Vegan Pasta Market Forecast, Trends, Scope by 2031
The Vegan Pasta 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 report is segmented by source (wheat, chickpea, beans and lentils, others), Type (penne, spaghetti, elbows, fusilli, others), and category (organic, conventional). The report further presents analysis based on distribution channel (supermarkets and hypermarkets, convenience stores, online retail, and others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the Report
The report Vegan Pasta 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.
Vegan Pasta Market Segmentation
Source
- Wheat
- Chickpea
- Beans and Lentils
- Others
Type
- Penne
- Spaghetti
- Elbows
- Fusilli
- Others
Category
- Organic
- Conventional
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
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Vegan Pasta Market: Strategic Insights
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Vegan Pasta Market Growth Drivers
- Convenience and Demand for Ready-to-Cook Pasta: Pasta is recognized as one of the affordable and easy food products to cook, hence so widely used in most houses around the world. Ready-to-cook meal demand is on the rise while consumers seek convenience in their food choices. This trend is all the more apparent with busy families and working individuals opting to find quick meal solutions.
- Health-Conscious Consumers Drive Demand for Healthier Pasta: Nowadays, consumers are becoming health-conscious and demanding healthier options, including whole grain, gluten-free, vegan, and other healthier pasta varieties. This trend is attributed to millennials and health-conscious consumers, who are always looking for ways to try newer things. Hence, the demand for vegan pasta is boosting across the globe.
- Economic Prosperity Boosts Vegan Pasta Market Growth: Increased standards of living and disposable income improved living conditions, many of which ended up experiencing specialty vegan food products such as vegan pasta. Economic prosperity allows for increased spending on specialty ingredients, thereby sustaining the growth of the vegan pasta market globally.
Vegan Pasta Market Future Trends
- Plant-Based Movement Drives Vegan Pasta Demand: Increased awareness of plant-based alternatives for every type of traditionally produced food product is likely to boost demand for vegan pasta. This movement further falls under the broader value trend toward non-animal-based products, a possible reflection of the health, environmental, and ethical drivers.
- Innovative Ingredients Enhance Vegan Pasta's Nutritional Appeal: Manufacturers will most likely be more enthusiastic about innovative ingredients that will support nutritional profiles and intensify flavors for vegan pasta, such as using legumes, whole grains, and alternative flours meeting vegan diets but also pleasing the health-conscious consumer seeking a high protein and gluten-free alternative.
- Sustainability Focus Strengthens Vegan Pasta Brand Loyalty: Due to growing awareness of sustainability issues, production practices in the vegan pasta market are undergoing increased concern. This factor tends to attract consumers who will be more willing to be associated with brands working hard to promote sustainability by making sure that their sourcing and manufacturing processes align with eco-friendliness. Such efforts enhance brand loyalty and market share.
Vegan Pasta Market Opportunities
- Product Innovation: Continuous product development has been the precursor to market growth in the case of pasta. The new developments of flavors, exotic ingredients, and appealing packaging are the main attractions for the consumers toward the product. This approach not only caters to the very diverse taste preferences but also gives brands the opportunity to be different in competition.
- Globalization Fuels Rising Pasta Consumption in Asia: Westernized food habits are highly prized in several regions across the world, particularly in developing economies; therefore, it is one of the significant factors as to why people have adopted pasta. There is an escalation in the consumption of pasta in India and China due to globalization, which has made Italian cuisine a mainstay.
- E-Commerce Growth Expands Vegan Pasta Market Reach: The pandemic has further accelerated the shift in shopping behavior towards the online platform. E-commerce, however, offers tremendous opportunities for vegan pasta brands to reach out to consumers in ways that are otherwise not possible. This trend can continue; therefore, a single growth avenue for the vegan pasta market is going to be one of the online platforms.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vegan Pasta 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 Vegan Pasta 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.
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 report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Based on geography, Europe held the largest share of the vegan pasta market.
The growing demand for ready-to-eat and convenience products and rising popularity of plant-based vegan products are the key factors driving the vegan pasta market growth.
The rising veganism trend and innovation in gluten-free options is likely to remain the key trends in the market.
Pastificio Lucio Garofalo SpA, The Only Bean LLC, Dreamfields Foods Inc, F.lli De Cecco di Filippo SpA, Barilla America Inc, Banza LLC, Rummo SpA, Eden Foods Inc, Bionaturae LLC are among the leading players operating in the vegan pasta market.
