Animal Protein Market Scope and Size by 2031
Animal protein is considered as a type of protein ingredient which is specifically obtained from the sources such as egg, fish, dairy, and others. Animal protein is widely utilized in food & beverage, cosmetics, also and nutraceuticals industries in the form of a foaming agent, emulsification, and others. There are several variants of animal protein available in the market, which include egg protein, fish protein, gelatin, also dairy protein. The growing consumer consciousness towards health, along with the growing awareness about the importance of protein-rich foods in the muscle building as well as weight management, are the major forces driving the animal protein market.
MARKET SCOPE
The "Global Animal Protein Market Analysis to 2031" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the animal protein market with detailed market segmentation by source, form, application, and geography. The report provides key statistics on the market status of the leading animal protein market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on source, the global animal protein market is segmented into egg, dairy, and others
- Based on form, the market is bifurcated into solid and liquid
- Based on application, the market is bifurcated into food and beverages, pharmaceuticals and nutraceuticals, personal care, animal feed
MARKET DYNAMICS
Drivers:
- Increasing in demand for infant formula drives the demand for animal protein such as dairy protein
- Growing demand for animal protein from cosmetics and personal care industry
- Increase in demand for protein supplement
Restraints
- Implementation of stringent rules about animal-origin food additives and increased demand for plant-based proteins
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The animal protein market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the animal protein market in these regions.
IMPACT OF COVID-19 ON ANIMAL PROTEIN MARKET
As of July 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the animal protein market. However, as the economies are planning to revive their operations, the demand for animal protein is presumed to rise since consumers are buying food products through online retailers. In addition, food & beverage producing companies are also taking some safety measures to fight the coronavirus, which include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The animal protein market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the animal protein market in these regions.
IMPACT OF COVID-19 ON ANIMAL PROTEIN MARKET
As of July 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the animal protein market. However, as the economies are planning to revive their operations, the demand for animal protein is presumed to rise since consumers are buying food products through online retailers. In addition, food & beverage producing companies are also taking some safety measures to fight the coronavirus, which include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
MARKET PLAYERS
The report covers key developments in the animal protein market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from animal protein market are anticipated to witness lucrative growth opportunities in the future with the rising demand for animal protein in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the animal protein market. In addition, the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last 3 years, the key developments in the last five years.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Animal Protein Market - By Source
1.3.2 Animal Protein Market - By Form
1.3.3 Animal Protein Market - By Application
1.3.4 Animal Protein Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ANIMAL PROTEIN MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ANIMAL PROTEIN 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 PROTEIN MARKET - GLOBAL MARKET ANALYSIS
6.1. ANIMAL PROTEIN - GLOBAL MARKET OVERVIEW
6.2. ANIMAL PROTEIN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ANIMAL PROTEIN MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
7.1. OVERVIEW
7.2. SOURCE MARKET FORECASTS AND ANALYSIS
7.3. EGG
7.3.1. Overview
7.3.2. Egg Market Forecast and Analysis
7.4. DAIRY
7.4.1. Overview
