Asia-Pacific Oat Milk Market Size
Icons | Lable | Value |
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Study Period | 2017 - 2029 | |
Market Size (2024) | USD 394 Million | |
Market Size (2029) | USD 700.8 Million | |
Largest Share by Distribution Channel | Off-Trade | |
CAGR (2024 - 2029) | 12.21 % | |
Largest Share by Country | Australia | |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Asia-Pacific Oat Milk Market Analysis
The Asia-Pacific Oat Milk Market size is estimated at 394 million USD in 2024, and is expected to reach 700.8 million USD by 2029, growing at a CAGR of 12.21% during the forecast period (2024-2029).
394 Million
Market Size in 2024 (USD)
700.8 Million
Market Size in 2029 (USD)
10.23 %
CAGR (2017-2023)
12.21 %
CAGR (2024-2029)
Largest Market by Distribution Channel
94.62 %
value share, Off-Trade, 2023
The product assortment and shelf space in off-trade retail channels is allowing consumers to compare the products, which has emerged to be one of the major factor driving segmental growth.
Largest Market by Country
20.12 %
value share, Australia, 2023
The number of beverage sales using plant-based milk has increased massively in Australia with socially conscious and health-driven café customers driving segmental growth.
Fastest-growing Market by Distribution Channel
12.46 %
Projected CAGR, Off-Trade, 2024-2029
The ease of product comparibility enabling them to read the labels which is provoking them to make smarter choices in the market is largely driving the segmental growth.
Fastest-growing Market by Country
20.40 %
Projected CAGR, China, 2024-2029
The health beneficial factors of oat milk along with its similarity in technical aspects to dairy is largely captivating the consumption of oat milk in China through coffe shops and others.
Leading Market Player
23.68 %
market share, Oatly Group AB, 2022
The Oatly Group AB's broad distribution network in retail and foodservice sectors supports its largest market share through partnerships with industrial giants.
Wide presence of popular chains is supporting the market growth
- The off-trade channel dominates oat milk sales in Asia-Pacific compared to other distribution channels. Supermarkets and hypermarkets accounted for most of the share of oat milk sales in 2022, i.e., 57.8%. This growth was due to the availability of international and local brands at these stores.
- Convenience stores are the second most widely preferred off-trade retail channel for oat milk sales. The sales value of oat milk through convenience stores is anticipated to grow by 31.5% in 2025 compared to 2022. Top convenience stores like Easy Joy, Meiyijia, 7-Eleven Inc., and Lawson are offering dairy alternatives, such as oat milk, with annual memberships and discounts on bulk purchases to attract consumers. This trend is expected to drive oat milk sales during the forecast period. As of 2021, Easy Joy was the largest convenience store, with more than 27,600 outlets in China. Meiyijia and 7-Eleven stood second and third with 22,394 and 20,988 stores, respectively.
- There is an increasing demand for oat milk drinks from foodservice channels, further boosting the market's growth. Many coffee chains and restaurants in the region offer oat milk on their menus. Oat milk sales from the on-trade channel grew by 11.3% from 2020 to 2022, attributed to consumers preferring dairy alternatives, such as oat milk, away from home, whether while dining out at a restaurant or ordering takeout. As of 2021, Indian consumers ate out nearly seven times a month, and over 80% of the respondents stated that they would prefer affordable casual dining options and fast-service restaurants.
China holds significant share due to growing increases consumers inclination towards oat milk consumption
- With the growing adoption of Western culture, there is a significant growth in the adoption of flexitarian and vegan lifestyles. In 2021, around 2.5 million people in South Korea followed a vegan diet, which increased significantly in the past 2-3 years. This growing trend is a major factor driving the consumption of oat milk..
- Rising awareness of health and wellness and the growing health problems among consumers, such as heart diseases, high blood pressure, diabetes, and asthma, are driving the consumption of plant-based dairy alternatives, including oat milk, across the region. Many lactose-intolerant consumers do not consume milk or milk products, leading to increased demand for oat milk. The sales value of oat milk in the Asia-Pacific region is anticipated to grow by 10.82% compared to 2021.
