Phytonutrients Market Analysis 2021-2031 | Trends and Top Players
The Phytonutrients Market is expected to register a CAGR of 7% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The phytonutrients market report is segmented by type (carotenoids, flavonoids, phenolic compounds, phytosterols, and others). The market is segmented based on source (fruits and vegetables, cereals and pulses, herbes and trees, and others). The market is segmented based on application (pharmaceutical, food and beverage, cosmetics, animal nutrition, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Phytonutrients Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Phytonutrients Market Segmentation
Type- Carotenoids
- Flavonoids
- Phenolic Compounds
- Phytosterols
- Fruits and Vegetables
- Cereals and Pulses
- Herbes and Trees
- Pharmaceutical
- Food and Beverage
- Cosmetics
- Animal Nutrition
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Phytonutrients Market Growth Drivers- Rising Health Awareness Driving Phytonutrient Demand: The increasing health awareness and wellness concerns among consumers are one of the foremost factors in the growth of the phytonutrients market. With increasing awareness of the cause-and-effect relationship between one’s health and diet, several individuals are now on the lookout for products, especially natural and plant-based ones, that serve to improve health. Phytonutrients are a class of compounds that include but are not limited to, flavonoids, carotenoids, and polyphenols, showcasing properties that help prevent, fight, and heal disease. This in turn, has led to an increase in the supply and consumption of phytonutrient supplements and functional foods designed to assist in enhancing immunity and disorder management and discrimination health concerns.
- Shift Towards Clean-Label and Plant-Based Foods: The transition to clean-label, organic and all-natural food products has been on a steady rise in the recent past. People have shifted to seeking food free of artificial additives and chemicals, with a majority of them preferring organic and plant-based food additives to put into their diets. Phytonutrients are one of those lured to this sector as they come from fruits, vegetables, herbs and spices and hence can be added into foods and drinks comfortably. As growing numbers of individuals avoid meat and other animal products as well as organic goods, the supply of alternatives filled with phytonutrients is likely to be expanded.
- Aging Population Fueling Growth in Phytonutrient Market: The increasing geriatric population across the world is another potential factor propelling the growth of the phytonutrients market. With advancing age, several individuals are likely to experience health complications that include but may not be limited to heart complications, diabetes, mental illness, and weakened body defense mechanisms. Age-dependent diseases in this context have demonstrated that nutrients present in plants can be successful in dealing with such diseases. For instance, oxidative stress is mitigated by antioxidants such as polyphenols and carotenoids.
- Personalized Nutrition Driving Phytonutrient Customization: Rising rates of personalized nutrition means that phytonutrients would be used more in custom health solutions. Sophisticated advances in genomics and nutritional science have made it possible to individualize recommendations to the needs, health, genetic profile and lifestyle of each user. Concerns over factors such as heart health, brain health, or even anti-aging, companies are expected to start producing advanced customized phytonutrient-based food supplements. This is because a lot of people are becoming health conscious, and hence, they will seek solutions rather than treatments.
- Growth of Functional Foods and Drinks Enriched with Phytonutrients: Another emerging trend is the incorporation of phytonutrients into functional foods and drinks. Health-enhancing functional foods, those that provide additional health benefits on top of regular food, will gain market acceptance as people wish to lead healthier but busier lives. These may include soft drinks and toffees containing health-enriching ingredients besides food, such as music enhancers, including antioxidants, vitamins, and minerals. For example, in energy drinks, plant-based protein bars, or even value-added products such as probiotic dairy, food manufacturers will look to include phytogenic ingredients as consumers will want foods that are healthier and functional.
- Sustainability Trends: One of the trends that have influenced all sectors of the food and beverage industry, including the market for phytonutrients, is sustainability. Today’s consumers and companies are more careful about the environmental effects of the ingredients used in their products. As the younger population is more attentive to meat-free options, companies will be more keen on green sourcing and farming practices and use more phytonutrient ingredients in their products.
- Growth Opportunities in Emerging Markets: The phytonutrient markets are high-growth emerging markets and therefore, offer the phytonutrients market significant growth opportunities in regions like Asia Pacific, Latin America, and Africa. There are rising disposable incomes, increased access to information, and improvement in health consciousness, which is making the consumers in these regions look for natural, health-enhancing products. The soaring popularity of functional foods, dietary supplements, and organic products is set to boom in these regions, providing the manufacturers a chance for quick expansion in these high-growth regions. Furthermore, the people in these areas have in their traditional cuisines prepared foods that are highly enriched with phytonutrients, hence the high prospects of market growth.
