Egg Protein Market Strategies and Share 2031
The egg protein market is expected to register a CAGR of 6% during 2023–2031. The growing significance of egg protein in sports nutrition industry is likely to remain a key trend in the market.
Egg Protein Market Analysis:
- The growing prevalence of ailments like obesity is making the masses more concerned and aware of the need to maintain a certain level of self-health.
- This rise in health consciousness amongst consumers drives the demand for healthier consumption habits and indulgence in any form of fitness activities.
- Thus, the market of egg protein, owing to its nutritional and bio-oxidative properties, is aimed to satisfy the need for high protein in a daily balanced diet catering to the overall need of the health-conscious, fitness-enthusiastic consumers.
- The usage of this product is also observed in the personal care segment and is also significantly used in the cosmetics industry as an emulsifier and skin-replenishing agent due to the presence of phospholipids.
- The growing awareness about the potential of egg protein as a functional, biodegradable and biocompatible element will further spike the product's utilization and propel the market further in coming years.
Egg Protein Market Overview
- Egg proteins are termed to be multifunctional ingredients that are effectively used in various food item preparations.
- These foods are highly used for their nutritional properties and bioactivities in food processing.
- Apart from this, egg protein is identified as an emulsifying, foaming, thickening, and gelling agent, which increases its application in the food & beverages industry.
- Egg protein ingredients are extensively used in nutrition, animal feed, and the cosmetics end use industry.
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Egg Protein 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.
Egg Protein Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Egg Protein Market Drivers and Opportunities
Surge in Awareness About the Health Benefits of Protein Rich Diet
- The rising awareness about the health benefits of protein-rich diets is driving the egg protein market.
- People are getting more health-conscious and looking for ways to improve their well-being.
- High-protein foods have become popular among people trying to build muscles and lose weight.
- The egg is identified as one with complete protein, containing all essential amino acids. These amino acids are required by the body to enable it to grow, repair, and even maintain the muscles.
- The increasing understanding of the role of protein in weight management, bodybuilding, and satiety has created an insatiable demand for egg-based proteins in the market.
- Therefore, the egg protein market has considerably expanded, and it now accommodates diverse product formats, powders, liquid egg whites, and fortified foods.
Product Innovation and Enhancements
- Opportunities for egg-protein product innovation and improvement lie ahead of the market in times to come.
- Consumers around the world are increasingly seeking more sustainable sources of healthier proteins.
- Manufacturers could take advantage of these market trends and have the ability to innovate novel egg-protein formulations that are suitable for a wide range of dietary requirements and preferences, such as protein-rich food products for athletes; formulating egg-protein-based products that are free from common allergens and marketing ready-to-eat products fortified with egg proteins.
- An example of the former is the egg snacking range under the ‘Fast – Egg Mayonnaise Drinks’ brand made by the Beijing Daily Heart Health Food Co in China.
- Therefore, by refining existing products or introducing novel egg-protein products, companies would have the capacity to create new market differentiation, target health-conscious consumers, and seize application areas in untapped consumer options that have not previously considered egg-based foods, thus expanding the whole market for egg-protein products.
Egg Protein Market Report Segmentation Analysis
The scope of the global egg protein market is segmented on the basis of type, form, and application.
- Based on type, the egg protein market is segmented into egg white protein, whole egg protein, and egg yolk protein.
- On the form, the market is bifurcated into solid and liquid.
- Based on application, the market is categorized into food and beverages, nutrition, personal care and cosmetics, feed, and others.
Egg Protein Market Share Analysis by Geography
- Egg Protein 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 egg protein 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 egg protein market in these regions.
Egg Protein Market Report Scope
Egg Protein Market News and Recent Developments:
The egg protein 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:
- Onego Bio Poaches launched a $40M Series A precision-fermented egg protein in North America, offering over 20 functional benefits from aeration to emulsification and gelation. (Source: Onego Bio, Newsletter, Apr 2024)
- The EVERY Company, a pioneer in precision fermentation technology for egg proteins, launched multinational food companies to increase manufacturing capacity for animal-free egg proteins, aiming to meet demand and expand its production capacity. (Source: The EVERY Company, Newsletter, Feb 2024)
Egg Protein Market Report Coverage and Deliverables
The “Egg Protein Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Egg protein market size and forecast at global, regional and country levels for all the key market segments covered under the scope
- Egg protein market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Egg protein 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 egg protein 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
The global egg protein market is estimated to grow above 6% during the forecast period 2023-2031.
Surge in awareness about the health benefits of protein rich diet is one of the major factors driving the egg protein market.
The growing significance of egg protein in the sports nutrition industry is likely to remain a key trend in the market.
