Coconut Water Market

Coconut Water Market Size by Form (Liquid, Powder), Packaging (Plastic Bottle, Tetra Pack, Others), Distribution Channel (Offline, Online), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13380
  • Published Date: Mar, 2023
  • Pages: 237
  • Category: Food & Beverages
  • Format: PDF
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The global coconut water market was valued at USD 5.73 billion in 2022 and growing at a CAGR of 14.83% from 2023 to 2032. The market is expected to reach USD 22.84 billion by 2032. Asia-Pacific is expected to increase the fastest during the forecast period.

Market Introduction:

Within green coconuts, there is a clear liquid called coconut water. It tastes sweet and nutty and has simple sugars, natural electrolytes, and readily digestible carbs. It is popularly drunk as a hydrating, low-calorie beverage rich in potassium, salt, manganese, calcium, and magnesium. Furthermore, it contains cytokines and phytohormones, which have a variety of anti-ageing, anti-cancer, and antithrombotic characteristics. Coconuts are typically collected for their coconut water when they are about 5-7 months old, and each coconut yields 200–1000 ml of coconut water. Compared to other natural juices and sports beverages, coconut water provides enhanced hydration with fewer calories and is a fat-free, plant-based beverage packed with nutrients, minerals, and electrolytes. The multipurpose coconut has numerous health advantages. To maintain a healthy lifestyle, customers have been adopting a variety of nutritious and energy beverages over the past few years. In almost all age groups, from children to the working class, the excessive intake of carbonated and sugary drinks contributes to several health problems, including obesity, cardiovascular illnesses, and diabetes. Because it is known to be helpful for all of the diseases mentioned above, particularly for weight control, pure coconut water is a substitute for carbonated beverages. Customers are proactively interested in fitness and wellness. Natural energy drink substitutes for caffeinated and sugar-based energy drinks have become increasingly popular among active and health-conscious consumers. Low in calories and lipids, coconut water also has minimal levels of sugar. It has a lot of antioxidants and healing effects. Blood pressure levels, kidney function, and cardiovascular health are all maintained by coconut water. It assists in managing diabetes as well. As a result of its nutritional qualities, including its electrolytes and nutrients, the demand for pure coconut water as a natural sports drink is rising quickly. One of the main factors propelling the market's expansion is the general public's growing awareness of health issues. Coconut water is becoming increasingly popular among consumers as a treatment for numerous metabolic disorders and other illnesses, including diabetes, obesity, kidney stones, liver damage, hypertension, and impaired digestion, due to the rising prevalence of lifestyle diseases. Also, retailers sell packaged coconut water enhanced nutritionally by adding various organic additives, including fruits, ginger, turmeric, and other natural substances. These items are gaining popularity among athletes and fitness fanatics, helping the market expand. The expanding food and beverage industry are also supporting the market expansion. Coconut water mix and concentrates have become more frequently used in creative recipes due to the increasing café culture and the increase in quick-service restaurants (QSRs). In the coming years, the market is expected to be influenced by several other factors, including government attempts to promote coconut farming and sizable expenditures to expand coconut cultivation, particularly in nations like the Philippines. Major producers are gradually integrating coconut water into the typical healthy hydration category because it enhances immunity to capitalize on the market opportunity. Also, vegan customers prefer coconut water because of its vegan properties. Coconut water is one of the most popular plant-based beverages due to its natural composition and little processing, as coconut can be consumed independently without additional ingredients.

Coconut Water Market Size

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Market Dynamics:

Drivers

Rising consumer awareness regarding health and nutrition- Consumers' growing interest in health and wellbeing is one of the major factors propelling the market's growth. Healthy beverages like coconut water consumption are rising in western nations like the US and Germany due to consumers' growing interest in wellness and health products. Also, the increased consumer knowledge of the multiple health benefits of coconut water in enhancing digestion, lowering blood pressure, and maintaining hydration levels is fueling market expansion. Additional critical drivers of the market's growth include the rising frequency of lifestyle illnesses, increased demand for energy and hydration beverages, an increase in the number of people in their old age, fast urbanization, and rising average temperatures around the world.

Opportunities:

Increasing popularity of natural and plant-based drinks- The market is anticipated to expand quickly during the forecast period due to the expanding popularity of natural and plant-based beverages, the rising number of fitness and health clubs, and increased government measures to support coconut farming. Plant-based diets are getting increasingly popular worldwide due to consumers' growing health consciousness and desire for healthier products. Cereal, nut, and coconut-based drinks are some of the most popular substitutes for dairy beverages. In addition to lowering sugar consumption, coconut water increases the end product's nutritional content. This is why it is utilized as an ingredient in plant-based beverages. The use of coconut water is being encouraged by the market expansion for plant-based beverages.

