Animal Probiotics Market Drivers and Opportunities [2031]
The Animal Probiotics Market is expected to register a CAGR of 9.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Animal Probiotics Market report covers analysis By Source (Bacteria, Yeast, Fungi); Form (Dry, Liquid), and Livestock (Swine, Poultry, Ruminants, Aquaculture, Others). The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Animal Probiotics Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Animal Probiotics Market Segmentation
Source- Bacteria
- Yeast
- Fungi
- Dry
- Liquid;
- Swine
- Poultry
- Ruminants
- Aquaculture
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Animal Probiotics Market Growth Drivers- Sustainability Drives Animal Probiotics Growth: As sustainability becomes a dominant animal probiotics market trend, more farms begin to apply these solutions. It is reflected in the market analysis reports that there is an extraordinary rise in the market share of the global market dominated by natural feed products.
- Rising Animal Health Awareness Fuels Market: With increased knowledge about animal health and wellness, the global market for animal probiotics is being propelled. Today, more producers of livestock are realizing the role of probiotics in disease prevention and, at the same time, cutting medication requirements, thus improving the quality of animal products. animal probiotic market report have shown that using probiotics has been a trend in many areas, especially North America and Europe. Market sizes regarding animal health supplements, such as probiotics, are growing because preventive health measures are gaining ground in the farming sector.
- Poultry and Aquaculture Industries Drive Demand: The poultry and aquaculture industries have recently become one of the significant drivers in the animal probiotics market. As per recent market reports, these sectors have come forward as a larger portion of the global market, as probiotics help in the productivity of the regions but sustain the livestock farming sector at a pace aligned with the growth pattern of the global animal probiotic market.
- Custom Probiotic Products Gaining Popularity: Animal probiotics is growing at a rapid pace due to fast movement in the market dynamics. Custom products developed for particular species are in greater demand, which can benefit more, and are getting adopted at higher rates. PEST analysis is based on growing levels of concern about regional regulatory frameworks influencing animal probiotic market growth.
- Gut Health Focus Boosts Probiotics Use: Awareness of the potential of animal probiotics to support gut health in livestock has been one of the factors that continues to gain momentum and importance regarding better performance in livestock. The market dynamics indicate a rise in gut health-oriented products, where farmers have increasingly resorted to using probiotics to reduce feed costs and enhance the immunity levels among animals.
- Regulatory Changes Impact Probiotics Market: Animal probiotics is somewhat impacted by regulation changes across regions, especially in North America and Europe. PEST analysis has identified tight policies to reduce antibiotic use in animal farming, making key players re-strategize their market strategies.
- Shift Toward Organic, Antibiotic-Free Meat: Organic and antibiotic-free meat provides a huge opportunity for growth in the animal probiotics market, since consumers are shifting towards such preferences. Probiotics offer an all-natural way of keeping animals healthy without the use of antibiotics to achieve a clean label of growing demand. Competitive analysis indicates that companies focused in the organic meat supply chain would be able to benefit from this trend, mainly in North America, where organic food sales are rising steadily across different geographies.
- Veterinary Partnerships Enhance Brand Credibility: Partnership with veterinary health associations can be an important strategy for awareness and credibility of a product. Veterinary practitioners' endorsements will further help with access into poultry and cattle markets. Competitive analysis indicates that partnerships with key industry influencers, particularly in North America, are healthy for brand attitude and customer trust among farmers and are therefore an enormous growth opportunity based on the dynamic environment of the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Animal Probiotics Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Animal Probiotics Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Bluestar Adisseo Company, Calpis Co Ltd, Chr Hansen Holding A S, DSM, DuPont de Nemours Inc, Evonik Industries AG, Kerry Group, Lallemand Lesaffre
Key future trends in this market are - Increase in pet health awareness, Growth in livestock probiotics, Demand for natural feed solutions
The Animal Probiotics Market is expected to register a CAGR of 9.2% from 2023-2031.
