Non-Alcoholic Drinks Market

Non-Alcoholic Drinks Market Size by Product (Bottled Water, Carbonated Soft Drinks, RTD Tea & Coffee, Juices Others), Distribution Channel (Retail & Food Service) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13012
  • Published Date: Oct, 2022
  • Pages: 235
  • Category: Consumer Goods
  • Format: PDF
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The non-alcoholic drinks market was valued at USD 834.3 billion in 2021 and is anticipated to grow at a CAGR of 5.8% from 2022 to 2030. The rising health consciousness among consumers is the key driver for market growth. Globally most consumers are shifting towards low and non-alcoholic beverages as they want to live a healthy life and explore booze-free drinks. Thus, manufacturers are exploring this segment and launching a new version of the drinks.

According to the IWSR report, non-alcoholic beverages have outpaced low-alcoholic beverages in 2019-2020. Further, according to Bacardi Trends Report 2021, non-alcoholic drinks have been gaining more traction among consumers. These trends are expected to positively impact market growth.

The outbreak covid-19 impacted the consumption of non-alcoholic drinks as consumers, the demand for RTD coffee, tea, and bottled water variants increased but the demand for carbonated soft drinks saw a decrease as consumers were switching to functional beverages. Further, the demand for gluten-free, organic, non-GMO-certified, and probiotic-rich drinks increased during the spread of the coronavirus. After this period, manufacturers started offering various functional drinks. For instance, in March 2021 Suntory Holding Ltd. & PepsiCo together launched an RTD oolong tea in Thailand for health-conscious consumers. The product is available in two variants low sugar and no sugar.

Non-Alcoholic Drinks Market Size

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As consumers are opting for a healthier version of drinks, manufacturers such as The Coca-Cola Company and PepsiCo are focused on offering healthier drinks to consumers. For instance, AHA, a sparkling water brand of The Coca-Cola Company added two new flavors to its existing portfolio. The new flavors are Mango & Black Tea, and Raspberry & Acai. Both these are sugar & sodium free. Such product innovations will positively impact growth.

Along with product innovation and expansion, many players are acquiring and forming a partnership in this highly competitive market. For instance, in June 2023, Keurig Dr. Pepper acquired the brand Atypique from Station Agro-Biotech. Atypique's offering includes non-alcoholic ready-to-drink cocktails Similarly, in July 2021, Nestlé and Starbucks extended their partnership to offer RTD coffee in the Asia Pacific and Latin America.

Product Insights

Bottled water led the market with a share of more than 30% in 2021. Product innovation is the key factor driving the growth of this segment. Most consumers prefer bottled water in comparison to normal water when eating out of the home. As a result, many restaurants & café have started serving variants of bottled water including spring water, sparkling water, and mineral water even in developing countries like India, The Philippines, and others.

Other categories that include non-alcoholic cocktails, mocktails, beer, and spirits are expected to witness the highest growth rate during the forecast period.  The demand for these drinks is rapidly increasing among young consumers as they want to switch towards a healthy lifestyle. Many key players have launched the product in this category, which is boding well for the segment’s growth. For instance, in September 2021, AB InBev launched a non-alcoholic beer Stella Artois Liberte in the US.

The juice segment is expected to witness significant growth during the forecast period. The availability of low-calorie and no added sugar juice products in the market are driving the segment’s growth. The low-calorie juice offered by Tropicana contains 40% less sugar, thus, are low in calorie. The segment is targeted toward health-conscious consumers looking for a healthier version of beverages.

Distribution Channel Insights

Retail distribution channel led the market with a share of more than 60% in 2021. Retail distribution channels consist of supermarkets & hypermarkets, convenience stores, traditional grocery stores, and online platforms. Consumers prefer to purchase non-alcoholic drinks through retail stores as they offer a wide variety of product portfolios under a single roof. Further, these stores also offer products of their label, thus, consumer shop through these stores. However, increasing penetration of e-commerce websites across geographies and shifting preference to online shopping is driving the sale through e-commerce platforms such as Amazon, Big Basket, Drizly, and others.

The demand for non-alcoholic drinks is also increasing at food service outlets such as café, restaurants, clubs, and bars. Non-drinkers are mostly seeking non-alcoholic options at clubs & bars, which is likely to increase the demand for non-alcoholic beer & spirits. Some of the popular brands of non-alcoholic beer include Heineken, Budweiser, and others. Moreover, demand for bottled water such as sparkling water, flavored water, and low-calorie and natural juice products is expected to fuel the growth through this distribution channel.

Regional Insights

The Asia Pacific led the market with a share of more than 30% in 2021. The region is driven by increasing product penetration and changing consumer preferences in economies such as India, Australia, China, and the Philippines. Moreover, increasing production plants by the key manufacturers in this region is also expected to positively impact the growth. Increasing product launches and expansion strategies by companies like PepsiCo, and The Coca-Cola Company is likely to boost the market in this region.

For instance, in July 2022, The Coca-Cola Company launched Smartwater for fitness-focused consumers targeting consumers in the age group of 24-35 years old. In November 2021, Dole Foods introduced 100% natural pineapple juice in India in can packaging. The drink is GMO-free, gluten-free, and rich in vitamin C. It can be consumed as such or can be used to prepare cocktails and mocktails.

North America accounted for the second largest market in 2021 due to increasing demand for non-alcoholic beverages owing to the rising acceptance of the sober curious trend in the US and Canada. Consumers are frequently opting for non-alcoholic drinks that are healthier such as no in calories, gluten-free, and made from natural ingredients. The increasing sugar tax on products has also prompted manufacturers to reduce the sugar in juice, carbonated soft drinks, and others. The rising obesity level in this region has also made consumers switch to a healthier version of juice, RTD organic tea, and RTD coffee.