- Lactose intolerance is another growing concern in Asian countries, particularly in East Asia, where nearly more than 70% of the population has lactose intolerance. Cow milk allergy is one of the common food allergies in young children. Many Japanese consumers are also lactose-intolerant and do not consume milk or milk products. As of 2022, around 1 in 50 babies and young children in Australia showed signs of an allergy to cow's milk. Therefore, oat milk demand is increasing gradually across the region.
- Consumers in the region are becoming increasingly aware of their nutritional choices. Owing to their busy lifestyles, their purchasing decision depends on a product's nutritional value, thus driving the demand for plant-based milk in the region. Consumers, especially those allergic to dairy milk, are keen on consuming oat milk as a substitute.
Asia-Pacific Oat Milk Market Trends
The rising vegan population drives the consumption of oat milk
- Oat milk consumption per person has increased for the past few years due to the growing vegan population. Vegan music festivals are being conducted in numerous countries like Australia, which has the third-highest percentage of vegans per capita globally. As of 2022, the country had 2.5 million vegans and vegetarians. Similarly, around 2.8 million people in South Korea follow a vegan diet. This increased significantly in the past 2-3 years and was considered a major factor driving the consumption of dairy alternative products, including plant-based milk (oat milk).
- Lactose intolerance is most common in Asian countries, particularly in East Asia, where nearly 70-100% of the population is lactose intolerant. The growing volume of lactose-intolerant consumers in the region has been another important aspect. However, cow milk allergy is also a common food allergy in young children. Many Japanese consumers are lactose intolerant and do not consume milk or milk-related products. As of 2022, in Australia, around one in 50 babies and young children showed signs of an allergy to cow's milk. Thus, the demand for oat milk is increasing significantly across the Asia-Pacific region.
- There is a constant rise in the per capita consumption of oat milk due to consumer preference toward sustainable ingredient sourcing, which is concerned with the hormones (plant estrogen or isoflavones) found in soy milk. Oat milk also comes with GMO-free, low-fat, and allergen-free claims, giving consumers more plant-based options to choose from to diversify their diets. The per capita consumption of oat milk in the region is estimated to increase by 10.22% from 2023 to 2024.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Production expands due to the rising consumer demand for environmentally friendly and animal-free sources of protein
Asia-Pacific Oat Milk Industry Overview
The Asia-Pacific Oat Milk Market is fragmented, with the top five companies occupying 26.07%. The major players in this market are Freedom Foods Group Ltd, Nestlé SA, Oatly Group AB, PureHarvest and Sanitarium Health and Wellbeing Company (sorted alphabetically).
Asia-Pacific Oat Milk Market Leaders
Freedom Foods Group Ltd
Nestlé SA
Oatly Group AB
PureHarvest
Sanitarium Health and Wellbeing Company
Other important companies include Califia Farms LLC, Danone SA, Milkin Oats, Minor Figures Limited, Ripple Foods PBC, SunOpta Inc..
*Disclaimer: Major Players sorted in alphabetical order.
Asia-Pacific Oat Milk Market News
- February 2023: Sanitarium Health and Wellbeing Company has expanded its business by launching its "So Good" brand in India. The brand was launched through its subsidiary company, Life Health Foods.
- April 2022: Califia Farms launched three new plant-based milk: Original Oat Milk, Almond Barista, and Oat Vanilla.
- May 2020: PureHarvest launched NOM (Nutty Oat Milk), a blended oat and nut plant milk, which was released in Australia.
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 dairy alternatives industry. With the help of 45+ free charts, clients can access in-depth market analysis based on per capita consumption numbers and production data of raw materials for dairy alternatives, through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on dairy alternative products, categories of dairy alternative products, product types, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
Asia-Pacific Oat Milk 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. Per Capita Consumption
