Processed Seafood Market Updates by 2031
The processed seafood market is expected to register a CAGR of ~5.0% during 2023–2031. The increasing inclination of consumers towards ready-to-eat products is likely to remain a key trend in the market.
Processed Seafood Market Analysis
- The demand for processed seafood is propelled by various factors such as cost-effectiveness, greater nutritional value, and ease of availability due to increased production.
- The processed seafood market is widely influenced by factors like the growing popularity of seafood, globalization, and restrictions on trade.
- Technological advancements and evolving consumer preferences are driving growth in the processed seafood industry.
- The market is characterized by various products such as frozen seafood, smoked seafood, canned seafood, dried seafood, surimi seafood, and others.
Processed Seafood Market Overview
- Processed seafood has witnesses’ remarkable growth in global markets in recent years, reflecting a general trend towards ready-to-eat and nutritious food.
- Processed seafood refers to seafood products that have been boiled, smoked, cured, canned, frozen, and/or otherwise pre-processed before consumption.
- Factors fuelling the growth of the global processed seafood market are rising consumer interest, longer shelf life of processed seafood, and a wide variety of processed seafood products available.
- The market is driven by the demands for convenience and healthier food products and their cost-effectiveness compared to raw seafood.
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Processed Seafood 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.
Processed Seafood Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Processed Seafood Market Drivers and Opportunities
Surge in Demand for Convenience and Nutritious Food
- The growing interest in food products that are both easy to prepare coupled with health benefits, is driving demand for processed seafood products.
- Processed seafood offers a practical solution for individuals with busy lifestyles who want to include seafood in their diet without the hassle of extensive preparation or cooking.
- Furthermore, processed seafood, which tends to be available in cans, frozen packs, and other forms, also enhances its convenience by making the shelf life longer, helping with storage ease and consumption any time of the day.
- Furthermore, the nutritional value of processed seafood, characterized by its high protein content and low levels of fat and calories, is particularly appealing to health-conscious consumers seeking healthier food choices.
Rapid Urbanization and Demand for Processed Food
- With the rapid development of urban areas, these processed food products, which are more convenient and have a shelf life that can last for dozens of days, are in great demand.
- The processed seafood forms, such as canned, frozen or ready-to-eat are well suited for those urban consumers’ demands for swift and convenient meal preparations.
- The rising demand for processed seafood is also fuelled by the constantly growing population of urban consumers who show a preference for processed food products because they are easy to buy, carry, and eat with no hassle in urban working areas.
Processed Seafood Market Report Segmentation Analysis
Key segments that contributed to the derivation of the processed seafood market analysis are deployment type and enterprise size.
- Based on seafood type, the processed seafood market is divided into fish, shrimp, crabs, tuna, and others.
- based on technique, the processed seafood market is divided into salting, smoking, drying, canning, and others.
- Based on product type, the processed seafood market is divided into frozen products, smoked products, dried products, and others
Processed Seafood Market Share Analysis by Geography
- Processed Seafood 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 processed seafood market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the processed seafood market in these regions.
Processed Seafood Market Report Scope
Processed Seafood Market News and Recent Developments
The processed seafood market is evaluated by gathering qualitative and quantitative data post post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the processed seafood market are listed below:
- Nissui, a Japanese seafood processing company announced plans to invest in expanding production capacity at two of its US and EU subsidiaries to meet the growing demand for processed seafood in North America and European markets. (Source: Nissui, Press Release, February 2024)
Processed Seafood Market Report Coverage and Deliverables
The “Processed Seafood Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Processed seafood market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Processed seafood market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Processed seafood 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 in the processed seafood 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 processed seafood market is expected to grow at a CAGR of ~5% during the forecast period 2023 - 2031.
The surge in demand for convenience and nutritious food is one of the major factors driving the processed seafood market.
The increasing inclination of consumers toward ready-to-eat products is anticipated to play a significant role in the global processed seafood market in the coming years.
The leading players operating in the processed seafood market are Trident Seafoods, Universal Seafood, Mowi ASA, China National Fishery Corporation (CNFC), Austevoll Seafood ASA, Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd, Thai Union Frozen Products, Leroy Seafood Group ASA, and Nueva Pescanova Group.
