Kimchi Market by Distribution Channel, Product, and Geography - Forecast and Analysis 2023-2027

Published: Oct 2023

Pages: 159

SKU: IRTNTR40735

Snapshot

Kimchi Market Analysis Report 2023-2027

The kimchi market size is estimated to grow at a CAGR of 5.49% between 2022 and 2027. The market size is forecast to increase by USD 1,215.96 million. The growth of the market depends on several factors, including product launches, health benefits offered by kimchi, and initiatives for the development of the kimchi industry. Vendors are focusing on introducing new kimchi variations to expand their product lines. In this way, they seek to increase their market share and gain a competitive advantage in the market. Some vendors are trying to develop new kimchi variations with additional ingredients to provide consumers with health benefits. For example, in February 2021 Pulmuone launched a 100% plant-based kimchi under the Nasoya brand that is cholesterol-free, vegan, and free of artificial flavors and preservatives. This product has a mild and tangy taste and can be used in recipes such as hot dogs, pizza, salads, sandwiches, and salads. Therefore, the increased availability of new kimchi variations will drive customer purchases, driving the growth momentum of the global kimchi market during the forecast period.

This kimchi market report extensively covers market segmentation by distribution channel (offline and online), product (conventional kimchi and organic kimchi), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

Kimchi Market Overview

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Market Trends

The growing demand for plant-based diets is identified as the key trend in the market. Plant-based diets are growing in popularity around the world as consumers' appetite for healthy eating increases. Factors driving consumers to switch to plant-based diets include the health risks associated with meat consumption and the growing importance of animal welfare. In addition, product recalls of packaged meat products are frequent due to the presence of bacteria and undeclared ingredients.

In contrast, plant-based foods contain important nutrients such as fiber, antioxidants, magnesium, folic acid, potassium, beneficial plant compounds, and vitamins. In addition, countries such as the United States, the United Arab Emirates, and the United Kingdom have growing obese populations, leading to a shift to plant-based diets to avoid health problems. Thus, increasing obesity and the shift toward plant-based nutrition will positively influence the growth of the market.

Market Challenge

Product recalls may impede the growth of the market during the forecast period. Kimchi manufacturers around the world source ingredients such as cabbage, radishes, onions, chili peppers, garlic, and ginger from third-party suppliers. Improper handling of these raw materials can adversely affect the quality of kimchi. Food regulators and compliance agencies can shut down stores or withdraw kimchi products from the market if they pose a risk to consumer welfare.

Product recalls can damage a vendor's brand reputation with consumers. Containing allergens or ingredients outside the regulatory jurisdiction is one of the reasons for the recall. For example, in July 2021, the Food and Drug Administration (FDA) announced a recall of cabbage kimchi due to possible Listeria contamination. Therefore, the possible occurrence of product recalls worldwide for any reason may deter consumers from purchasing the products, which may hinder the growth potential of the global kimchi market during the forecast period.

What is the Fastest-Growing Segment in the Kimchi Market?

The market share growth by the offline segment will be significant during the forecast period. Offline distribution channels include physical stores such as supermarkets, hypermarkets, convenience stores, and specialty stores. Through these channels, customers can actually inspect and purchase kimchi products.

The offline segment was valued at USD 3,148.28 million in 2017.

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Due to the perishability of the product and consumer preference to check the product before purchase, offline channels are still the dominant distribution channel for kimchi. Overall, the offline sales channel remains the main distribution channel for kimchi products, which is expected to drive the growth of the segment during the forecast period.

Which are the Key Regions for the Kimchi Market?

APAC is estimated to contribute 81% to the growth of the global market during the forecast period.

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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region has become an important market for kimchi due to its cultural ties to South Korea and the growing popularity of kimchi as a healthy and delicious food.