The Vegan Pasta Market is estimated to witness a CAGR of 7 % from 2023 to 2031
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 Vegan Pasta Market - By Product Type
1.3.2 Vegan Pasta Market - By Source
1.3.3 Vegan Pasta Market - By Packaging Type
1.3.4 Vegan Pasta Market - By Distribution Channel
1.3.5 Vegan Pasta Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEGAN PASTA 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. VEGAN PASTA 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. VEGAN PASTA MARKET - GLOBAL MARKET ANALYSIS
6.1. VEGAN PASTA - GLOBAL MARKET OVERVIEW
6.2. VEGAN PASTA - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VEGAN PASTA MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PENNE, SPAGHETTI, ELBOWS, FETTUCCINE AND LINGUINE, FILLED PASTA, OTHERS
7.3.1. Overview
7.3.2. Penne, Spaghetti, Elbows, Fettuccine and Linguine, Filled Pasta, Others Market Forecast and Analysis
8. VEGAN PASTA MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
8.1. OVERVIEW
8.2. SOURCE MARKET FORECASTS AND ANALYSIS
8.3. WHEAT, RICE, LEGUMES, BUCKWHEAT, OATS, OTHERS
8.3.1. Overview
8.3.2. Wheat, Rice, Legumes, Buckwheat, Oats, Others Market Forecast and Analysis
9. VEGAN PASTA MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGING TYPE
9.1. OVERVIEW
9.2. PACKAGING TYPE MARKET FORECASTS AND ANALYSIS
9.3. BOXES, TRAYS, PACKETS AND POUCHES
9.3.1. Overview
9.3.2. Boxes, Trays, Packets and Pouches Market Forecast and Analysis
10. VEGAN PASTA MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
10.1. OVERVIEW
10.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
10.3. HYPERMARKETS/SUPERMARKETS, CONVENIENCE STORES, DISCOUNT STORES, FOOD AND DRINK SPECIALTY STORES, INDEPENDENT SMALL GROCERIES, E-COMMERCE (ONLINE RETAIL)
10.3.1. Overview
10.3.2. Hypermarkets/Supermarkets, Convenience Stores, Discount Stores, Food and Drink Specialty Stores, Independent Small Groceries, E-Commerce (Online Retail) Market Forecast and Analysis
11. VEGAN PASTA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Vegan Pasta Market Overview
11.1.2 North America Vegan Pasta Market Forecasts and Analysis
11.1.3 North America Vegan Pasta Market Forecasts and Analysis - By Product Type
11.1.4 North America Vegan Pasta Market Forecasts and Analysis - By Source
11.1.5 North America Vegan Pasta Market Forecasts and Analysis - By Packaging Type
11.1.6 North America Vegan Pasta Market Forecasts and Analysis - By Distribution Channel
11.1.7 North America Vegan Pasta Market Forecasts and Analysis - By Countries
11.1.7.1 United States Vegan Pasta Market
11.1.7.1.1 United States Vegan Pasta Market by Product Type
11.1.7.1.2 United States Vegan Pasta Market by Source
11.1.7.1.3 United States Vegan Pasta Market by Packaging Type
11.1.7.1.4 United States Vegan Pasta Market by Distribution Channel
11.1.7.2 Canada Vegan Pasta Market
11.1.7.2.1 Canada Vegan Pasta Market by Product Type
11.1.7.2.2 Canada Vegan Pasta Market by Source
11.1.7.2.3 Canada Vegan Pasta Market by Packaging Type
11.1.7.2.4 Canada Vegan Pasta Market by Distribution Channel
11.1.7.3 Mexico Vegan Pasta Market
11.1.7.3.1 Mexico Vegan Pasta Market by Product Type
11.1.7.3.2 Mexico Vegan Pasta Market by Source
11.1.7.3.3 Mexico Vegan Pasta Market by Packaging Type
11.1.7.3.4 Mexico Vegan Pasta Market by Distribution Channel
11.2. EUROPE
11.2.1 Europe Vegan Pasta Market Overview
11.2.2 Europe Vegan Pasta Market Forecasts and Analysis
11.2.3 Europe Vegan Pasta Market Forecasts and Analysis - By Product Type
11.2.4 Europe Vegan Pasta Market Forecasts and Analysis - By Source
11.2.5 Europe Vegan Pasta Market Forecasts and Analysis - By Packaging Type
11.2.6 Europe Vegan Pasta Market Forecasts and Analysis - By Distribution Channel
11.2.7 Europe Vegan Pasta Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Vegan Pasta Market
11.2.7.1.1 Germany Vegan Pasta Market by Product Type
11.2.7.1.2 Germany Vegan Pasta Market by Source
11.2.7.1.3 Germany Vegan Pasta Market by Packaging Type