- Innovative Phytonutrient-Enriched Products: With more people willing to pay more money for breakthrough health services and products, there is an excess of balmy turning raw ideas into phytonutrient-enriched products. The new products could be enriched dollies, beverages, or even functional foods with phytonutrients in combination with other therapeutic agents in one package to obtain more healing benefits for the consumer. For example, ingredients such as berries, turmeric, and other superfoods high in antioxidants can be used with pre and probiotics or protein to target health-seeking consumers with a product that comprises several additives that work well together. The development of such innovative products will help the firms compete in the already saturated market.
- Rising Demand for Phytonutrients in Vegetarian and Vegan Diets: As more and more people are adopting vegetarian diets and vegan life, there is an opportunity for the phytonutrients market to grow by capturing the plant-source nutrients better than ever before. Vegan and vegetarian consumers, who are even more than healthy eaters, have a strong preference for foods rich in phytonutrients that do not contain animal products.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Phytonutrients Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Phytonutrients Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Phytonutrients Market is estimated to witness a CAGR of 7% from 2023 to 2031
Increasing health consciousness and preventive healthcare is driving the market growth.
Archer Daniels Midland Company, BASF SE, CARGILL INC, Chr. Hansen A/S, CYANOTECH CORPORATION, Dohler GmbH, DSM N. V., FMC CORPORATION, KEMIN INDUSTRIES INC., and RAISIO PLC are the key players operating in the phytonutrients market.
Based on application, the food and beverage segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the phytonutrients market due to the strong growth of the food and beverage and pharmaceuticals industry in the region.
Personalized nutrition and phytonutrient supplementation is expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Phytonutrients Market - By Type
1.3.2 Phytonutrients Market - By Application
1.3.3 Phytonutrients Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHYTONUTRIENTS 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. PHYTONUTRIENTS 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. PHYTONUTRIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. PHYTONUTRIENTS - GLOBAL MARKET OVERVIEW
6.2. PHYTONUTRIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PHYTONUTRIENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CAROTENOIDS
7.3.1. Overview
7.3.2. Carotenoids Market Forecast and Analysis
7.4. FLAVONOIDS
7.4.1. Overview
7.4.2. Flavonoids Market Forecast and Analysis
7.5. PHENOLIC COMPOUNDS
7.5.1. Overview
7.5.2. Phenolic Compounds Market Forecast and Analysis
7.6. AND PHYTOSTEROLS
7.6.1. Overview
7.6.2. and Phytosterols Market Forecast and Analysis
8. PHYTONUTRIENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PHARMACEUTICAL
8.3.1. Overview
8.3.2. Pharmaceutical Market Forecast and Analysis
8.4. FOOD AND BEVERAGE
8.4.1. Overview
8.4.2. Food and Beverage Market Forecast and Analysis
8.5. PERSONAL CARE AND HYGIENE
8.5.1. Overview
8.5.2. Personal Care and Hygiene Market Forecast and Analysis
8.6. ANIMAL NUTRITION
8.6.1. Overview
8.6.2. Animal Nutrition Market Forecast and Analysis
8.7. HUMAN NUTRITION
8.7.1. Overview
8.7.2. Human Nutrition Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. PHYTONUTRIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Phytonutrients Market Overview
9.1.2 North America Phytonutrients Market Forecasts and Analysis
9.1.3 North America Phytonutrients Market Forecasts and Analysis - By Type
9.1.4 North America Phytonutrients Market Forecasts and Analysis - By Application
9.1.5 North America Phytonutrients Market Forecasts and Analysis - By Countries
9.1.5.1 United States Phytonutrients Market
9.1.5.1.1 United States Phytonutrients Market by Type
9.1.5.1.2 United States Phytonutrients Market by Application
9.1.5.2 Canada Phytonutrients Market
9.1.5.2.1 Canada Phytonutrients Market by Type
9.1.5.2.2 Canada Phytonutrients Market by Application
9.1.5.3 Mexico Phytonutrients Market
9.1.5.3.1 Mexico Phytonutrients Market by Type
9.1.5.3.2 Mexico Phytonutrients Market by Application
9.2. EUROPE
9.2.1 Europe Phytonutrients Market Overview
9.2.2 Europe Phytonutrients Market Forecasts and Analysis
9.2.3 Europe Phytonutrients Market Forecasts and Analysis - By Type
9.2.4 Europe Phytonutrients Market Forecasts and Analysis - By Application
9.2.5 Europe Phytonutrients Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Phytonutrients Market
9.2.5.1.1 Germany Phytonutrients Market by Type
9.2.5.1.2 Germany Phytonutrients Market by Application
