The client, a global player in the commodities market, approached UC Strategy to assess the market opportunity for specialty fats in the bakery segment in India. The engagement entailed determining the attractiveness of this market through detailed customer analysis, analyzing the competitive landscape and estimating the size of the market.
In order to fulfil the client’s requirements, UC Strategy used the following approach:
- The engagement began with understanding the client’s strategic intent, the management objectives and positioning envisaged
- Market assessment was initiated through segmentation on various pivots, mainly product application and customer segments
- This was followed by assessing the level of consolidation/fragmentation in the customer segments
- Conducted primary research with up to 100 respondents to profile customer segments and analyze and categorize selection criteria, purchase patterns and switching behavior across these segments
- Based on consumer feedback and interviews with entities across the value chain, the competitive landscape was evaluated to profile key competitors and categorize their strategies
- This was supplemented with an economic assessment of the key competitors along with analysis of market share, capacities and player movements
- Assessed the production processes of specialty fats along with the associated costs
- Aggregated sales of specialty fat manufacturers to conclude a supply side market size
- Analysed consumption trends, substitution patterns, changing preferences and key trends that impact the market for specialty fats
- Arrived at a demand-side market size for the bakery specialty fat market in India for the current year, along with an estimated projection for the following years
- In addition to this, derived segment-wise market sizes and growth potential across specialty fats and customer segments
The client received a detailed review of the opportunity for specialty fats for the bakery segment in India. This encompassed an extensive customer analysis, along with benchmarking competitors across various parameters and extracting key learnings from their strategies. The market size and growth potential of the Indian specialty fat market were also provided, based on which UC Strategy recommended a detailed evaluation of an entry strategy for the client, highlighting key points to be implemented in order to achieve significant market share.