11.2.7.1.4 Germany Vegan Pasta Market by Distribution Channel
11.2.7.2 France Vegan Pasta Market
11.2.7.2.1 France Vegan Pasta Market by Product Type
11.2.7.2.2 France Vegan Pasta Market by Source
11.2.7.2.3 France Vegan Pasta Market by Packaging Type
11.2.7.2.4 France Vegan Pasta Market by Distribution Channel
11.2.7.3 Italy Vegan Pasta Market
11.2.7.3.1 Italy Vegan Pasta Market by Product Type
11.2.7.3.2 Italy Vegan Pasta Market by Source
11.2.7.3.3 Italy Vegan Pasta Market by Packaging Type
11.2.7.3.4 Italy Vegan Pasta Market by Distribution Channel
11.2.7.4 Spain Vegan Pasta Market
11.2.7.4.1 Spain Vegan Pasta Market by Product Type
11.2.7.4.2 Spain Vegan Pasta Market by Source
11.2.7.4.3 Spain Vegan Pasta Market by Packaging Type
11.2.7.4.4 Spain Vegan Pasta Market by Distribution Channel
11.2.7.5 United Kingdom Vegan Pasta Market
11.2.7.5.1 United Kingdom Vegan Pasta Market by Product Type
11.2.7.5.2 United Kingdom Vegan Pasta Market by Source
11.2.7.5.3 United Kingdom Vegan Pasta Market by Packaging Type
11.2.7.5.4 United Kingdom Vegan Pasta Market by Distribution Channel
11.2.7.6 Russia Vegan Pasta Market
11.2.7.6.1 Russia Vegan Pasta Market by Product Type
11.2.7.6.2 Russia Vegan Pasta Market by Source
11.2.7.6.3 Russia Vegan Pasta Market by Packaging Type
11.2.7.6.4 Russia Vegan Pasta Market by Distribution Channel
11.2.7.7 Rest of Europe Vegan Pasta Market
11.2.7.7.1 Rest of Europe Vegan Pasta Market by Product Type
11.2.7.7.2 Rest of Europe Vegan Pasta Market by Source
11.2.7.7.3 Rest of Europe Vegan Pasta Market by Packaging Type
11.2.7.7.4 Rest of Europe Vegan Pasta Market by Distribution Channel
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Vegan Pasta Market Overview
11.3.2 Asia-Pacific Vegan Pasta Market Forecasts and Analysis
11.3.3 Asia-Pacific Vegan Pasta Market Forecasts and Analysis - By Product Type
11.3.4 Asia-Pacific Vegan Pasta Market Forecasts and Analysis - By Source
11.3.5 Asia-Pacific Vegan Pasta Market Forecasts and Analysis - By Packaging Type
11.3.6 Asia-Pacific Vegan Pasta Market Forecasts and Analysis - By Distribution Channel
11.3.7 Asia-Pacific Vegan Pasta Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Vegan Pasta Market
11.3.7.1.1 Australia Vegan Pasta Market by Product Type
11.3.7.1.2 Australia Vegan Pasta Market by Source
11.3.7.1.3 Australia Vegan Pasta Market by Packaging Type
11.3.7.1.4 Australia Vegan Pasta Market by Distribution Channel
11.3.7.2 China Vegan Pasta Market
11.3.7.2.1 China Vegan Pasta Market by Product Type
11.3.7.2.2 China Vegan Pasta Market by Source
11.3.7.2.3 China Vegan Pasta Market by Packaging Type
11.3.7.2.4 China Vegan Pasta Market by Distribution Channel
11.3.7.3 India Vegan Pasta Market
11.3.7.3.1 India Vegan Pasta Market by Product Type
11.3.7.3.2 India Vegan Pasta Market by Source
11.3.7.3.3 India Vegan Pasta Market by Packaging Type
11.3.7.3.4 India Vegan Pasta Market by Distribution Channel
11.3.7.4 Japan Vegan Pasta Market
11.3.7.4.1 Japan Vegan Pasta Market by Product Type
11.3.7.4.2 Japan Vegan Pasta Market by Source
11.3.7.4.3 Japan Vegan Pasta Market by Packaging Type
11.3.7.4.4 Japan Vegan Pasta Market by Distribution Channel
11.3.7.5 Rest of Asia-Pacific Vegan Pasta Market
11.3.7.5.1 Rest of Asia-Pacific Vegan Pasta Market by Product Type
11.3.7.5.2 Rest of Asia-Pacific Vegan Pasta Market by Source
11.3.7.5.3 Rest of Asia-Pacific Vegan Pasta Market by Packaging Type
11.3.7.5.4 Rest of Asia-Pacific Vegan Pasta Market by Distribution Channel
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Vegan Pasta Market Overview
11.4.2 Middle East and Africa Vegan Pasta Market Forecasts and Analysis
11.4.3 Middle East and Africa Vegan Pasta Market Forecasts and Analysis - By Product Type
11.4.4 Middle East and Africa Vegan Pasta Market Forecasts and Analysis - By Source
11.4.5 Middle East and Africa Vegan Pasta Market Forecasts and Analysis - By Packaging Type
11.4.6 Middle East and Africa Vegan Pasta Market Forecasts and Analysis - By Distribution Channel
