Bread Improver Market Dynamics 2021-2031
The bread improver market is expected to register a CAGR of 4% during 2023–2031. Rising demand for clean-label and organic ingredients is likely to remain key market trend.
Bread Improver Market Analysis:
- The bread improver market is influenced by various trends and drivers. One of the major trend is the growing demand for convenience foods on account of consumers’ consistent preference for ready-to-eat solutions, which readily fit with their busy lifestyles
- This has resulted in an increasing demand for bread improvers – chemicals that augment the quality, texture and shelf life of baked goods, especially pastry – worldwide.
- Another notable trend in the bread improver market is the increasing demand for clean label and organic products as consumers’ focus is now turning towards natural and sustainable ingredients.
- This in turn has given rise to the development of gluten-free and allergen-free bread improvers to serve the needs of people with food sensitivities.
- And then there, as well, is a move towards innovative and functional bread improvers, which provide health benefits, either by increasing their fiber content, or by the overall improvement in their nutritional profiles.
Bread Improver Market Overview
- Over the past few years, the bread improver market has witnessed a significant growth. Bread improver or dough conditioner or bread enhancer is an additive that is used to improve the quality, texture and shelf life of bread, buns, cakes, rolls and other bakery products, which are mostly made from wheat flour. Bread improvers generally include enzymes, emulsifiers, oxidizing agents, reducing agents and other chemicals.
- The easy availability of the foods and the lifestyle changes and hectic schedules of the consumers are the major factors responsible for the growth of bread improver market. The demand for the convenient foods that can be easily consumed, and which are easily available have increased because of the hectic lives of the consumers. The same trend has been traced in the increase in the demand for bakery products.
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Bread Improver Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Bread Improver Market: Strategic Insights
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Bread Improver Market Drivers and Opportunities
Growth of the Bakery Sector
- A The rise of the bakery sector has been one of the key growth drivers for the bread improver market. With the constant pace of progress in the bakery sector, the market creatively develops new products to cater to the needs of different consumer groups.
- Bread improvers are essential for improving texture, volume and shelf life, all desirable attributes necessary to meet evolving consumer needs.
- In addition, the rising popularity of processed and convenience foods, like microwaveable pizzas and potato chips, has also added to the demand for bread improvers. Manufacturers want to create bakery goods that are convenient but still taste delicious, and bread improvers help with that.
- This convenience is another reason why pre-packaged and ready-to-eat pastries are becoming more popular. Additionally, bakery manufacturers are attracted to the use of bread improvers because they allow them to minimize the time spent on making bread and other baked products. This is particularly attractive considering consumers’ desire for freshness.
Opportunities
Increasing Demand for Clean-Label Ingredients
- The rising demand for clean label ingredients offers a set of new opportunities for growth in the bread improvers market. Clean label products consist of ingredients that consumers can identify, and which are perceived as natural, free of artificial additives and allergens. Consumer demand for healthy and transparent food products has grown significantly in recent years, including bakery products. This trend has pushed bread improver companies to develop formulations with naturally derived enzymes, emulsifiers and other additives extracted from plants or microbial fermentation.
- Bakery manufacturers are considering the use of clean label bread improvers to address consumers’ growing demands for products with minimal artificial additives and allergens.
Bread Improver Market Segmentation
The scope of the global bread improver market has been segmented on the based-on type and application.
- Based on type, the bread improver market is divided into enzymes, emulsifiers, oxidizing agents, reducing agents, pH regulators, and others.
- Based on application, the market is segmented into breads, buns and rolls, pizzas and flatbreads, and others.
Bread Improver Market Share Analysis by Geography
- Bread Improver Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering bread improver market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the bread improver market in these regions.