South Korea is the world's largest producer and exporter of kimchi, as well as a major consumer of kimchi. There is also a strong demand for kimchi in other countries in the APAC region, such as Japan, China, and Taiwan, and major suppliers of kimchi in the region include CJ CheilJedang, Daesang, Dongwon F&B, Elaia Holdings, and Plum One. Overall, the APAC region's kimchi market is expected to continue growing during the forecast period, owing to factors such as increasing demand for healthy and natural foods and the increasing popularity of Korean cuisine.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 pandemic significantly impacted food and beverage production, processing, and distribution in the region. The global food supply chain was disrupted by the economic impact of lockdowns and restrictions in various countries. In addition, the number of people infected with the new coronavirus infection increased in 2020, which led to the temporary closure of kimchi processing and packaging factories. These factors temporarily hindered the regional kimchi market growth in 2020. With the lifting of lockdowns, the reopening of businesses, and the commencement of phased vaccinations, the region's market started to grow. In addition, factors such as increasing demand for nutritious foods have boosted the demand for kimchi in the region. Furthermore, growing consumer awareness of the health benefits of kimchi is expected to drive the growth of the focus market during the forecast period.

Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Kimchi Market Customer Landscape

Who are the Major Kimchi Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Chois Kimchi LLC: The company offers kimchi solutions such as canned kimchi tuna, kimchi ramyun noodle soup, and oolongmen kimchi cup.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The kimchi market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

Distribution Channel Outlook (USD Million, 2017 - 2027)
- Offline
- Online

Product Outlook (USD Million, 2017 - 2027)
- Conventional kimchi
- Organic kimchi

Region Outlook (USD Million, 2017 - 2027)
- North America
  - The U.S.
  - Canada
- Europe
  - The U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa
- South America
  - Argentina
  - Brazil
  - Chile

Parent Market Analysis

Technavio categorizes the global kimchi market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.

Kimchi Market Scope
Report Coverage	Details
Page number	159
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.49%
Market growth 2023-2027	USD 1,215.96 million
Market structure	Fragmented
YoY growth 2022-2023(%)	4.5
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 81%
Key countries	US, South Korea, Japan, China, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Bombucha, Chois Kimchi LLC, CJ CheilJedang Corp., Cosmos Food Co. Inc., Daesang Corp., Dongwon Group, Eden Foods Inc., Gold Mine Natural Food Co., Kehoes Kitchen Pty Ltd., Kimchi Club Pty Ltd., Kings Asian Gourmet, Lucky Foods, MILKimchi Inc., Pulmuone Foods USA, Real Pickles, Sinto Gourmet LLC, Sunjas Oriental Foods Inc., T BROTHERS FOOD and TRADING LTD., Tazaki Foods Ltd., and VOLCANO KIMCHI
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Kimchi Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the size of the market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market industry across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this market research report to meet your requirements.

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global kimchi market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global kimchi market 2017 - 2021 ($ million)

4.2 Distribution Channel Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

4.3 Product Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

6.1 Market segments
- Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

6.2 Comparison by Distribution Channel
- Exhibit 32: Chart on Comparison by Distribution Channel
- Exhibit 33: Data Table on Comparison by Distribution Channel

6.3 Offline - Market size and forecast 2022-2027
- Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

6.4 Online - Market size and forecast 2022-2027
- Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Distribution Channel
- Exhibit 42: Market opportunity by Distribution Channel ($ million)
- Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

7.1 Market segments
- Exhibit 44: Chart on Product - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product
- Exhibit 46: Chart on Comparison by Product
- Exhibit 47: Data Table on Comparison by Product

7.3 Conventional kimchi - Market size and forecast 2022-2027
- Exhibit 48: Chart on Conventional kimchi - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Conventional kimchi - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Conventional kimchi - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Conventional kimchi - Year-over-year growth 2022-2027 (%)

7.4 Organic kimchi - Market size and forecast 2022-2027
- Exhibit 52: Chart on Organic kimchi - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Organic kimchi - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Organic kimchi - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Organic kimchi - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Product
- Exhibit 56: Market opportunity by Product ($ million)
- Exhibit 57: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027
- Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.5 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.7 South America - Market size and forecast 2022-2027
- Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.8 South Korea - Market size and forecast 2022-2027
- Exhibit 83: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on South Korea - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

9.9 Japan - Market size and forecast 2022-2027
- Exhibit 87: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.10 China - Market size and forecast 2022-2027
- Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