11.4.7 Middle East and Africa Vegan Pasta Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Vegan Pasta Market
11.4.7.1.1 South Africa Vegan Pasta Market by Product Type
11.4.7.1.2 South Africa Vegan Pasta Market by Source
11.4.7.1.3 South Africa Vegan Pasta Market by Packaging Type
11.4.7.1.4 South Africa Vegan Pasta Market by Distribution Channel
11.4.7.2 U.A.E Vegan Pasta Market
11.4.7.2.1 U.A.E Vegan Pasta Market by Product Type
11.4.7.2.2 U.A.E Vegan Pasta Market by Source
11.4.7.2.3 U.A.E Vegan Pasta Market by Packaging Type
11.4.7.2.4 U.A.E Vegan Pasta Market by Distribution Channel
11.4.7.3 Iran Vegan Pasta Market
11.4.7.3.1 Iran Vegan Pasta Market by Product Type
11.4.7.3.2 Iran Vegan Pasta Market by Source
11.4.7.3.3 Iran Vegan Pasta Market by Packaging Type
11.4.7.3.4 Iran Vegan Pasta Market by Distribution Channel
11.4.7.4 Rest of Middle East and Africa Vegan Pasta Market
11.4.7.4.1 Rest of Middle East and Africa Vegan Pasta Market by Product Type
11.4.7.4.2 Rest of Middle East and Africa Vegan Pasta Market by Source
11.4.7.4.3 Rest of Middle East and Africa Vegan Pasta Market by Packaging Type
11.4.7.4.4 Rest of Middle East and Africa Vegan Pasta Market by Distribution Channel
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Vegan Pasta Market Overview
11.5.2 South and Central America Vegan Pasta Market Forecasts and Analysis
11.5.3 South and Central America Vegan Pasta Market Forecasts and Analysis - By Product Type
11.5.4 South and Central America Vegan Pasta Market Forecasts and Analysis - By Source
11.5.5 South and Central America Vegan Pasta Market Forecasts and Analysis - By Packaging Type
11.5.6 South and Central America Vegan Pasta Market Forecasts and Analysis - By Distribution Channel
11.5.7 South and Central America Vegan Pasta Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Vegan Pasta Market
11.5.7.1.1 Brazil Vegan Pasta Market by Product Type
11.5.7.1.2 Brazil Vegan Pasta Market by Source
11.5.7.1.3 Brazil Vegan Pasta Market by Packaging Type
11.5.7.1.4 Brazil Vegan Pasta Market by Distribution Channel
11.5.7.2 Argentina Vegan Pasta Market
11.5.7.2.1 Argentina Vegan Pasta Market by Product Type
11.5.7.2.2 Argentina Vegan Pasta Market by Source
11.5.7.2.3 Argentina Vegan Pasta Market by Packaging Type
11.5.7.2.4 Argentina Vegan Pasta Market by Distribution Channel
11.5.7.3 Rest of South and Central America Vegan Pasta Market
11.5.7.3.1 Rest of South and Central America Vegan Pasta Market by Product Type
11.5.7.3.2 Rest of South and Central America Vegan Pasta Market by Source
11.5.7.3.3 Rest of South and Central America Vegan Pasta Market by Packaging Type
11.5.7.3.4 Rest of South and Central America Vegan Pasta Market by Distribution Channel
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. VEGAN PASTA MARKET, KEY COMPANY PROFILES
13.1. BARILLA GROUP
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. EBRO FOODS, INC.
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. TREEHOUSE FOODS INC.
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. DAKOTA GROWERS PASTA COMPANY
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. DE CECCO COMPANY
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. NESTLé S.A.
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. DELVERDE INDUSTRIE
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. ALIMENTARI S.P.A.
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. RFM CORPORATION
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. GRUPO LA MODERNA
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
13.11. GENERAL MILLS, INC.
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Barilla Group
2. Ebro Foods, Inc.
3. TreeHouse Foods Inc.
4. Dakota Growers Pasta Company
5. De Cecco Company
6. Nestlé S.A.
7. Delverde Industrie
8. Alimentari S.p.a.
9. RFM Corporation
10. Grupo La Moderna
11. General Mills, Inc.
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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