Bread Improver Market Report Scope
Bread Improver Market News and Recent Developments:
The bread improver market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- Bakels Sweden is launching two new bread improvers, one for increased volume and a second one for enhanced softness. Lecimax 3000 and Lecisoft Rye deliver a strong and more reliable outcome in bread production and are valued additions to the product range. Product innovation plays an important role at Bakels Sweden, and questioning and challenging ourselves to improve is what drives us in our work. The two new products have been meticulously crafted through years of dedicated research, experience and development, embodying Bakels Sweden’s ethos of continuous improvement. (Source – Bakels Sweden, Newsletters, Nov 2023)
- Leading bakery ingredient supplier, Puratos USA, is changing the game for soft, sweet breads with the launch of Intens Puraslim. With Puraslim, bakers can reduce both calories and saturated fat in their breads as well as increase the cost-efficiency of bread production—all while keeping breads outstandingly tasty and fresh. (Source – Puratos USA, Press Release, July 2021)
Bread Improver Market Report Coverage and Deliverables
The “Bread Improver Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Bread Improver market size and forecast at global, regional and country levels for all the key market segments covered under the scope.
- Bread Improver market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Bread Improver market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the bread improver market.
- Detailed company profiles
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.
Frequently Asked Questions
Rising demand for clean-label and organic ingredients is likely to remain the key trends in the market.
The global bread improver market is estimated to grow above 4% during the forecast period 2023-2031.
Bakels Worldwide, Puratos Group, Orkla, CSM Ingredients, Kemin Industries Inc, Lallemand Inc, AngelYeast Co Ltd, AB Enzymes, Novozymes A/S, and Muhlenchemie GmbH and Co KG are among the leading players operating in the bread improver market.
Growth of the bakery sector is driving the bread improver market growth.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bread Improver Market - By Ingredient
1.3.2 Bread Improver Market - By Form
1.3.3 Bread Improver Market - By Application
1.3.4 Bread Improver Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BREAD IMPROVER 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. BREAD IMPROVER 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BREAD IMPROVER MARKET - GLOBAL MARKET ANALYSIS
6.1. BREAD IMPROVER - GLOBAL MARKET OVERVIEW
6.2. BREAD IMPROVER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BREAD IMPROVER MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENT
7.1. OVERVIEW
7.2. INGREDIENT MARKET FORECASTS AND ANALYSIS
7.3. EMULSIFIERS
7.3.1. Overview
7.3.2. Emulsifiers Market Forecast and Analysis
7.4. ENZYMES
7.4.1. Overview
7.4.2. Enzymes Market Forecast and Analysis
7.5. OXIDIZING AGENTS
7.5.1. Overview
7.5.2. Oxidizing Agents Market Forecast and Analysis
7.6. REDUCING AGENTS
7.6.1. Overview
7.6.2. Reducing Agents Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. BREAD IMPROVER MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. POWDER
8.3.1. Overview
8.3.2. Powder Market Forecast and Analysis
8.4. LIQUID AND SEMI-LIQUID
8.4.1. Overview
8.4.2. Liquid and Semi-Liquid Market Forecast and Analysis
8.5. GRANULAR
8.5.1. Overview
8.5.2. Granular Market Forecast and Analysis
9. BREAD IMPROVER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. BREAD
9.3.1. Overview
9.3.2. Bread Market Forecast and Analysis
9.4. CAKES
9.4.1. Overview
9.4.2. Cakes Market Forecast and Analysis
9.5. VIENNOISERIES
9.5.1. Overview
9.5.2. Viennoiseries Market Forecast and Analysis
9.6. OTHER
9.6.1. Overview
9.6.2. Other Market Forecast and Analysis