Challenges:

Preservation issues and weak supply chain- The preservation of tender coconut water, the increasing distance between the two ends of the supply chain, and some coconut water brands' deceptive tactics are all challenges to the market's expansion. Coconut water is a natural beverage that is pleasant, low in calories and fat, and high in vitamins, minerals, and healthy phytohormones. Tender coconut water's nutritional and medicinal benefits have led to a surge in demand and consumption across the globe. Processing and preservation are currently of utmost importance to meet the year-round global market for coconut water. The most significant obstacle to preserving delicate coconut water is the possibility that the water's medicinal and nutritional benefits would be lost during processing.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. South America emerged as the highest in the global coconut water market, with a share of 26.94% in 2022. In Brazil and other nearby nations, coconut water is consumed regularly. Due to the high demand, the product has become readily available in practically all stores. The beverage is mainly used for hangover relief and is healthy and nutritious. Agua de coco is one of the most well-known beverages created with coconut water and is considered beneficial for preventing hangovers.

South America Region Coconut Water Market Share in 2022 - 26.94%

 

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Form Segment Analysis

The form segment is divided into liquid and powder. The liquid segment had the highest market share of 85.48% in 2022 in the coconut water market. As they are ready for consumption and portable, most producers in the market offer their products in liquid form. Protein & Coconut, a line of coconut water that comes in three flavours—toasted coconut, chocolate, and vanilla spice—was introduced by Harmless Harvest in September 2019. It includes coconut and a protein blend of peas, pumpkin, and sunflower. Because it is complete and high in energy, the creamy drink is regarded as a perfect snack.

Packaging Segment Analysis

The packaging segment is divided into plastic bottle, tetra pack, and others. The tetra pack segment had the highest market share of 36.53% in 2022 in the coconut water market. The packaging gives the liquid it contains a long shelf life, which helps prevent microbial and bacterial contamination of the substance. For months, it keeps the product safe. The tetra pack has several layers. Each layer is constructed from various materials, such as aluminium, paperboard manufactured from wood, and polyethylene, a type of polymer. Choosing the right component assists in maintaining the box lightweight.

Distribution Channel Segment Analysis

The distribution channel segment is divided into offline and online. The offline segment had the highest market share of 82.03% in 2022 in the coconut water market. These shops provide a variety of commodities and can serve as a one-stop location for all daily shopping needs. As a result, people choose to shop at these places when they need to buy food for everyday use. In addition, the cost of running the business and selling overhead expenses is relatively minimal.

Some of the Key Market Players:
  • Celebes Coconut Corporation
  • Naked Juice Company
  • Vaivai SAS
  • C2O Pure Coconut Water, LLC
  • The Coca-Cola Company (ZICO)
  • COCOZIA
  • All Market Inc.
  • Elegance Brands, Inc.
  • Harmless Harvest
  • New Age Beverages Corporation
  • PepsiCo (O.N.E. Coconut Water)

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022  USD 5.73 Billion
Market size value in 2032  USD 22.84 Billion
CAGR (2023 to 2032)  14.83%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments  The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments  Form, Packaging, Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the coconut water market was valued at USD 5.73 billion in 2022 & USD 22.84 billion by 2032.

Global coconut water market is growing at a CAGR of 14.83% during the forecast period 2023-2032.

South America region emerged as the largest market for the coconut water.

Rising consumer awareness regarding health and nutrition is a significant driving factor for the growth of the coconut water market.

Increasing popularity of natural and plant-based drinks is a significant opportunity for the growth of the coconut water market.

Preservation issues and weak supply chain is a significant challenge for the growth of the coconut water market.

1. Introduction
    1.1. Objective of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Form
          4.3.2. Market Attractiveness Analysis By Packaging
          4.3.3. Market Attractiveness Analysis By Distribution Channel
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising consumer awareness regarding health and nutrition
    5.3. Opportunities
          5.3.1. Increasing popularity of natural and plant-based drinks
    5.4. Challenges
          5.4.1. Preservation issues and weak supply chain

6. Global Coconut Water Market Analysis and Forecast, By Form
    6.1. Segment Overview
    6.2. Liquid
    6.3. Powder

7. Global Coconut Water Market Analysis and Forecast, By Packaging
    7.1. Segment Overview
    7.2. Plastic Bottle
    7.3. Tetra Pack
    7.4. Others

8. Global Coconut Water Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Offline
    8.3. Online

9. Global Coconut Water Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Coconut Water Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Coconut Water Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Celebes Coconut Corporation
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Naked Juice Company
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Vaivai SAS
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. C2O Pure Coconut Water, LLC
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. The Coca-Cola Company (ZICO)
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. COCOZIA
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. All Market Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Elegance Brands, Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Harmless Harvest
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. New Age Beverages Corporation
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. PepsiCo (O.N.E. Coconut Water)
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis

List of Table

1. Global Coconut Water Market, By Form, 2019-2032 (USD Billion) 

2. Global Liquid, Coconut Water Market, By Region, 2019-2032 (USD Billion) 

3. Global Powder, Coconut Water Market, By Region, 2019-2032 (USD Billion)

4. Global Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

5. Global Plastic Bottle, Coconut Water Market, By Region, 2019-2032 (USD Billion) 

6. Global Tetra Pack, Coconut Water Market, By Region, 2019-2032 (USD Billion)

7. Global Others, Coconut Water Market, By Region, 2019-2032 (USD Billion)

8. Global Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion) 

9. Global Offline, Coconut Water Market, By Region, 2019-2032 (USD Billion) 

10. Global Online, Coconut Water Market, By Region, 2019-2032 (USD Billion)

11. Global Coconut Water Market, By Region, 2019-2032 (USD Billion) 

12. North America Coconut Water Market, By Form, 2019-2032 (USD Billion) 

13. North America Coconut Water Market, By Packaging, 2019-2032 (USD Billion)

14. North America Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion) 

15. U.S. Coconut Water Market, By Form, 2019-2032 (USD Billion) 

16. U.S. Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

17. U.S. Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

18. Canada Coconut Water Market, By Form, 2019-2032 (USD Billion) 

19. Canada Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

20. Canada Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

21. Mexico Coconut Water Market, By Form, 2019-2032 (USD Billion) 

22. Mexico Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

23. Mexico Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

24. Europe Coconut Water Market, By Form, 2019-2032 (USD Billion) 

25. Europe Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

26. Europe Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

27. Germany Coconut Water Market, By Form, 2019-2032 (USD Billion) 

28. Germany Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

29. Germany Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

30. France Coconut Water Market, By Form, 2019-2032 (USD Billion) 

31. France Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

32. France Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

33. U.K. Coconut Water Market, By Form, 2019-2032 (USD Billion) 

34. U.K. Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

35. U.K. Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

36. Italy Coconut Water Market, By Form, 2019-2032 (USD Billion) 

37. Italy Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

38. Italy Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

39. Spain Coconut Water Market, By Form, 2019-2032 (USD Billion) 

40. Spain Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

41. Spain Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

42. Asia Pacific Coconut Water Market, By Form, 2019-2032 (USD Billion) 

43. Asia Pacific Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

44. Asia Pacific Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

45. Japan Coconut Water Market, By Form, 2019-2032 (USD Billion) 

46. Japan Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

47. Japan Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

48. China Coconut Water Market, By Form, 2019-2032 (USD Billion) 

49. China Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

50. China Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

51. India Coconut Water Market, By Form, 2019-2032 (USD Billion) 

52. India Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

53. India Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

54. South America Coconut Water Market, By Form, 2019-2032 (USD Billion) 

55. South America Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

56. South America Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

57. Brazil Coconut Water Market, By Form, 2019-2032 (USD Billion) 

58. Brazil Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

59. Brazil Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

60. Middle East and Africa Coconut Water Market, By Form, 2019-2032 (USD Billion) 

61. Middle East and Africa Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

62. Middle East and Africa Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

63. UAE Coconut Water Market, By Form, 2019-2032 (USD Billion) 

64. UAE Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

65. UAE Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

66. South Africa Coconut Water Market, By Form, 2019-2032 (USD Billion) 

67. South Africa Coconut Water Market, By Packaging, 2019-2032 (USD Billion) 

68. South Africa Coconut Water Market, By Distribution Channel, 2019-2032 (USD Billion)

List of Figures 

1. Global Coconut Water Market Segmentation

2. Coconut Water Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Coconut Water Market Attractiveness Analysis By Form

9. Global Coconut Water Market Attractiveness Analysis By Packaging

10. Global Coconut Water Market Attractiveness Analysis By Distribution Channel

11. Global Coconut Water Market Attractiveness Analysis By Region

12. Global Coconut Water Market: Dynamics

13. Global Coconut Water Market Share by Form (2023 & 2032)

14. Global Coconut Water Market Share by Packaging (2023 & 2032)

15. Global Coconut Water Market Share by Distribution Channel (2023 & 2032)

16. Global Coconut Water Market Share by Regions (2023 & 2032)

17. Global Coconut Water Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global coconut water market based on below mentioned segments:

Global Coconut Water by Form:

  • Liquid
  • Powder

Global Coconut Water by Packaging:

  • Plastic Bottle
  • Tetra Pack
  • Others

Global Coconut Water by Distribution Channel:

  • Offline
  • Online

Global Coconut Water by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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