North America Chocolate Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2018 - 2030 | |
Market Size (2024) | USD 32.94 Billion | |
Market Size (2030) | USD 45.20 Billion | |
Largest Share by Distribution Channel | Supermarket/Hypermarket | |
CAGR (2024 - 2030) | 5.41 % | |
Largest Share by Country | United States | |
Market Concentration | Medium | |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
North America Chocolate Market Analysis
The North America Chocolate Market size is estimated at 32.94 billion USD in 2024, and is expected to reach 45.20 billion USD by 2030, growing at a CAGR of 5.41% during the forecast period (2024-2030).
32.94 Billion
Market Size in 2024 (USD)
45.20 Billion
Market Size in 2030 (USD)
5.51 %
CAGR (2018-2023)
5.41 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
60.29 %
value share, Milk and White Chocolate, 2023
The innovative flavor offerings and the versatility of white chocolate and the varied taste profiles in the region are anticipated to drive the segment's growth.
Largest Segment by Distribution Channel
46.71 %
value share, Supermarket/Hypermarket, 2023
Consumers in the region are increasingly purchasing from supermarkets and hypermarkets due to wide offerings and expanding shelf space for innovative chocolate products.
Fastest-growing Segment by Confectionery variant
6.15 %
Projected CAGR, Dark Chocolate, 2024-2030
Rising health awareness among consumers about dark chocolate's nutritional content, flavor profile and stress-relieving ability is expected to drive the demand in the region.
Fastest-growing Segment by Distribution Channel
6.28 %
Projected CAGR, Online Retail Store, 2024-2030
Increasing product awareness, broad selection make it easier to market chocolate products directly to consumers online. Thus,the segment is expected to be the fastest-growing.
Leading Market Player
28.94 %
market share, The Hershey Company, 2022
The differentiated market strategies used by The Hershey Company, along with strong manufacturing & distribution capabilities, are contributing to its leadership position.
The North American distribution network is dominated by supermarkets/hypermarkets and other segments, which together make up almost 70% of the market share in 2023
- The overall distribution channel in North America is playing a vital role in the growth of the chocolate market. Under the overall distribution segment, the retailers offer a wide variety of chocolate products to drag the consumer focus. In addition, the retailers have segmented the chocolates into a wide variety of flavors, textures, packaging, etc. In 2023, by value, the overall share of the distribution channel registered a growth of 5.16% compared to 2022.
- By value, supermarkets and hypermarkets were considered the major retailers in North America. These retailers sell chocolates in varied price ranges (low, medium, and high). The average selling price of dark chocolate was USD 3.12 in 2023. Due to the respective aspect, consumers are majorly trending toward these retailing units as it is promoting the consumer buying power in this region.
- Convenience stores were the second largest retailers and became an important part of the retailing channel in 2022. These stores have the capability of offering a greater convenience experience to their consumers. In 2023, it was observed that Becker's owed 45 stores in Ontario.
- The online retailing segment emerged to be the fastest-growing retailer in North America in 2023. With the growing penetration of internet users, the demand for online grocery has become a crucial part of the region's retailing segment. By the end of 2021, the total number of internet users in the United States was 89.5 million, or 75.7% of the total population.
- During the forecast period (2026-2029), it is expected that the market will grow by 5.58% by value. The major factor that will be driving the chocolate industry is linked to the growing demand for premium chocolates among the population.
The United States leads the regional value during the study period, followed by Canada together held a share of 90% by value in 2023
- The chocolate segment in North America registered a growth rate of 5.16% in 2023 compared to 2022. The diversification of flavors, increasing disposable income, and changing consumer preferences have led to the growing demand for chocolate in the region.
- The United States holds the major share in the region, supported by the highest consumption of chocolate products in the country. In 2023, the consumption of chocolates in the United States reached around USD 25,767 million, which represented a 10.1% growth from 2021. The consumer’s shift toward high-quality chocolate products, such as single-origin chocolates, handmade chocolates, dark chocolates, organic chocolates, and other chocolate products, is a significant factor driving the chocolate segment in the country.
- As consumers prefer various types of chocolates, categories such as novelty chocolates, sugar-free chocolates, gift boxes, and snack-size chocolate bars are considered premium and are widely sold in the United States. As of 2022, 78% of the consumers in the country agreed that chocolate makes them happy, and 81% of the consumers see chocolates as a fun part of life.