9.2.5.2 France Phytonutrients Market
9.2.5.2.1 France Phytonutrients Market by Type
9.2.5.2.2 France Phytonutrients Market by Application
9.2.5.3 Italy Phytonutrients Market
9.2.5.3.1 Italy Phytonutrients Market by Type
9.2.5.3.2 Italy Phytonutrients Market by Application
9.2.5.4 United Kingdom Phytonutrients Market
9.2.5.4.1 United Kingdom Phytonutrients Market by Type
9.2.5.4.2 United Kingdom Phytonutrients Market by Application
9.2.5.5 Russia Phytonutrients Market
9.2.5.5.1 Russia Phytonutrients Market by Type
9.2.5.5.2 Russia Phytonutrients Market by Application
9.2.5.6 Rest of Europe Phytonutrients Market
9.2.5.6.1 Rest of Europe Phytonutrients Market by Type
9.2.5.6.2 Rest of Europe Phytonutrients Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Phytonutrients Market Overview
9.3.2 Asia-Pacific Phytonutrients Market Forecasts and Analysis
9.3.3 Asia-Pacific Phytonutrients Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Phytonutrients Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Phytonutrients Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Phytonutrients Market
9.3.5.1.1 Australia Phytonutrients Market by Type
9.3.5.1.2 Australia Phytonutrients Market by Application
9.3.5.2 China Phytonutrients Market
9.3.5.2.1 China Phytonutrients Market by Type
9.3.5.2.2 China Phytonutrients Market by Application
9.3.5.3 India Phytonutrients Market
9.3.5.3.1 India Phytonutrients Market by Type
9.3.5.3.2 India Phytonutrients Market by Application
9.3.5.4 Japan Phytonutrients Market
9.3.5.4.1 Japan Phytonutrients Market by Type
9.3.5.4.2 Japan Phytonutrients Market by Application
9.3.5.5 South Korea Phytonutrients Market
9.3.5.5.1 South Korea Phytonutrients Market by Type
9.3.5.5.2 South Korea Phytonutrients Market by Application
9.3.5.6 Rest of Asia-Pacific Phytonutrients Market
9.3.5.6.1 Rest of Asia-Pacific Phytonutrients Market by Type
9.3.5.6.2 Rest of Asia-Pacific Phytonutrients Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Phytonutrients Market Overview
9.4.2 Middle East and Africa Phytonutrients Market Forecasts and Analysis
9.4.3 Middle East and Africa Phytonutrients Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Phytonutrients Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Phytonutrients Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Phytonutrients Market
9.4.5.1.1 South Africa Phytonutrients Market by Type
9.4.5.1.2 South Africa Phytonutrients Market by Application
9.4.5.2 Saudi Arabia Phytonutrients Market
9.4.5.2.1 Saudi Arabia Phytonutrients Market by Type
9.4.5.2.2 Saudi Arabia Phytonutrients Market by Application
9.4.5.3 U.A.E Phytonutrients Market
9.4.5.3.1 U.A.E Phytonutrients Market by Type
9.4.5.3.2 U.A.E Phytonutrients Market by Application
9.4.5.4 Rest of Middle East and Africa Phytonutrients Market
9.4.5.4.1 Rest of Middle East and Africa Phytonutrients Market by Type
9.4.5.4.2 Rest of Middle East and Africa Phytonutrients Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Phytonutrients Market Overview
9.5.2 South and Central America Phytonutrients Market Forecasts and Analysis
9.5.3 South and Central America Phytonutrients Market Forecasts and Analysis - By Type
9.5.4 South and Central America Phytonutrients Market Forecasts and Analysis - By Application
9.5.5 South and Central America Phytonutrients Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Phytonutrients Market
9.5.5.1.1 Brazil Phytonutrients Market by Type
9.5.5.1.2 Brazil Phytonutrients Market by Application
9.5.5.2 Argentina Phytonutrients Market
9.5.5.2.1 Argentina Phytonutrients Market by Type
9.5.5.2.2 Argentina Phytonutrients Market by Application
9.5.5.3 Rest of South and Central America Phytonutrients Market
9.5.5.3.1 Rest of South and Central America Phytonutrients Market by Type
9.5.5.3.2 Rest of South and Central America Phytonutrients Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. PHYTONUTRIENTS MARKET, KEY COMPANY PROFILES
11.1. ARCHER DANIELS MIDLAND COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BASF SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CARGILL INC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHR. HANSEN A/S
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CYANOTECH CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DOHLER GMBH
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. DSM N. V.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. FMC CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. KEMIN INDUSTRIES INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. RAISIO PLC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Archer Daniels Midland Company
2. BASF SE
3. CARGILL INC
4. Chr. Hansen A/S
5. CYANOTECH CORPORATION
6. Dohler GmbH
7. DSM N. V.
8. FMC CORPORATION
9. KEMIN INDUSTRIES INC.
10. RAISIO 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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