The major factors impacting the Animal Probiotics Market are: Rising Demand for Natural Feed Additives, Increased Awareness of Animal Health, and Expansion of the Poultry and Aquaculture Sectors
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Animal Probiotics Market - By Source
1.3.2 Animal Probiotics Market - By Form
1.3.3 Animal Probiotics Market - By Livestock
1.3.4 Animal Probiotics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ANIMAL PROBIOTICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. ANIMAL PROBIOTICS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ANIMAL PROBIOTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. ANIMAL PROBIOTICS - GLOBAL MARKET OVERVIEW
6.2. ANIMAL PROBIOTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ANIMAL PROBIOTICS MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
7.1. OVERVIEW
7.2. SOURCE MARKET FORECASTS AND ANALYSIS
7.3. BACTERIA
7.3.1. Overview
7.3.2. Bacteria Market Forecast and Analysis
7.4. YEAST
7.4.1. Overview
7.4.2. Yeast Market Forecast and Analysis
7.5. FUNGI
7.5.1. Overview
7.5.2. Fungi Market Forecast and Analysis
8. ANIMAL PROBIOTICS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. DRY
8.3.1. Overview
8.3.2. Dry Market Forecast and Analysis
8.4. LIQUID
8.4.1. Overview
8.4.2. Liquid Market Forecast and Analysis
9. ANIMAL PROBIOTICS MARKET - REVENUE AND FORECASTS TO 2028 - LIVESTOCK
9.1. OVERVIEW
9.2. LIVESTOCK MARKET FORECASTS AND ANALYSIS
9.3. SWINE
9.3.1. Overview
9.3.2. Swine Market Forecast and Analysis
9.4. POULTRY
9.4.1. Overview
9.4.2. Poultry Market Forecast and Analysis
9.5. RUMINANTS
9.5.1. Overview
9.5.2. Ruminants Market Forecast and Analysis
9.6. AQUACULTURE
9.6.1. Overview
9.6.2. Aquaculture Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. ANIMAL PROBIOTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Animal Probiotics Market Overview
10.1.2 North America Animal Probiotics Market Forecasts and Analysis
10.1.3 North America Animal Probiotics Market Forecasts and Analysis - By Source
10.1.4 North America Animal Probiotics Market Forecasts and Analysis - By Form
10.1.5 North America Animal Probiotics Market Forecasts and Analysis - By Livestock
10.1.6 North America Animal Probiotics Market Forecasts and Analysis - By Countries
10.1.6.1 United States Animal Probiotics Market
10.1.6.1.1 United States Animal Probiotics Market by Source
10.1.6.1.2 United States Animal Probiotics Market by Form
10.1.6.1.3 United States Animal Probiotics Market by Livestock
10.1.6.2 Canada Animal Probiotics Market
10.1.6.2.1 Canada Animal Probiotics Market by Source
10.1.6.2.2 Canada Animal Probiotics Market by Form
10.1.6.2.3 Canada Animal Probiotics Market by Livestock
10.1.6.3 Mexico Animal Probiotics Market
10.1.6.3.1 Mexico Animal Probiotics Market by Source
10.1.6.3.2 Mexico Animal Probiotics Market by Form
10.1.6.3.3 Mexico Animal Probiotics Market by Livestock
10.2. EUROPE
10.2.1 Europe Animal Probiotics Market Overview
10.2.2 Europe Animal Probiotics Market Forecasts and Analysis
10.2.3 Europe Animal Probiotics Market Forecasts and Analysis - By Source
10.2.4 Europe Animal Probiotics Market Forecasts and Analysis - By Form
10.2.5 Europe Animal Probiotics Market Forecasts and Analysis - By Livestock
10.2.6 Europe Animal Probiotics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Animal Probiotics Market
10.2.6.1.1 Germany Animal Probiotics Market by Source
10.2.6.1.2 Germany Animal Probiotics Market by Form
10.2.6.1.3 Germany Animal Probiotics Market by Livestock
10.2.6.2 France Animal Probiotics Market
10.2.6.2.1 France Animal Probiotics Market by Source
10.2.6.2.2 France Animal Probiotics Market by Form
10.2.6.2.3 France Animal Probiotics Market by Livestock
10.2.6.3 Italy Animal Probiotics Market
10.2.6.3.1 Italy Animal Probiotics Market by Source
10.2.6.3.2 Italy Animal Probiotics Market by Form
10.2.6.3.3 Italy Animal Probiotics Market by Livestock
10.2.6.4 United Kingdom Animal Probiotics Market
10.2.6.4.1 United Kingdom Animal Probiotics Market by Source
10.2.6.4.2 United Kingdom Animal Probiotics Market by Form
10.2.6.4.3 United Kingdom Animal Probiotics Market by Livestock
10.2.6.5 Russia Animal Probiotics Market
10.2.6.5.1 Russia Animal Probiotics Market by Source
10.2.6.5.2 Russia Animal Probiotics Market by Form
10.2.6.5.3 Russia Animal Probiotics Market by Livestock
10.2.6.6 Rest of Europe Animal Probiotics Market
10.2.6.6.1 Rest of Europe Animal Probiotics Market by Source
10.2.6.6.2 Rest of Europe Animal Probiotics Market by Form
10.2.6.6.3 Rest of Europe Animal Probiotics Market by Livestock
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Animal Probiotics Market Overview
10.3.2 Asia-Pacific Animal Probiotics Market Forecasts and Analysis
10.3.3 Asia-Pacific Animal Probiotics Market Forecasts and Analysis - By Source
10.3.4 Asia-Pacific Animal Probiotics Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Animal Probiotics Market Forecasts and Analysis - By Livestock
10.3.6 Asia-Pacific Animal Probiotics Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Animal Probiotics Market
