Starter Culture Market Growth Drivers and Opportunities by 2031
The Starter Culture Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by type (mold/fungi, yeast and bacteria). The report further presents analysis based on application [dairy products (cheese, yogurt, butter and others), meat and seafood, beverages (alcoholic beverages and non-alcoholic beverages) and others]. The global analysis is further broken-down at 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 and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Starter Culture 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.
Starter Culture Market Segmentation
Type- Mold/Fungi
- Yeast
- Bacteria
Strategic Insights
Starter Culture Market Growth Drivers- Food and Beverage Industry Driving Starter Culture Market Growth: The growth of the starter culture market can be significantly attributed to the food and beverage industries. Starters play a vital role as raw microorganisms in numerous food and beverage items, like dairy products ranging from cheese, yogurt, and other fermented products. Other food baked goods, as well as alcoholic products such as beer and wines, require starter cultures as essential ingredients. Owing to the constantly increasing demand for high-quality, savory, and nutritious food and beverage products, starter culture is becoming popular within this industry.
- Pharmaceutical and Nutraceutical Sectors Boosting Demand for Starter Cultures: The pharmaceutical and nutraceutical industries are progressing well into a booming starter culture market. The starter culture finds its use in producing probiotic supplements and functional foods, two popular items with an ever-increasing consumer demand evident from their health benefits. Consumer awareness about fermented food is increasing, thus more demanding starter culture physiological products in these industries.
- Rising Demand for Starter Cultures in Livestock Feeds and Pet Foods: The increasing demand for quality livestock feeds and pet foods contributes to the starter culture market. Starter culture products include fermented feeds for animals and pets as one intends to improve the nutritional quality and taste and increase their shelf life. Promotions concerning animal health and welfare contribute substantially to the increased application of starter culture in this market segment.
- Advances in Microbial Strain Identification and Characterization: The starter culture market has witnessed advancement in microbial strain identification and characterization improvements. The arrival of novel technological innovations like genomic sequencing and bioinformatics has equipped industries with faster and more precise selection procedures for individual strains and developed tailored starter cultures.
- Rising Demand for Probiotic and Functional Starter Cultures: There has been an increase in probiotic and functional starter culture demand, primarily due to rising consumer interest in health-promoting food and beverage products. The manufacturers have also been investing significantly into developing new starter culture formulations that might offer extra benefits, such as improved nutritional value, gut health, and sensory attributes.
- Automation and Digitalization Enhancing Starter Culture Production: The shift towards automation and digitalization in manufacturing is underway in the starter culture market, which is expected to enhance efficiency, quality assurance, and traceability. Such advanced production technologies like robotics and data analytics fermentation systems put manufacturers in the right position to maximize their operations by integrating further with current market requirements.
- Tailored Starter Culture Solutions for Specific Industries: The more specific the industries become in their needs, the more requirements there are for tailored starter culture solutions. Therefore, manufacturers develop starter culture formulations for a particular end-use sector, which can increase their margins, such as dairy, bakery, and animal feed.
- Growth Opportunities in Developing Economies: The starter culture market can grow significantly in developing economies where the demand for processed and fermented food and beverage items is expanding. This can be done quickly by changing the formulations of the products and marketing strategies per the needs and requirements of these new markets, thus opening avenues for new revenue for the manufacturers to broaden their global horizons.
- Collaborations for Innovation and New Product Applications: There are opportunities for starter culture producers to work with research institutes, universities, and other industries to support innovative ideas and new product applications. This will eventually lead to new starter culture formulations, better production processes, and new market segments.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Starter Culture 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 Starter Culture 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
Have a question?
Shejal
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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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.
