Vitamin B3 Market Strategies and Share 2031
The Vitamin B3 Market is expected to register a CAGR of 5% 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 (natural, synthetic). The report further presents analysis based on application (food and beverages, pharmaceutical and nutraceutical, animal feed, and personal care). 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 ReportThe report Vitamin B3 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.
Vitamin B3 Market Segmentation
Source- Natural
- Synthetic
- Food and Beverages
- Pharmaceutical and Nutraceutical
- Animal Feed
- Personal Care
Strategic Insights
Vitamin B3 Market Growth Drivers- Rising Awareness of Vitamin B3’s Health Benefits Boosts Supplement Demand: With growing consumer awareness regarding the health benefits of vitamin B3 with regard to cholesterol improvement and the support of cardiovascular health, demand for supplements and fortified foods containing vitamin B3 has risen.
- Growing Awareness of Vitamin B3 Deficiency Drives Supplement Consumption: This is probably another main reason why vitamin B3 deficiency is running high in several populations. Growing awareness of nutritional deficiencies promotes the demand for vitamin B3 supplements to prevent ill health associated with such deficiencies.
- Increased Disposable Income Drives Demand for Nutrient-Enriched Food & Beverages: Increased disposable income improved living standards, consumers are highly inclined towards nutrient enriched food and beverages. Economic prosperity of consumers allows for increased spending on specialty products; therefore, food and beverage industry are significantly launching products enriched with vitamins and minerals.
- Rising Consumer Preference for Natural Vitamin B3 Drives Market Demand: The consumption of natural and organic products has boosted the interest in vitamin B3 that is derived from natural, rather than synthetic, sources. As consumers continue to seek products supporting a clean-label movement and associated environment-conscious consumers, manufacturers are focusing on vitamin B3-based production from more natural ingredients.
- Health and Wellness Trend Fuels Growing Interest in Vitamin B3 Supplements: An increased trend towards health and wellness, that is more interest will be expressed towards dietary supplements that contain vitamin B3. As clients seek more preventive health measures and look to upgrade their overall well-being, the demand for vitamin B3 supplements in the market is going to increase.
- Tighter Regulations Expected as Vitamin B3 Demand Continues to Increase: The regulatory agencies will most likely tighten up their requirements in the future as demand for vitamin B3 will continue to rise. This will mean how the vitamin B3 products are formulated, marketed, and sold. In general, companies that will take the changes and requirements will find it easier to compete in markets.
- Vitamin B3 Drives Growth in the Animal Feed Industry: Vitamin B3 has enormous applications in the animal feed industry. Increasing intake of meat and milk globally has further accelerated the development of healthy animal feed. The high rate of micronutrient deficiency disorders among animals boosts the demand for vitamin enriched feed. Thus, rising demand from animal feed industry is one of the major contributing to the market expansion.
- Rising Meat and Dairy Consumption Boosts Demand for Vitamin B3 in Feed Fortification: Overall demand for the feed fortification process is fueled by growing consumption of meat and dairy products worldwide. Feed fortification most often involves vitamin B3. Increasingly, as livestock producers strive to improve animal feed nutritional quality, adding vitamin B3 has become more common and increased overall demand for the vitamin.
- Growth of Dietary Supplement Market Fuels Vitamin B3 Demand: Moreover, an overall rise in the dietary supplement market is another reason for growth demand in vitamin B3. Consumers are increasingly using supplements to bridge nutritional gaps in their diets; therefore, vitamin B3 remains one of the most popular supplements nowadays due to its various health benefits. Such developments are likely to continue with the growth of the global dietary supplement market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vitamin B3 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 Vitamin B3 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 Vitamin B3 Market is estimated to witness a CAGR of 5% from 2023 to 2031
The rising demand for nutritional enriched food and beverages and strategic development initiatives by key market players is driving the vitamin B3 market growth.
The rising consumers’ inclination towards natural and organic products is likely to remain the key trends in the market.
Koninklijke DSM NV, BASF SE, Foodchem International Corporation, Honson Pharmatech Group, Xiamen Kingdomway Group Company, ADM, Glanbia plc, Western drugs ltd, VANETTA LTD., SUPREME PHARMATECH CO., LTD. are among the leading players operating in the vitamin B3 market.
