredients in functional beverages. This further creates a massive demand for functional shots across the US.
Product Insights
Based on product, the US & LATAM functional shots market is segmented into energy, immunity, detox, and others. The energy segment led the US & LATAM functional shots market with the highest market share in 2019. Energy drinks are known as functional drinks that have a calming effect with specific combinations of ingredients that are characterized by taurine, caffeine, vitamins, and other nutritionally or physiologically effective substances. Energy drinks are commonly marketed as energy-enhancing products that improve mental alertness and physical performance. Herbal ingredients play a significant role in the sensory assessment of energy drinks as well as the improvement of their positive health effects. Energy drinks are typically available in a broad range of varieties and are personalized to include the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. Energy drinks are the most common dietary supplement that American teenagers and young adults consume. Men between the ages of 18 and 34 consume the most energy drinks, and almost one-third of teenagers between the ages of 12 and 17 drink regularly. Thus, all these factors are expected to increase the US & LATAM functional shots market growth in the energy industry.
US & LATAM Functional Shots Market, by Product – 2019 and 2027
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US and LATAM Functional Shots Market: Strategic Insights
Market Size Value in US$ 2,309.25 Million in 2019 Market Size Value by US$ 3,465.42 Million by 2027 Growth rate CAGR of 5.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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US and LATAM Functional Shots Market: Strategic Insights
Market Size Value in | US$ 2,309.25 Million in 2019 |
Market Size Value by | US$ 3,465.42 Million by 2027 |
Growth rate | CAGR of 5.2% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystKey market players include Boise Juice Co., Ethan's, Hawaiian OLA, KOR SHOTS, Lumen, LXR Biotech, LLC., Project Juice, Sofresco USA, SUJA LIFE, LLC, and Vive-Organic, INC. Major players in the US & LATAM functional shots market are focused on strategies such as mergers and acquisitions and product launch to increase the geographical presence and consumer base in US and LATAM.
Report Spotlights
- Progressive industry trends in the US & LATAM functional shots market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the US & LATAM functional shots market from 2017 to 2027
- Estimation of the demand for US & LATAM Functional Shots across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for US & LATAM Functional Shots
- Market trends and outlook coupled with factors driving and restraining the growth of the US & LATAM functional shots market
- Decision-making process by understanding strategies that underpin commercial interest with regard to US & LATAM Functional Shots market growth
- US & LATAM functional shots market size at various nodes of market
- Detailed overview and segmentation of the US & LATAM functional shots market as well as its dynamics in the industry
- US & LATAM functional shots market size in various regions with promising growth opportunities
US & LATAM Functional Shots Market, by Product
- Energy
- Immunity
- Detox
- Others
US & LATAM Functional Shots Market, by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Online
- Others
US & LATAM Functional Shots Market, By Country
- US
- Mexico
- Peru
- Ecuador
- Colombia
- Rest of LATAM
Company Profiles
- Boise Juice Co.
- Ethan's
- Hawaiian OLA
- KOR SHOTS
- Lumen
- LXR Biotech, LLC.
- Project Juice
- Sofresco USA
- SUJA LIFE, LLC
- Vive-Organic, INC.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
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 Assumptions and Limitations:
4. LATAM Functional Shots Market Overview
4.1 LATAM: Functional Shots Market Analysis and Forecast to 2027
4.1.1 LATAM: Functional Shots Market, by Product
4.1.2 LATAM: Functional Shots Market, by Distribution Channel
4.1.3 LATAM: Functional Shots Market, by Key Country
4.1.3.1 Mexico: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.1.1 Mexico: Functional Shots Market, by Product
4.1.3.1.2 Mexico: Functional Shots Market, by Distribution Channel
4.1.3.2 Peru: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.2.1 Peru: Functional Shots Market, by Product
4.1.3.2.2 Peru: Functional Shots Market, by Distribution Channel
4.1.3.3 Ecuador: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.3.1 Ecuador: Functional Shots Market, by Product
4.1.3.3.2 Ecuador: Functional Shots Market, by Distribution Channel
4.1.3.4 Colombia: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.4.1 Colombia: Functional Shots Market, by Product
4.1.3.4.2 Colombia: Functional Shots Market, by Distribution Channel
4.1.3.5 Rest of LATAM: Functional Shots Market– Analysis and Forecast to 2027
4.1.3.5.1 Rest of LATAM: Functional Shots Market, by Product
4.1.3.5.2 Rest of LATAM: Functional Shots Market, by Distribution Channel
5. Functional Shots Market– Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Health Awareness Among Millennial Population
5.1.2 Rise in Demand for Healthy Hydration
5.2 Market Restraints
5.2.1 Challenges Related To Flavour and Fortification
5.3 Market Opportunities:
5.3.1 New Product Launches
5.4 Future Trends:
5.4.1 Growing Demand for Organic and Plant- Based Functional Shots
5.5 Impact Analysis
6. Functional Shots: Market Analysis
6.1 US & LATAM: Functional Shots Market Overview
6.2 US: Functional Shots Market Overview
6.2.1 US: Functional Shots Market, by Product
6.2.2 US: Functional Shots Market, by Distribution Channel
6.3 Market Positioning – Key Market Players
7. US & LATAM Functional Shots Market Analysis – By Product
7.1 Overview
7.2 US & LATAM Functional Shots Market, By Product (2019 and 2027)
7.3 Energy
7.3.1 Overview
7.3.2 Energy : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.4 Immunity
7.4.1 Overview
7.4.2 Immunity : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.5 Detox
7.5.1 Overview
7.5.2 Detox : US & LATAM Functional Shots Market Analysis and Forecast to 2027
7.6 Others
7.6.1 Overview
7.6.2 Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027
8. US & LATAM Functional Shots Market Analysis – By Distribution Channel
8.1 Overview
8.2 US & LATAM Functional Shots Market, By Distribution Channel (2019 and 2027)
8.3 Hypermarkets and Supermarkets
8.3.1 Overview
8.3.2 Hypermarkets and Supermarkets : US & LATAM Functional Shots Market Analysis and Forecast to 2027
8.4 Convenience Stores
8.4.1 Overview
8.4.2 Convenience Stores : US & LATAM Functional Shots Market – Market Analysis and Forecast to 2027
8.5 Online
8.5.1 Online : US & LATAM Functional Shots Market Analysis and Forecast to 2027
8.6 Others
8.6.1 Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027
9. Impact of COVID-19 Pandemic on US & LATAM Functional Shots Market
9.1 Overview
9.1.1 US & Latin America : Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Product Development
10.2 Partnership
11. Key Company Profiles
11.1 Boise Juice 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 Ethan's
11.2.1 Key Facts
11.2.2 Business Description
11.2.2.1 Products and Services
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.3 Hawaiian OLA
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
11.4 KOR SHOTS
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
11.5 Lumen
11.5.1 Key Facts
11.5.2 Business Description
11.5.2.1 Products and Services
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.6 LXR Biotech, LLC.