The leading players operating in the egg protein market are Cargill Inc, Kewpie Corp, Davisco Foods International, Rose Acre Farms, Sanvo Egg Group, Bouwhuis Enthoven BV, Dalian Hanovo Foods, IGRECA, Onego Bio, and The EVERY Company.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on 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.
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 Egg Protein Market - By Type
1.3.2 Egg Protein Market - By Form
1.3.3 Egg Protein Market - By Application
1.3.4 Egg Protein Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EGG 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. EGG 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. EGG PROTEIN MARKET - GLOBAL MARKET ANALYSIS
6.1. EGG PROTEIN - GLOBAL MARKET OVERVIEW
6.2. EGG PROTEIN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EGG PROTEIN MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. EGG WHITE PROTEIN
7.3.1. Overview
7.3.2. Egg White Protein Market Forecast and Analysis
7.4. WHOLE EGG PROTEIN
7.4.1. Overview
7.4.2. Whole Egg Protein Market Forecast and Analysis
7.5. EGG YOLK PROTEIN
7.5.1. Overview
7.5.2. Egg Yolk Protein Market Forecast and Analysis
8. EGG 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. EGG 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. NUTRITION
9.4.1. Overview
9.4.2. Nutrition Market Forecast and Analysis
9.5. PERSONAL CARE AND COSMETICS
9.5.1. Overview
9.5.2. Personal Care and Cosmetics Market Forecast and Analysis
9.6. FEED
9.6.1. Overview
9.6.2. Feed Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. EGG PROTEIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Egg Protein Market Overview
10.1.2 North America Egg Protein Market Forecasts and Analysis
10.1.3 North America Egg Protein Market Forecasts and Analysis - By Type
10.1.4 North America Egg Protein Market Forecasts and Analysis - By Form
10.1.5 North America Egg Protein Market Forecasts and Analysis - By Application
10.1.6 North America Egg Protein Market Forecasts and Analysis - By Countries
10.1.6.1 United States Egg Protein Market
10.1.6.1.1 United States Egg Protein Market by Type
10.1.6.1.2 United States Egg Protein Market by Form
10.1.6.1.3 United States Egg Protein Market by Application
10.1.6.2 Canada Egg Protein Market
10.1.6.2.1 Canada Egg Protein Market by Type
10.1.6.2.2 Canada Egg Protein Market by Form
10.1.6.2.3 Canada Egg Protein Market by Application
10.1.6.3 Mexico Egg Protein Market
10.1.6.3.1 Mexico Egg Protein Market by Type
10.1.6.3.2 Mexico Egg Protein Market by Form
10.1.6.3.3 Mexico Egg Protein Market by Application
10.2. EUROPE
10.2.1 Europe Egg Protein Market Overview
10.2.2 Europe Egg Protein Market Forecasts and Analysis
10.2.3 Europe Egg Protein Market Forecasts and Analysis - By Type
10.2.4 Europe Egg Protein Market Forecasts and Analysis - By Form
10.2.5 Europe Egg Protein Market Forecasts and Analysis - By Application
10.2.6 Europe Egg Protein Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Egg Protein Market
10.2.6.1.1 Germany Egg Protein Market by Type
10.2.6.1.2 Germany Egg Protein Market by Form
10.2.6.1.3 Germany Egg Protein Market by Application
10.2.6.2 France Egg Protein Market
10.2.6.2.1 France Egg Protein Market by Type
10.2.6.2.2 France Egg Protein Market by Form
10.2.6.2.3 France Egg Protein Market by Application
10.2.6.3 Italy Egg Protein Market
10.2.6.3.1 Italy Egg Protein Market by Type
10.2.6.3.2 Italy Egg Protein Market by Form
10.2.6.3.3 Italy Egg Protein Market by Application
10.2.6.4 United Kingdom Egg Protein Market
10.2.6.4.1 United Kingdom Egg Protein Market by Type
10.2.6.4.2 United Kingdom Egg Protein Market by Form
10.2.6.4.3 United Kingdom Egg Protein Market by Application
10.2.6.5 Russia Egg Protein Market
10.2.6.5.1 Russia Egg Protein Market by Type
10.2.6.5.2 Russia Egg Protein Market by Form
10.2.6.5.3 Russia Egg Protein Market by Application
10.2.6.6 Rest of Europe Egg Protein Market
10.2.6.6.1 Rest of Europe Egg Protein Market by Type
10.2.6.6.2 Rest of Europe Egg Protein Market by Form
10.2.6.6.3 Rest of Europe Egg Protein Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Egg Protein Market Overview
10.3.2 Asia-Pacific Egg Protein Market Forecasts and Analysis
10.3.3 Asia-Pacific Egg Protein Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Egg Protein Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Egg Protein Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Egg Protein Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Egg Protein Market
10.3.6.1.1 Australia Egg Protein Market by Type