7.4.2. Dairy Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. ANIMAL PROTEIN MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. SOLID
8.3.1. Overview
8.3.2. Solid Market Forecast and Analysis
8.4. LIQUID
8.4.1. Overview
8.4.2. Liquid Market Forecast and Analysis
9. ANIMAL PROTEIN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. FOOD AND BEVERAGES
9.3.1. Overview
9.3.2. Food and beverages Market Forecast and Analysis
9.4. PHARMACEUTICALS AND NUTRACEUTICALS
9.4.1. Overview
9.4.2. Pharmaceuticals and nutraceuticals Market Forecast and Analysis
9.5. PERSONAL CARE
9.5.1. Overview
9.5.2. Personal Care Market Forecast and Analysis
9.6. ANIMAL FEED
9.6.1. Overview
9.6.2. Animal feed Market Forecast and Analysis
10. ANIMAL PROTEIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Animal Protein Market Overview
10.1.2 North America Animal Protein Market Forecasts and Analysis
10.1.3 North America Animal Protein Market Forecasts and Analysis - By Source
10.1.4 North America Animal Protein Market Forecasts and Analysis - By Form
10.1.5 North America Animal Protein Market Forecasts and Analysis - By Application
10.1.6 North America Animal Protein Market Forecasts and Analysis - By Countries
10.1.6.1 United States Animal Protein Market
10.1.6.1.1 United States Animal Protein Market by Source
10.1.6.1.2 United States Animal Protein Market by Form
10.1.6.1.3 United States Animal Protein Market by Application
10.1.6.2 Canada Animal Protein Market
10.1.6.2.1 Canada Animal Protein Market by Source
10.1.6.2.2 Canada Animal Protein Market by Form
10.1.6.2.3 Canada Animal Protein Market by Application
10.1.6.3 Mexico Animal Protein Market
10.1.6.3.1 Mexico Animal Protein Market by Source
10.1.6.3.2 Mexico Animal Protein Market by Form
10.1.6.3.3 Mexico Animal Protein Market by Application
10.2. EUROPE
10.2.1 Europe Animal Protein Market Overview
10.2.2 Europe Animal Protein Market Forecasts and Analysis
10.2.3 Europe Animal Protein Market Forecasts and Analysis - By Source
10.2.4 Europe Animal Protein Market Forecasts and Analysis - By Form
10.2.5 Europe Animal Protein Market Forecasts and Analysis - By Application
10.2.6 Europe Animal Protein Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Animal Protein Market
10.2.6.1.1 Germany Animal Protein Market by Source
10.2.6.1.2 Germany Animal Protein Market by Form
10.2.6.1.3 Germany Animal Protein Market by Application
10.2.6.2 France Animal Protein Market
10.2.6.2.1 France Animal Protein Market by Source
10.2.6.2.2 France Animal Protein Market by Form
10.2.6.2.3 France Animal Protein Market by Application
10.2.6.3 Italy Animal Protein Market
10.2.6.3.1 Italy Animal Protein Market by Source
10.2.6.3.2 Italy Animal Protein Market by Form
10.2.6.3.3 Italy Animal Protein Market by Application
10.2.6.4 United Kingdom Animal Protein Market
10.2.6.4.1 United Kingdom Animal Protein Market by Source
10.2.6.4.2 United Kingdom Animal Protein Market by Form
10.2.6.4.3 United Kingdom Animal Protein Market by Application
10.2.6.5 Russia Animal Protein Market
10.2.6.5.1 Russia Animal Protein Market by Source
10.2.6.5.2 Russia Animal Protein Market by Form
10.2.6.5.3 Russia Animal Protein Market by Application
10.2.6.6 Rest of Europe Animal Protein Market
10.2.6.6.1 Rest of Europe Animal Protein Market by Source
10.2.6.6.2 Rest of Europe Animal Protein Market by Form
10.2.6.6.3 Rest of Europe Animal Protein Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Animal Protein Market Overview
10.3.2 Asia-Pacific Animal Protein Market Forecasts and Analysis
10.3.3 Asia-Pacific Animal Protein Market Forecasts and Analysis - By Source
10.3.4 Asia-Pacific Animal Protein Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Animal Protein Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Animal Protein Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Animal Protein Market
10.3.6.1.1 Australia Animal Protein Market by Source
10.3.6.1.2 Australia Animal Protein Market by Form
10.3.6.1.3 Australia Animal Protein Market by Application
10.3.6.2 China Animal Protein Market
10.3.6.2.1 China Animal Protein Market by Source
10.3.6.2.2 China Animal Protein Market by Form
10.3.6.2.3 China Animal Protein Market by Application
10.3.6.3 India Animal Protein Market
10.3.6.3.1 India Animal Protein Market by Source