The report can be delivered in PDF/PPT format; we can also share an 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 Processed Seafood Market - By Seafood Type
1.3.2 Processed Seafood Market - By Technique
1.3.3 Processed Seafood Market - By Product Type
1.3.4 Processed Seafood Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PROCESSED SEAFOOD 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. PROCESSED SEAFOOD 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. PROCESSED SEAFOOD MARKET - GLOBAL MARKET ANALYSIS
6.1. PROCESSED SEAFOOD - GLOBAL MARKET OVERVIEW
6.2. PROCESSED SEAFOOD - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PROCESSED SEAFOOD MARKET - REVENUE AND FORECASTS TO 2028 - SEAFOOD TYPE
7.1. OVERVIEW
7.2. SEAFOOD TYPE MARKET FORECASTS AND ANALYSIS
7.3. FISH
7.3.1. Overview
7.3.2. Fish Market Forecast and Analysis
7.4. SHRIMPS
7.4.1. Overview
7.4.2. Shrimps Market Forecast and Analysis
7.5. CRABS
7.5.1. Overview
7.5.2. Crabs Market Forecast and Analysis
7.6. TUNA
7.6.1. Overview
7.6.2. Tuna Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. PROCESSED SEAFOOD MARKET - REVENUE AND FORECASTS TO 2028 - TECHNIQUE
8.1. OVERVIEW
8.2. TECHNIQUE MARKET FORECASTS AND ANALYSIS
8.3. SALTING
8.3.1. Overview
8.3.2. Salting Market Forecast and Analysis
8.4. SMOKING
8.4.1. Overview
8.4.2. Smoking Market Forecast and Analysis
8.5. DRYING
8.5.1. Overview
8.5.2. Drying Market Forecast and Analysis
8.6. CANNING
8.6.1. Overview
8.6.2. Canning Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PROCESSED SEAFOOD MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
9.1. OVERVIEW
9.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
9.3. FROZEN PRODUCTS
9.3.1. Overview
9.3.2. Frozen Products Market Forecast and Analysis
9.4. SMOKED PRODUCTS
9.4.1. Overview
9.4.2. Smoked Products Market Forecast and Analysis
9.5. DRIED PRODUCTS
9.5.1. Overview
9.5.2. Dried Products Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. PROCESSED SEAFOOD MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Processed Seafood Market Overview
10.1.2 North America Processed Seafood Market Forecasts and Analysis
10.1.3 North America Processed Seafood Market Forecasts and Analysis - By Seafood Type
10.1.4 North America Processed Seafood Market Forecasts and Analysis - By Technique
10.1.5 North America Processed Seafood Market Forecasts and Analysis - By Product Type
10.1.6 North America Processed Seafood Market Forecasts and Analysis - By Countries
10.1.6.1 United States Processed Seafood Market
10.1.6.1.1 United States Processed Seafood Market by Seafood Type
10.1.6.1.2 United States Processed Seafood Market by Technique
10.1.6.1.3 United States Processed Seafood Market by Product Type
10.1.6.2 Canada Processed Seafood Market
10.1.6.2.1 Canada Processed Seafood Market by Seafood Type
10.1.6.2.2 Canada Processed Seafood Market by Technique
10.1.6.2.3 Canada Processed Seafood Market by Product Type
10.1.6.3 Mexico Processed Seafood Market
10.1.6.3.1 Mexico Processed Seafood Market by Seafood Type
10.1.6.3.2 Mexico Processed Seafood Market by Technique
10.1.6.3.3 Mexico Processed Seafood Market by Product Type
10.2. EUROPE
10.2.1 Europe Processed Seafood Market Overview
10.2.2 Europe Processed Seafood Market Forecasts and Analysis
10.2.3 Europe Processed Seafood Market Forecasts and Analysis - By Seafood Type
10.2.4 Europe Processed Seafood Market Forecasts and Analysis - By Technique
10.2.5 Europe Processed Seafood Market Forecasts and Analysis - By Product Type
10.2.6 Europe Processed Seafood Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Processed Seafood Market
10.2.6.1.1 Germany Processed Seafood Market by Seafood Type
10.2.6.1.2 Germany Processed Seafood Market by Technique
10.2.6.1.3 Germany Processed Seafood Market by Product Type
10.2.6.2 France Processed Seafood Market
10.2.6.2.1 France Processed Seafood Market by Seafood Type
10.2.6.2.2 France Processed Seafood Market by Technique
10.2.6.2.3 France Processed Seafood Market by Product Type
10.2.6.3 Italy Processed Seafood Market
10.2.6.3.1 Italy Processed Seafood Market by Seafood Type
10.2.6.3.2 Italy Processed Seafood Market by Technique
10.2.6.3.3 Italy Processed Seafood Market by Product Type
10.2.6.4 United Kingdom Processed Seafood Market
10.2.6.4.1 United Kingdom Processed Seafood Market by Seafood Type
10.2.6.4.2 United Kingdom Processed Seafood Market by Technique
10.2.6.4.3 United Kingdom Processed Seafood Market by Product Type
10.2.6.5 Russia Processed Seafood Market
10.2.6.5.1 Russia Processed Seafood Market by Seafood Type
10.2.6.5.2 Russia Processed Seafood Market by Technique
10.2.6.5.3 Russia Processed Seafood Market by Product Type
10.2.6.6 Rest of Europe Processed Seafood Market
10.2.6.6.1 Rest of Europe Processed Seafood Market by Seafood Type
10.2.6.6.2 Rest of Europe Processed Seafood Market by Technique
10.2.6.6.3 Rest of Europe Processed Seafood Market by Product Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Processed Seafood Market Overview
10.3.2 Asia-Pacific Processed Seafood Market Forecasts and Analysis
10.3.3 Asia-Pacific Processed Seafood Market Forecasts and Analysis - By Seafood Type
10.3.4 Asia-Pacific Processed Seafood Market Forecasts and Analysis - By Technique
