Key Insights
The African yogurt market, valued at $1.48 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 6.06% from 2025 to 2033. This expansion is fueled by several key drivers. Rising disposable incomes across various African nations are leading to increased consumer spending on convenient and nutritious food products like yogurt. A growing awareness of health and wellness, coupled with the perception of yogurt as a healthy snack and breakfast option, is further boosting demand. The diversification of product offerings, including the introduction of innovative flavors catering to local palates and the rise of non-dairy alternatives to accommodate dietary preferences, is also a significant contributing factor. Increased urbanization and the expansion of organized retail channels such as supermarkets and hypermarkets are enhancing market accessibility and driving sales. While challenges exist, such as limited cold chain infrastructure in certain regions hindering product distribution and preservation, the overall market outlook remains positive. The market segmentation reveals a strong preference for flavored yogurt over plain yogurt, with supermarkets and hypermarkets dominating distribution channels. Key players like Nestle, Danone, and Chobani are actively competing to capture market share through product innovation, strategic partnerships, and expansion into new regions within Africa. The South Africa market leads regional growth, driven by high consumption and established retail infrastructure.
The forecast period will see continued growth driven by factors already mentioned, along with strategic investments by major players in expanding their manufacturing capabilities and distribution networks across the continent. The increasing penetration of e-commerce platforms will also contribute to growth, making yogurt more accessible to consumers in remote areas. However, maintaining a consistently high quality product across varying climates and ensuring affordable pricing for a broad consumer base will be crucial for continued success. Competition will intensify, requiring companies to innovate not just in terms of flavors but also in packaging, sustainability practices, and marketing strategies that resonate with the diverse African consumer landscape. Specific focus on regions with high growth potential, such as Kenya and Uganda, will be essential for brands aiming for significant market penetration in the long term.

Africa Yogurt Industry: A Comprehensive Market Report (2019-2033)
This comprehensive report provides an in-depth analysis of the Africa yogurt industry, covering market dynamics, growth trends, key players, and future prospects. With a focus on both parent and child markets, this report is an essential resource for industry professionals, investors, and anyone seeking to understand this rapidly evolving sector. The study period spans 2019-2033, with 2025 serving as the base and estimated year.
Africa Yogurt Industry Market Dynamics & Structure
The African yogurt market exhibits a dynamic interplay of factors impacting its structure and growth. Market concentration is moderate, with both multinational giants and local players vying for market share. Technological innovation, while present, faces barriers including infrastructural limitations and varying levels of consumer awareness across different regions. Regulatory frameworks vary across countries, influencing product standards and market access. Competitive product substitutes, including traditional fermented milk products and other dairy alternatives, exert pressure on the market. End-user demographics are crucial, with a youthful population driving demand for convenient, nutritious, and flavorful options. Mergers and acquisitions (M&A) activity remains relatively low compared to more developed markets, but the potential for consolidation exists.
- Market Concentration: Moderate, with a mix of multinational and local players. Nestle SA and Danone Southern Africa (Pty) Ltd hold significant shares, estimated at xx% and xx%, respectively, in 2025.
- Technological Innovation: Driven by improved production processes and product diversification (e.g., functional yogurts). However, limited access to advanced technology in some regions is a barrier.
- Regulatory Framework: Varies significantly across African countries, influencing product labeling, safety standards, and market entry.
- Competitive Substitutes: Traditional fermented milk products and plant-based alternatives represent key substitutes.
- End-User Demographics: A young and growing population fuels demand, particularly for convenient and affordable options.
- M&A Trends: Relatively low activity, but strategic acquisitions are likely to increase in the forecast period. Estimated M&A deal volume: xx deals in 2024, xx% increase predicted by 2033.
Africa Yogurt Industry Growth Trends & Insights
The African yogurt market demonstrates robust growth, driven by increasing disposable incomes, urbanization, and a rising awareness of health and wellness. The market size, valued at xx million units in 2024, is projected to reach xx million units by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of xx% during the forecast period. Adoption rates vary significantly across regions, with higher penetration in urban areas and among the middle to upper-income segments. Technological disruptions, such as improved packaging and distribution networks, contribute significantly to market expansion. Consumer behavior is shifting towards healthier, more convenient, and diverse yogurt options, driving the growth of flavored and functional varieties. Market penetration, currently at xx% in key markets, is expected to grow significantly as consumer awareness increases.

