Functional Food Ingredients Market Scope and Size by 2031
Analyst Perspective
The global functional food ingredients market is estimated to register a CAGR of ~7%. The functional food ingredients market is growing due to consumer demand for healthy and nutritional food products. Rising health consciousness, preventive healthcare focus, and clean label preference are major growth-driven factors for the functional food ingredients market. The surge in online grocery shopping has facilitated convenient access to a wider variety of functional food products. Regulatory hurdles and consumer skepticism are significant challenges that may hamper the market growth. Rising consumer demand for health and wellness products, increasing focus on preventative healthcare, and technological advancements are growth opportunities for the functional food ingredients market.
Market Overview
Functional food ingredients are biologically active blends that can produce functional food products. These biologically active compounds can be obtained from natural and synthetic sources. Functional food ingredients come in a wide variety, including probiotics, amino acids, vitamins, minerals, and others. The food & beverage segment dominated the market as vitamins, minerals, fibers, and amino acids are widely used in the food and beverage industry to improve the nutritional value of food products and provide specific health benefits. The market is experiencing notable growth, propelled by the increasing demand for functional probiotic ingredients. Probiotics have health benefits, such as improving gut health, boosting the immune system, and managing chronic diseases. The market is anticipated to grow in a forecasted period due to increasing preference for nutritional food and demand for fortified food & beverage products.
Market Drivers
- Functional food ingredients provide specific health benefits like boosting immunity, improving digestion, or managing chronic conditions that cater to the growth of functional food ingredients.
- Fortification with vitamins, minerals, and other nutrients is the market's key driver.
- Consumer preference towards clean labels is increasing, and functional food ingredients derived from natural sources and minimal additives are considered a significant factor driving the growth of the functional food market.
Market Segmentation
The global functional food ingredients market is segmented based on type, source, and application. The global functional food ingredients market is segmented based on type into vitamins and minerals, Proteins, amino acids, lipids, dietary fibers, specialty carbohydrates, prebiotics and probiotics, and others. The functional food ingredients market is segmented based on source natural and synthetic. The functional food ingredients market is segmented based on application bakery and confectionery, dairy products, RTE and RTC meals, infant nutrition, beverages, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It overviews and forecasts the global functional food ingredients market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The Functional food ingredients market by region is also sub-segmented by respective countries and segments. The functional food ingredients market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the functional food ingredients market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' functional food ingredients market.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the functional food ingredients market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were partnerships & collaborations, and acquisitions. These activities have paved the way for the development of the business and customer base of market players. The functional food ingredients market players anticipate lucrative growth opportunities with the increasing demand for nutritional products globally.
The report includes key companies' profiles, SWOT analysis, and Functional food ingredients market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the functional food ingredients market.
- BASF
- Cargill Incorporated
- Ingredion
- Dupont
- Kerry Group
- Arla foods
- Meiji co
- Tate & Lyle
- ADM
- Novozymes
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Functional Food Ingredients Market - By Source
1.3.2Functional Food Ingredients Market - By Type
1.3.3Functional Food Ingredients Market - By Application
1.3.4Functional Food Ingredients Market - By Purpose
1.3.5Functional Food Ingredients Market - By Region
1.3.5.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.FUNCTIONAL FOOD INGREDIENTS 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.FUNCTIONAL FOOD INGREDIENTS 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.FUNCTIONAL FOOD INGREDIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1.FUNCTIONAL FOOD INGREDIENTS - GLOBAL MARKET OVERVIEW
6.2.FUNCTIONAL FOOD INGREDIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.FUNCTIONAL FOOD INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
7.1.OVERVIEW
7.2.SOURCE MARKET FORECASTS AND ANALYSIS
7.3.NATURAL
7.3.1.Overview
7.3.2.Natural Market Forecast and Analysis
7.4.SYNTHETIC
7.4.1.Overview
7.4.2.Synthetic Market Forecast and Analysis
8.FUNCTIONAL FOOD INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1.OVERVIEW
8.2.TYPE MARKET FORECASTS AND ANALYSIS
8.3.VITAMINS
8.3.1.Overview
8.3.2.Vitamins Market Forecast and Analysis
8.4.MINERALS
8.4.1.Overview
8.4.2.Minerals Market Forecast and Analysis
8.5.PREBIOTICS
8.5.1.Overview
8.5.2.Prebiotics Market Forecast and Analysis
8.6.PROBIOTICS
8.6.1.Overview
8.6.2.Probiotics Market Forecast and Analysis
8.7.HYDROCOLLOIDS
8.7.1.Overview
8.7.2.Hydrocolloids Market Forecast and Analysis
8.8.ESSENTIAL OILS
8.8.1.Overview
8.8.2.Essential Oils Market Forecast and Analysis
8.9.OMEGA-3 AND 6 FATTY ACIDS
8.9.1.Overview
8.9.2.Omega-3 and 6 Fatty Acids Market Forecast and Analysis
8.10.CAROTENOIDS
8.10.1.Overview
8.10.2.Carotenoids Market Forecast and Analysis
8.11.OTHERS
8.11.1.Overview
8.11.2.Others Market Forecast and Analysis
9.FUNCTIONAL FOOD INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.BAKERY AND CEREALS
9.3.1.Overview
9.3.2.Bakery and Cereals Market Forecast and Analysis
9.4.DAIRY PRODUCTS
9.4.1.Overview
9.4.2.Dairy Products Market Forecast and Analysis
9.5.MEAT
9.5.1.Overview
9.5.2.Meat Market Forecast and Analysis
9.6.FISH AND EGGS
9.6.1.Overview
9.6.2.Fish and Eggs Market Forecast and Analysis
9.7.SOY PRODUCTS
9.7.1.Overview
9.7.2.Soy Products Market Forecast and Analysis
9.8.OTHERS
9.8.1.Overview
9.8.2.Others Market Forecast and Analysis
10.FUNCTIONAL FOOD INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - PURPOSE
10.1.OVERVIEW
10.2.PURPOSE MARKET FORECASTS AND ANALYSIS
10.3.SPORTS NUTRITION
10.3.1.Overview
10.3.2.Sports Nutrition Market Forecast and Analysis
10.4.WEIGHT MANAGEMENT
10.4.1.Overview
10.4.2.Weight Management Market Forecast and Analysis
10.5.IMMUNITY
10.5.1.Overview
10.5.2.Immunity Market Forecast and Analysis
10.6.DIGESTIVE HEALTH
10.6.1.Overview
10.6.2.Digestive Health Market Forecast and Analysis
10.7.CLINICAL NUTRITION
10.7.1.Overview
10.7.2.Clinical Nutrition Market Forecast and Analysis
10.8.CARDIO HEALTH
10.8.1.Overview
10.8.2.Cardio Health Market Forecast and Analysis
10.9.OTHERS
10.9.1.Overview
10.9.2.Others Market Forecast and Analysis
11.FUNCTIONAL FOOD INGREDIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Functional Food Ingredients Market Overview
11.1.2North America Functional Food Ingredients Market Forecasts and Analysis
11.1.3North America Functional Food Ingredients Market Forecasts and Analysis - By Source
11.1.4North America Functional Food Ingredients Market Forecasts and Analysis - By Type
11.1.5North America Functional Food Ingredients Market Forecasts and Analysis - By Application
11.1.6North America Functional Food Ingredients Market Forecasts and Analysis - By Purpose
11.1.7North America Functional Food Ingredients Market Forecasts and Analysis - By Countries
11.1.7.1United States Functional Food Ingredients Market
11.1.7.1.1United States Functional Food Ingredients Market by Source
11.1.7.1.2United States Functional Food Ingredients Market by Type
11.1.7.1.3United States Functional Food Ingredients Market by Application
11.1.7.1.4United States Functional Food Ingredients Market by Purpose
11.1.7.2Canada Functional Food Ingredients Market
11.1.7.2.1Canada Functional Food Ingredients Market by Source
11.1.7.2.2Canada Functional Food Ingredients Market by Type
11.1.7.2.3Canada Functional Food Ingredients Market by Application
11.1.7.2.4Canada Functional Food Ingredients Market by Purpose
11.1.7.3Mexico Functional Food Ingredients Market
11.1.7.3.1Mexico Functional Food Ingredients Market by Source
11.1.7.3.2Mexico Functional Food Ingredients Market by Type
11.1.7.3.3Mexico Functional Food Ingredients Market by Application
11.1.7.3.4Mexico Functional Food Ingredients Market by Purpose
11.2.EUROPE
11.2.1Europe Functional Food Ingredients Market Overview
11.2.2Europe Functional Food Ingredients Market Forecasts and Analysis
11.2.3Europe Functional Food Ingredients Market Forecasts and Analysis - By Source
11.2.4Europe Functional Food Ingredients Market Forecasts and Analysis - By Type
11.2.5Europe Functional Food Ingredients Market Forecasts and Analysis - By Application
11.2.6Europe Functional Food Ingredients Market Forecasts and Analysis - By Purpose
11.2.7Europe Functional Food Ingredients Market Forecasts and Analysis - By Countries
11.2.7.1Germany Functional Food Ingredients Market
11.2.7.1.1Germany Functional Food Ingredients Market by Source
11.2.7.1.2Germany Functional Food Ingredients Market by Type
11.2.7.1.3Germany Functional Food Ingredients Market by Application
11.2.7.1.4Germany Functional Food Ingredients Market by Purpose
11.2.7.2France Functional Food Ingredients Market
11.2.7.2.1France Functional Food Ingredients Market by Source
11.2.7.2.2France Functional Food Ingredients Market by Type
11.2.7.2.3France Functional Food Ingredients Market by Application
11.2.7.2.4France Functional Food Ingredients Market by Purpose
11.2.7.3Italy Functional Food Ingredients Market
11.2.7.3.1Italy Functional Food Ingredients Market by Source
11.2.7.3.2Italy Functional Food Ingredients Market by Type
11.2.7.3.3Italy Functional Food Ingredients Market by Application
11.2.7.3.4Italy Functional Food Ingredients Market by Purpose
11.2.7.4United Kingdom Functional Food Ingredients Market
11.2.7.4.1United Kingdom Functional Food Ingredients Market by Source
11.2.7.4.2United Kingdom Functional Food Ingredients Market by Type
11.2.7.4.3United Kingdom Functional Food Ingredients Market by Application
11.2.7.4.4United Kingdom Functional Food Ingredients Market by Purpose
11.2.7.5Russia Functional Food Ingredients Market
11.2.7.5.1Russia Functional Food Ingredients Market by Source
11.2.7.5.2Russia Functional Food Ingredients Market by Type
11.2.7.5.3Russia Functional Food Ingredients Market by Application
11.2.7.5.4Russia Functional Food Ingredients Market by Purpose
11.2.7.6Rest of Europe Functional Food Ingredients Market
11.2.7.6.1Rest of Europe Functional Food Ingredients Market by Source
11.2.7.6.2Rest of Europe Functional Food Ingredients Market by Type
11.2.7.6.3Rest of Europe Functional Food Ingredients Market by Application
11.2.7.6.4Rest of Europe Functional Food Ingredients Market by Purpose
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Functional Food Ingredients Market Overview
11.3.2Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis
11.3.3Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis - By Source
11.3.4Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis - By Type
11.3.5Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis - By Application
11.3.6Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis - By Purpose
11.3.7Asia-Pacific Functional Food Ingredients Market Forecasts and Analysis - By Countries
11.3.7.1Australia Functional Food Ingredients Market
11.3.7.1.1Australia Functional Food Ingredients Market by Source
11.3.7.1.2Australia Functional Food Ingredients Market by Type
11.3.7.1.3Australia Functional Food Ingredients Market by Application
11.3.7.1.4Australia Functional Food Ingredients Market by Purpose
11.3.7.2China Functional Food Ingredients Market
11.3.7.2.1China Functional Food Ingredients Market by Source
11.3.7.2.2China Functional Food Ingredients Market by Type
11.3.7.2.3China Functional Food Ingredients Market by Application
11.3.7.2.4China Functional Food Ingredients Market by Purpose
11.3.7.3India Functional Food Ingredients Market
11.3.7.3.1India Functional Food Ingredients Market by Source
11.3.7.3.2India Functional Food Ingredients Market by Type
11.3.7.3.3India Functional Food Ingredients Market by Application
11.3.7.3.4India Functional Food Ingredients Market by Purpose
11.3.7.4Japan Functional Food Ingredients Market
11.3.7.4.1Japan Functional Food Ingredients Market by Source
11.3.7.4.2Japan Functional Food Ingredients Market by Type
11.3.7.4.3Japan Functional Food Ingredients Market by Application
11.3.7.4.4Japan Functional Food Ingredients Market by Purpose
11.3.7.5South Korea Functional Food Ingredients Market
11.3.7.5.1South Korea Functional Food Ingredients Market by Source
11.3.7.5.2South Korea Functional Food Ingredients Market by Type
11.3.7.5.3South Korea Functional Food Ingredients Market by Application
11.3.7.5.4South Korea Functional Food Ingredients Market by Purpose
11.3.7.6Rest of Asia-Pacific Functional Food Ingredients Market
11.3.7.6.1Rest of Asia-Pacific Functional Food Ingredients Market by Source
11.3.7.6.2Rest of Asia-Pacific Functional Food Ingredients Market by Type
11.3.7.6.3Rest of Asia-Pacific Functional Food Ingredients Market by Application
11.3.7.6.4Rest of Asia-Pacific Functional Food Ingredients Market by Purpose
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Functional Food Ingredients Market Overview
11.4.2Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis
11.4.3Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis - By Source
11.4.4Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis - By Type
11.4.5Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis - By Application
11.4.6Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis - By Purpose
11.4.7Middle East and Africa Functional Food Ingredients Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Functional Food Ingredients Market
11.4.7.1.1South Africa Functional Food Ingredients Market by Source
11.4.7.1.2South Africa Functional Food Ingredients Market by Type
11.4.7.1.3South Africa Functional Food Ingredients Market by Application
11.4.7.1.4South Africa Functional Food Ingredients Market by Purpose
11.4.7.2Saudi Arabia Functional Food Ingredients Market
11.4.7.2.1Saudi Arabia Functional Food Ingredients Market by Source
11.4.7.2.2Saudi Arabia Functional Food Ingredients Market by Type
11.4.7.2.3Saudi Arabia Functional Food Ingredients Market by Application
11.4.7.2.4Saudi Arabia Functional Food Ingredients Market by Purpose
11.4.7.3U.A.E Functional Food Ingredients Market
11.4.7.3.1U.A.E Functional Food Ingredients Market by Source
11.4.7.3.2U.A.E Functional Food Ingredients Market by Type
11.4.7.3.3U.A.E Functional Food Ingredients Market by Application
11.4.7.3.4U.A.E Functional Food Ingredients Market by Purpose
11.4.7.4Rest of Middle East and Africa Functional Food Ingredients Market
11.4.7.4.1Rest of Middle East and Africa Functional Food Ingredients Market by Source
11.4.7.4.2Rest of Middle East and Africa Functional Food Ingredients Market by Type
11.4.7.4.3Rest of Middle East and Africa Functional Food Ingredients Market by Application
11.4.7.4.4Rest of Middle East and Africa Functional Food Ingredients Market by Purpose
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Functional Food Ingredients Market Overview
11.5.2South and Central America Functional Food Ingredients Market Forecasts and Analysis
11.5.3South and Central America Functional Food Ingredients Market Forecasts and Analysis - By Source
11.5.4South and Central America Functional Food Ingredients Market Forecasts and Analysis - By Type
11.5.5South and Central America Functional Food Ingredients Market Forecasts and Analysis - By Application
11.5.6South and Central America Functional Food Ingredients Market Forecasts and Analysis - By Purpose
11.5.7South and Central America Functional Food Ingredients Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Functional Food Ingredients Market
11.5.7.1.1Brazil Functional Food Ingredients Market by Source
11.5.7.1.2Brazil Functional Food Ingredients Market by Type
11.5.7.1.3Brazil Functional Food Ingredients Market by Application
11.5.7.1.4Brazil Functional Food Ingredients Market by Purpose
11.5.7.2Argentina Functional Food Ingredients Market
11.5.7.2.1Argentina Functional Food Ingredients Market by Source
11.5.7.2.2Argentina Functional Food Ingredients Market by Type
11.5.7.2.3Argentina Functional Food Ingredients Market by Application
11.5.7.2.4Argentina Functional Food Ingredients Market by Purpose
11.5.7.3Rest of South and Central America Functional Food Ingredients Market
11.5.7.3.1Rest of South and Central America Functional Food Ingredients Market by Source
11.5.7.3.2Rest of South and Central America Functional Food Ingredients Market by Type
11.5.7.3.3Rest of South and Central America Functional Food Ingredients Market by Application
11.5.7.3.4Rest of South and Central America Functional Food Ingredients Market by Purpose
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.FUNCTIONAL FOOD INGREDIENTS MARKET, KEY COMPANY PROFILES
13.1.AMWAY GMBH
13.1.1.Key Facts
13.1.2.Business Description
13.1.3.Products and Services
13.1.4.Financial Overview
13.1.5.SWOT Analysis
13.1.6.Key Developments
13.2.ARCHER DANIELS MIDLAND COMPANY
13.2.1.Key Facts
13.2.2.Business Description
13.2.3.Products and Services
13.2.4.Financial Overview
13.2.5.SWOT Analysis
13.2.6.Key Developments
13.3.ARLA FOODS INGREDIENTS GROUP P/S
13.3.1.Key Facts
13.3.2.Business Description
13.3.3.Products and Services
13.3.4.Financial Overview
13.3.5.SWOT Analysis
13.3.6.Key Developments
13.4.BASF SE
13.4.1.Key Facts
13.4.2.Business Description
13.4.3.Products and Services
13.4.4.Financial Overview
13.4.5.SWOT Analysis
13.4.6.Key Developments
13.5.CARGILL, INCORPORATED
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.INGREDION INCORPORATED
13.6.1.Key Facts
13.6.2.Business Description
13.6.3.Products and Services
13.6.4.Financial Overview
13.6.5.SWOT Analysis
13.6.6.Key Developments
13.7.KERRY GROUP PLC
13.7.1.Key Facts
13.7.2.Business Description
13.7.3.Products and Services
13.7.4.Financial Overview
13.7.5.SWOT Analysis
13.7.6.Key Developments
13.8.KONINKLIJKE DSM N.V.
13.8.1.Key Facts
13.8.2.Business Description
13.8.3.Products and Services
13.8.4.Financial Overview
13.8.5.SWOT Analysis
13.8.6.Key Developments
13.9.NESTLé S.A.
13.9.1.Key Facts
13.9.2.Business Description
13.9.3.Products and Services
13.9.4.Financial Overview
13.9.5.SWOT Analysis
13.9.6.Key Developments
13.10.TATE AND LYLE PLC
13.10.1.Key Facts
13.10.2.Business Description
13.10.3.Products and Services
13.10.4.Financial Overview
13.10.5.SWOT Analysis
13.10.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
The List of Companies
1. Amway GmbH
2. Archer Daniels Midland Company
3. Arla Foods Ingredients Group P/S
4. BASF SE
5. Cargill, Incorporated
6. Ingredion Incorporated
7. Kerry Group plc
8. Koninklijke DSM N. V.
9. Nestle S. A.
10. Tate and Lyle PLC
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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