2.2. Raw Material/commodity Production
2.2.1. Oats
2.3. Regulatory Framework
2.3.1. Australia
2.3.2. China
2.3.3. India
2.3.4. Japan
2.4. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
3.1. Distribution Channel
3.1.1. Off-Trade
3.1.1.1. By Sub Distribution Channels
3.1.1.1.1. Convenience Stores
3.1.1.1.2. Online Retail
3.1.1.1.3. Specialist Retailers
3.1.1.1.4. Supermarkets and Hypermarkets
3.1.1.1.5. Others (Warehouse clubs, gas stations, etc.)
3.1.2. On-Trade
3.2. Country
3.2.1. Australia
3.2.2. China
3.2.3. India
3.2.4. Indonesia
3.2.5. Japan
3.2.6. Malaysia
3.2.7. New Zealand
3.2.8. Pakistan
3.2.9. South Korea
3.2.10. Rest of Asia Pacific
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
4.4.1. Califia Farms LLC
4.4.2. Danone SA
4.4.3. Freedom Foods Group Ltd
4.4.4. Milkin Oats
4.4.5. Minor Figures Limited
4.4.6. Nestlé SA
4.4.7. Oatly Group AB
4.4.8. PureHarvest
4.4.9. Ripple Foods PBC
4.4.10. Sanitarium Health and Wellbeing Company
4.4.11. SunOpta Inc.
5. KEY STRATEGIC QUESTIONS FOR DAIRY AND DAIRY ALTERNATIVE 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:
- PER CAPITA CONSUMPTION OF OAT MILK, KG, ASIA-PACIFIC, 2017 - 2029
- Figure 2:
- PRODUCTION VOLUME OF ASIA-PACIFIC OAT MILK MARKET - RAW MATERIAL, METRIC TONNES, ASIA-PACIFIC, 2017 - 2021
- Figure 3:
- VOLUME OF OAT MILK, METRIC TONNES, BY ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- VALUE OF OAT MILK, USD MN, BY ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- VOLUME OF OAT MILK MARKET BY DISTRIBUTION CHANNEL, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- VALUE OF OAT MILK MARKET BY DISTRIBUTION CHANNEL, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VOLUME SHARE OF OAT MILK MARKET, BY DISTRIBUTION CHANNEL , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 8:
- VALUE SHARE OF OAT MILK MARKET, BY DISTRIBUTION CHANNEL , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 9:
- VOLUME OF OAT MILK MARKET BY SUB DISTRIBUTION CHANNELS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 10:
- VALUE OF OAT MILK MARKET BY SUB DISTRIBUTION CHANNELS, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VOLUME SHARE OF OAT MILK MARKET, BY SUB DISTRIBUTION CHANNELS , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 12:
- VALUE SHARE OF OAT MILK MARKET, BY SUB DISTRIBUTION CHANNELS , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 13:
- VOLUME OF OAT MILK MARKET SOLD VIA CONVENIENCE STORES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VALUE OF OAT MILK MARKET SOLD VIA CONVENIENCE STORES, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- VOLUME OF OAT MILK MARKET SOLD VIA ONLINE RETAIL, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 16:
- VALUE OF OAT MILK MARKET SOLD VIA ONLINE RETAIL, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 17:
- VOLUME OF OAT MILK MARKET SOLD VIA SPECIALIST RETAILERS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE OF OAT MILK MARKET SOLD VIA SPECIALIST RETAILERS, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 19:
- VOLUME OF OAT MILK MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF OAT MILK MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VOLUME OF OAT MILK MARKET SOLD VIA OTHERS (WAREHOUSE CLUBS, GAS STATIONS, ETC.), METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 22:
- VALUE OF OAT MILK MARKET SOLD VIA OTHERS (WAREHOUSE CLUBS, GAS STATIONS, ETC.), USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 23:
- VOLUME OF OAT MILK MARKET SOLD VIA ON-TRADE, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE OF OAT MILK MARKET SOLD VIA ON-TRADE, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 25:
- VOLUME OF OAT MILK MARKET BY COUNTRY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 26:
- VALUE OF OAT MILK MARKET BY COUNTRY, USD MN, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VOLUME SHARE OF OAT MILK MARKET, BY COUNTRY , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 28:
- VALUE SHARE OF OAT MILK MARKET, BY COUNTRY , %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 29:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, AUSTRALIA, 2017 - 2029
- Figure 30:
- VALUE OF OAT MILK MARKET, USD MN, AUSTRALIA, 2017 - 2029
