Food Extrusion Market SWOT Analysis by 2031
The food extrusion market is expected to register a CAGR of 5% during 2023–2031. The rising plant-based protein extrusion and sustainability focus are likely to remain a key trend in the market.
Food Extrusion Market Analysis
- The food extrusion market has large growth potential, as changing tastes and lifestyles boost demand for convenience foods and processed foods, especially in developing economies.
- This is a market that has been characterised by constant technological innovation and a departure of the consumer from unhealthy foods towards healthy foods, and a need for efficient means to produce food at scale.
- From savoury snacks and breakfast cereals, to plant-based proteins, sections that need relatively simple processing are extremely popular areas for twin-screw extruders.
- The market is moderately fragmented, with key companies such as Bühler AG and Coperion GmbH driving innovation.
Food Extrusion Market Overview
- Food extrusion is a versatile and efficient food processing technique that combines several unit operations including mixing, cooking, kneading, shearing, shaping, and forming.
- This process involves forcing food materials through a die under high pressure and temperature, causing significant physical and chemical changes to the ingredients.
- As the material passes through the extruder, it is subjected to intense mechanical shear, pressure, and thermal energy, which can gelatinize starches, denature proteins, and modify textures.
- The extrusion process allows for the creation of a wide range of products with varying shapes, textures, and densities, from puffed snacks and breakfast cereals to pasta and pet foods.
- It offers numerous advantages in food production, including high productivity, energy efficiency, and the ability to create novel textures and shapes.
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Food Extrusion 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.
Food Extrusion 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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Food Extrusion Market Drivers and Opportunities
Growing demand for convenience foods is expected to drive the growth of the food extrusion market
- The increasing demand for convenience foods, largely produced through extrusion, is a significant driving factor in the food extrusion market, reflecting the evolving lifestyles and preferences of modern consumers.
- As urbanization accelerates and work schedules become more demanding, people find themselves with less time and energy for traditional meal preparation.
- This shift is particularly pronounced in dual-income households and among younger generations like Millennials and Gen Z, who often prioritize efficiency in their daily routines.
- The result is a growing market for ready-to-eat and easy-to-prepare foods that can be consumed on-the-go, during commutes, or at workplaces.
Rising popularity of plant-based proteins
- Extrusion is the key to the fast-growing market for plant-based meat alternatives because it addresses the other half of the emerging market for ‘meat free’ foods: the huge shift in consumer attitudes towards plant-based diets.
- It can also transform a range of plant proteins, most notably soy, pea and wheat, into foods with exactly the sort of appearance, textural qualities and mouthfeel desired by consumers of ordinary meat meat.
- The high temperature, pressure and mechanical shear applied by extrusion causes the protein molecules to unfold and then pull into fibrous bundles that resemble the fibrous structure of ordinary muscle.
- Texturisation is a key factor in achieving the distinctive, chewy bite that meat products are known for.
Food Extrusion Market Report Segmentation Analysis
Key segments that contributed to the derivation of the food extrusion market analysis are type, form, and application.
- Based on extruder type, the food extrusion market is segmented into single screw extruders, twin screw extruders, contra twin screw extruders.
- Based on process, the food extrusion market is divided into cold extrusion, hot extrusion.
- Based on food product, the food extrusion market is segmented into savory snacks, breakfast cereals, bread, flours and starches, textured protein, functional ingredients, others.
Food Extrusion Market Share Analysis by Geography
- Food Extrusion 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 food extrusion 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 food extrusion market in these regions.
Food Extrusion Market Report Scope
Food Extrusion Market News and Recent Developments
The food extrusion market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the food extrusion market are listed below:
- Givaudan, MISTA, and Bühler Launch New Extrusion Hub for Plant-Based Products in USA. (Source: Newsletter, Givaudan, Apr 2024)
- The Crespel & Deiters Group, a leading producer of wheat-based solutions, has completed the integration of Extruded Cereal Products B.V. into its portfolio. (Source: Newsletter, Crespel & Deiters Group, Jan 2022)
Food Extrusion Market Report Coverage and Deliverables
The “Food Extrusion Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Food extrusion market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Food extrusion market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Food extrusion 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 food extrusion 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 food extrusion market is expected to grow at a CAGR of 5% during the forecast period 2023 - 2031.