10.3.6.3.2 India Animal Protein Market by Form
10.3.6.3.3 India Animal Protein Market by Application
10.3.6.4 Japan Animal Protein Market
10.3.6.4.1 Japan Animal Protein Market by Source
10.3.6.4.2 Japan Animal Protein Market by Form
10.3.6.4.3 Japan Animal Protein Market by Application
10.3.6.5 South Korea Animal Protein Market
10.3.6.5.1 South Korea Animal Protein Market by Source
10.3.6.5.2 South Korea Animal Protein Market by Form
10.3.6.5.3 South Korea Animal Protein Market by Application
10.3.6.6 Rest of Asia-Pacific Animal Protein Market
10.3.6.6.1 Rest of Asia-Pacific Animal Protein Market by Source
10.3.6.6.2 Rest of Asia-Pacific Animal Protein Market by Form
10.3.6.6.3 Rest of Asia-Pacific Animal Protein Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Animal Protein Market Overview
10.4.2 Middle East and Africa Animal Protein Market Forecasts and Analysis
10.4.3 Middle East and Africa Animal Protein Market Forecasts and Analysis - By Source
10.4.4 Middle East and Africa Animal Protein Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Animal Protein Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Animal Protein Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Animal Protein Market
10.4.6.1.1 South Africa Animal Protein Market by Source
10.4.6.1.2 South Africa Animal Protein Market by Form
10.4.6.1.3 South Africa Animal Protein Market by Application
10.4.6.2 Saudi Arabia Animal Protein Market
10.4.6.2.1 Saudi Arabia Animal Protein Market by Source
10.4.6.2.2 Saudi Arabia Animal Protein Market by Form
10.4.6.2.3 Saudi Arabia Animal Protein Market by Application
10.4.6.3 U.A.E Animal Protein Market
10.4.6.3.1 U.A.E Animal Protein Market by Source
10.4.6.3.2 U.A.E Animal Protein Market by Form
10.4.6.3.3 U.A.E Animal Protein Market by Application
10.4.6.4 Rest of Middle East and Africa Animal Protein Market
10.4.6.4.1 Rest of Middle East and Africa Animal Protein Market by Source
10.4.6.4.2 Rest of Middle East and Africa Animal Protein Market by Form
10.4.6.4.3 Rest of Middle East and Africa Animal Protein Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Animal Protein Market Overview
10.5.2 South and Central America Animal Protein Market Forecasts and Analysis
10.5.3 South and Central America Animal Protein Market Forecasts and Analysis - By Source
10.5.4 South and Central America Animal Protein Market Forecasts and Analysis - By Form
10.5.5 South and Central America Animal Protein Market Forecasts and Analysis - By Application
10.5.6 South and Central America Animal Protein Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Animal Protein Market
10.5.6.1.1 Brazil Animal Protein Market by Source
10.5.6.1.2 Brazil Animal Protein Market by Form
10.5.6.1.3 Brazil Animal Protein Market by Application
10.5.6.2 Argentina Animal Protein Market
10.5.6.2.1 Argentina Animal Protein Market by Source
10.5.6.2.2 Argentina Animal Protein Market by Form
10.5.6.2.3 Argentina Animal Protein Market by Application
10.5.6.3 Rest of South and Central America Animal Protein Market
10.5.6.3.1 Rest of South and Central America Animal Protein Market by Source
10.5.6.3.2 Rest of South and Central America Animal Protein Market by Form
10.5.6.3.3 Rest of South and Central America Animal Protein Market by Application
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 PROTEIN MARKET, KEY COMPANY PROFILES
12.1. AMCO PROTEINS
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. ARLA FOODS
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. BOVOGEN BIOLOGICALS PTY LTD.
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. CARGILL, INCORPORATED
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. COOKE 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. GELITA 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. ROYAL FRIESLANDCAMPINA N.V.
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. SAPUTO INC.
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. VALLEY PROTEINS, INC.
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. Amco Proteins
2. Arla Foods
3. Bovogen Biologicals Pty Ltd.
4. Cargill, Incorporated
5. Cooke Inc.
6. Gelita AG
7. Kerry Group
8. Royal FrieslandCampina N.V.
9. Saputo Inc.
10. Valley Proteins, Inc.
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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