11.6.1 Key Facts
11.6.2 Business Description
11.6.2.1 Products and Services
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.7 Project Juice
11.7.1 Key Facts
11.7.2 Business Description
11.7.2.1 Products and Services
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.8 Sofresco USA
11.8.1 Key Facts
11.8.2 Business Description
11.8.2.1 Products and Services
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 SUJA LIFE, LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.2.1 Products and Services
11.9.3 SWOT Analysis
11.10 Vive-Organic, INC.
11.10.1 Key Facts
11.10.2 Business Description
11.10.2.1 Products and Services
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. LATAM Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 2. LATAM Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 3. LATAM Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)
Table 4. LATAM Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)
Table 5. LATAM Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)
Table 6. LATAM Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)
Table 7. Mexico Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 8. Mexico Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 9. Mexico Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 10. Mexico Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 11. Peru Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 12. Peru Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 13. Peru Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 14. Peru Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 15. Ecuador Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 16. Ecuador Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 17. Ecuador Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 18. Ecuador Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 19. Colombia Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 20. Colombia Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 21. Colombia Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 22. Colombia Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 23. Rest of LATAM Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)
Table 24. Rest of LATAM Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)
Table 25. Rest of LATAM Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)
Table 26. Rest of LATAM Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)
Table 27. US & LATAM: Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 28. US & LATAM: Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 29. US Functional Shots Market – Volume and Forecast to 2027 (Million Units)
Table 30. US Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)
Table 31. US Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)
Table 32. US Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)
Table 33. US Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)
Table 34. US Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)
Table 35. Glossary of Terms, Functional Shots Market
LIST OF FIGURES
Figure 1. Functional Shots Market Segmentation
Figure 2. Functional Shots Market Segmentation – By Geography
Figure 3. US & LATAM Functional Shots Market Overview
Figure 4. Energy Segment Held Largest Share of US & LATAM Functional Shots Market
Figure 5. US is Expected to Show Remarkable Traction During the Forecast Period
Figure 6. US & LATAM Functional Shots Market, Industry Landscape
Figure 7. LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 8. LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 9. LATAM: Functional Shots Market Revenue Share, by Key Country (2019 and 2027)
Figure 10. Mexico: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 11. Mexico: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 12. Peru: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 13. Peru: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 14. Ecuador: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 15. Ecuador: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Colombia: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 17. Colombia: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 18. Rest of LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 19. Rest of LATAM: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)
Figure 20. Impact Analysis of Drivers And Restraints
Figure 21. US & LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 22. US & LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 23. US: Functional Shots Market– Volume and Forecast to 2027 (Million Units)
Figure 24. US: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)
Figure 25. US & LATAM Functional Shots Market Revenue Share, By Product (2019 and 2027)
Figure 26. Energy : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 27. Energy : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 28. Immunity : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 29. Immunity : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 30. Detox : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 31. Detox : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 32. Others: US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)
Figure 33. Others : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 34. US & LATAM Functional Shots Market Revenue Share, By Distribution Channel (2019 and 2027)
Figure 35. Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 36. Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 37. Convenience Stores : US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)
Figure 38. Convenience Stores : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 39. Online : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 40. Online : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 41. Others: US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)
Figure 42. Others: US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 43. Impact of COVID-19 Pandemic in US & LATAM Market
The List of Companies - US & LATAM Functional Shots Market
- Boise Juice Co.
- Ethan's
- Hawaiian OLA
- KOR SHOTS
- Lumen
- LXR Biotech, LLC.
- Project Juice
- Sofresco USA
- SUJA LIFE, LLC
- Vive-Organic, INC.
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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Feb 2021
Flavor Masking Agents for Food and Beverages Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Sweet, Salt, Fat, Bitter, and Others) and Application (Bakery and Confectionery; Dairy and Frozen Desserts; Beverages; Meat, Poultry, and Seafood; Meat Substitutes; Dairy Alternatives; RTE and RTC Meals; and Others)
Feb 2021
Chicken Powder Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Low-Fat and Conventional) and Application [Food & Beverages (RTE and RTC Meals; Soups, Sauces, and Dressings; Savory Snacks; Noodles and Pastas; and Others), Dietary Supplements, Pet Food, and Animal Feed]