Dominant Regions, Countries, or Segments in Africa Yogurt Industry
The African yogurt market shows varied growth across regions and segments. South Africa, Nigeria, and Kenya are currently leading the market due to a combination of higher disposable incomes and established distribution networks. Within product categories, Dairy-based yogurt commands the largest market share (xx%), followed by flavored yogurt (xx%) in the type segment, and Supermarkets/Hypermarkets (xx%) in the distribution channel segment. Non-dairy yogurt is a growing segment, capitalizing on increasing consumer demand for plant-based alternatives. Online channels are showing remarkable growth potential, especially in urban areas.
Key Drivers:
- South Africa: Strong retail infrastructure and higher per capita income.
- Nigeria: Large population and increasing consumer spending.
- Kenya: Growing middle class and increased health consciousness.
- Dairy-based Yogurt: Established preference and wider availability.
- Flavored Yogurt: Appealing to a broader consumer base.
- Supermarkets/Hypermarkets: Established distribution channels and reach.
Dominance Factors: Market size, purchasing power, consumer preferences, and distribution infrastructure significantly influence market dominance within each segment.
Africa Yogurt Industry Product Landscape
The African yogurt market offers a diverse product landscape. Innovations focus on enhancing taste, texture, and nutritional value. Functional yogurts, enriched with probiotics, vitamins, or protein, are gaining popularity. Convenient packaging formats, like single-serve cups and pouches, cater to on-the-go consumption. Unique selling propositions include taste profiles tailored to local preferences, as well as affordability and accessibility. Technological advancements in production and preservation enhance product shelf life and quality.
Key Drivers, Barriers & Challenges in Africa Yogurt Industry
Key Drivers: Rising disposable incomes, increased health consciousness, growing urbanization, and expanding retail infrastructure are major growth catalysts. The introduction of innovative product formats and flavors is also driving demand.
Key Challenges: Fluctuating raw material prices, supply chain inefficiencies, particularly in remote areas, and competition from traditional fermented milk products and local brands pose significant challenges. Regulatory inconsistencies across different countries also create difficulties for market expansion. Estimated impact of supply chain issues: xx% reduction in production efficiency in some regions.
Emerging Opportunities in Africa Yogurt Industry
Untapped markets in rural areas, growth of the plant-based yogurt segment, and increasing demand for specialized yogurts (probiotic, high protein) present significant opportunities. Leveraging digital marketing to reach a wider consumer base can further propel market growth.
Growth Accelerators in the Africa Yogurt Industry
Technological advancements in production, innovative product development targeted at specific consumer needs, and strategic partnerships between local and international players are crucial for accelerating growth. Expansion into new geographic regions and investment in cold chain infrastructure will further enhance market potential.
Key Players Shaping the Africa Yogurt Industry Market
- Nestle SA
- Danone Southern Africa (Pty) Ltd
- Fage
- Yakult Honsha Co Ltd
- Sodial SA
- Parmalat Canada
- Kraft foods group Inc
- Viju Industries Nigeria Limited
- General Mills
- Chobani Inc
Notable Milestones in Africa Yogurt Industry Sector
- April 2021: General Mills launched Ratio: Protein yogurt, focusing on high protein content.
- June 2021: General Mills and Mars Inc. launched Yoplait Skittles yogurt, a limited-edition flavor.
- 2021: Chobani LLC introduced new zero-sugar yogurt flavors (Mixed Berry and Strawberry).
In-Depth Africa Yogurt Industry Market Outlook
The African yogurt market holds immense long-term potential, fueled by a young and growing population, rising incomes, and evolving consumer preferences. Strategic investments in infrastructure, innovation, and marketing will be key to unlocking this potential. The focus on health and wellness, combined with the introduction of locally adapted products, will shape the future of the industry.