- Canada is the second-leading country for the sales of chocolate products in the region. The sales value of chocolates in Canada is anticipated to grow by 26.6% in 2026 compared to 2022. Canadians are becoming more health-conscious and are seeking healthier alternatives, even when it comes to indulgent treats like chocolate. Dark chocolate, which is perceived as being higher in cocoa content and containing fewer additives, has gained popularity for its potential health benefits.
North America Chocolate Market Trends
The increasing demand for artisanal chocolates, coupled with strong demand during special occasions like Christmas and Halloween, allows the chocolate market to grow
- Chocolate remains a timeless treat among North Americans. With a 44% value share in 2023, chocolate is expected to continue to be the most frequently consumed confectionery in the region. Americans consume approximately 2.8 billion pounds of chocolate every year, with 77% of Americans consuming chocolate at least once a month as of 2023.
- Packaging and flavor remain consumers' first impression of chocolate, among other attributes, which determines the likelihood of purchasing. In the United States, chocolate is the favorite candy category among most consumers (90%). This is because chocolate is the general favorite flavor of over 50% of Americans.
- The economic parameter remains the most important and crucial factor influencing consumers’ chocolate-buying behavior.;= The prices of chocolates range from as low as USD 3.1/pound to USD 24/ pound. ÌÇÐÄvlog´«Ã½ half (47%) of Americans purchased USD 5-10 worth of chocolate a few times a month from their grocery stores in 2023.
- In North America, the consumption of chocolate is generally viewed from a health (physical and mental) perspective with a mix of opinions. While chocolate is a popular treat enjoyed by many, there are considerations regarding its health benefits and potential drawbacks.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Major manufacturers are avoiding the use of artificial flavors, preservatives, or sweeteners to cater to a larger market
North America Chocolate Industry Overview
The North America Chocolate Market is moderately consolidated, with the top five companies occupying 64.90%. The major players in this market are Ferrero International SA, Mars Incorporated, Mondelēz International Inc., Nestlé SA and The Hershey Company (sorted alphabetically).
North America Chocolate Market Leaders
Ferrero International SA
Mars Incorporated
Mondelēz International Inc.
Nestlé SA
The Hershey Company
Other important companies include Albanese Confectionery Group Inc., Askinosie Chocolate, Chocoladefabriken Lindt & Sprüngli AG, Ezaki Glico Co. Ltd, Guittard Chocolate Company, Lake Champlain Chocolates, Mast Brothers & Co., Theo Chocolate Inc., Vosges Haut-Chocolat LLC, Yıldız Holding AS.
*Disclaimer: Major Players sorted in alphabetical order.
North America Chocolate Market News
- November 2022: Yıldız Holding AS' brand GODIVA launched "Holiday Collection Packs" of premium chocolates. The chocolate packs include Milk Chocolate Praline Heart, Midnight Swirl, and White Chocolate Raspberry Star.
- October 2022: Lindt & Sprungli USA launched its first-ever 3D virtual store. Lindt's new online storefront allows consumers across the country to engage in the enchanting brand experience of a Lindt Chocolate store from the comfort of their homes or even on the go.
- October 2022: Mondelēz International introduced Cadbury’s Plant Bar, a vegan chocolate version of the brand’s famous Dairy Milk bar, to the Canadian market.
Free with this Report
We provide a comprehensive and exhaustive set of data pointers for global, regional, and country-level metrics that illustrate the fundamentals of the confectionery industry. With the help of 45+ free charts, clients can access in-depth market analysis based on price trend analysis of confectionery ingredients and per capita consumption of confections, through granular-level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on confections, confectionery variants, sugar content, insights into consumer preferences and purchasing patterns, an overview of key market players, etc., are available in the form of comprehensive reports as well as excel-based data worksheets.
North America Chocolate Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study​
