The Chicory Ingredient Market is expected to register a CAGR of 7.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
This makes the global chicory ingredient market grow rapidly as consumers become more aware of the health benefits from natural, organic products. This report provides deeper and richer insights into the markets; present states, trends, and emerging opportunities. It comprehensively discusses market size, share, and growth projections. This is underpinned by an analysis of the landscape in terms of how competitive it has become.
Purpose of the ReportThe report Chicory Ingredient 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.
Chicory Ingredient Market Segmentation
Product Type- Leaves
- Root
- Flowers
- Seeds
- Hypermarkets and Supermarkets
- Convenience Stores
- Online
Strategic Insights
Chicory Ingredient Market Growth Drivers- Growing Consumer Preferences toward Organic: The global chicory ingredient market is growing at a very high rate mainly due to the spate of driving factors. Consumer preferences toward more organic natural food products lead to growth in this market. Chicory root extract is one of the key ingredients derived from chicory plants that offer several health benefits, such as smooth digestion, lowering blood sugar levels, and healthy functioning of the gut. This demand for a healthy life has ensured a demand for chicory-based products, as substitutes for coffee, sweeteners, and dietary supplements.
- Rise in the application of functional food: The application of chicory inulin as a functional food ingredient has risen to a yet higher extent. Inulin is the type of dietary fiber extracted from the root of the chicory plant and has been proven to contain prebiotic characteristics, thereby assisting the development of good gut bacteria. This has made it apply to food and beverages, like yogurt and dairy-free alternatives, among other bakery goods. Lifestyle diseases like diabetes and obesity, increasing in numbers, have also a need for less calorie, high fiber sweeteners. Chicory root extract is needed also, due to the interest in clean-label products from the food and beverages industry. All of them are natural, lightly processed, and functional, so they have aligned well with the trend. It has thrown the emergence of fresh growth avenues in the industry along with growth in demand for chicory-based products in emerging markets particularly in Asia-Pacific.
- Sustainability and Eco-Friendly Agriculture: Chicory is a low-maintenance crop that does not require a lot of water, but it with stands all weather conditions so it can be used by sustainable agriculture for its interest. With increased attention given to the growing of agricultural products through environmentally friendly and eco-friendly methods of farming, most producers are increasingly adding chicory to their range.
- Sustainable Ethical Sourcing: Sustainable, ethical sourcing of chicory ingredients comes first. The increasing concern over the environment among consumers is going to act as an impetus for the growth of sustainably sourced chicory ingredients. It will inspire innovations in cultivation practices as well as processing techniques to minimize the ecological footprint.
- Personalized Nutrition: The chicory ingredients offer diverse prebiotic properties applicable to specific needs and purposes of diets and human health.
- Biotechnology Advancements: Progress in biotechnology and genomics will facilitate further product development of chicory-based products in health-related, individualized applications. Product promotion under added health-related values could explode the functional food and beverage market. Inulin and fructooligosaccharides extracted from chicory ingredients are used to improve nutritional and sensory values in food and beverages. Expansion of the market will occur fast with better education of the consumer towards the benefits of using chicory ingredients. Seizing all the opportunities to embrace sustainable, personalized nutrition, and functional food trends, the chicory ingredient market can provide a great sound future.
- Novel Product Development: Opportunities will be there till the infinity of years. More importantly, however, for DHL may be the new food and beverage product innovation built on using chicory ingredients to deliver functional benefits in terms of sweeteners, fibers, and extracts that formulators can develop as such novel products with healthier and more sustainable alternatives that consumers increasingly demand.
- Growth in Emerging Markets: The largest other space of opportunity will be growth in emerging markets, especially within the Asia-Pacific region. Countries like China and India, with an enormous growing population of middle-class citizens, offer huge potential in the consumption of chicory ingredients. Informing the consumers of the health benefits of chicory and the production of culturally relevant products will open up those markets and deliver numbers that would be an extraordinary opportunity.
- Innovation in Plant-based: Increased awareness towards plant-based and alternative diets is another great new opportunity that can be noticed. Chicory root extract could be seen as a natural, animal-derived substitute for dairy and meat. As a result, the companies will easily benefit from the trend of creating innovative, plant-based products that signify the adjustment in preference.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Chicory Ingredient 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 Chicory Ingredient 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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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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
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 leading players are as follows: Baiyin Xirui Biological Engineering Co., Ltd., BENEO-Palatinit GmbH, Coöperatie Koninklijke Cosun U.A., Cosucra Groupe Warcoing SA, Fuji Nihon Seito Corporation, Gansu Likang Nutritional Foods Co, LTD, Novagreen Inc., PMV Nutrient Products Pvt, The Qinghai Weide Biotechnology Co., Ltd., The Tierra Group
Consumers are increasingly becoming environmentally conscious, and this factor will lead to an increase in the demand for sustainably sourced chicory ingredients. Another key trend is personalized nutrition. Chicory ingredients, in their unique prebiotic properties, can be tailored to individual needs and health-related goals. Functional food and beverage industry is expected to grow at a rapid pace, offering products with added health benefits. Chicory products like inulin and fructooligosaccharides can be easily added to a variety of food and beverage systems for nutritional benefit while improving the sensory qualities.