Africa Yogurt Industry Segmentation
-
1. Category
- 1.1. Dairy-based Yogurt
- 1.2. Non-dairy-based Yogurt
-
2. Type
- 2.1. Plain Yogurt
- 2.2. Flavored Yogurt
-
3. Distribution Channel
- 3.1. Supermarkets/Hypermarkets
- 3.2. Convenience Stores
- 3.3. Specialty Stores
- 3.4. Online Stores
- 3.5. Other Distribution Channels
-
4. Geography
- 4.1. South Africa
- 4.2. Nigeria
- 4.3. Egypt
- 4.4. Rest of Africa
Africa Yogurt Industry Segmentation By Geography
- 1. South Africa
- 2. Nigeria
- 3. Egypt
- 4. Rest of Africa

Africa Yogurt Industry REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.06% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1 Introduction of new flavors
- 3.2.2 formulations
- 3.2.3 and types of yogurt
- 3.2.4 including low-fat
- 3.2.5 Greek yogurt
- 3.2.6 and yogurt with added probiotics
- 3.2.7 caters to diverse consumer preferences.
- 3.3. Market Restrains
- 3.3.1 Inadequate infrastructure and logistical issues in some regions can hinder the efficient distribution of yogurt products
- 3.3.2 particularly in rural areas.
- 3.4. Market Trends
- 3.4.1 Growing demand for functional and fortified yogurt products with added health benefits
- 3.4.2 such as probiotics and reduced sugar content.
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Category
- 5.1.1. Dairy-based Yogurt
- 5.1.2. Non-dairy-based Yogurt
- 5.2. Market Analysis, Insights and Forecast - by Type
- 5.2.1. Plain Yogurt
- 5.2.2. Flavored Yogurt
- 5.3. Market Analysis, Insights and Forecast - by Distribution Channel
- 5.3.1. Supermarkets/Hypermarkets
- 5.3.2. Convenience Stores
- 5.3.3. Specialty Stores
- 5.3.4. Online Stores
- 5.3.5. Other Distribution Channels
- 5.4. Market Analysis, Insights and Forecast - by Geography
- 5.4.1. South Africa
- 5.4.2. Nigeria
- 5.4.3. Egypt
- 5.4.4. Rest of Africa
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1. South Africa
- 5.5.2. Nigeria
- 5.5.3. Egypt
- 5.5.4. Rest of Africa
- 5.1. Market Analysis, Insights and Forecast - by Category
- 6. South Africa Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 6.1. Market Analysis, Insights and Forecast - by Category
- 6.1.1. Dairy-based Yogurt
- 6.1.2. Non-dairy-based Yogurt
- 6.2. Market Analysis, Insights and Forecast - by Type
- 6.2.1. Plain Yogurt
- 6.2.2. Flavored Yogurt
- 6.3. Market Analysis, Insights and Forecast - by Distribution Channel
- 6.3.1. Supermarkets/Hypermarkets
- 6.3.2. Convenience Stores
- 6.3.3. Specialty Stores
- 6.3.4. Online Stores
- 6.3.5. Other Distribution Channels
- 6.4. Market Analysis, Insights and Forecast - by Geography
- 6.4.1. South Africa
- 6.4.2. Nigeria
- 6.4.3. Egypt
- 6.4.4. Rest of Africa
- 6.1. Market Analysis, Insights and Forecast - by Category
- 7. Nigeria Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 7.1. Market Analysis, Insights and Forecast - by Category
- 7.1.1. Dairy-based Yogurt
- 7.1.2. Non-dairy-based Yogurt
- 7.2. Market Analysis, Insights and Forecast - by Type
- 7.2.1. Plain Yogurt
- 7.2.2. Flavored Yogurt
- 7.3. Market Analysis, Insights and Forecast - by Distribution Channel
- 7.3.1. Supermarkets/Hypermarkets
- 7.3.2. Convenience Stores
- 7.3.3. Specialty Stores
- 7.3.4. Online Stores
- 7.3.5. Other Distribution Channels
- 7.4. Market Analysis, Insights and Forecast - by Geography
- 7.4.1. South Africa
- 7.4.2. Nigeria
- 7.4.3. Egypt
- 7.4.4. Rest of Africa
- 7.1. Market Analysis, Insights and Forecast - by Category
- 8. Egypt Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 8.1. Market Analysis, Insights and Forecast - by Category
- 8.1.1. Dairy-based Yogurt
- 8.1.2. Non-dairy-based Yogurt
- 8.2. Market Analysis, Insights and Forecast - by Type
- 8.2.1. Plain Yogurt
- 8.2.2. Flavored Yogurt
- 8.3. Market Analysis, Insights and Forecast - by Distribution Channel
- 8.3.1. Supermarkets/Hypermarkets
- 8.3.2. Convenience Stores
- 8.3.3. Specialty Stores
- 8.3.4. Online Stores
- 8.3.5. Other Distribution Channels
- 8.4. Market Analysis, Insights and Forecast - by Geography