- Figure 31:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, CHINA, 2017 - 2029
- Figure 32:
- VALUE OF OAT MILK MARKET, USD MN, CHINA, 2017 - 2029
- Figure 33:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, INDIA, 2017 - 2029
- Figure 34:
- VALUE OF OAT MILK MARKET, USD MN, INDIA, 2017 - 2029
- Figure 35:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, INDONESIA, 2017 - 2029
- Figure 36:
- VALUE OF OAT MILK MARKET, USD MN, INDONESIA, 2017 - 2029
- Figure 37:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, JAPAN, 2017 - 2029
- Figure 38:
- VALUE OF OAT MILK MARKET, USD MN, JAPAN, 2017 - 2029
- Figure 39:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, MALAYSIA, 2017 - 2029
- Figure 40:
- VALUE OF OAT MILK MARKET, USD MN, MALAYSIA, 2017 - 2029
- Figure 41:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, NEW ZEALAND, 2017 - 2029
- Figure 42:
- VALUE OF OAT MILK MARKET, USD MN, NEW ZEALAND, 2017 - 2029
- Figure 43:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, PAKISTAN, 2017 - 2029
- Figure 44:
- VALUE OF OAT MILK MARKET, USD MN, PAKISTAN, 2017 - 2029
- Figure 45:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 46:
- VALUE OF OAT MILK MARKET, USD MN, SOUTH KOREA, 2017 - 2029
- Figure 47:
- VOLUME OF OAT MILK MARKET, METRIC TONNES, REST OF ASIA PACIFIC, 2017 - 2029
- Figure 48:
- VALUE OF OAT MILK MARKET, USD MN, REST OF ASIA PACIFIC, 2017 - 2029
- Figure 49:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC, 2017 - 2029
- Figure 50:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2017 - 2029
- Figure 51:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-Pacific Oat Milk Industry Segmentation
Off-Trade, On-Trade are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, South Korea are covered as segments by Country.
- The off-trade channel dominates oat milk sales in Asia-Pacific compared to other distribution channels. Supermarkets and hypermarkets accounted for most of the share of oat milk sales in 2022, i.e., 57.8%. This growth was due to the availability of international and local brands at these stores.
- Convenience stores are the second most widely preferred off-trade retail channel for oat milk sales. The sales value of oat milk through convenience stores is anticipated to grow by 31.5% in 2025 compared to 2022. Top convenience stores like Easy Joy, Meiyijia, 7-Eleven Inc., and Lawson are offering dairy alternatives, such as oat milk, with annual memberships and discounts on bulk purchases to attract consumers. This trend is expected to drive oat milk sales during the forecast period. As of 2021, Easy Joy was the largest convenience store, with more than 27,600 outlets in China. Meiyijia and 7-Eleven stood second and third with 22,394 and 20,988 stores, respectively.
- There is an increasing demand for oat milk drinks from foodservice channels, further boosting the market's growth. Many coffee chains and restaurants in the region offer oat milk on their menus. Oat milk sales from the on-trade channel grew by 11.3% from 2020 to 2022, attributed to consumers preferring dairy alternatives, such as oat milk, away from home, whether while dining out at a restaurant or ordering takeout. As of 2021, Indian consumers ate out nearly seven times a month, and over 80% of the respondents stated that they would prefer affordable casual dining options and fast-service restaurants.
Distribution Channel | |||||||||
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On-Trade |
Country | |
Australia | |
China | |
India | |
Indonesia | |
Japan | |
Malaysia | |
New Zealand | |
Pakistan | |
South Korea | |
Rest of Asia Pacific |
Market Definition
- Dairy Alternatives - Dairy alternatives are foods that are made from plant-based milk/oils instead of their usual animal products, such as cheese, butter, milk, ice cream, yogurt, etc. Plant-based or non-dairy milk alternative is the fast-growing segment in the newer food product development category of functional and specialty beverage across the globe.
- Non-Dairy Butter - Non dairy butter is a vegan butter alternative that is made from a mixture of plant oils. With an increase in alternative diets like vegetarianism, veganism, and gluten intolerance, plant butter is a healthy non-dairy substitute for normal butter.