Frequently Asked Questions
The Starter Culture Market is estimated to witness a CAGR of 4% from 2023 to 2031
Growing demand for alcoholic beverages is driving the market growth
Chr. Hansen A/S; International Flavors and Fragrances, Inc; Lactina Ltd; DSM; Lallemand Inc. are some of the key players operating in the starter culture market
On the basis of geography, the starter culture market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Advancements in strain identification and characterization 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 Starter Culture Market - By Application
1.3.2 Starter Culture Market - By Microorganism
1.3.3 Starter Culture Market - By Composition
1.3.4 Starter Culture Market - By Form
1.3.5 Starter Culture Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STARTER CULTURE 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. STARTER CULTURE 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. STARTER CULTURE MARKET - GLOBAL MARKET ANALYSIS
6.1. STARTER CULTURE - GLOBAL MARKET OVERVIEW
6.2. STARTER CULTURE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. STARTER CULTURE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. DAIRY AND DAIRY-BASED PRODUCTS
7.3.1. Overview
7.3.2. Dairy and Dairy-Based Products Market Forecast and Analysis
7.4. MEAT AND SEAFOOD
7.4.1. Overview
7.4.2. Meat and Seafood Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. STARTER CULTURE MARKET - REVENUE AND FORECASTS TO 2028 - MICROORGANISM
8.1. OVERVIEW
8.2. MICROORGANISM MARKET FORECASTS AND ANALYSIS
8.3. BACTERIA
8.3.1. Overview
8.3.2. Bacteria Market Forecast and Analysis
8.4. YEASTS
8.4.1. Overview
8.4.2. Yeasts Market Forecast and Analysis
8.5. MOLDS
8.5.1. Overview
8.5.2. Molds Market Forecast and Analysis
9. STARTER CULTURE MARKET - REVENUE AND FORECASTS TO 2028 - COMPOSITION
9.1. OVERVIEW
9.2. COMPOSITION MARKET FORECASTS AND ANALYSIS
9.3. MULTI-STRAIN MIX
9.3.1. Overview
9.3.2. Multi-Strain Mix Market Forecast and Analysis
9.4. SINGLE STRAIN
9.4.1. Overview
9.4.2. Single Strain Market Forecast and Analysis
9.5. MULTI-STRAIN
9.5.1. Overview
9.5.2. Multi-Strain Market Forecast and Analysis
10. STARTER CULTURE MARKET - REVENUE AND FORECASTS TO 2028 - FORM
10.1. OVERVIEW
10.2. FORM MARKET FORECASTS AND ANALYSIS
10.3. FREEZE-DRIED
10.3.1. Overview
10.3.2. Freeze-Dried Market Forecast and Analysis
10.4. FROZEN
10.4.1. Overview
10.4.2. Frozen Market Forecast and Analysis
11. STARTER CULTURE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Starter Culture Market Overview
11.1.2 North America Starter Culture Market Forecasts and Analysis
11.1.3 North America Starter Culture Market Forecasts and Analysis - By Application
11.1.4 North America Starter Culture Market Forecasts and Analysis - By Microorganism
11.1.5 North America Starter Culture Market Forecasts and Analysis - By Composition
11.1.6 North America Starter Culture Market Forecasts and Analysis - By Form
11.1.7 North America Starter Culture Market Forecasts and Analysis - By Countries
11.1.7.1 United States Starter Culture Market
11.1.7.1.1 United States Starter Culture Market by Application
11.1.7.1.2 United States Starter Culture Market by Microorganism
11.1.7.1.3 United States Starter Culture Market by Composition
11.1.7.1.4 United States Starter Culture Market by Form
11.1.7.2 Canada Starter Culture Market
11.1.7.2.1 Canada Starter Culture Market by Application
11.1.7.2.2 Canada Starter Culture Market by Microorganism
11.1.7.2.3 Canada Starter Culture Market by Composition
11.1.7.2.4 Canada Starter Culture Market by Form
11.1.7.3 Mexico Starter Culture Market
11.1.7.3.1 Mexico Starter Culture Market by Application
11.1.7.3.2 Mexico Starter Culture Market by Microorganism
11.1.7.3.3 Mexico Starter Culture Market by Composition
11.1.7.3.4 Mexico Starter Culture Market by Form
11.2. EUROPE
11.2.1 Europe Starter Culture Market Overview
11.2.2 Europe Starter Culture Market Forecasts and Analysis
11.2.3 Europe Starter Culture Market Forecasts and Analysis - By Application
11.2.4 Europe Starter Culture Market Forecasts and Analysis - By Microorganism
11.2.5 Europe Starter Culture Market Forecasts and Analysis - By Composition