9.11 US - Market size and forecast 2022-2027
- Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

9.12 UK - Market size and forecast 2022-2027
- Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption

11.4 Industry risks
- Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 109: Vendors covered

12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification

12.3 Chois Kimchi LLC
- Exhibit 111: Chois Kimchi LLC - Overview
- Exhibit 112: Chois Kimchi LLC - Product / Service
- Exhibit 113: Chois Kimchi LLC - Key offerings

12.4 CJ CheilJedang Corp.
- Exhibit 114: CJ CheilJedang Corp. - Overview
- Exhibit 115: CJ CheilJedang Corp. - Business segments
- Exhibit 116: CJ CheilJedang Corp. - Key offerings
- Exhibit 117: CJ CheilJedang Corp. - Segment focus

12.5 Cosmos Food Co. Inc.
- Exhibit 118: Cosmos Food Co. Inc. - Overview
- Exhibit 119: Cosmos Food Co. Inc. - Product / Service
- Exhibit 120: Cosmos Food Co. Inc. - Key offerings

12.6 Daesang Corp.
- Exhibit 121: Daesang Corp. - Overview
- Exhibit 122: Daesang Corp. - Product / Service
- Exhibit 123: Daesang Corp. - Key offerings

12.7 Eden Foods Inc.
- Exhibit 124: Eden Foods Inc. - Overview
- Exhibit 125: Eden Foods Inc. - Product / Service
- Exhibit 126: Eden Foods Inc. - Key offerings

12.8 Gold Mine Natural Food Co.
- Exhibit 127: Gold Mine Natural Food Co. - Overview
- Exhibit 128: Gold Mine Natural Food Co. - Product / Service
- Exhibit 129: Gold Mine Natural Food Co. - Key offerings

12.9 Kehoes Kitchen Pty Ltd.
- Exhibit 130: Kehoes Kitchen Pty Ltd. - Overview
- Exhibit 131: Kehoes Kitchen Pty Ltd. - Product / Service
- Exhibit 132: Kehoes Kitchen Pty Ltd. - Key offerings

12.10 Kimchi Club Pty Ltd.
- Exhibit 133: Kimchi Club Pty Ltd. - Overview
- Exhibit 134: Kimchi Club Pty Ltd. - Product / Service
- Exhibit 135: Kimchi Club Pty Ltd. - Key offerings

12.11 Kings Asian Gourmet
- Exhibit 136: Kings Asian Gourmet - Overview
- Exhibit 137: Kings Asian Gourmet - Product / Service
- Exhibit 138: Kings Asian Gourmet - Key offerings

12.12 MILKimchi Inc.
- Exhibit 139: MILKimchi Inc. - Overview
- Exhibit 140: MILKimchi Inc. - Product / Service
- Exhibit 141: MILKimchi Inc. - Key offerings

12.13 Pulmuone Foods USA
- Exhibit 142: Pulmuone Foods USA - Overview
- Exhibit 143: Pulmuone Foods USA - Product / Service
- Exhibit 144: Pulmuone Foods USA - Key offerings

12.14 Real Pickles
- Exhibit 145: Real Pickles - Overview
- Exhibit 146: Real Pickles - Product / Service
- Exhibit 147: Real Pickles - Key offerings

12.15 Sinto Gourmet LLC
- Exhibit 148: Sinto Gourmet LLC - Overview
- Exhibit 149: Sinto Gourmet LLC - Product / Service
- Exhibit 150: Sinto Gourmet LLC - Key offerings

12.16 T BROTHERS FOOD and TRADING LTD.
- Exhibit 151: T BROTHERS FOOD and TRADING LTD. - Overview
- Exhibit 152: T BROTHERS FOOD and TRADING LTD. - Product / Service
- Exhibit 153: T BROTHERS FOOD and TRADING LTD. - Key offerings

12.17 Tazaki Foods Ltd.
- Exhibit 154: Tazaki Foods Ltd. - Overview
- Exhibit 155: Tazaki Foods Ltd. - Product / Service
- Exhibit 156: Tazaki Foods Ltd. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 157: Inclusions checklist
- Exhibit 158: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 159: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 160: Research methodology
- Exhibit 161: Validation techniques employed for market sizing
- Exhibit 162: Information sources

13.5 List of abbreviations
- Exhibit 163: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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