10.3.6.1.2 Australia Egg Protein Market by Form
10.3.6.1.3 Australia Egg Protein Market by Application
10.3.6.2 China Egg Protein Market
10.3.6.2.1 China Egg Protein Market by Type
10.3.6.2.2 China Egg Protein Market by Form
10.3.6.2.3 China Egg Protein Market by Application
10.3.6.3 India Egg Protein Market
10.3.6.3.1 India Egg Protein Market by Type
10.3.6.3.2 India Egg Protein Market by Form
10.3.6.3.3 India Egg Protein Market by Application
10.3.6.4 Japan Egg Protein Market
10.3.6.4.1 Japan Egg Protein Market by Type
10.3.6.4.2 Japan Egg Protein Market by Form
10.3.6.4.3 Japan Egg Protein Market by Application
10.3.6.5 South Korea Egg Protein Market
10.3.6.5.1 South Korea Egg Protein Market by Type
10.3.6.5.2 South Korea Egg Protein Market by Form
10.3.6.5.3 South Korea Egg Protein Market by Application
10.3.6.6 Rest of Asia-Pacific Egg Protein Market
10.3.6.6.1 Rest of Asia-Pacific Egg Protein Market by Type
10.3.6.6.2 Rest of Asia-Pacific Egg Protein Market by Form
10.3.6.6.3 Rest of Asia-Pacific Egg Protein Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Egg Protein Market Overview
10.4.2 Middle East and Africa Egg Protein Market Forecasts and Analysis
10.4.3 Middle East and Africa Egg Protein Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Egg Protein Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Egg Protein Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Egg Protein Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Egg Protein Market
10.4.6.1.1 South Africa Egg Protein Market by Type
10.4.6.1.2 South Africa Egg Protein Market by Form
10.4.6.1.3 South Africa Egg Protein Market by Application
10.4.6.2 Saudi Arabia Egg Protein Market
10.4.6.2.1 Saudi Arabia Egg Protein Market by Type
10.4.6.2.2 Saudi Arabia Egg Protein Market by Form
10.4.6.2.3 Saudi Arabia Egg Protein Market by Application
10.4.6.3 U.A.E Egg Protein Market
10.4.6.3.1 U.A.E Egg Protein Market by Type
10.4.6.3.2 U.A.E Egg Protein Market by Form
10.4.6.3.3 U.A.E Egg Protein Market by Application
10.4.6.4 Rest of Middle East and Africa Egg Protein Market
10.4.6.4.1 Rest of Middle East and Africa Egg Protein Market by Type
10.4.6.4.2 Rest of Middle East and Africa Egg Protein Market by Form
10.4.6.4.3 Rest of Middle East and Africa Egg Protein Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Egg Protein Market Overview
10.5.2 South and Central America Egg Protein Market Forecasts and Analysis
10.5.3 South and Central America Egg Protein Market Forecasts and Analysis - By Type
10.5.4 South and Central America Egg Protein Market Forecasts and Analysis - By Form
10.5.5 South and Central America Egg Protein Market Forecasts and Analysis - By Application
10.5.6 South and Central America Egg Protein Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Egg Protein Market
10.5.6.1.1 Brazil Egg Protein Market by Type
10.5.6.1.2 Brazil Egg Protein Market by Form
10.5.6.1.3 Brazil Egg Protein Market by Application
10.5.6.2 Argentina Egg Protein Market
10.5.6.2.1 Argentina Egg Protein Market by Type
10.5.6.2.2 Argentina Egg Protein Market by Form
10.5.6.2.3 Argentina Egg Protein Market by Application
10.5.6.3 Rest of South and Central America Egg Protein Market
10.5.6.3.1 Rest of South and Central America Egg Protein Market by Type
10.5.6.3.2 Rest of South and Central America Egg Protein Market by Form
10.5.6.3.3 Rest of South and Central America Egg 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. EGG PROTEIN MARKET, KEY COMPANY PROFILES
12.1. BOUWHUIS ENTHOVEN
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. CARGILL INC.
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. DALIAN HANOVO FOODS CO. 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. IGRECA
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. INTEROVO EGG GROUP BV
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. KEWPIE CORPORATION
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. REMBRANDT ENTERPRISES
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. ROSE ACRE FARMS
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. SANOVO TECHNOLOGY GROUP
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. WULRO BV
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. Bouwhuis Enthoven
2. Cargill Inc.
3. Dalian Hanovo foods Co. Ltd
4. IGRECA
5. Interovo Egg Group BV
6. Kewpie Corporation
7. Rembrandt Enterprises
8. Rose Acre Farms
9. SANOVO TECHNOLOGY GROUP
10. Wulro BV
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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