- Non-Dairy Ice Cream - Plant based ice cream is a growing category. Non-dairy ice cream is a type of dessert made without any animal ingredients. This is typically considered a substitute for regular ice cream for those who cannot or do not eat animal or animal-derived products, including eggs, milk, cream, or honey.
- Plant-Based Milk - Plant based milks are milk substitutes that are made from nuts (e.g., hazelnuts, hemp seeds), seeds (e.g., sesame, walnuts, coconuts, cashews, almonds, rice, oats, etc.) or legumes (e.g., soy). Plant-based milk such as soy milk and almond milk have been popular in East Asia and the Middle East for centuries.
Keyword | Definition |
---|---|
Cultured Butter | Cultured butter is prepared by having the raw butter go through chemical processing and has been added with certain emulsifiers and foreign ingredients. |
Uncultured Butter | This type of butter is one which has not been processed in any way |
Natural Cheese | The type of cheese in its most natural form. It is made from natural and simple products and ingredients, including fresh and natural salts, natural colors, enzymes, and high-quality milk. |
Processed Cheese | Processed cheese undergoes the same processes as natural cheese; however, it requires more steps and many different forms of ingredients. Making processed cheese involves melting natural cheese, emulsifying it, and adding preservatives and other artificial ingredients or colorings. |
Single Cream | Single cream contains around 18% fat. It’s a single layer of cream that appears over boiled milk. |
Double Cream | Double cream contains 48% fat, more than double the amount of fat of single cream. It’s heavier and thicker than single cream |
Whipping Cream | This has a much higher fat percentage than single cream (36%). Used to top cakes, pies, and puddings and as a thickener for sauces, soups, and fillings. |
Frozen Desserts | Desserts that are meant to be eaten in frozen condition. E.g., sherbets, sorbets, frozen yogurts |
UHT Milk (Ultra-high temperature milk) | Milk heated at a very high temperature. Ultra-high-temperature processing (UHT) of milk involves heating for 1–8 sec at 135–154°C. which kills the spore-forming pathogenic microorganism, resulting in a product with a shelf-life of several months. |
Non-dairy butter/Plant-based butter | Butter made from plant-derived oil such as coconut, palm, etc. |
Non-dairy Yogurt | Yogurt made from typically made from nuts, like almonds, cashews, coconuts, and even other foods like soybeans, plantains, oats, and peas |
On-trade | It refers to restaurants, QSRs, and bars. |
Off-trade | It refers to supermarkets, hypermarkets, on-line channels, etc. |
Neufchatel cheese | One of the oldest kinds of cheese in France. It is a soft, slightly crumbly, mold-ripened, bloomy-rind cheese made in the Neufchâtel-en-Bray region of Normandy. |
Flexitarian | It refers to a consumer preferring a semi-vegetarian diet, that is centered on plant foods with limited or occasional inclusion of meat. |
Lactose Intolerance | Lactose intolerance is a reaction in digestive system to lactose, the sugar in milk. It causes uncomfortable symptoms in response to the consumption of dairy products. |
Cream Cheese | Cream cheese is a soft and creamy fresh cheese with a tangy taste made from milk and cream. |
Sorbets | Sorbet is a frozen dessert made using ice combined with fruit juice, fruit purée, or other ingredients, such as wine, liqueur, or honey. |
Sherbet | Sherbet is a sweetened frozen dessert made with fruit and some sort of dairy product such as milk or cream. |
Shelf stable | Foods that can be safely stored at room temperature, or "on the shelf," for at least one year and do not have to be cooked or refrigerated to eat safely. |
DSD | Direct Store Delivery is the process in supply chain management wherein the product is delivered from manufacturing plant directly to the retailer. |
OU Kosher | Orthodox Union Kosher is a kosher certification agency based in New York City. |
Gelato | Gelato is a frozen creamy dessert made with milk, heavy cream and sugar. |
Grass-fed Cows | Grass-fed cows are allowed to graze in pastures, where they eat a variety of grasses and clover. |
Research Methodology
Mordor Intelligence 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