10.3.6.1.1 Australia Animal Probiotics Market by Source
10.3.6.1.2 Australia Animal Probiotics Market by Form
10.3.6.1.3 Australia Animal Probiotics Market by Livestock
10.3.6.2 China Animal Probiotics Market
10.3.6.2.1 China Animal Probiotics Market by Source
10.3.6.2.2 China Animal Probiotics Market by Form
10.3.6.2.3 China Animal Probiotics Market by Livestock
10.3.6.3 India Animal Probiotics Market
10.3.6.3.1 India Animal Probiotics Market by Source
10.3.6.3.2 India Animal Probiotics Market by Form
10.3.6.3.3 India Animal Probiotics Market by Livestock
10.3.6.4 Japan Animal Probiotics Market
10.3.6.4.1 Japan Animal Probiotics Market by Source
10.3.6.4.2 Japan Animal Probiotics Market by Form
10.3.6.4.3 Japan Animal Probiotics Market by Livestock
10.3.6.5 South Korea Animal Probiotics Market
10.3.6.5.1 South Korea Animal Probiotics Market by Source
10.3.6.5.2 South Korea Animal Probiotics Market by Form
10.3.6.5.3 South Korea Animal Probiotics Market by Livestock
10.3.6.6 Rest of Asia-Pacific Animal Probiotics Market
10.3.6.6.1 Rest of Asia-Pacific Animal Probiotics Market by Source
10.3.6.6.2 Rest of Asia-Pacific Animal Probiotics Market by Form
10.3.6.6.3 Rest of Asia-Pacific Animal Probiotics Market by Livestock
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Animal Probiotics Market Overview
10.4.2 Middle East and Africa Animal Probiotics Market Forecasts and Analysis
10.4.3 Middle East and Africa Animal Probiotics Market Forecasts and Analysis - By Source
10.4.4 Middle East and Africa Animal Probiotics Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Animal Probiotics Market Forecasts and Analysis - By Livestock
10.4.6 Middle East and Africa Animal Probiotics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Animal Probiotics Market
10.4.6.1.1 South Africa Animal Probiotics Market by Source
10.4.6.1.2 South Africa Animal Probiotics Market by Form
10.4.6.1.3 South Africa Animal Probiotics Market by Livestock
10.4.6.2 Saudi Arabia Animal Probiotics Market
10.4.6.2.1 Saudi Arabia Animal Probiotics Market by Source
10.4.6.2.2 Saudi Arabia Animal Probiotics Market by Form
10.4.6.2.3 Saudi Arabia Animal Probiotics Market by Livestock
10.4.6.3 U.A.E Animal Probiotics Market
10.4.6.3.1 U.A.E Animal Probiotics Market by Source
10.4.6.3.2 U.A.E Animal Probiotics Market by Form
10.4.6.3.3 U.A.E Animal Probiotics Market by Livestock
10.4.6.4 Rest of Middle East and Africa Animal Probiotics Market
10.4.6.4.1 Rest of Middle East and Africa Animal Probiotics Market by Source
10.4.6.4.2 Rest of Middle East and Africa Animal Probiotics Market by Form
10.4.6.4.3 Rest of Middle East and Africa Animal Probiotics Market by Livestock
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Animal Probiotics Market Overview
10.5.2 South and Central America Animal Probiotics Market Forecasts and Analysis
10.5.3 South and Central America Animal Probiotics Market Forecasts and Analysis - By Source
10.5.4 South and Central America Animal Probiotics Market Forecasts and Analysis - By Form
10.5.5 South and Central America Animal Probiotics Market Forecasts and Analysis - By Livestock
10.5.6 South and Central America Animal Probiotics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Animal Probiotics Market
10.5.6.1.1 Brazil Animal Probiotics Market by Source
10.5.6.1.2 Brazil Animal Probiotics Market by Form
10.5.6.1.3 Brazil Animal Probiotics Market by Livestock
10.5.6.2 Argentina Animal Probiotics Market
10.5.6.2.1 Argentina Animal Probiotics Market by Source
10.5.6.2.2 Argentina Animal Probiotics Market by Form
10.5.6.2.3 Argentina Animal Probiotics Market by Livestock
10.5.6.3 Rest of South and Central America Animal Probiotics Market
10.5.6.3.1 Rest of South and Central America Animal Probiotics Market by Source
10.5.6.3.2 Rest of South and Central America Animal Probiotics Market by Form
10.5.6.3.3 Rest of South and Central America Animal Probiotics Market by Livestock
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ANIMAL PROBIOTICS MARKET, KEY COMPANY PROFILES
12.1. BLUESTAR ADISSEO COMPANY
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. CALPIS CO., LTD.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CHR. HANSEN HOLDING A/S
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. DSM
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DUPONT DE NEMOURS, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EVONIK INDUSTRIES AG
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. KERRY GROUP
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. LALLEMAND
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. LESAFFRE
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. NOVOZYMES A/S
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Bluestar Adisseo Company
2. Calpis Co., Ltd.
3. Chr. Hansen Holding A/S
4. DSM
5. DuPont de Nemours, Inc.
6. Evonik Industries AG
7. Kerry Group
8. Lallemand
9. Lesaffre
10. Novozymes A/S
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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