10. BREAD IMPROVER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Bread Improver Market Overview
10.1.2 North America Bread Improver Market Forecasts and Analysis
10.1.3 North America Bread Improver Market Forecasts and Analysis - By Ingredient
10.1.4 North America Bread Improver Market Forecasts and Analysis - By Form
10.1.5 North America Bread Improver Market Forecasts and Analysis - By Application
10.1.6 North America Bread Improver Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Bread Improver Market
10.1.6.1.1 Canada Bread Improver Market by Ingredient
10.1.6.1.2 Canada Bread Improver Market by Form
10.1.6.1.3 Canada Bread Improver Market by Application
10.1.6.2 Mexico Bread Improver Market
10.1.6.2.1 Mexico Bread Improver Market by Ingredient
10.1.6.2.2 Mexico Bread Improver Market by Form
10.1.6.2.3 Mexico Bread Improver Market by Application
10.1.6.3 US Bread Improver Market
10.1.6.3.1 US Bread Improver Market by Ingredient
10.1.6.3.2 US Bread Improver Market by Form
10.1.6.3.3 US Bread Improver Market by Application
10.2. EUROPE
10.2.1 Europe Bread Improver Market Overview
10.2.2 Europe Bread Improver Market Forecasts and Analysis
10.2.3 Europe Bread Improver Market Forecasts and Analysis - By Ingredient
10.2.4 Europe Bread Improver Market Forecasts and Analysis - By Form
10.2.5 Europe Bread Improver Market Forecasts and Analysis - By Application
10.2.6 Europe Bread Improver Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Bread Improver Market
10.2.6.1.1 Germany Bread Improver Market by Ingredient
10.2.6.1.2 Germany Bread Improver Market by Form
10.2.6.1.3 Germany Bread Improver Market by Application
10.2.6.2 France Bread Improver Market
10.2.6.2.1 France Bread Improver Market by Ingredient
10.2.6.2.2 France Bread Improver Market by Form
10.2.6.2.3 France Bread Improver Market by Application
10.2.6.3 Italy Bread Improver Market
10.2.6.3.1 Italy Bread Improver Market by Ingredient
10.2.6.3.2 Italy Bread Improver Market by Form
10.2.6.3.3 Italy Bread Improver Market by Application
10.2.6.4 United Kingdom Bread Improver Market
10.2.6.4.1 United Kingdom Bread Improver Market by Ingredient
10.2.6.4.2 United Kingdom Bread Improver Market by Form
10.2.6.4.3 United Kingdom Bread Improver Market by Application
10.2.6.5 Russia Bread Improver Market
10.2.6.5.1 Russia Bread Improver Market by Ingredient
10.2.6.5.2 Russia Bread Improver Market by Form
10.2.6.5.3 Russia Bread Improver Market by Application
10.2.6.6 Rest of Europe Bread Improver Market
10.2.6.6.1 Rest of Europe Bread Improver Market by Ingredient
10.2.6.6.2 Rest of Europe Bread Improver Market by Form
10.2.6.6.3 Rest of Europe Bread Improver Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Bread Improver Market Overview
10.3.2 Asia-Pacific Bread Improver Market Forecasts and Analysis
10.3.3 Asia-Pacific Bread Improver Market Forecasts and Analysis - By Ingredient
10.3.4 Asia-Pacific Bread Improver Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Bread Improver Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Bread Improver Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Bread Improver Market
10.3.6.1.1 Australia Bread Improver Market by Ingredient
10.3.6.1.2 Australia Bread Improver Market by Form
10.3.6.1.3 Australia Bread Improver Market by Application
10.3.6.2 China Bread Improver Market
10.3.6.2.1 China Bread Improver Market by Ingredient
10.3.6.2.2 China Bread Improver Market by Form
10.3.6.2.3 China Bread Improver Market by Application
10.3.6.3 India Bread Improver Market
10.3.6.3.1 India Bread Improver Market by Ingredient
10.3.6.3.2 India Bread Improver Market by Form
10.3.6.3.3 India Bread Improver Market by Application
10.3.6.4 Japan Bread Improver Market
10.3.6.4.1 Japan Bread Improver Market by Ingredient
10.3.6.4.2 Japan Bread Improver Market by Form
10.3.6.4.3 Japan Bread Improver Market by Application
10.3.6.5 South Korea Bread Improver Market
10.3.6.5.1 South Korea Bread Improver Market by Ingredient
10.3.6.5.2 South Korea Bread Improver Market by Form