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Regulatory Framework
2.2. Consumer Buying Behavior
2.3. Ingredient Analysis
2.4. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Confectionery Variant
3.1.1. Dark Chocolate
3.1.2. Milk and White Chocolate
3.2. Distribution Channel
3.2.1. Convenience Store
3.2.2. Online Retail Store
3.2.3. Supermarket/Hypermarket
3.2.4. Others
3.3. Country
3.3.1. Canada
3.3.2. Mexico
3.3.3. United States
3.3.4. Rest of North America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Albanese Confectionery Group Inc.
4.4.2. Askinosie Chocolate
4.4.3. Chocoladefabriken Lindt & Sprüngli AG
4.4.4. Ezaki Glico Co. Ltd
4.4.5. Ferrero International SA
4.4.6. Guittard Chocolate Company
4.4.7. Lake Champlain Chocolates
4.4.8. Mars Incorporated
4.4.9. Mast Brothers & Co.
4.4.10. Mondelēz International Inc.
4.4.11. Nestlé SA
4.4.12. The Hershey Company
4.4.13. Theo Chocolate Inc.
4.4.14. Vosges Haut-Chocolat LLC
4.4.15. Yıldız Holding AS
5. KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF CHOCOLATE MARKET, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 2:
- VALUE OF CHOCOLATE MARKET, USD, NORTH AMERICA, 2018 - 2030
- Figure 3:
- VOLUME OF CHOCOLATE MARKET BY CONFECTIONERY VARIANT, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 4:
- VALUE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANT, USD, NORTH AMERICA, 2018 - 2030
- Figure 5:
- VOLUME SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANT, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 6:
- VALUE SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANT, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 7:
- VOLUME OF DARK CHOCOLATE MARKET, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 8:
- VALUE OF DARK CHOCOLATE MARKET, USD, NORTH AMERICA, 2018 - 2030
- Figure 9:
- VALUE SHARE OF DARK CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2023 VS 2030
- Figure 10:
- VOLUME OF MILK AND WHITE CHOCOLATE MARKET, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 11:
- VALUE OF MILK AND WHITE CHOCOLATE MARKET, USD, NORTH AMERICA, 2018 - 2030
- Figure 12:
- VALUE SHARE OF MILK AND WHITE CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2023 VS 2030
- Figure 13:
- VOLUME OF CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 14:
- VALUE OF CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, USD, NORTH AMERICA, 2018 - 2030
- Figure 15:
- VOLUME SHARE OF CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 16:
- VALUE SHARE OF CHOCOLATE MARKET BY DISTRIBUTION CHANNEL, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 17:
- VOLUME OF CHOCOLATE MARKET SOLD VIA CONVENIENCE STORE, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 18:
- VALUE OF CHOCOLATE MARKET SOLD VIA CONVENIENCE STORE, USD, NORTH AMERICA, 2018 - 2030
- Figure 19:
- VALUE SHARE OF CHOCOLATE MARKET SOLD VIA CONVENIENCE STORE BY CONFECTIONERY VARIANTS, %, NORTH AMERICA, 2023 VS 2030
- Figure 20:
- VOLUME OF CHOCOLATE MARKET SOLD VIA ONLINE RETAIL STORE, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 21:
- VALUE OF CHOCOLATE MARKET SOLD VIA ONLINE RETAIL STORE, USD, NORTH AMERICA, 2018 - 2030
- Figure 22:
- VALUE SHARE OF CHOCOLATE MARKET SOLD VIA ONLINE RETAIL STORE BY CONFECTIONERY VARIANTS, %, NORTH AMERICA, 2023 VS 2030
- Figure 23:
- VOLUME OF CHOCOLATE MARKET SOLD VIA SUPERMARKET/HYPERMARKET, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 24:
- VALUE OF CHOCOLATE MARKET SOLD VIA SUPERMARKET/HYPERMARKET, USD, NORTH AMERICA, 2018 - 2030
- Figure 25:
- VALUE SHARE OF CHOCOLATE MARKET SOLD VIA SUPERMARKET/HYPERMARKET BY CONFECTIONERY VARIANTS, %, NORTH AMERICA, 2023 VS 2030
- Figure 26:
- VOLUME OF CHOCOLATE MARKET SOLD VIA OTHERS, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 27:
- VALUE OF CHOCOLATE MARKET SOLD VIA OTHERS, USD, NORTH AMERICA, 2018 - 2030
- Figure 28:
- VALUE SHARE OF CHOCOLATE MARKET SOLD VIA OTHERS BY CONFECTIONERY VARIANTS, %, NORTH AMERICA, 2023 VS 2030
- Figure 29:
- VOLUME OF CHOCOLATE MARKET BY COUNTRY, METRIC TONNES, NORTH AMERICA, 2018 - 2030
- Figure 30:
- VALUE OF CHOCOLATE MARKET BY COUNTRY, USD, NORTH AMERICA, 2018 - 2030
- Figure 31:
- VOLUME SHARE OF CHOCOLATE MARKET BY COUNTRY, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 32:
- VALUE SHARE OF CHOCOLATE MARKET BY COUNTRY, %, NORTH AMERICA, 2018 VS 2024 VS 2030
- Figure 33:
- VOLUME OF CHOCOLATE MARKET, METRIC TONNES, CANADA, 2018 - 2030