11.2.6 Europe Starter Culture Market Forecasts and Analysis - By Form
11.2.7 Europe Starter Culture Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Starter Culture Market
11.2.7.1.1 Germany Starter Culture Market by Application
11.2.7.1.2 Germany Starter Culture Market by Microorganism
11.2.7.1.3 Germany Starter Culture Market by Composition
11.2.7.1.4 Germany Starter Culture Market by Form
11.2.7.2 France Starter Culture Market
11.2.7.2.1 France Starter Culture Market by Application
11.2.7.2.2 France Starter Culture Market by Microorganism
11.2.7.2.3 France Starter Culture Market by Composition
11.2.7.2.4 France Starter Culture Market by Form
11.2.7.3 Italy Starter Culture Market
11.2.7.3.1 Italy Starter Culture Market by Application
11.2.7.3.2 Italy Starter Culture Market by Microorganism
11.2.7.3.3 Italy Starter Culture Market by Composition
11.2.7.3.4 Italy Starter Culture Market by Form
11.2.7.4 United Kingdom Starter Culture Market
11.2.7.4.1 United Kingdom Starter Culture Market by Application
11.2.7.4.2 United Kingdom Starter Culture Market by Microorganism
11.2.7.4.3 United Kingdom Starter Culture Market by Composition
11.2.7.4.4 United Kingdom Starter Culture Market by Form
11.2.7.5 Russia Starter Culture Market
11.2.7.5.1 Russia Starter Culture Market by Application
11.2.7.5.2 Russia Starter Culture Market by Microorganism
11.2.7.5.3 Russia Starter Culture Market by Composition
11.2.7.5.4 Russia Starter Culture Market by Form
11.2.7.6 Rest of Europe Starter Culture Market
11.2.7.6.1 Rest of Europe Starter Culture Market by Application
11.2.7.6.2 Rest of Europe Starter Culture Market by Microorganism
11.2.7.6.3 Rest of Europe Starter Culture Market by Composition
11.2.7.6.4 Rest of Europe Starter Culture Market by Form
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Starter Culture Market Overview
11.3.2 Asia-Pacific Starter Culture Market Forecasts and Analysis
11.3.3 Asia-Pacific Starter Culture Market Forecasts and Analysis - By Application
11.3.4 Asia-Pacific Starter Culture Market Forecasts and Analysis - By Microorganism
11.3.5 Asia-Pacific Starter Culture Market Forecasts and Analysis - By Composition
11.3.6 Asia-Pacific Starter Culture Market Forecasts and Analysis - By Form
11.3.7 Asia-Pacific Starter Culture Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Starter Culture Market
11.3.7.1.1 Australia Starter Culture Market by Application
11.3.7.1.2 Australia Starter Culture Market by Microorganism
11.3.7.1.3 Australia Starter Culture Market by Composition
11.3.7.1.4 Australia Starter Culture Market by Form
11.3.7.2 China Starter Culture Market
11.3.7.2.1 China Starter Culture Market by Application
11.3.7.2.2 China Starter Culture Market by Microorganism
11.3.7.2.3 China Starter Culture Market by Composition
11.3.7.2.4 China Starter Culture Market by Form
11.3.7.3 India Starter Culture Market
11.3.7.3.1 India Starter Culture Market by Application
11.3.7.3.2 India Starter Culture Market by Microorganism
11.3.7.3.3 India Starter Culture Market by Composition
11.3.7.3.4 India Starter Culture Market by Form
11.3.7.4 Japan Starter Culture Market
11.3.7.4.1 Japan Starter Culture Market by Application
11.3.7.4.2 Japan Starter Culture Market by Microorganism
11.3.7.4.3 Japan Starter Culture Market by Composition
11.3.7.4.4 Japan Starter Culture Market by Form
11.3.7.5 South Korea Starter Culture Market
11.3.7.5.1 South Korea Starter Culture Market by Application
11.3.7.5.2 South Korea Starter Culture Market by Microorganism
11.3.7.5.3 South Korea Starter Culture Market by Composition
11.3.7.5.4 South Korea Starter Culture Market by Form
11.3.7.6 Rest of Asia-Pacific Starter Culture Market
11.3.7.6.1 Rest of Asia-Pacific Starter Culture Market by Application
11.3.7.6.2 Rest of Asia-Pacific Starter Culture Market by Microorganism
11.3.7.6.3 Rest of Asia-Pacific Starter Culture Market by Composition
11.3.7.6.4 Rest of Asia-Pacific Starter Culture Market by Form
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Starter Culture Market Overview
11.4.2 Middle East and Africa Starter Culture Market Forecasts and Analysis
11.4.3 Middle East and Africa Starter Culture Market Forecasts and Analysis - By Application