Key Players

The non-alcoholic drink market is competitive in nature and consists of several multinational companies. Key players are heavily investing in research & development to innovate product offerings and packaging. Consumers also pay attention to product packaging, thus, companies are emphasizing the need for sustainable product packaging.  The regional regulation imposed by the government should also be considered while introducing a product in that region.

  • The Coca Cola Company
  • Nestlé
  • Starbucks
  • PepsiCo
  • SUNTORY HOLDINGS LIMITED
  • Unilever
  • Keurig Dr Pepper Inc.
  • Capri Sun AG
  • Cott Corporation
  • Danone
  • Asahi Group Holdings, Ltd.
  • Ocean Spray
  • National Beverage Corp.
  • Gerolsteiner Brunnen GmbH & Co. KG

Segments Covered in the Report

  • Product
    • Bottled Water
    • Carbonated Soft Drinks
    • RTD Tea & Coffee
    • Juices
    • Others
  • Distribution Channel 
    • Retail
    • Hypermarkets & Supermarkets
    • Online
    • Others
    • Food Service
  • Regional
    • North America
    • US
    • Canada
    • Mexico
    • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Central & South America
    • Brazil
    • Argentina
    • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia

1. Introduction
    1.1. Objectives 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 Product Type
          4.3.2. Market Attractiveness Analysis by Distribution Channel
          4.3.3. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising health consciousness
    5.3. Restraints
          5.3.1. Price Fluctuations
    5.4. Opportunities
          5.4.1. Growing e-commerce platforms
    5.5. Challenges
          5.5.1. Economic slowdown

6. Global Non-alcoholic drinks Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Bottled water
    6.3. Carbonated Soft Drinks
    6.4. RTD Tea and Coffee
    6.5. Juices
    6.6. Others

7. Global Non-alcoholic drinks Market Analysis and Forecast, By Distribution Channel
    7.1. Segment Overview
    7.2. Retail
          7.2.1. Hypermarkets
          7.2.2. Online
          7.2.3. Others
    7.3. Food Service

8. Global Non-alcoholic drinks Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
          8.4.4. South Korea
          8.4.5. Australia
    8.5. South America
          8.5.1. Brazil
          8.5.2. Argentina
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
          8.6.3. Saudi Arabia

9. Global Non-alcoholic drinks Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Non-alcoholic drinks Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. The Coca Cola Company
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Nestlé
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Starbucks
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. PepsiCo
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. SUNTORY HOLDINGS LIMITED
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Unilever
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Keurig Dr Pepper Inc.
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Capri Sun AG
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Cott Corporation
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Danone
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Asahi Group Holdings, Ltd.
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Ocean Spray
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. National Beverage Corp.
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Gerolsteiner Brunnen GmbH & Co. KG.
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Product Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
 

List of Table

1. Global Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

2. Global Bottled water Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

3. Global Carbonated Soft Drinks Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

4. Global RTD Tea and Coffee Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

5. Global Juices Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons)

6. Global Others Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

7. Global Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

8. Global Retail Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

9. Global Food Service Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

10. Global Non-alcoholic drinks Market, By Region, 2019-2030 (USD Billion) (Tons) 

11. North America Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

12. North America Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

13. U.S. Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

14. U.S. Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

15. Canada Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

16. Canada Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

17. Mexico Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

18. Mexico Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

19. Europe Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

20. Europe Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

21. Germany Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

22. Germany Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

23. France Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

24. France Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

25. U.K. Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

26. U.K. Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

27. Italy Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

28. Italy Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

29. Spain Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

30. Spain Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

31. Asia Pacific Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

32. Asia Pacific Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

33. Japan Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

34. Japan Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

35. China Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

36. China Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

37. India Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

38. India Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

39. South Korea Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

40. South Korea Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons)

41. Australia Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

42. Australia Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons)

43. South America Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

44. South America Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

45. Brazil Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

46. Brazil Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

47. Argentina Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

48. Argentina Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons)

49. Middle East and Africa Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

50. Middle East and Africa Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

51. UAE Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

52. UAE Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

53. South Africa Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

54. South Africa Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons) 

55. Saudi Arabia Non-alcoholic drinks Market, By Product Type, 2019-2030 (USD Billion) (Tons) 

56. Saudi Arabia Non-alcoholic drinks Market, By Distribution Channel, 2019-2030 (USD Billion) (Tons)

List of Figures 

1. Global Non-alcoholic drinks Market Segmentation

2. Non-alcoholic drinks 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 Non-alcoholic drinks Market Attractiveness Analysis by Product Type

9. Global Non-alcoholic drinks Market Attractiveness Analysis by Distribution Channel

10. Global Non-alcoholic drinks Market Attractiveness Analysis by Region

11. Global Non-alcoholic drinks Market: Dynamics

12. Global Non-alcoholic drinks Market Share by Product Type (2022 & 2030)

13. Global Non-alcoholic drinks Market Share by Distribution Channel (2022 & 2030)

14. Global Non-alcoholic drinks Market Share by Regions (2022 & 2030)

15. Global Non-alcoholic drinks Market Share by Company (2021)

Segments Covered in the Report 

  • Product
    • Bottled Water
    • Carbonated Soft Drinks
    • RTD Tea & Coffee
    • Juices
    • Others
  • Distribution Channel 
    • Retail
    • Hypermarkets & Supermarkets
    • Online
    • Others
    • Food Service
  • Regional
    • North America
    • US
    • Canada
    • Mexico
    • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Central & South America
    • Brazil
    • Argentina
    • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia

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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