Growing demand for convenience foods is expected to drive the growth of the food extrusion market.
Rising plant-based protein extrusion and sustainability focus to play a significant role in the global food extrusion market in the coming years.
The leading players operating in the food extrusion market are Akron Tool & Die Co., Inc.; Amandus Kahl GmbH & Co. KG; American Extrusion International; Baker Perkins Limited; Coperion GmbH; Flexicon Corporation; Groupe Legris Industries; Lindquist Machine Corporation; Pavan SpA; The Bonnot Company.
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.
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 Food Extrusion Market - By Extruder Type
1.3.2 Food Extrusion Market - By Process
1.3.3 Food Extrusion Market - By Food Product
1.3.4 Food Extrusion Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. FOOD EXTRUSION 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. FOOD EXTRUSION 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. FOOD EXTRUSION MARKET - GLOBAL MARKET ANALYSIS
6.1. FOOD EXTRUSION - GLOBAL MARKET OVERVIEW
6.2. FOOD EXTRUSION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FOOD EXTRUSION MARKET - REVENUE AND FORECASTS TO 2028 - EXTRUDER TYPE
7.1. OVERVIEW
7.2. EXTRUDER TYPE MARKET FORECASTS AND ANALYSIS
7.3. SINGLE SCREW EXTRUDERS
7.3.1. Overview
7.3.2. Single Screw Extruders Market Forecast and Analysis
7.4. TWIN SCREW EXTRUDERS
7.4.1. Overview
7.4.2. Twin Screw Extruders Market Forecast and Analysis
7.5. CONTRA TWIN SCREW EXTRUDERS
7.5.1. Overview
7.5.2. Contra Twin Screw Extruders Market Forecast and Analysis
8. FOOD EXTRUSION MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. COLD EXTRUSION
8.3.1. Overview
8.3.2. Cold Extrusion Market Forecast and Analysis
8.4. HOT EXTRUSION
8.4.1. Overview
8.4.2. Hot Extrusion Market Forecast and Analysis
9. FOOD EXTRUSION MARKET - REVENUE AND FORECASTS TO 2028 - FOOD PRODUCT
9.1. OVERVIEW
9.2. FOOD PRODUCT MARKET FORECASTS AND ANALYSIS
9.3. SAVORY SNACKS
9.3.1. Overview
9.3.2. Savory Snacks Market Forecast and Analysis
9.4. BREAKFAST CEREALS
9.4.1. Overview
9.4.2. Breakfast Cereals Market Forecast and Analysis
9.5. BREAD
9.5.1. Overview
9.5.2. Bread Market Forecast and Analysis
9.6. FLOURS AND STARCHES
9.6.1. Overview
9.6.2. Flours and Starches Market Forecast and Analysis
9.7. TEXTURED PROTEIN
9.7.1. Overview
9.7.2. Textured Protein Market Forecast and Analysis
9.8. FUNCTIONAL INGREDIENTS
9.8.1. Overview
9.8.2. Functional Ingredients Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. FOOD EXTRUSION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Food Extrusion Market Overview
10.1.2 North America Food Extrusion Market Forecasts and Analysis
10.1.3 North America Food Extrusion Market Forecasts and Analysis - By Extruder Type
10.1.4 North America Food Extrusion Market Forecasts and Analysis - By Process
10.1.5 North America Food Extrusion Market Forecasts and Analysis - By Food Product
10.1.6 North America Food Extrusion Market Forecasts and Analysis - By Countries
10.1.6.1 United States Food Extrusion Market
10.1.6.1.1 United States Food Extrusion Market by Extruder Type
10.1.6.1.2 United States Food Extrusion Market by Process
10.1.6.1.3 United States Food Extrusion Market by Food Product
10.1.6.2 Canada Food Extrusion Market
10.1.6.2.1 Canada Food Extrusion Market by Extruder Type
10.1.6.2.2 Canada Food Extrusion Market by Process
10.1.6.2.3 Canada Food Extrusion Market by Food Product
10.1.6.3 Mexico Food Extrusion Market
10.1.6.3.1 Mexico Food Extrusion Market by Extruder Type
10.1.6.3.2 Mexico Food Extrusion Market by Process
10.1.6.3.3 Mexico Food Extrusion Market by Food Product
10.2. EUROPE
