Perfumes Market
Perfumes Market Forecasts to 2030 - Global Analysis By Product (Mass and Premium), By Type (Parfum, Eau De Cologne (EDC), Eau De Parfum (EDP), Eau De Toilette (EDT), Other Types), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, E-Commerce and Other Distribution Channels), By End User (Men, Women and Unisex) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $54.2 BN |
|
Projected Year Value (2030) |
US $85.9 BN |
|
CAGR (2023 - 2030) |
6.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Perfumes Market is accounted for $54.2 billion in 2023 and is expected to reach $85.9 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Perfumes are fragrant liquids composed of essential oils, aroma compounds, and solvents, designed to provide a pleasant scent. They are primarily used for personal grooming and enhancing one's olfactory appeal. Perfumes offer individuals a means of expressing personal style, boosting confidence, and leaving a lasting impression, making them a popular accessory in daily life.
According to the United Nations Conference on Trade and Development (UNCTAD), the worldwide sales of e-commerce grew approximately from 16% of the total retail sales in 2019 to 19% of the total retail sales in 2020 and reached USD 26.7 trillion in 2020.
Market Dynamics:
Driver:
Increasing tradition of gifting
Perfumes are a popular and versatile choice for gifting on various occasions, including birthdays, anniversaries, and holidays. Their universal appeal and wide range of fragrances make them suitable for diverse tastes and preferences. The advantage lies in the emotional and personal nature of gifting perfumes, as they convey thoughtfulness and appreciation. Additionally, the luxurious and aspirational nature of many perfume brands makes them desirable gifts, contributing to elevated sales, brand loyalty, and the perpetuation of this cultural tradition within societies worldwide.
Restraint:
High Cost of premium fragrances
While these high-quality scents often come with a luxurious and exclusive appeal, their elevated price points limit the market's accessibility to a broader consumer demographic. As consumers become more discerning and budget-conscious, the affordability of perfumes becomes a crucial factor influencing purchasing decisions. The market, therefore, faces the challenge of balancing the creation of prestigious and unique fragrance formulations with the need to offer products at price points that align with consumer budgets. Navigating this balance is essential for perfume brands to remain competitive and appeal to a diverse customer base in an industry where both the sensory experience and cost considerations play pivotal roles in consumer choices.
Opportunity:
Innovations in fragrance technology
Advancements include the incorporation of sustainable and natural ingredients, catering to environmentally-conscious consumers seeking eco-friendly options. Breakthroughs in encapsulation technology enable long-lasting scents, enhancing the longevity of perfumes. Additionally, the development of unique delivery systems and formulations contributes to novel sensory experiences. These innovations address diverse consumer preferences and provide perfumers with creative avenues for product differentiation. Moreover, technological advancements enable the extraction and synthesis of rare or exotic fragrance elements, allowing for the creation of distinctive and premium fragrances, thereby positioning the industry at the forefront of olfactory creativity and consumer appeal.
Threat:
The prevalence of counterfeit perfumes
Counterfeit products often mimic the packaging and branding of well-known fragrance brands, deceiving consumers into purchasing substandard or potentially harmful imitations. The infiltration of fake perfumes compromises the authenticity of genuine products, leading to financial losses for legitimate manufacturers and a decline in consumer confidence. Moreover, these counterfeit items may contain inferior or unsafe ingredients, posing health risks to consumers. Combating this threat involves stringent regulatory measures, robust anti-counterfeiting technologies, and increased consumer education to distinguish genuine products from fakes.
Covid-19 Impact:
The COVID-19 pandemic has significantly impacted the perfumes market. Lockdowns, reduced social gatherings, and remote work trends led to decreased demand for traditional fragrances. However, the market adapted by emphasizing the development of home fragrances and scented products, capitalizing on increased demand for comforting and uplifting scents during lockdowns. Additionally, the rise of online sales channels became more prominent as consumers sought contactless shopping experiences. The perfume industry's resilience in adapting to changing consumer preferences and the focus on home-based scents has helped mitigate the initial challenges posed by the pandemic, marking a shift in usage patterns and market dynamics.
The supermarkets and hypermarkets segment is expected to be the largest during the forecast period
The supermarkets and hypermarkets segment is expected to have lucrative growth in the Perfumes market. Supermarkets and hypermarkets play a pivotal role in the perfumes market by providing a convenient and accessible retail environment for consumers. These large-scale retail outlets offer a diverse range of perfume brands and variants, catering to different consumer preferences. The presence of perfumes in supermarkets and hypermarkets enhances visibility and encourages impulse purchases.
The unisex segment is expected to have the highest CAGR during the forecast period
The unisex segment is anticipated to witness the fastest CAGR growth during the forecast period. The emergence of unisex fragrances in the perfumes market reflects a contemporary trend toward inclusivity and gender-neutral personal care. Unisex perfumes are designed to appeal to individuals of all genders, challenging traditional notions of scent categorization. These versatile fragrances often feature a harmonious blend of notes that transcend gender boundaries, providing a unique olfactory experience for a diverse consumer base. The rise of unisex perfumes aligns with changing societal attitudes towards gender expression, offering consumers the freedom to choose scents based on personal preference rather than predefined gender norms, thereby contributing to a more inclusive and diverse landscape within the perfume industry.