Chicory Ingredient Market is expected to grow at a CAGR of 7.5% between 2023-2031
A number of key drivers propel the worldwide market for chicory ingredients. The increased demand of consumers for natural and organic products, along with a rising awareness of the health benefits of chicory, is an important driver. The increasing demand for functional foods and beverages, especially those with prebiotic properties, is another significant driver of market growth. Another factor leading to the rising demand for the market is the increased prevalence of lifestyle diseases and low-calorie, high-fiber sweetener requirements. In conclusion, several emerging trends drive the future of the chicory ingredient market.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Chicory Ingredient Market - By Product Type
1.3.2Chicory Ingredient Market - By Distribution Channel
1.3.3Chicory Ingredient Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.CHICORY INGREDIENT MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.CHICORY INGREDIENT 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.CHICORY INGREDIENT MARKET - GLOBAL MARKET ANALYSIS
6.1.CHICORY INGREDIENT - GLOBAL MARKET OVERVIEW
6.2.CHICORY INGREDIENT - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.CHICORY INGREDIENT MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.LEAVES
7.3.1.Overview
7.3.2.Leaves Market Forecast and Analysis
7.4.ROOT
7.4.1.Overview
7.4.2.Root Market Forecast and Analysis
7.5.FLOWERS
7.5.1.Overview
7.5.2.Flowers Market Forecast and Analysis
7.6.SEEDS
7.6.1.Overview
7.6.2.Seeds Market Forecast and Analysis
8.CHICORY INGREDIENT MARKET - REVENUE AND FORECASTS TO 2028 " DISTRIBUTION CHANNEL
8.1.OVERVIEW
8.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3.HYPERMARKETS AND SUPERMARKETS
8.3.1.Overview
8.3.2.Hypermarkets and Supermarkets Market Forecast and Analysis
8.4.CONVENIENCE STORES
8.4.1.Overview
8.4.2.Convenience Stores Market Forecast and Analysis
8.5.ONLINE
8.5.1.Overview
8.5.2.Online Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.CHICORY INGREDIENT MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Chicory Ingredient Market Overview
9.1.2North America Chicory Ingredient Market Forecasts and Analysis
9.1.3North America Chicory Ingredient Market Forecasts and Analysis - By Product Type
9.1.4North America Chicory Ingredient Market Forecasts and Analysis - By Distribution Channel
9.1.5North America Chicory Ingredient Market Forecasts and Analysis - By Countries
9.1.5.1United States Chicory Ingredient Market
9.1.5.1.1United States Chicory Ingredient Market by Product Type
9.1.5.1.2United States Chicory Ingredient Market by Distribution Channel
9.1.5.2Canada Chicory Ingredient Market
9.1.5.2.1Canada Chicory Ingredient Market by Product Type
9.1.5.2.2Canada Chicory Ingredient Market by Distribution Channel
9.1.5.3Mexico Chicory Ingredient Market
9.1.5.3.1Mexico Chicory Ingredient Market by Product Type
9.1.5.3.2Mexico Chicory Ingredient Market by Distribution Channel
9.2.EUROPE
9.2.1Europe Chicory Ingredient Market Overview
9.2.2Europe Chicory Ingredient Market Forecasts and Analysis
9.2.3Europe Chicory Ingredient Market Forecasts and Analysis - By Product Type
9.2.4Europe Chicory Ingredient Market Forecasts and Analysis - By Distribution Channel
9.2.5Europe Chicory Ingredient Market Forecasts and Analysis - By Countries
9.2.5.1Germany Chicory Ingredient Market
9.2.5.1.1Germany Chicory Ingredient Market by Product Type
9.2.5.1.2Germany Chicory Ingredient Market by Distribution Channel
9.2.5.2France Chicory Ingredient Market
9.2.5.2.1France Chicory Ingredient Market by Product Type
9.2.5.2.2France Chicory Ingredient Market by Distribution Channel
9.2.5.3Italy Chicory Ingredient Market
9.2.5.3.1Italy Chicory Ingredient Market by Product Type
9.2.5.3.2Italy Chicory Ingredient Market by Distribution Channel
9.2.5.4United Kingdom Chicory Ingredient Market
9.2.5.4.1United Kingdom Chicory Ingredient Market by Product Type
9.2.5.4.2United Kingdom Chicory Ingredient Market by Distribution Channel
9.2.5.5Russia Chicory Ingredient Market
9.2.5.5.1Russia Chicory Ingredient Market by Product Type
9.2.5.5.2Russia Chicory Ingredient Market by Distribution Channel
9.2.5.6Rest of Europe Chicory Ingredient Market
9.2.5.6.1Rest of Europe Chicory Ingredient Market by Product Type
9.2.5.6.2Rest of Europe Chicory Ingredient Market by Distribution Channel
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Chicory Ingredient Market Overview
9.3.2Asia-Pacific Chicory Ingredient Market Forecasts and Analysis
9.3.3Asia-Pacific Chicory Ingredient Market Forecasts and Analysis - By Product Type
9.3.4Asia-Pacific Chicory Ingredient Market Forecasts and Analysis - By Distribution Channel
