The rate at which a market’s size is increasing. This is usually expressed as a percentage per annum.
Market growth comparisons are a primary barometer of the progress of a business.
The market growth rate is a key factor to be considered when calculating the development of a specific product in a particular market. Commonly marketers create a marketing campaign founded primarily on maximising a specific market’s growth rate. This can be achieved through comprehensive advertising to allow consumers better awareness of the product or greater perceived understanding of their need for that product.