- 8.4.1. South Africa
- 8.4.2. Nigeria
- 8.4.3. Egypt
- 8.4.4. Rest of Africa
- 8.1. Market Analysis, Insights and Forecast - by Category
- 9. Rest of Africa Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 9.1. Market Analysis, Insights and Forecast - by Category
- 9.1.1. Dairy-based Yogurt
- 9.1.2. Non-dairy-based Yogurt
- 9.2. Market Analysis, Insights and Forecast - by Type
- 9.2.1. Plain Yogurt
- 9.2.2. Flavored Yogurt
- 9.3. Market Analysis, Insights and Forecast - by Distribution Channel
- 9.3.1. Supermarkets/Hypermarkets
- 9.3.2. Convenience Stores
- 9.3.3. Specialty Stores
- 9.3.4. Online Stores
- 9.3.5. Other Distribution Channels
- 9.4. Market Analysis, Insights and Forecast - by Geography
- 9.4.1. South Africa
- 9.4.2. Nigeria
- 9.4.3. Egypt
- 9.4.4. Rest of Africa
- 9.1. Market Analysis, Insights and Forecast - by Category
- 10. South Africa Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 11. Sudan Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 12. Uganda Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 13. Tanzania Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 14. Kenya Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 15. Rest of Africa Africa Yogurt Industry Analysis, Insights and Forecast, 2019-2031
- 16. Competitive Analysis
- 16.1. Market Share Analysis 2024
- 16.2. Company Profiles
- 16.2.1 Nestle SA
- 16.2.1.1. Overview
- 16.2.1.2. Products
- 16.2.1.3. SWOT Analysis
- 16.2.1.4. Recent Developments
- 16.2.1.5. Financials (Based on Availability)
- 16.2.2 Danone Southern Africa (Pty) Ltd
- 16.2.2.1. Overview
- 16.2.2.2. Products
- 16.2.2.3. SWOT Analysis
- 16.2.2.4. Recent Developments
- 16.2.2.5. Financials (Based on Availability)
- 16.2.3 Fage
- 16.2.3.1. Overview
- 16.2.3.2. Products
- 16.2.3.3. SWOT Analysis
- 16.2.3.4. Recent Developments
- 16.2.3.5. Financials (Based on Availability)
- 16.2.4 Yakult Honsha Co Ltd
- 16.2.4.1. Overview
- 16.2.4.2. Products
- 16.2.4.3. SWOT Analysis
- 16.2.4.4. Recent Developments
- 16.2.4.5. Financials (Based on Availability)
- 16.2.5 Sodial SA
- 16.2.5.1. Overview
- 16.2.5.2. Products
- 16.2.5.3. SWOT Analysis
- 16.2.5.4. Recent Developments
- 16.2.5.5. Financials (Based on Availability)
- 16.2.6 Parmalat Canada
- 16.2.6.1. Overview
- 16.2.6.2. Products
- 16.2.6.3. SWOT Analysis
- 16.2.6.4. Recent Developments
- 16.2.6.5. Financials (Based on Availability)
- 16.2.7 Kraft foods group Inc
- 16.2.7.1. Overview
- 16.2.7.2. Products
- 16.2.7.3. SWOT Analysis
- 16.2.7.4. Recent Developments
- 16.2.7.5. Financials (Based on Availability)
- 16.2.8 Viju Industries Nigeria Limited
- 16.2.8.1. Overview
- 16.2.8.2. Products
- 16.2.8.3. SWOT Analysis
- 16.2.8.4. Recent Developments
- 16.2.8.5. Financials (Based on Availability)
- 16.2.9 General Mills
- 16.2.9.1. Overview
- 16.2.9.2. Products
- 16.2.9.3. SWOT Analysis
- 16.2.9.4. Recent Developments
- 16.2.9.5. Financials (Based on Availability)
- 16.2.10 Chobani Inc
- 16.2.10.1. Overview
- 16.2.10.2. Products
- 16.2.10.3. SWOT Analysis
- 16.2.10.4. Recent Developments
- 16.2.10.5. Financials (Based on Availability)
- 16.2.1 Nestle SA
List of Figures
- Figure 1: Africa Yogurt Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Africa Yogurt Industry Share (%) by Company 2024
List of Tables
- Table 1: Africa Yogurt Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Africa Yogurt Industry Revenue Million Forecast, by Category 2019 & 2032
- Table 3: Africa Yogurt Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 4: Africa Yogurt Industry Revenue Million Forecast, by Distribution Channel 2019 & 2032
- Table 5: Africa Yogurt Industry Revenue Million Forecast, by Geography 2019 & 2032
- Table 6: Africa Yogurt Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 7: Africa Yogurt Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 8: South Africa Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 9: Sudan Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 10: Uganda Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 11: Tanzania Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 12: Kenya Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 13: Rest of Africa Africa Yogurt Industry Revenue (Million) Forecast, by Application 2019 & 2032