10.3.5 Asia-Pacific Processed Seafood Market Forecasts and Analysis - By Product Type
10.3.6 Asia-Pacific Processed Seafood Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Processed Seafood Market
10.3.6.1.1 Australia Processed Seafood Market by Seafood Type
10.3.6.1.2 Australia Processed Seafood Market by Technique
10.3.6.1.3 Australia Processed Seafood Market by Product Type
10.3.6.2 China Processed Seafood Market
10.3.6.2.1 China Processed Seafood Market by Seafood Type
10.3.6.2.2 China Processed Seafood Market by Technique
10.3.6.2.3 China Processed Seafood Market by Product Type
10.3.6.3 India Processed Seafood Market
10.3.6.3.1 India Processed Seafood Market by Seafood Type
10.3.6.3.2 India Processed Seafood Market by Technique
10.3.6.3.3 India Processed Seafood Market by Product Type
10.3.6.4 Japan Processed Seafood Market
10.3.6.4.1 Japan Processed Seafood Market by Seafood Type
10.3.6.4.2 Japan Processed Seafood Market by Technique
10.3.6.4.3 Japan Processed Seafood Market by Product Type
10.3.6.5 South Korea Processed Seafood Market
10.3.6.5.1 South Korea Processed Seafood Market by Seafood Type
10.3.6.5.2 South Korea Processed Seafood Market by Technique
10.3.6.5.3 South Korea Processed Seafood Market by Product Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Processed Seafood Market Overview
10.4.2 Middle East and Africa Processed Seafood Market Forecasts and Analysis
10.4.3 Middle East and Africa Processed Seafood Market Forecasts and Analysis - By Seafood Type
10.4.4 Middle East and Africa Processed Seafood Market Forecasts and Analysis - By Technique
10.4.5 Middle East and Africa Processed Seafood Market Forecasts and Analysis - By Product Type
10.4.6 Middle East and Africa Processed Seafood Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Processed Seafood Market
10.4.6.1.1 South Africa Processed Seafood Market by Seafood Type
10.4.6.1.2 South Africa Processed Seafood Market by Technique
10.4.6.1.3 South Africa Processed Seafood Market by Product Type
10.4.6.2 Saudi Arabia Processed Seafood Market
10.4.6.2.1 Saudi Arabia Processed Seafood Market by Seafood Type
10.4.6.2.2 Saudi Arabia Processed Seafood Market by Technique
10.4.6.2.3 Saudi Arabia Processed Seafood Market by Product Type
10.4.6.3 U.A.E Processed Seafood Market
10.4.6.3.1 U.A.E Processed Seafood Market by Seafood Type
10.4.6.3.2 U.A.E Processed Seafood Market by Technique
10.4.6.3.3 U.A.E Processed Seafood Market by Product Type
10.4.6.4 Rest of Middle East and Africa Processed Seafood Market
10.4.6.4.1 Rest of Middle East and Africa Processed Seafood Market by Seafood Type
10.4.6.4.2 Rest of Middle East and Africa Processed Seafood Market by Technique
10.4.6.4.3 Rest of Middle East and Africa Processed Seafood Market by Product Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Processed Seafood Market Overview
10.5.2 South and Central America Processed Seafood Market Forecasts and Analysis
10.5.3 South and Central America Processed Seafood Market Forecasts and Analysis - By Seafood Type
10.5.4 South and Central America Processed Seafood Market Forecasts and Analysis - By Technique
10.5.5 South and Central America Processed Seafood Market Forecasts and Analysis - By Product Type
10.5.6 South and Central America Processed Seafood Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Processed Seafood Market
10.5.6.1.1 Brazil Processed Seafood Market by Seafood Type
10.5.6.1.2 Brazil Processed Seafood Market by Technique
10.5.6.1.3 Brazil Processed Seafood Market by Product Type
10.5.6.2 Argentina Processed Seafood Market
10.5.6.2.1 Argentina Processed Seafood Market by Seafood Type
10.5.6.2.2 Argentina Processed Seafood Market by Technique
10.5.6.2.3 Argentina Processed Seafood Market by Product Type
10.5.6.3 Rest of South and Central America Processed Seafood Market
10.5.6.3.1 Rest of South and Central America Processed Seafood Market by Seafood Type
10.5.6.3.2 Rest of South and Central America Processed Seafood Market by Technique
10.5.6.3.3 Rest of South and Central America Processed Seafood Market by Product Type
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. PROCESSED SEAFOOD MARKET, KEY COMPANY PROFILES
12.1. AQUACHILE
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. AUSTEVOLL SEAFOOD 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. CHINA NATIONAL FISHERY CORPORATION (CNFC)
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. HIGH LINER FOODS
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. MARINE HARVEST ASA
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. SEABOARD 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. THE UNION FROZEN PRODUCTS CO., 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. TRIDENT SEAFOOD
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. TROPICAL GENERAL INVESTMENTS NIGERIA LTD.
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. UNIVERSAL SEAFOOD
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. Aquachile
2. Austevoll Seafood ASA
3. China National Fishery Corporation (CNFC)
4. High Liner Foods
5. Marine Harvest ASA
6. Seaboard corporation
7.The Union Frozen Products Co., Ltd.
8. Trident seafood
9. Tropical general investments Nigeria Ltd.
10. Universal seafood
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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