10.2.1 Europe Food Extrusion Market Overview
10.2.2 Europe Food Extrusion Market Forecasts and Analysis
10.2.3 Europe Food Extrusion Market Forecasts and Analysis - By Extruder Type
10.2.4 Europe Food Extrusion Market Forecasts and Analysis - By Process
10.2.5 Europe Food Extrusion Market Forecasts and Analysis - By Food Product
10.2.6 Europe Food Extrusion Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Food Extrusion Market
10.2.6.1.1 Germany Food Extrusion Market by Extruder Type
10.2.6.1.2 Germany Food Extrusion Market by Process
10.2.6.1.3 Germany Food Extrusion Market by Food Product
10.2.6.2 France Food Extrusion Market
10.2.6.2.1 France Food Extrusion Market by Extruder Type
10.2.6.2.2 France Food Extrusion Market by Process
10.2.6.2.3 France Food Extrusion Market by Food Product
10.2.6.3 Italy Food Extrusion Market
10.2.6.3.1 Italy Food Extrusion Market by Extruder Type
10.2.6.3.2 Italy Food Extrusion Market by Process
10.2.6.3.3 Italy Food Extrusion Market by Food Product
10.2.6.4 United Kingdom Food Extrusion Market
10.2.6.4.1 United Kingdom Food Extrusion Market by Extruder Type
10.2.6.4.2 United Kingdom Food Extrusion Market by Process
10.2.6.4.3 United Kingdom Food Extrusion Market by Food Product
10.2.6.5 Russia Food Extrusion Market
10.2.6.5.1 Russia Food Extrusion Market by Extruder Type
10.2.6.5.2 Russia Food Extrusion Market by Process
10.2.6.5.3 Russia Food Extrusion Market by Food Product
10.2.6.6 Rest of Europe Food Extrusion Market
10.2.6.6.1 Rest of Europe Food Extrusion Market by Extruder Type
10.2.6.6.2 Rest of Europe Food Extrusion Market by Process
10.2.6.6.3 Rest of Europe Food Extrusion Market by Food Product
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Food Extrusion Market Overview
10.3.2 Asia-Pacific Food Extrusion Market Forecasts and Analysis
10.3.3 Asia-Pacific Food Extrusion Market Forecasts and Analysis - By Extruder Type
10.3.4 Asia-Pacific Food Extrusion Market Forecasts and Analysis - By Process
10.3.5 Asia-Pacific Food Extrusion Market Forecasts and Analysis - By Food Product
10.3.6 Asia-Pacific Food Extrusion Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Food Extrusion Market
10.3.6.1.1 Australia Food Extrusion Market by Extruder Type
10.3.6.1.2 Australia Food Extrusion Market by Process
10.3.6.1.3 Australia Food Extrusion Market by Food Product
10.3.6.2 China Food Extrusion Market
10.3.6.2.1 China Food Extrusion Market by Extruder Type
10.3.6.2.2 China Food Extrusion Market by Process
10.3.6.2.3 China Food Extrusion Market by Food Product
10.3.6.3 India Food Extrusion Market
10.3.6.3.1 India Food Extrusion Market by Extruder Type
10.3.6.3.2 India Food Extrusion Market by Process
10.3.6.3.3 India Food Extrusion Market by Food Product
10.3.6.4 Japan Food Extrusion Market
10.3.6.4.1 Japan Food Extrusion Market by Extruder Type
10.3.6.4.2 Japan Food Extrusion Market by Process
10.3.6.4.3 Japan Food Extrusion Market by Food Product
10.3.6.5 South Korea Food Extrusion Market
10.3.6.5.1 South Korea Food Extrusion Market by Extruder Type
10.3.6.5.2 South Korea Food Extrusion Market by Process
10.3.6.5.3 South Korea Food Extrusion Market by Food Product
10.3.6.6 Rest of Asia-Pacific Food Extrusion Market
10.3.6.6.1 Rest of Asia-Pacific Food Extrusion Market by Extruder Type
10.3.6.6.2 Rest of Asia-Pacific Food Extrusion Market by Process
10.3.6.6.3 Rest of Asia-Pacific Food Extrusion Market by Food Product
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Food Extrusion Market Overview
10.4.2 Middle East and Africa Food Extrusion Market Forecasts and Analysis
10.4.3 Middle East and Africa Food Extrusion Market Forecasts and Analysis - By Extruder Type