- Figure 34:
- VALUE OF CHOCOLATE MARKET, USD, CANADA, 2018 - 2030
- Figure 35:
- VALUE SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANTS, %, CANADA, 2023 VS 2030
- Figure 36:
- VOLUME OF CHOCOLATE MARKET, METRIC TONNES, MEXICO, 2018 - 2030
- Figure 37:
- VALUE OF CHOCOLATE MARKET, USD, MEXICO, 2018 - 2030
- Figure 38:
- VALUE SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANTS, %, MEXICO, 2023 VS 2030
- Figure 39:
- VOLUME OF CHOCOLATE MARKET, METRIC TONNES, UNITED STATES, 2018 - 2030
- Figure 40:
- VALUE OF CHOCOLATE MARKET, USD, UNITED STATES, 2018 - 2030
- Figure 41:
- VALUE SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANTS, %, UNITED STATES, 2023 VS 2030
- Figure 42:
- VOLUME OF CHOCOLATE MARKET, METRIC TONNES, REST OF NORTH AMERICA, 2018 - 2030
- Figure 43:
- VALUE OF CHOCOLATE MARKET, USD, REST OF NORTH AMERICA, 2018 - 2030
- Figure 44:
- VALUE SHARE OF CHOCOLATE MARKET BY CONFECTIONERY VARIANTS, %, REST OF NORTH AMERICA, 2023 VS 2030
- Figure 45:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, NORTH AMERICA, 2018 - 2023
- Figure 46:
- MOST ADOPTED STRATEGIES, COUNT, NORTH AMERICA, 2018 - 2023
- Figure 47:
- VALUE SHARE OF MAJOR PLAYERS, %, NORTH AMERICA, 2022
North America Chocolate Industry Segmentation
Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel. Canada, Mexico, United States are covered as segments by Country.
- The overall distribution channel in North America is playing a vital role in the growth of the chocolate market. Under the overall distribution segment, the retailers offer a wide variety of chocolate products to drag the consumer focus. In addition, the retailers have segmented the chocolates into a wide variety of flavors, textures, packaging, etc. In 2023, by value, the overall share of the distribution channel registered a growth of 5.16% compared to 2022.
- By value, supermarkets and hypermarkets were considered the major retailers in North America. These retailers sell chocolates in varied price ranges (low, medium, and high). The average selling price of dark chocolate was USD 3.12 in 2023. Due to the respective aspect, consumers are majorly trending toward these retailing units as it is promoting the consumer buying power in this region.
- Convenience stores were the second largest retailers and became an important part of the retailing channel in 2022. These stores have the capability of offering a greater convenience experience to their consumers. In 2023, it was observed that Becker's owed 45 stores in Ontario.
- The online retailing segment emerged to be the fastest-growing retailer in North America in 2023. With the growing penetration of internet users, the demand for online grocery has become a crucial part of the region's retailing segment. By the end of 2021, the total number of internet users in the United States was 89.5 million, or 75.7% of the total population.
- During the forecast period (2026-2029), it is expected that the market will grow by 5.58% by value. The major factor that will be driving the chocolate industry is linked to the growing demand for premium chocolates among the population.
Confectionery Variant | |
Dark Chocolate | |
Milk and White Chocolate |
Distribution Channel | |
Convenience Store | |
Online Retail Store | |
Supermarket/Hypermarket | |
Others |
Country | |
Canada | |
Mexico | |
United States | |
Rest of North America |
Market Definition
- Milk and White Chocolate - Milk chocolates is a solid chocolate made with milk (in the form of either milk powder, liquid milk, or condensed milk) and cocoa solids. White chocolate is made from cocoa butter and milk and contains no cocoa solids whatsoever. The scope includes regular chocolates, low-sugar, and sugar-free variants
- Toffees & Nougats - Toffees include hard, chewy, and small or one-bite candies marketed with labels as toffee or toffee-like confectionery. Nougat is a chewy confection with almond, sugar, and egg white as a basic ingredient; and it originated in Europe and Middle East countries.
- Cereals Bars - A snack composed of breakfast cereal that has been compressed into a bar shape and is held together with a form of edible adhesive. The scope includes snack bars made with cereals such as rice, oats, corn, etc. mixed with a binding syrup. These also include products labeled as cereal bars, cereal treat bars, or grain bars.