10.3.6.5.3 South Korea Bread Improver Market by Application
10.3.6.6 Rest of Asia-Pacific Bread Improver Market
10.3.6.6.1 Rest of Asia-Pacific Bread Improver Market by Ingredient
10.3.6.6.2 Rest of Asia-Pacific Bread Improver Market by Form
10.3.6.6.3 Rest of Asia-Pacific Bread Improver Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Bread Improver Market Overview
10.4.2 Middle East and Africa Bread Improver Market Forecasts and Analysis
10.4.3 Middle East and Africa Bread Improver Market Forecasts and Analysis - By Ingredient
10.4.4 Middle East and Africa Bread Improver Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Bread Improver Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Bread Improver Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Bread Improver Market
10.4.6.1.1 South Africa Bread Improver Market by Ingredient
10.4.6.1.2 South Africa Bread Improver Market by Form
10.4.6.1.3 South Africa Bread Improver Market by Application
10.4.6.2 Saudi Arabia Bread Improver Market
10.4.6.2.1 Saudi Arabia Bread Improver Market by Ingredient
10.4.6.2.2 Saudi Arabia Bread Improver Market by Form
10.4.6.2.3 Saudi Arabia Bread Improver Market by Application
10.4.6.3 U.A.E Bread Improver Market
10.4.6.3.1 U.A.E Bread Improver Market by Ingredient
10.4.6.3.2 U.A.E Bread Improver Market by Form
10.4.6.3.3 U.A.E Bread Improver Market by Application
10.4.6.4 Rest of Middle East and Africa Bread Improver Market
10.4.6.4.1 Rest of Middle East and Africa Bread Improver Market by Ingredient
10.4.6.4.2 Rest of Middle East and Africa Bread Improver Market by Form
10.4.6.4.3 Rest of Middle East and Africa Bread Improver Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Bread Improver Market Overview
10.5.2 South and Central America Bread Improver Market Forecasts and Analysis
10.5.3 South and Central America Bread Improver Market Forecasts and Analysis - By Ingredient
10.5.4 South and Central America Bread Improver Market Forecasts and Analysis - By Form
10.5.5 South and Central America Bread Improver Market Forecasts and Analysis - By Application
10.5.6 South and Central America Bread Improver Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Bread Improver Market
10.5.6.1.1 Brazil Bread Improver Market by Ingredient
10.5.6.1.2 Brazil Bread Improver Market by Form
10.5.6.1.3 Brazil Bread Improver Market by Application
10.5.6.2 Argentina Bread Improver Market
10.5.6.2.1 Argentina Bread Improver Market by Ingredient
10.5.6.2.2 Argentina Bread Improver Market by Form
10.5.6.2.3 Argentina Bread Improver Market by Application
10.5.6.3 Rest of South and Central America Bread Improver Market
10.5.6.3.1 Rest of South and Central America Bread Improver Market by Ingredient
10.5.6.3.2 Rest of South and Central America Bread Improver Market by Form
10.5.6.3.3 Rest of South and Central America Bread Improver 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. BREAD IMPROVER MARKET, KEY COMPANY PROFILES
12.1. ARCHER DANIELS MIDLAND 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. ASSOCIATED BRITISH FOODS PLC
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. CORBION N.V.
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. DUPONT DE NEMOURS, INC.
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. GROUP SOUFFLET
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. IREKS GMBH
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. NUTREX
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. ORIENTAL YEAST CO., LTD.
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. OY KARL FAZER AB.
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. PURATOS GROUP
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
The List of Companies
1.Archer Daniels Midland Company
2.Associated British Foods PLC
3.Corbion N.V.
4.DuPont de Nemours, Inc.
5.Group Soufflet
6.Ireks GmbH
7.Nutrex
8.Oriental Yeast Co., Ltd.
9.Oy Karl Fazer Ab.
10.Puratos Group
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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