We offer a market potential study for a European-based global business to validate Asia’s market potential and product demands.
Our client, an acknowledged European company, asked for extensive insight into the chemical ingredients in their cosmetics and pharmaceutical products. The market’s competition, product demand, price positioning, and size were present in the findings. Due to their current losses on the production of chemical ingredients, our client had to decide whether to produce chemical products in higher value and invest in production tools, reorganize the chemical production, or close the facility for good.
YCP Solidiance analyzed two specialized chemical products in terms of product demands and sales capabilities throughout five distinct markets. Also, we put out a comprehensive study on ingredients’ price and utility for both industries. Our client’s aspects deemed necessary to engage in Asia were not essential in customers’ perspectives; thus, the client was not so optimistic about winning the market competition.
Our professional team carried out a comprehensive study for the client and customers, distributors, market players, and regulatory bodies. More than 130 interviews were also performed to get a deeper understanding of the market supply and demand. The complete insights on market size and selling price enable us to calculate our client’s potential sales, helping them make critical decisions for the business.
This study managed to give our client a detailed market potential validation, allowing them to realize that negative potentials are present in their two specialized chemical ingredients to enter the Asia market. Therefore, it would be pointless for our client to produce those two products. Our client finally reorganized their production system and set chemical ingredients in higher value across Asia, in which the market potential is high.