Based on geography, North America held the largest share of the vitamin B3 market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vitamin B3 Market - By Grade
1.3.2 Vitamin B3 Market - By Source
1.3.3 Vitamin B3 Market - By Application
1.3.4 Vitamin B3 Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VITAMIN B3 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. VITAMIN B3 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. VITAMIN B3 MARKET - GLOBAL MARKET ANALYSIS
6.1. VITAMIN B3 - GLOBAL MARKET OVERVIEW
6.2. VITAMIN B3 - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VITAMIN B3 MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1. OVERVIEW
7.2. GRADE MARKET FORECASTS AND ANALYSIS
7.3. FOOD GRADE
7.3.1. Overview
7.3.2. Food Grade Market Forecast and Analysis
7.4. FEED GRADE
7.4.1. Overview
7.4.2. Feed Grade Market Forecast and Analysis
7.5. PHARMACEUTICALS GRADE
7.5.1. Overview
7.5.2. Pharmaceuticals Grade Market Forecast and Analysis
8. VITAMIN B3 MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
8.1. OVERVIEW
8.2. SOURCE MARKET FORECASTS AND ANALYSIS
8.3. NATURAL
8.3.1. Overview
8.3.2. Natural Market Forecast and Analysis
8.4. SYNTHETIC
8.4.1. Overview
8.4.2. Synthetic Market Forecast and Analysis
9. VITAMIN B3 MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. FOOD AND BEVERAGES
9.3.1. Overview
9.3.2. Food and Beverages Market Forecast and Analysis
9.4. ANIMAL FEED
9.4.1. Overview
9.4.2. Animal Feed Market Forecast and Analysis
9.5. PHARMACEUTICALS AND NUTRACEUTICALS
9.5.1. Overview
9.5.2. Pharmaceuticals and Nutraceuticals Market Forecast and Analysis
9.6. PERSONAL CARE
9.6.1. Overview
9.6.2. Personal Care Market Forecast and Analysis
10. VITAMIN B3 MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Vitamin B3 Market Overview
10.1.2 North America Vitamin B3 Market Forecasts and Analysis
10.1.3 North America Vitamin B3 Market Forecasts and Analysis - By Grade
10.1.4 North America Vitamin B3 Market Forecasts and Analysis - By Source
10.1.5 North America Vitamin B3 Market Forecasts and Analysis - By Application
10.1.6 North America Vitamin B3 Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Vitamin B3 Market
10.1.6.1.1 Canada Vitamin B3 Market by Grade
10.1.6.1.2 Canada Vitamin B3 Market by Source
10.1.6.1.3 Canada Vitamin B3 Market by Application
10.1.6.2 Mexico Vitamin B3 Market
10.1.6.2.1 Mexico Vitamin B3 Market by Grade
10.1.6.2.2 Mexico Vitamin B3 Market by Source
10.1.6.2.3 Mexico Vitamin B3 Market by Application
10.1.6.3 US Vitamin B3 Market
10.1.6.3.1 US Vitamin B3 Market by Grade
10.1.6.3.2 US Vitamin B3 Market by Source
10.1.6.3.3 US Vitamin B3 Market by Application
10.2. EUROPE
10.2.1 Europe Vitamin B3 Market Overview
10.2.2 Europe Vitamin B3 Market Forecasts and Analysis
10.2.3 Europe Vitamin B3 Market Forecasts and Analysis - By Grade
10.2.4 Europe Vitamin B3 Market Forecasts and Analysis - By Source
10.2.5 Europe Vitamin B3 Market Forecasts and Analysis - By Application
10.2.6 Europe Vitamin B3 Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Vitamin B3 Market
10.2.6.1.1 Germany Vitamin B3 Market by Grade
10.2.6.1.2 Germany Vitamin B3 Market by Source
10.2.6.1.3 Germany Vitamin B3 Market by Application
10.2.6.2 France Vitamin B3 Market
10.2.6.2.1 France Vitamin B3 Market by Grade
10.2.6.2.2 France Vitamin B3 Market by Source
10.2.6.2.3 France Vitamin B3 Market by Application
10.2.6.3 Italy Vitamin B3 Market
10.2.6.3.1 Italy Vitamin B3 Market by Grade
10.2.6.3.2 Italy Vitamin B3 Market by Source
10.2.6.3.3 Italy Vitamin B3 Market by Application
10.2.6.4 United Kingdom Vitamin B3 Market
10.2.6.4.1 United Kingdom Vitamin B3 Market by Grade
10.2.6.4.2 United Kingdom Vitamin B3 Market by Source
10.2.6.4.3 United Kingdom Vitamin B3 Market by Application
10.2.6.5 Russia Vitamin B3 Market
10.2.6.5.1 Russia Vitamin B3 Market by Grade
10.2.6.5.2 Russia Vitamin B3 Market by Source
10.2.6.5.3 Russia Vitamin B3 Market by Application
10.2.6.6 Rest of Europe Vitamin B3 Market
10.2.6.6.1 Rest of Europe Vitamin B3 Market by Grade
10.2.6.6.2 Rest of Europe Vitamin B3 Market by Source
10.2.6.6.3 Rest of Europe Vitamin B3 Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Vitamin B3 Market Overview
10.3.2 Asia-Pacific Vitamin B3 Market Forecasts and Analysis
10.3.3 Asia-Pacific Vitamin B3 Market Forecasts and Analysis - By Grade
10.3.4 Asia-Pacific Vitamin B3 Market Forecasts and Analysis - By Source
