This study covers the latent demand outlook for tofu and tofu ingredients across the granular markets of Iceland. A granular market, often referred to as a "populated place", includes core cities, suburbs, officially designated neighborhoods, villages, towns and/or hamlets. Many larger cities, therefore, have been divided into more granular entities, or are disaggregated to a very local level. Latent demand (in millions of U.S. dollars), or potential industry earnings (P.I.E.) estimates are given across markets in Iceland. For each granular market in question, the percent share the market is of Iceland as a whole is reported. These comparative benchmarks allow the reader to quickly gauge a market vis-à-vis others. This statistical approach can prove very useful to distribution and/or sales force strategies. Using econometric models which project fundamental economic dynamics within each market, latent demand estimates are created for tofu and tofu ingredients. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

In this report we define the sales of tofu and tofu ingredients as including all commonly understood products and/or services falling within this broad category, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include 'Ai' Premium Tofu Mfg.Co.LLP, Amy's Kitchen, Archer Daniels Midland Company, Beyond Meat, Bio Nutrients (India) Pvt, Ltd., DowDuPont, Eden Foods, Gardein, Hain Celestial Group, House Foods America Corporation, INVIGORATE FOODS, Kikkoman, Kong Kee Food Corporation, Marlow Foods, Meatless, MGP Ingredients, Morinaga, Morningstar Farms L.C, Nasoya Foods USA, LLC., Pulmuone Foods USA, Quorn Foods, Schouten, Sonic Biochem Extraction Pvt., Soyarich Foods – Tofu, Surata Soy Foods, The Nisshin OilliO Group, Tofurky., TONZU, VBites Foods, and VITASOY. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2024).

This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all granular markets in Iceland). This study gives, however, Professor Parker's estimates for the latent demand, or potential industry earnings (P.I.E.), for tofu and tofu ingredients in Iceland. It also shows how the P.I.E. is divided and concentrated across the granular markets of Iceland (e.g., cities, towns, villages, etc.). For each granular market, he also shows his estimates of how the P.I.E. grows over time. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on strategic planning at graduate schools of business.

• 1INTRODUCTION
• 1.1OVERVIEW
• 1.2WHAT IS LATENT DEMAND AND THE P.I.E.?
• 1.3THE METHODOLOGY
• 1.3.1STEP 1. PRODUCT DEFINITION AND DATA COLLECTION
• 1.3.2STEP 2. FILTERING AND SMOOTHING
• 1.3.3STEP 3. FILLING IN MISSING VALUES
• 1.3.4STEP 4. VARYING PARAMETER, NON-LINEAR ESTIMATION
• 1.3.5STEP 5. FIXED-PARAMETER LINEAR ESTIMATION
• 1.3.6STEP 6. AGGREGATION AND BENCHMARKING
• 1.4FREQUENTLY ASKED QUESTIONS (FAQ)
• 1.4.1CATEGORY DEFINITION
• 1.4.2UNITS
• 1.4.3METHODOLOGY
• 2GRANULAR FINDINGS
• 2.1LATENT DEMAND IN ICELAND - GRANULAR MARKETS SORTED BY RANK
• 2.2LATENT DEMAND IN ICELAND - GRANULAR MARKETS SORTED ALPHABETICALLY
• 2.3LATENT DEMAND BY YEAR IN ICELAND
• 3DISCLAIMERS, WARRANTIES, AND USER AGREEMENT PROVISIONS
• 3.1DISCLAIMERS & SAFE HARBOR
• 3.2ICON GROUP INTERNATIONAL, INC. USER AGREEMENT PROVISIONS