11.4.4 Middle East and Africa Starter Culture Market Forecasts and Analysis - By Microorganism
11.4.5 Middle East and Africa Starter Culture Market Forecasts and Analysis - By Composition
11.4.6 Middle East and Africa Starter Culture Market Forecasts and Analysis - By Form
11.4.7 Middle East and Africa Starter Culture Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Starter Culture Market
11.4.7.1.1 South Africa Starter Culture Market by Application
11.4.7.1.2 South Africa Starter Culture Market by Microorganism
11.4.7.1.3 South Africa Starter Culture Market by Composition
11.4.7.1.4 South Africa Starter Culture Market by Form
11.4.7.2 Saudi Arabia Starter Culture Market
11.4.7.2.1 Saudi Arabia Starter Culture Market by Application
11.4.7.2.2 Saudi Arabia Starter Culture Market by Microorganism
11.4.7.2.3 Saudi Arabia Starter Culture Market by Composition
11.4.7.2.4 Saudi Arabia Starter Culture Market by Form
11.4.7.3 U.A.E Starter Culture Market
11.4.7.3.1 U.A.E Starter Culture Market by Application
11.4.7.3.2 U.A.E Starter Culture Market by Microorganism
11.4.7.3.3 U.A.E Starter Culture Market by Composition
11.4.7.3.4 U.A.E Starter Culture Market by Form
11.4.7.4 Rest of Middle East and Africa Starter Culture Market
11.4.7.4.1 Rest of Middle East and Africa Starter Culture Market by Application
11.4.7.4.2 Rest of Middle East and Africa Starter Culture Market by Microorganism
11.4.7.4.3 Rest of Middle East and Africa Starter Culture Market by Composition
11.4.7.4.4 Rest of Middle East and Africa Starter Culture Market by Form
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Starter Culture Market Overview
11.5.2 South and Central America Starter Culture Market Forecasts and Analysis
11.5.3 South and Central America Starter Culture Market Forecasts and Analysis - By Application
11.5.4 South and Central America Starter Culture Market Forecasts and Analysis - By Microorganism
11.5.5 South and Central America Starter Culture Market Forecasts and Analysis - By Composition
11.5.6 South and Central America Starter Culture Market Forecasts and Analysis - By Form
11.5.7 South and Central America Starter Culture Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Starter Culture Market
11.5.7.1.1 Brazil Starter Culture Market by Application
11.5.7.1.2 Brazil Starter Culture Market by Microorganism
11.5.7.1.3 Brazil Starter Culture Market by Composition
11.5.7.1.4 Brazil Starter Culture Market by Form
11.5.7.2 Argentina Starter Culture Market
11.5.7.2.1 Argentina Starter Culture Market by Application
11.5.7.2.2 Argentina Starter Culture Market by Microorganism
11.5.7.2.3 Argentina Starter Culture Market by Composition
11.5.7.2.4 Argentina Starter Culture Market by Form
11.5.7.3 Rest of South and Central America Starter Culture Market
11.5.7.3.1 Rest of South and Central America Starter Culture Market by Application
11.5.7.3.2 Rest of South and Central America Starter Culture Market by Microorganism
11.5.7.3.3 Rest of South and Central America Starter Culture Market by Composition
11.5.7.3.4 Rest of South and Central America Starter Culture Market by Form
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. STARTER CULTURE MARKET, KEY COMPANY PROFILES
13.1. ABSOURCE BIOLOGICS
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. BIOCHEM SRL
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. CHR. HANSEN HOLDING A/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. DALTON BIOTECNOLOGIE
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. DUPONT
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. GEWURZMULLER
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. IGEA DAIRY CULTURES
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. LB BULGARICUM
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. MEDITERRANEA BIOTECNOLOGIE
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. ROYAL DSM N.V.
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
1. Absource Biologics
2. Biochem SRL
3. CHR. Hansen Holding A/S
4. Dalton Biotecnologie
5. DuPont
6. Gewurzmuller
7. IGEA Dairy Cultures
8. LB Bulgaricum
9. Mediterranea Biotecnologie
10. Royal DSM N.V.
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.
Get Free Sample For