10.4.4 Middle East and Africa Food Extrusion Market Forecasts and Analysis - By Process
10.4.5 Middle East and Africa Food Extrusion Market Forecasts and Analysis - By Food Product
10.4.6 Middle East and Africa Food Extrusion Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Food Extrusion Market
10.4.6.1.1 South Africa Food Extrusion Market by Extruder Type
10.4.6.1.2 South Africa Food Extrusion Market by Process
10.4.6.1.3 South Africa Food Extrusion Market by Food Product
10.4.6.2 Saudi Arabia Food Extrusion Market
10.4.6.2.1 Saudi Arabia Food Extrusion Market by Extruder Type
10.4.6.2.2 Saudi Arabia Food Extrusion Market by Process
10.4.6.2.3 Saudi Arabia Food Extrusion Market by Food Product
10.4.6.3 U.A.E Food Extrusion Market
10.4.6.3.1 U.A.E Food Extrusion Market by Extruder Type
10.4.6.3.2 U.A.E Food Extrusion Market by Process
10.4.6.3.3 U.A.E Food Extrusion Market by Food Product
10.4.6.4 Rest of Middle East and Africa Food Extrusion Market
10.4.6.4.1 Rest of Middle East and Africa Food Extrusion Market by Extruder Type
10.4.6.4.2 Rest of Middle East and Africa Food Extrusion Market by Process
10.4.6.4.3 Rest of Middle East and Africa Food Extrusion Market by Food Product
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Food Extrusion Market Overview
10.5.2 South and Central America Food Extrusion Market Forecasts and Analysis
10.5.3 South and Central America Food Extrusion Market Forecasts and Analysis - By Extruder Type
10.5.4 South and Central America Food Extrusion Market Forecasts and Analysis - By Process
10.5.5 South and Central America Food Extrusion Market Forecasts and Analysis - By Food Product
10.5.6 South and Central America Food Extrusion Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Food Extrusion Market
10.5.6.1.1 Brazil Food Extrusion Market by Extruder Type
10.5.6.1.2 Brazil Food Extrusion Market by Process
10.5.6.1.3 Brazil Food Extrusion Market by Food Product
10.5.6.2 Argentina Food Extrusion Market
10.5.6.2.1 Argentina Food Extrusion Market by Extruder Type
10.5.6.2.2 Argentina Food Extrusion Market by Process
10.5.6.2.3 Argentina Food Extrusion Market by Food Product
10.5.6.3 Rest of South and Central America Food Extrusion Market
10.5.6.3.1 Rest of South and Central America Food Extrusion Market by Extruder Type
10.5.6.3.2 Rest of South and Central America Food Extrusion Market by Process
10.5.6.3.3 Rest of South and Central America Food Extrusion Market by Food Product
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. FOOD EXTRUSION MARKET, KEY COMPANY PROFILES
12.1. AKRON TOOL AND DIE CO., INC.
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. AMANDUS KAHL GMBH AND CO. KG
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. AMERICAN EXTRUSION INTERNATIONAL
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. BAKER PERKINS LIMITED
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. COPERION GMBH
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. FLEXICON 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. GROUPE LEGRIS INDUSTRIES
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. LINDQUIST MACHINE CORPORATION
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. PAVAN SPA
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. THE BONNOT COMPANY
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. Akron Tool and Die Co. , Inc.
2. Amandus Kahl GmbH and Co. KG
3. American Extrusion International
4. Baker Perkins Limited
5. Coperion GmbH
6. Flexicon Corporation
7. Groupe Legris Industries
8. Lindquist Machine Corporation
9. Pavan SpA
10. The Bonnot Company
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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