- Table 14: Africa Yogurt Industry Revenue Million Forecast, by Category 2019 & 2032
- Table 15: Africa Yogurt Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 16: Africa Yogurt Industry Revenue Million Forecast, by Distribution Channel 2019 & 2032
- Table 17: Africa Yogurt Industry Revenue Million Forecast, by Geography 2019 & 2032
- Table 18: Africa Yogurt Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 19: Africa Yogurt Industry Revenue Million Forecast, by Category 2019 & 2032
- Table 20: Africa Yogurt Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 21: Africa Yogurt Industry Revenue Million Forecast, by Distribution Channel 2019 & 2032
- Table 22: Africa Yogurt Industry Revenue Million Forecast, by Geography 2019 & 2032
- Table 23: Africa Yogurt Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 24: Africa Yogurt Industry Revenue Million Forecast, by Category 2019 & 2032
- Table 25: Africa Yogurt Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 26: Africa Yogurt Industry Revenue Million Forecast, by Distribution Channel 2019 & 2032
- Table 27: Africa Yogurt Industry Revenue Million Forecast, by Geography 2019 & 2032
- Table 28: Africa Yogurt Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 29: Africa Yogurt Industry Revenue Million Forecast, by Category 2019 & 2032
- Table 30: Africa Yogurt Industry Revenue Million Forecast, by Type 2019 & 2032
- Table 31: Africa Yogurt Industry Revenue Million Forecast, by Distribution Channel 2019 & 2032
- Table 32: Africa Yogurt Industry Revenue Million Forecast, by Geography 2019 & 2032
- Table 33: Africa Yogurt Industry Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Africa Yogurt Industry?
The projected CAGR is approximately 6.06%.
2. Which companies are prominent players in the Africa Yogurt Industry?
Key companies in the market include Nestle SA, Danone Southern Africa (Pty) Ltd, Fage, Yakult Honsha Co Ltd, Sodial SA, Parmalat Canada, Kraft foods group Inc, Viju Industries Nigeria Limited, General Mills, Chobani Inc.
3. What are the main segments of the Africa Yogurt Industry?
The market segments include Category, Type, Distribution Channel, Geography.
4. Can you provide details about the market size?
The market size is estimated to be USD 1.48 Million as of 2022.
5. What are some drivers contributing to market growth?
Introduction of new flavors. formulations. and types of yogurt. including low-fat. Greek yogurt. and yogurt with added probiotics. caters to diverse consumer preferences..
6. What are the notable trends driving market growth?
Growing demand for functional and fortified yogurt products with added health benefits. such as probiotics and reduced sugar content..
7. Are there any restraints impacting market growth?
Inadequate infrastructure and logistical issues in some regions can hinder the efficient distribution of yogurt products. particularly in rural areas..
8. Can you provide examples of recent developments in the market?
In 2021, Chobani LLC launched new flavors of zero sugar yogurt. According to the company, these new flavors are Mixed Berry and Strawberry, respectively. The strategy behind the new launch and product innovation is to offer consumers a sugar-free product so that the company can target diabetic patients, and also this specific strategy will enable the company to expand the business and enlarge the company's product portfolio.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Africa Yogurt Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Africa Yogurt Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Africa Yogurt Industry?
To stay informed about further developments, trends, and reports in the Africa Yogurt Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence