Omega-3 Ingredients Market Strategies and Share 2031
The omega-3 ingredients market is expected to grow from US$ 3 billion in 2022 to US$ 6 billion by 2031, at an estimated CAGR of 12.4% from 2022 to 2031.
Omega-3 ingredients consist of Eicosapentaenoic acid (EPA), Docosahexaenoic acid (DHA), and Alpha-linolenic acid (ALA), which are necessary for maintaining overall health and wellness. Omega-3 ingredients are not synthesized by the human body, and thus, individuals need to supplement their diet with different dietary supplements, which can be consumed in the form of desserts, juices, etc.
MARKET DYNAMICS
Health awareness among people has increased significantly in recent years, as people, nowadays, are unable to concentrate on their health, fitness, and regular diet through busy lifestyles and hectic work schedules. As a result, the prevalence of obesity, diabetes, high blood pressure, skin problems, digestive issues, and other diseases has surged considerably. With this, preventive healthcare products and dietary supplements have gained popularity among the masses. Omega-3 ingredients are majorly used in the commercial synthesis of nutritional supplements. In 2021, the US Food and Drug Administration (FDA) announced new health claims for the use of omega-3 ingredients in food and dietary supplements meant to avoid the risk of hypertension and coronary heart disease.
MARKET SCOPE
The "Global Omega-3 Ingredients Market Analysis to 2031" is a specialized and in-depth study of the omega-3 ingredients market with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed segmentation. It provides key statistics on the status of leading market players and describes major trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global omega-3 ingredients market is segmented on the basis of type, source, and application. Based on type, the market is segmented into eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA). In terms of source, the market is bifurcated into plant and marine. The market for the plant segment is further divided into flaxseeds, chia seeds, walnuts, and others, whereas the marine segment is further classified as fish, algae, krill, and others. Based on application, the omega-3 ingredients market is segmented into food & beverages, pharmaceuticals and nutraceuticals, and others. The market for the food & beverages segment is sub segmented into infant formula, fats and oils, dairy and frozen desserts, beverages, and others.
The omega-3 ingredients market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report entails the analysis and forecast of the market in 18 countries, along with current trends and opportunities prevailing in the major regions.
North America dominated the omega-3 ingredients market in 2021. Omega 3 ingredients are mainly extracted and processed in North America as a large number of dietary supplement manufacturers and chemical processing companies are functional in the region. Consumers' interest in omega-3 ingredients is increasing in the US due to the rising prevalence of neurological disorders. The American Heart Association (AHA) suggests people to eat fish, particularly cold-water fish, twice a week to maintain optimum omega-3 levels in their diet. Further, rising healthcare expenditures, changing dietary habits, and increasing per capita incomes are a few of the key factors supporting the growth of the omega-3 ingredients market across North America.
Source: The Insight Partners Analysis
The report analyzes drivers, restraints, opportunities, and future trends as the key factors impacting the omega-3 ingredients market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall omega-3 ingredients market. The imposition of the lockdown led to the temporary discontinuation of various manufacturing activities, disrupting the supply chains, which substantially impacted the omega-3 ingredients market. In addition, travel restrictions resulted in irregularities and uncertainties in the transportation of raw materials. However, consumers became highly concerned about their health and fitness during this global health crisis, which propelled the demand for immunity-boosting health supplements. Moreover, people began focusing more on physical and mental fitness by performing activities such as yoga, exercises, and Zumba to improve their health, which created strong opportunities for the manufacturers of functional food and beverages. Omega-3 ingredients are used in a wide range of functional food and beverages. Manufacturers from the food & beverages and nutraceuticals industries are increasingly incorporating omega-3 ingredients as a major source of nutrients in their products.
In 2021, the global marketplace witnessed a resurgence as governments of various countries announced relaxations in several social restrictions, including lockdowns. Manufacturers resumed their operations at full capacities, which helped them overcome the demand and supply gaps. Many also expanded their production capacities to meet the rising consumer demands for omega-3 ingredients.
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The omega-3 ingredients market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report entails the analysis and forecast of the market in 18 countries, along with current trends and opportunities prevailing in the major regions.
North America dominated the omega-3 ingredients market in 2021. Omega 3 ingredients are mainly extracted and processed in North America as a large number of dietary supplement manufacturers and chemical processing companies are functional in the region. Consumers' interest in omega-3 ingredients is increasing in the US due to the rising prevalence of neurological disorders. The American Heart Association (AHA) suggests people to eat fish, particularly cold-water fish, twice a week to maintain optimum omega-3 levels in their diet. Further, rising healthcare expenditures, changing dietary habits, and increasing per capita incomes are a few of the key factors supporting the growth of the omega-3 ingredients market across North America.
Source: The Insight Partners Analysis
The report analyzes drivers, restraints, opportunities, and future trends as the key factors impacting the omega-3 ingredients market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall omega-3 ingredients market. The imposition of the lockdown led to the temporary discontinuation of various manufacturing activities, disrupting the supply chains, which substantially impacted the omega-3 ingredients market. In addition, travel restrictions resulted in irregularities and uncertainties in the transportation of raw materials. However, consumers became highly concerned about their health and fitness during this global health crisis, which propelled the demand for immunity-boosting health supplements. Moreover, people began focusing more on physical and mental fitness by performing activities such as yoga, exercises, and Zumba to improve their health, which created strong opportunities for the manufacturers of functional food and beverages. Omega-3 ingredients are used in a wide range of functional food and beverages. Manufacturers from the food & beverages and nutraceuticals industries are increasingly incorporating omega-3 ingredients as a major source of nutrients in their products.
In 2021, the global marketplace witnessed a resurgence as governments of various countries announced relaxations in several social restrictions, including lockdowns. Manufacturers resumed their operations at full capacities, which helped them overcome the demand and supply gaps. Many also expanded their production capacities to meet the rising consumer demands for omega-3 ingredients.
MARKET PLAYERS
The report highlights key organic and inorganic growth strategies undertaken by companies in the omega-3 ingredients market. Various companies are focusing on organic growth strategies such as product launches and approvals, patents, and events. Acquisitions, partnerships, and collaborations are the inorganic growth strategies witnessed in the market. Both, organic and inorganic activities have paved the way for the expansion of businesses and customer bases.
This report on the omega-3 ingredients market includes key company profiles, along with their SWOT analysis and market strategies. It focuses on company profiles, component and service offerings, financial information (last three years), and key development (past five years) of leading market players.
Key Companies Operating in the Omega-3 Ingredients Market
- Cargill, Incorporated
- BASF Corporation
- Pharma Marine AS
- Croda International Plc
- POLARIS
- Epax
- DSM
- Omega Protein
- Cellana Inc
- Clover Corporation Limited
The dedicated research and analysis team of The Insight Partners consists of experienced professionals with advanced statistical expertise, and they offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Source, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
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 Omega 3 Ingredients Market - By Type
1.3.2 Omega 3 Ingredients Market - By Source
1.3.3 Omega 3 Ingredients Market - By Application
1.3.4 Omega 3 Ingredients Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OMEGA 3 INGREDIENTS 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. OMEGA 3 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 AND RESTRAINTS
6. OMEGA 3 INGREDIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. OMEGA 3 INGREDIENTS - GLOBAL MARKET OVERVIEW
6.2. OMEGA 3 INGREDIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OMEGA 3 INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ALA
7.3.1. Overview
7.3.2. ALA Market Forecast and Analysis
7.4. DHA
7.4.1. Overview
7.4.2. DHA Market Forecast and Analysis
7.5. EPA
7.5.1. Overview
7.5.2. EPA Market Forecast and Analysis
8. OMEGA 3 INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
8.1. OVERVIEW
8.2. SOURCE MARKET FORECASTS AND ANALYSIS
8.3. ANCHOVY
8.3.1. Overview
8.3.2. Anchovy Market Forecast and Analysis
8.4. NUTS AND SEEDS
8.4.1. Overview
8.4.2. Nuts and Seeds Market Forecast and Analysis
8.5. VEGETABLE OILS
8.5.1. Overview
8.5.2. Vegetable Oils Market Forecast and Analysis
8.6. ALGAE OIL
8.6.1. Overview
8.6.2. Algae Oil Market Forecast and Analysis
8.7. COD LIVER OIL
8.7.1. Overview
8.7.2. Cod liver oil Market Forecast and Analysis
8.8. KRILL OIL
8.8.1. Overview
8.8.2. Krill Oil Market Forecast and Analysis
8.9. SALMON OIL
8.9.1. Overview
8.9.2. Salmon Oil Market Forecast and Analysis
8.10. MENHADEN OIL
8.10.1. Overview
8.10.2. Menhaden Oil Market Forecast and Analysis
9. OMEGA 3 INGREDIENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. DIETARY SUPPLEMENTS
9.3.1. Overview
9.3.2. Dietary Supplements Market Forecast and Analysis
9.4. FUNCTIONAL FOODS
9.4.1. Overview
9.4.2. Functional Foods Market Forecast and Analysis
9.5. PHARMACEUTICAL
9.5.1. Overview
9.5.2. Pharmaceutical Market Forecast and Analysis
9.6. INFANT FORMULA
9.6.1. Overview
9.6.2. Infant Formula Market Forecast and Analysis
9.7. PET AND ANIMAL FEED
9.7.1. Overview
9.7.2. Pet and Animal Feed Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. OMEGA 3 INGREDIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Omega 3 Ingredients Market Overview
10.1.2 North America Omega 3 Ingredients Market Forecasts and Analysis
10.1.3 North America Omega 3 Ingredients Market Forecasts and Analysis - By Type
10.1.4 North America Omega 3 Ingredients Market Forecasts and Analysis - By Source
10.1.5 North America Omega 3 Ingredients Market Forecasts and Analysis - By Application
10.1.6 North America Omega 3 Ingredients Market Forecasts and Analysis - By Countries
10.1.6.1 United States Omega 3 Ingredients Market
10.1.6.1.1 United States Omega 3 Ingredients Market by Type
10.1.6.1.2 United States Omega 3 Ingredients Market by Source
10.1.6.1.3 United States Omega 3 Ingredients Market by Application
10.1.6.2 Canada Omega 3 Ingredients Market
10.1.6.2.1 Canada Omega 3 Ingredients Market by Type
10.1.6.2.2 Canada Omega 3 Ingredients Market by Source
10.1.6.2.3 Canada Omega 3 Ingredients Market by Application
10.1.6.3 Mexico Omega 3 Ingredients Market
10.1.6.3.1 Mexico Omega 3 Ingredients Market by Type
10.1.6.3.2 Mexico Omega 3 Ingredients Market by Source
10.1.6.3.3 Mexico Omega 3 Ingredients Market by Application
10.2. EUROPE
10.2.1 Europe Omega 3 Ingredients Market Overview
10.2.2 Europe Omega 3 Ingredients Market Forecasts and Analysis
10.2.3 Europe Omega 3 Ingredients Market Forecasts and Analysis - By Type
10.2.4 Europe Omega 3 Ingredients Market Forecasts and Analysis - By Source
10.2.5 Europe Omega 3 Ingredients Market Forecasts and Analysis - By Application
10.2.6 Europe Omega 3 Ingredients Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Omega 3 Ingredients Market
10.2.6.1.1 Germany Omega 3 Ingredients Market by Type
10.2.6.1.2 Germany Omega 3 Ingredients Market by Source
10.2.6.1.3 Germany Omega 3 Ingredients Market by Application
10.2.6.2 France Omega 3 Ingredients Market
10.2.6.2.1 France Omega 3 Ingredients Market by Type
10.2.6.2.2 France Omega 3 Ingredients Market by Source
10.2.6.2.3 France Omega 3 Ingredients Market by Application
10.2.6.3 Italy Omega 3 Ingredients Market
10.2.6.3.1 Italy Omega 3 Ingredients Market by Type
10.2.6.3.2 Italy Omega 3 Ingredients Market by Source
10.2.6.3.3 Italy Omega 3 Ingredients Market by Application
10.2.6.4 United Kingdom Omega 3 Ingredients Market
10.2.6.4.1 United Kingdom Omega 3 Ingredients Market by Type
10.2.6.4.2 United Kingdom Omega 3 Ingredients Market by Source
10.2.6.4.3 United Kingdom Omega 3 Ingredients Market by Application
10.2.6.5 Russia Omega 3 Ingredients Market
10.2.6.5.1 Russia Omega 3 Ingredients Market by Type
10.2.6.5.2 Russia Omega 3 Ingredients Market by Source
10.2.6.5.3 Russia Omega 3 Ingredients Market by Application
10.2.6.6 Rest of Europe Omega 3 Ingredients Market
10.2.6.6.1 Rest of Europe Omega 3 Ingredients Market by Type
10.2.6.6.2 Rest of Europe Omega 3 Ingredients Market by Source
10.2.6.6.3 Rest of Europe Omega 3 Ingredients Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Omega 3 Ingredients Market Overview
10.3.2 Asia-Pacific Omega 3 Ingredients Market Forecasts and Analysis
10.3.3 Asia-Pacific Omega 3 Ingredients Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Omega 3 Ingredients Market Forecasts and Analysis - By Source
10.3.5 Asia-Pacific Omega 3 Ingredients Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Omega 3 Ingredients Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Omega 3 Ingredients Market
10.3.6.1.1 Australia Omega 3 Ingredients Market by Type
10.3.6.1.2 Australia Omega 3 Ingredients Market by Source
10.3.6.1.3 Australia Omega 3 Ingredients Market by Application
10.3.6.2 China Omega 3 Ingredients Market
10.3.6.2.1 China Omega 3 Ingredients Market by Type
10.3.6.2.2 China Omega 3 Ingredients Market by Source
10.3.6.2.3 China Omega 3 Ingredients Market by Application
10.3.6.3 India Omega 3 Ingredients Market
10.3.6.3.1 India Omega 3 Ingredients Market by Type
10.3.6.3.2 India Omega 3 Ingredients Market by Source
10.3.6.3.3 India Omega 3 Ingredients Market by Application
10.3.6.4 Japan Omega 3 Ingredients Market
10.3.6.4.1 Japan Omega 3 Ingredients Market by Type
10.3.6.4.2 Japan Omega 3 Ingredients Market by Source
10.3.6.4.3 Japan Omega 3 Ingredients Market by Application
10.3.6.5 South Korea Omega 3 Ingredients Market
10.3.6.5.1 South Korea Omega 3 Ingredients Market by Type
10.3.6.5.2 South Korea Omega 3 Ingredients Market by Source
10.3.6.5.3 South Korea Omega 3 Ingredients Market by Application
10.3.6.6 Rest of Asia-Pacific Omega 3 Ingredients Market
10.3.6.6.1 Rest of Asia-Pacific Omega 3 Ingredients Market by Type
10.3.6.6.2 Rest of Asia-Pacific Omega 3 Ingredients Market by Source
10.3.6.6.3 Rest of Asia-Pacific Omega 3 Ingredients Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Omega 3 Ingredients Market Overview
10.4.2 Middle East and Africa Omega 3 Ingredients Market Forecasts and Analysis
10.4.3 Middle East and Africa Omega 3 Ingredients Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Omega 3 Ingredients Market Forecasts and Analysis - By Source
10.4.5 Middle East and Africa Omega 3 Ingredients Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Omega 3 Ingredients Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Omega 3 Ingredients Market
10.4.6.1.1 South Africa Omega 3 Ingredients Market by Type
10.4.6.1.2 South Africa Omega 3 Ingredients Market by Source
10.4.6.1.3 South Africa Omega 3 Ingredients Market by Application
10.4.6.2 Saudi Arabia Omega 3 Ingredients Market
10.4.6.2.1 Saudi Arabia Omega 3 Ingredients Market by Type
10.4.6.2.2 Saudi Arabia Omega 3 Ingredients Market by Source
10.4.6.2.3 Saudi Arabia Omega 3 Ingredients Market by Application
10.4.6.3 U.A.E Omega 3 Ingredients Market
10.4.6.3.1 U.A.E Omega 3 Ingredients Market by Type
10.4.6.3.2 U.A.E Omega 3 Ingredients Market by Source
10.4.6.3.3 U.A.E Omega 3 Ingredients Market by Application
10.4.6.4 Rest of Middle East and Africa Omega 3 Ingredients Market
10.4.6.4.1 Rest of Middle East and Africa Omega 3 Ingredients Market by Type
10.4.6.4.2 Rest of Middle East and Africa Omega 3 Ingredients Market by Source
10.4.6.4.3 Rest of Middle East and Africa Omega 3 Ingredients Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Omega 3 Ingredients Market Overview
10.5.2 South and Central America Omega 3 Ingredients Market Forecasts and Analysis
10.5.3 South and Central America Omega 3 Ingredients Market Forecasts and Analysis - By Type
10.5.4 South and Central America Omega 3 Ingredients Market Forecasts and Analysis - By Source
10.5.5 South and Central America Omega 3 Ingredients Market Forecasts and Analysis - By Application
10.5.6 South and Central America Omega 3 Ingredients Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Omega 3 Ingredients Market
10.5.6.1.1 Brazil Omega 3 Ingredients Market by Type
10.5.6.1.2 Brazil Omega 3 Ingredients Market by Source
10.5.6.1.3 Brazil Omega 3 Ingredients Market by Application
10.5.6.2 Argentina Omega 3 Ingredients Market
10.5.6.2.1 Argentina Omega 3 Ingredients Market by Type
10.5.6.2.2 Argentina Omega 3 Ingredients Market by Source
10.5.6.2.3 Argentina Omega 3 Ingredients Market by Application
10.5.6.3 Rest of South and Central America Omega 3 Ingredients Market
10.5.6.3.1 Rest of South and Central America Omega 3 Ingredients Market by Type
10.5.6.3.2 Rest of South and Central America Omega 3 Ingredients Market by Source
10.5.6.3.3 Rest of South and Central America Omega 3 Ingredients 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. OMEGA 3 INGREDIENTS MARKET, KEY COMPANY PROFILES
12.1. ARISTA INDUSTRIES
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. COPEINCA ASA
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. CRODA, INC
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. FMC CORPORATION,
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. KONINKLIJKE DSM N.V
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. NEPTUNE WELLNESS SOLUTIONS INC
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. NU-MEGA INGREDIENTS PTY LTD
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. OMEGA PROTEIN 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. POLARIS S.A
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. PRONOVA BIOPHARMA ASA
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. Arista Industries
2. Copeinca ASA
3. Croda, Inc
4. FMC Corporation,
5. Koninklijke DSM N.V
6. Neptune Wellness Solutions Inc
7. NU-MEGA Ingredients Pty Ltd
8. Omega Protein Corporation
9. Polaris S.A
10. Pronova BioPharma ASA
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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