Region with largest share:
During the forecast period, it is expected that the North American market will continue to hold a majority of the market share, driven by a combination of affluent consumer demographics and a culture that places a premium on personal grooming. The region's market is characterized by a diverse range of consumer preferences, ranging from designer and luxury fragrances to a growing interest in natural and niche scents. Continuous innovation, celebrity endorsements, and strategic marketing campaigns contribute to the market's dynamism. The well-established presence of key industry players, coupled with a robust retail infrastructure and online sales channels, solidifies North America's role as a major influence in the global perfumes market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, fuelled by a burgeoning population, increasing disposable incomes, and a growing awareness of personal grooming. The region witnesses a rising demand for both international luxury brands and locally crafted fragrances, reflecting diverse consumer preferences. The influence of celebrity endorsements and the expansion of retail networks contribute to the market's vibrancy. Furthermore, the shift toward e-commerce platforms enhances accessibility, allowing consumers to explore a wide array of fragrances. With evolving lifestyles and a cultural inclination towards beauty and self-care, Asia Pacific plays a pivotal role in shaping the trajectory of the global perfumes market.
Key players in the market
Some of the key players in Perfumes market include Amorepacific Corporation, L'Oréal S.A., LVMH Moët Hennessy - Louis Vuitton, Beiersdorf AG, Calvin Klein Inc., Coty Inc., Giorgio Armani S.p.A., Guccio Gucci S.p.A., Natura & Co., Yardley London, The Estee Lauder Companies Inc., Revlon Inc., The Procter and Gamble Co. and Shiseido Company Limited.
Key Developments:
In March 2023, The Estee Lauder Companies Inc. introduced Beautiful Magnolia L'Eau, a new fragrance for women. The newly launched product will increase the company's product depth and enhance the profit margin.
In December 2022, L’Oréal S.A. relaunched its luxury beauty brand Lancôme in India. The company will retail make-up, fragrances, and skincare products under the Lancôme brand in India.
In September 2022, Givaudan announced its collaboration with LanzaTech to develop fragrance ingredients that are sustainable using renewable carbon.
Products Covered:
• Mass
• Premium
Types Covered:
• Parfum
• Eau De Cologne (EDC)
• Eau De Parfum (EDP)
• Eau De Toilette (EDT)
• Other Types
Distribution Channels Covered:
• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• E-Commerce
• Other Distribution Channels
End Users Covered:
• Men
• Women
• Unisex
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Perfumes Market, By Product
5.1 Introduction
5.2 Mass
5.3 Premium
6 Global Perfumes Market, By Type
6.1 Introduction
6.2 Parfum
6.3 Eau De Cologne (EDC)
6.4 Eau De Parfum (EDP)
6.5 Eau De Toilette (EDT)
6.6 Other Types
7 Global Perfumes Market, By Distribution Channel
7.1 Introduction
7.2 Supermarkets and Hypermarkets
7.3 Convenience Stores
7.4 Specialty Stores
7.5 E-Commerce
7.6 Other Distribution Channels
8 Global Perfumes Market, By End User
8.1 Introduction
8.2 Men
8.3 Women
8.4 Unisex
9 Global Perfumes Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Amorepacific Corporation
11.2 L'Oréal S.A.
11.3 LVMH Moët Hennessy - Louis Vuitton
11.4 Beiersdorf AG
11.5 Calvin Klein Inc.
11.6 Coty Inc.
11.7 Giorgio Armani S.p.A.
11.8 Guccio Gucci S.p.A.
11.9 Natura & Co.
11.10 Yardley London
11.11 The Estee Lauder Companies Inc.
11.12 Revlon Inc.
11.13 The Procter and Gamble Co.
11.14 Shiseido Company Limited
List of Tables
1 Global Perfumes Market Outlook, By Region (2021-2030) ($MN)
2 Global Perfumes Market Outlook, By Product (2021-2030) ($MN)
3 Global Perfumes Market Outlook, By Mass (2021-2030) ($MN)
4 Global Perfumes Market Outlook, By Premium (2021-2030) ($MN)
5 Global Perfumes Market Outlook, By Type (2021-2030) ($MN)
6 Global Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
7 Global Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
8 Global Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
9 Global Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
10 Global Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
11 Global Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
12 Global Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
13 Global Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
14 Global Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
15 Global Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
16 Global Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
17 Global Perfumes Market Outlook, By End User (2021-2030) ($MN)
18 Global Perfumes Market Outlook, By Men (2021-2030) ($MN)
19 Global Perfumes Market Outlook, By Women (2021-2030) ($MN)
20 Global Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
21 North America Perfumes Market Outlook, By Country (2021-2030) ($MN)
22 North America Perfumes Market Outlook, By Product (2021-2030) ($MN)
23 North America Perfumes Market Outlook, By Mass (2021-2030) ($MN)
24 North America Perfumes Market Outlook, By Premium (2021-2030) ($MN)
25 North America Perfumes Market Outlook, By Type (2021-2030) ($MN)
26 North America Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
27 North America Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
28 North America Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
29 North America Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
30 North America Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
31 North America Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
32 North America Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
33 North America Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
34 North America Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
35 North America Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
36 North America Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
37 North America Perfumes Market Outlook, By End User (2021-2030) ($MN)
38 North America Perfumes Market Outlook, By Men (2021-2030) ($MN)
39 North America Perfumes Market Outlook, By Women (2021-2030) ($MN)
40 North America Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
41 Europe Perfumes Market Outlook, By Country (2021-2030) ($MN)
42 Europe Perfumes Market Outlook, By Product (2021-2030) ($MN)
43 Europe Perfumes Market Outlook, By Mass (2021-2030) ($MN)
44 Europe Perfumes Market Outlook, By Premium (2021-2030) ($MN)
45 Europe Perfumes Market Outlook, By Type (2021-2030) ($MN)
46 Europe Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
47 Europe Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
48 Europe Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
49 Europe Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
50 Europe Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
51 Europe Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
52 Europe Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
53 Europe Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
54 Europe Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
55 Europe Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
56 Europe Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
57 Europe Perfumes Market Outlook, By End User (2021-2030) ($MN)
58 Europe Perfumes Market Outlook, By Men (2021-2030) ($MN)
59 Europe Perfumes Market Outlook, By Women (2021-2030) ($MN)
60 Europe Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
61 Asia Pacific Perfumes Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Perfumes Market Outlook, By Product (2021-2030) ($MN)
63 Asia Pacific Perfumes Market Outlook, By Mass (2021-2030) ($MN)
64 Asia Pacific Perfumes Market Outlook, By Premium (2021-2030) ($MN)
65 Asia Pacific Perfumes Market Outlook, By Type (2021-2030) ($MN)
66 Asia Pacific Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
67 Asia Pacific Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
68 Asia Pacific Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
69 Asia Pacific Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
70 Asia Pacific Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
71 Asia Pacific Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
72 Asia Pacific Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
73 Asia Pacific Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
74 Asia Pacific Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
75 Asia Pacific Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
76 Asia Pacific Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
77 Asia Pacific Perfumes Market Outlook, By End User (2021-2030) ($MN)
78 Asia Pacific Perfumes Market Outlook, By Men (2021-2030) ($MN)
79 Asia Pacific Perfumes Market Outlook, By Women (2021-2030) ($MN)
80 Asia Pacific Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
81 South America Perfumes Market Outlook, By Country (2021-2030) ($MN)
82 South America Perfumes Market Outlook, By Product (2021-2030) ($MN)
83 South America Perfumes Market Outlook, By Mass (2021-2030) ($MN)
84 South America Perfumes Market Outlook, By Premium (2021-2030) ($MN)
85 South America Perfumes Market Outlook, By Type (2021-2030) ($MN)
86 South America Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
87 South America Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
88 South America Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
89 South America Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
90 South America Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
91 South America Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
92 South America Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
93 South America Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
94 South America Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
95 South America Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
96 South America Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
97 South America Perfumes Market Outlook, By End User (2021-2030) ($MN)
98 South America Perfumes Market Outlook, By Men (2021-2030) ($MN)
99 South America Perfumes Market Outlook, By Women (2021-2030) ($MN)
100 South America Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
101 Middle East & Africa Perfumes Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Perfumes Market Outlook, By Product (2021-2030) ($MN)
103 Middle East & Africa Perfumes Market Outlook, By Mass (2021-2030) ($MN)
104 Middle East & Africa Perfumes Market Outlook, By Premium (2021-2030) ($MN)
105 Middle East & Africa Perfumes Market Outlook, By Type (2021-2030) ($MN)
106 Middle East & Africa Perfumes Market Outlook, By Parfum (2021-2030) ($MN)
107 Middle East & Africa Perfumes Market Outlook, By Eau De Cologne (EDC) (2021-2030) ($MN)
108 Middle East & Africa Perfumes Market Outlook, By Eau De Parfum (EDP) (2021-2030) ($MN)
109 Middle East & Africa Perfumes Market Outlook, By Eau De Toilette (EDT) (2021-2030) ($MN)
110 Middle East & Africa Perfumes Market Outlook, By Other Types (2021-2030) ($MN)
111 Middle East & Africa Perfumes Market Outlook, By Distribution Channel (2021-2030) ($MN)
112 Middle East & Africa Perfumes Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
113 Middle East & Africa Perfumes Market Outlook, By Convenience Stores (2021-2030) ($MN)
114 Middle East & Africa Perfumes Market Outlook, By Specialty Stores (2021-2030) ($MN)
115 Middle East & Africa Perfumes Market Outlook, By E-Commerce (2021-2030) ($MN)
116 Middle East & Africa Perfumes Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
117 Middle East & Africa Perfumes Market Outlook, By End User (2021-2030) ($MN)
118 Middle East & Africa Perfumes Market Outlook, By Men (2021-2030) ($MN)
119 Middle East & Africa Perfumes Market Outlook, By Women (2021-2030) ($MN)
120 Middle East & Africa Perfumes Market Outlook, By Unisex (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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