9.3.5Asia-Pacific Chicory Ingredient Market Forecasts and Analysis - By Countries
9.3.5.1Australia Chicory Ingredient Market
9.3.5.1.1Australia Chicory Ingredient Market by Product Type
9.3.5.1.2Australia Chicory Ingredient Market by Distribution Channel
9.3.5.2China Chicory Ingredient Market
9.3.5.2.1China Chicory Ingredient Market by Product Type
9.3.5.2.2China Chicory Ingredient Market by Distribution Channel
9.3.5.3India Chicory Ingredient Market
9.3.5.3.1India Chicory Ingredient Market by Product Type
9.3.5.3.2India Chicory Ingredient Market by Distribution Channel
9.3.5.4Japan Chicory Ingredient Market
9.3.5.4.1Japan Chicory Ingredient Market by Product Type
9.3.5.4.2Japan Chicory Ingredient Market by Distribution Channel
9.3.5.5South Korea Chicory Ingredient Market
9.3.5.5.1South Korea Chicory Ingredient Market by Product Type
9.3.5.5.2South Korea Chicory Ingredient Market by Distribution Channel
9.3.5.6Rest of Asia-Pacific Chicory Ingredient Market
9.3.5.6.1Rest of Asia-Pacific Chicory Ingredient Market by Product Type
9.3.5.6.2Rest of Asia-Pacific Chicory Ingredient Market by Distribution Channel
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Chicory Ingredient Market Overview
9.4.2Middle East and Africa Chicory Ingredient Market Forecasts and Analysis
9.4.3Middle East and Africa Chicory Ingredient Market Forecasts and Analysis - By Product Type
9.4.4Middle East and Africa Chicory Ingredient Market Forecasts and Analysis - By Distribution Channel
9.4.5Middle East and Africa Chicory Ingredient Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Chicory Ingredient Market
9.4.5.1.1South Africa Chicory Ingredient Market by Product Type
9.4.5.1.2South Africa Chicory Ingredient Market by Distribution Channel
9.4.5.2Saudi Arabia Chicory Ingredient Market
9.4.5.2.1Saudi Arabia Chicory Ingredient Market by Product Type
9.4.5.2.2Saudi Arabia Chicory Ingredient Market by Distribution Channel
9.4.5.3U.A.E Chicory Ingredient Market
9.4.5.3.1U.A.E Chicory Ingredient Market by Product Type
9.4.5.3.2U.A.E Chicory Ingredient Market by Distribution Channel
9.4.5.4Rest of Middle East and Africa Chicory Ingredient Market
9.4.5.4.1Rest of Middle East and Africa Chicory Ingredient Market by Product Type
9.4.5.4.2Rest of Middle East and Africa Chicory Ingredient Market by Distribution Channel
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Chicory Ingredient Market Overview
9.5.2South and Central America Chicory Ingredient Market Forecasts and Analysis
9.5.3South and Central America Chicory Ingredient Market Forecasts and Analysis - By Product Type
9.5.4South and Central America Chicory Ingredient Market Forecasts and Analysis - By Distribution Channel
9.5.5South and Central America Chicory Ingredient Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Chicory Ingredient Market
9.5.5.1.1Brazil Chicory Ingredient Market by Product Type
9.5.5.1.2Brazil Chicory Ingredient Market by Distribution Channel
9.5.5.2Argentina Chicory Ingredient Market
9.5.5.2.1Argentina Chicory Ingredient Market by Product Type
9.5.5.2.2Argentina Chicory Ingredient Market by Distribution Channel
9.5.5.3Rest of South and Central America Chicory Ingredient Market
9.5.5.3.1Rest of South and Central America Chicory Ingredient Market by Product Type
9.5.5.3.2Rest of South and Central America Chicory Ingredient Market by Distribution Channel
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.CHICORY INGREDIENT MARKET, KEY COMPANY PROFILES
11.1.BAIYIN XIRUI BIOLOGICAL ENGINEERING CO., LTD.
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BENEO-PALATINIT GMBH
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.COöPERATIE KONINKLIJKE COSUN U.A.
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.COSUCRA GROUPE WARCOING SA
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.FUJI NIHON SEITO CORPORATION
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.GANSU LIKANG NUTRITIONAL FOODS CO, LTD
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.NOVAGREEN INC.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.PMV NUTRIENT PRODUCTS PVT
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.THE QINGHAI WEIDE BIOTECHNOLOGY CO., LTD.
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.THE TIERRA GROUP
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Baiyin Xirui Biological Engineering Co., Ltd.
2. BENEO-Palatinit GmbH
3. Coöperatie Koninklijke Cosun U.A.
4. Cosucra Groupe Warcoing SA
5. Fuji Nihon Seito Corporation
6. Gansu Likang Nutritional Foods Co, LTD
7. Novagreen Inc.
8. PMV Nutrient Products Pvt
9. The Qinghai Weide Biotechnology Co., Ltd.
10. The Tierra 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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