10.3.5 Asia-Pacific Vitamin B3 Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Vitamin B3 Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Vitamin B3 Market
10.3.6.1.1 Australia Vitamin B3 Market by Grade
10.3.6.1.2 Australia Vitamin B3 Market by Source
10.3.6.1.3 Australia Vitamin B3 Market by Application
10.3.6.2 China Vitamin B3 Market
10.3.6.2.1 China Vitamin B3 Market by Grade
10.3.6.2.2 China Vitamin B3 Market by Source
10.3.6.2.3 China Vitamin B3 Market by Application
10.3.6.3 India Vitamin B3 Market
10.3.6.3.1 India Vitamin B3 Market by Grade
10.3.6.3.2 India Vitamin B3 Market by Source
10.3.6.3.3 India Vitamin B3 Market by Application
10.3.6.4 Japan Vitamin B3 Market
10.3.6.4.1 Japan Vitamin B3 Market by Grade
10.3.6.4.2 Japan Vitamin B3 Market by Source
10.3.6.4.3 Japan Vitamin B3 Market by Application
10.3.6.5 South Korea Vitamin B3 Market
10.3.6.5.1 South Korea Vitamin B3 Market by Grade
10.3.6.5.2 South Korea Vitamin B3 Market by Source
10.3.6.5.3 South Korea Vitamin B3 Market by Application
10.3.6.6 Rest of Asia-Pacific Vitamin B3 Market
10.3.6.6.1 Rest of Asia-Pacific Vitamin B3 Market by Grade
10.3.6.6.2 Rest of Asia-Pacific Vitamin B3 Market by Source
10.3.6.6.3 Rest of Asia-Pacific Vitamin B3 Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Vitamin B3 Market Overview
10.4.2 Middle East and Africa Vitamin B3 Market Forecasts and Analysis
10.4.3 Middle East and Africa Vitamin B3 Market Forecasts and Analysis - By Grade
10.4.4 Middle East and Africa Vitamin B3 Market Forecasts and Analysis - By Source
10.4.5 Middle East and Africa Vitamin B3 Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Vitamin B3 Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Vitamin B3 Market
10.4.6.1.1 South Africa Vitamin B3 Market by Grade
10.4.6.1.2 South Africa Vitamin B3 Market by Source
10.4.6.1.3 South Africa Vitamin B3 Market by Application
10.4.6.2 Saudi Arabia Vitamin B3 Market
10.4.6.2.1 Saudi Arabia Vitamin B3 Market by Grade
10.4.6.2.2 Saudi Arabia Vitamin B3 Market by Source
10.4.6.2.3 Saudi Arabia Vitamin B3 Market by Application
10.4.6.3 U.A.E Vitamin B3 Market
10.4.6.3.1 U.A.E Vitamin B3 Market by Grade
10.4.6.3.2 U.A.E Vitamin B3 Market by Source
10.4.6.3.3 U.A.E Vitamin B3 Market by Application
10.4.6.4 Rest of Middle East and Africa Vitamin B3 Market
10.4.6.4.1 Rest of Middle East and Africa Vitamin B3 Market by Grade
10.4.6.4.2 Rest of Middle East and Africa Vitamin B3 Market by Source
10.4.6.4.3 Rest of Middle East and Africa Vitamin B3 Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Vitamin B3 Market Overview
10.5.2 South and Central America Vitamin B3 Market Forecasts and Analysis
10.5.3 South and Central America Vitamin B3 Market Forecasts and Analysis - By Grade
10.5.4 South and Central America Vitamin B3 Market Forecasts and Analysis - By Source
10.5.5 South and Central America Vitamin B3 Market Forecasts and Analysis - By Application
10.5.6 South and Central America Vitamin B3 Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Vitamin B3 Market
10.5.6.1.1 Brazil Vitamin B3 Market by Grade
10.5.6.1.2 Brazil Vitamin B3 Market by Source
10.5.6.1.3 Brazil Vitamin B3 Market by Application
10.5.6.2 Argentina Vitamin B3 Market
10.5.6.2.1 Argentina Vitamin B3 Market by Grade
10.5.6.2.2 Argentina Vitamin B3 Market by Source
10.5.6.2.3 Argentina Vitamin B3 Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. VITAMIN B3 MARKET, KEY COMPANY PROFILES
12.1. LONZA GROUP AG
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. SHANDONG HONGDA BIOTECHNOLOGY CO., LTD.
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. JUBILANT LIFE SCIENCES LTD
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. VERTELLUS
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. JIANGSU BROTHER VITAMIN CO. LTD
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. DSM
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. VANETTA
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. LASONS INDIA
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. ZHEJIANG LANBO BIOTECHNOLOGY
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. TIANJIN ZHONGRUI PHARMACEUTICAL
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
1. Lonza Group AG
2. Shandong Hongda Biotechnology Co., Ltd.
3. Jubilant Life Sciences Ltd
4. Vertellus
5. Jiangsu Brother Vitamin Co. Ltd
6. DSM
7. Vanetta
8. Lasons India
9. Zhejiang Lanbo Biotechnology
10. Tianjin Zhongrui Pharmaceutical
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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