- Chewing Gum - This is a preparation for chewing, usually made of flavored and sweetened chicle or such substitutes as polyvinyl acetate. The types of chewing gums included in the scope are sugar-chewing gums and sugar-free chewing gums
Keyword | Definition |
---|---|
Dark Chocolate | Dark chocolate is a form of chocolate containing cocoa solids and cocoa butter without the milk. |
White Chocolate | White chocolate is the type of chocolate containing the highest percentage of milk solids, typically around or over 30 percent. |
Milk Chocolate | Milk chocolate is made from dark chocolate that has a low cocoa solid content and higher sugar content, plus a milk product. |
Hard Candy | A candy made of sugar and corn syrup boiled without crystallizing. |
Toffees | A hard, chewy, often brown sweet that is made from sugar boiled with butter. |
Nougats | A chewy or brittle candy containing almonds or other nuts and sometimes fruit. |
Cereal bar | A cereal bar is a bar-shaped food product, made by pressing cereals and usually dried fruit or berries, which are in most cases held together by glucose syrup. |
Protein bar | Protein bars are nutrition bars that contain a high proportion of protein to carbohydrates/fats. |
Fruit & Nut bar | These are often based on dates with other dried fruit and nut additions and, in some cases, flavorings. |
NCA | The National Confectioners Association is an American trade organization that promotes chocolate, candy, gum and mints, and the companies that make these treats. |
CGMP | Current good manufacturing practices are those conforming to the guidelines recommended by relevant agencies. |
Unstandardized foods | Unstandardized foods are those that do not have a standard of identity or that deviate from a prescribed standard in any manner. |
GI | The glycemic index (GI) is a way of ranking carbohydrate-containing foods based on how slowly or quickly they are digested and increase blood glucose levels over a period of time |
Skimmed milk powder | Skimmed milk powder is obtained by removing water from pasteurized skim milk by spray-drying. |
Flavanols | Flavanols are a group of compounds found in cocoa, tea, apples, and many other plant-based foods and beverages. |
WPC | Whey protein concentrate- the substance obtained by the removal of sufficient nonprotein constituents from pasteurized whey so that the finished dry product contains greater than 25% protein. |
LDL | Low density Lipoprotein- the bad cholesterol |
HDL | High density Lipoprotein- the good cholesterol |
BHT | butylated Hydroxytoluene is a lab-made chemical that is added to foods as a preservative. |
Carrageenan | Carrageenan is an additive used to thicken, emulsify, and preserve foods and drinks. |
Free form | Not containing certain ingredients, such as gluten, dairy, or sugar. |
Cocoa butter | It is a fatty substance obtained from cocoa beans, used in the manufacture of confectionery. |
Pastellies | A type of of Brazilian candy made from sugar, eggs, and milk. |
Draggees | Small, round candies that are coated with a hard sugar shell |
CHOPRABISCO | Royal Belgian Association of the chocolate, pralines, biscuit, and confectionery industry- A trade association that represents the Belgian chocolate industry. |
European Directive 2000/13 | A European Union directive that regulates the labeling of food products |
Kakao-Verordnung | The German chocolate ordinance, a set of regulations that define what can be labeled as "chocolate" in Germany. |
FASFC | Federal Agency for the Safety of the Food Chain |
Pectin | A natural substance that is derived from fruits and vegetables. It is used in confectionery to create a gel-like texture. |
Invert sugars | A type of sugar that is made up of glucose and fructose. |
Emulsifier | A substance that helps to mix to liquids that does not mix together. |
Anthocyanins | A type of flavonoid that is responsible for the red, purple, and blue colors of confectionery. |
Functional Foods | Foods that have been modified to provide additional health benefits beyond basic nutrition. |
Kosher certificate | This certification verifies that the ingredients, production process including all machinery, and/or food-service process complies with the standards of Jewish dietary law |
Chicory root extract | A natural extract from the chicory root that is a good source of fiber, calcium, phosphorous, and folate |
RDD | Recommended daily dose |
Gummies | A chewy gelatin-based candy that is often flavored with fruit. |
Nutraceuticals | Food or dietary supplements that are claimed to have health benefits. |
Energy bars | Snack bars that are high in carbohydrates and calories are designed to provide energy on the go. |
BFSO | Belgian Food Safety Organization for the food chain. |
Research Methodology
ÌÇÐÄvlog´«Ã½ follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.​
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.​
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.​
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms