Biofertilizers Market

Global Biofertilizers Market Size by Product (Nitrogen fixing, Phosphate solubilizing, Others), Application (Soil treatment, Seed treatment), Crop Type, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12641
  • Published Date: Jan, 2022
  • Pages: 233
  • Category: Agriculture
  • Format: PDF
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Global Biofertilizers marketis expected to reach USD 4.71 Billion by 2030, at a CAGR of 13%from 2021 to 2030.The market is being driven by an increase in organic farming practices, the need to improve soil organic matter, and a favorable regulatory structure. In addition, the agriculture sector is likely to see increased usage of biofertilizers because of the introduction of integrated pest control programs that promote the use of biofertilizers.

Market Overview:

Chemical fertilizers have helped farmers raise crop yield to meet rising demand throughout the years. Overuse of these fertilizers, on the other hand, is hazardous since it pollutes the air and water and depletes the soil's nutrients. As a result, it is now necessary to transition to organic farming, which includes the use of 'Biofertilizers.' Biofertilizers are substances that contain the living or latent cells of microorganisms. By colonizing the rhizosphere of the plant, biofertilizers boost the nutrients of host plants whether applied to their seeds, plant surface, or soil. When compared to chemical fertilizers, biofertilizers are more cost-effective.Biofertilizers are microbe-containing substances that aid in the promotion of plant and tree growth by enhancing the delivery of necessary nutrients to the plants. Mycorrhizal fungi, blue-green algae, and bacteria are among the living organisms found in it. Mycorrhizal fungi prefer to extract minerals from organic matter for the plant, whereas cyanobacteria are known for their ability to fix nitrogen.Biofertilizers supply nutrients to plants through natural processes such as nitrogen fixation, phosphorus solubilization, and the synthesis of growth-promoting substances. Biofertilizers contain microorganisms that restore the soil's natural nutrient cycle and increase soil organic matter. Healthy plants can be developed with the application of biofertilizers while also improving the soil's sustainability and health.

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Market Dynamics:

Drivers:
  • Increasing Organic Farm Land

Organic product demand is rising, due to improved incomes and better farming practices that boost organic yields. As a result of the growing demand for organic food around the world, the amount of land dedicated to organic farming has expanded. According to FiBL data, the area under organic farming in the world expanded from 58, 090.5 thousand hectares in 2016 to 72,285.6 thousand hectares in 2019. Increased organic agricultural practices resulted in better soil fertility, as well as widespread use of organic products such as biofertilizers. This has spurred an increase in demand for biofertilizers, which are organic and aid in maintaining ecological balance.

Restraints:

  • Lack of proper training

There are a few constraints and problems that could impede market expansion. Market limitations are anticipated to include factors such as expensive fertiliser production costs and a lack of proper organic farming training.

Opportunities:
  • Increasing global population

Synthetic fertilizer prices are growing. Consumers' responses to increased prices for synthetically produced food products are expected to remain an important factor in increasing biofertilizer demand in the future years. With the world's population continually increasing, food shortage is a major concern for governments all over the world. This has resulted in product development in the bio-based fertilizer sector as well as promotion of environmentally friendly agriculture solutions to the world's major agrarian economies. Over the forecast period, this is expected to increase demand for biofertilizers in all agricultural economies.

Challenges:
  • COVID-19 impact

There has been a supply chain disruption because of the COVID-19 pandemic, causing problems in the agricultural sector such as labour shortages, transportation barriers, market access restrictions, and a lack of inventories in some regions, thus challenging the growth of the biofertilizers market.

Segmentation Analysis:

The global biofertilizers market has been segmented based onproduct, application, crop type and regions.

  • The product segment is divided intonitrogen fixing, phosphate solubilizing, others. The nitrogen fixingbiofertilizers segment dominated the market with a market share of around 55.4% in 2020.This high percentage is due to the global correction of heavily contaminated water and soil reserves caused by decades of synthetic fertilizer use. Plant growth necessitates a high phosphorus content in the soil, as well as the presence of fixed nitrogen and numerous other important minerals, all of which are met by using biobased fertilizers. Also, depending on the crop and soil type, the application of various biofertilizers promotes healthy plant development without causing harm to human health or the environment.
  • The applicationsegment is divided intosoil treatment, seed treatment. The seed treatmentsegment led the market with a market share of 66.2% in 2020.The advantages of induced nutritional values in the seeds are a primary driving force. Over the last few years, the use of synthetic fertilizers and a variety of other crop care chemicals likeinsecticidesand pesticides has resulted in a significant deterioration in soil quality throughout all major agrarian countries. But several governments have imposed agricultural sector regulations across all developed and developingeconomies, considering the environmental risks associated with the overuse of chemical products in farming, which is expected to reflect a growth trend for biofertilizers in different seed and soil applications all around world.
  • The crop type segment is divided intocereals & grains, fruits & vegetables, oilseeds & pulses, others.The cereals & grainssegment led the market with a market share of 60.1% in 2020.For proper development, cereals and grains require a significant amount of biofertilizer. Studies conducted around the world revealed that Azotobacter inoculation resulted in increased development and growth in cereal and grain crops, reducing nitrogen requirements. Furthermore, phosphate solubilizing bacteria and Azoteobacter inoculation showed to be highly effective biofertilizers in terms of crop yield for the healthy development of wheat. When these are used for cereal and grain production, they produce a lot of vegetation and a lot of photosynthesis.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.North region emerged as the largest market for the global Biofertilizers market with a 32.2%share of the market revenue in 2020.

  • According to The World of Organic Agriculture, organic farming accounted for roughly 0.8 percent of total agricultural land in North America in 2017, with that figure predicted to rise to around 5% by the end of 2020. Government intervention in farming operations in the region has resulted in significant changes in agricultural patterns and procedures across the United States and Canada. Over 19,017 farming villages in the region practice organic farming to ensure long-term viability, owing to stringent rules.
  • Over the forecast period, the Asia Pacific region is predicted to grow at the highest CAGR. The Asia Pacific region serves as a hub for the majority of agrarian economies, including India, Thailand, Japan, Malaysia, South Korea, the Philippines, and others, as they move to more sustainable agriculture.

North America Region Biofertilizers Market Share in 2020 - 32.2%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global Biofertilizers industry.

Givaudan and Novozymes announced a research partnership in January 2020 to develop synergistic novel ingredients and technologies for customers. The two companies will collaborate on the research and development of innovative sustainable biofertilizer solutions.

List of Key Market Players:

  • AgriLife
  • CBF China Biofertilizers
  • Fertilizers USA LLC
  • Lallemand Inc.
  • Novozymes A/S
  • Symborg SL

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Biofertilizers market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global Biofertilizers market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Biofertilizers market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of Biofertilizers based on offering, deployment mode, application area, and regions. which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Biofertilizers market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global Biofertilizers market and a comparative assessment based on their product, crop type, application, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global Biofertilizers market) is covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the biofertilizers market was valued at USD 1.4 Billion in 2020 to USD 4.71 Billion by 2030.

Global Biofertilizers market is growing at a CAGR of 13% during the forecast period 2021-2030.

The global biofertilizers market has been segmented based on product, application, crop type and regions. The nitrogen fixing biofertilizers segment led the market in 2020.The seed treatment segment led the market in 2020.

North America region emerged as the largest market for the Biofertilizers.

The market's growth will be influenced by the increasing organic farm land.

Lack of proper training could hamper the market growth.

Increasing global population will provide huge opportunities to the market.

Key players areAgriLife, CBF China Biofertilizers, Fertilizers USA LLC, Lallemand Inc., Novozymes A/S and Symborg SL.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis ByProduct
          4.3.2. Market Attractiveness Analysis ByCrop Type
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing organic farm land
    5.3. Restraints
          5.3.1. Lack of proper training
    5.4. Opportunities
          5.4.1. Increasing global population
    5.5. Challenges
          5.5.1. COVID-19 impact

6. Global Biofertilizers Market Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Nitrogen fixing
    6.3. Phosphate solubilizing
    6.4. Others

7. Global Biofertilizers Market Analysis and Forecast, By Crop Type
    7.1. Segment Overview
    7.2. Cereals & Grains
    7.3. Fruits & Vegetables
    7.4. Oilseeds & Pulses
    7.5. Others

8. Global Biofertilizers Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Soil treatment
    8.3. Seed treatment

9. Global Biofertilizers MarketAnalysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Biofertilizers Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Biofertilizers Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. AgriLife
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. CBF China Biofertilizers
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Fertilizers USA LLC
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Lallemand Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Novozymes A/S
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Symborg SL
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis

List of Table

1. Global Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

2. Global Nitrogen fixingBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

3. Global Phosphate solubilizingBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

4. Global OthersMarket, By Region, 2018-2030 (USD Billion) 

5. Global Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

6. Global Cereals & GrainsBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

7. Global Fruits & VegetablesBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

8. Global Oilseeds & PulsesBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

9. Global Others FoodBiofertilizersMarket, By Region, 2018-2030 (USD Billion) 

10. Global Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

11. Global Soil treatmentBiofertilizers Market, By Region, 2018-2030 (USD Billion) 

12. Global Seed treatmentBiofertilizers Market, By Region, 2018-2030 (USD Billion) 

13. Global Biofertilizers Market, By Region, 2018-2030 (USD Billion) 

14. North America Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

15. North America Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

16. North America Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

17. U.S. Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

18. U.S. Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

19. U.S. Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

20. Canada Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

21. Canada Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

22. Canada Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

23. Mexico Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

24. Mexico Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

25. Mexico Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

26. Europe Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

27. Europe Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

28. Europe Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

29. Germany Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

30. Germany Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

31. Germany Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

32. France Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

33. France Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

34. France Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

35. U.K. Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

36. U.K. Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

37. U.K. Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

38. Italy Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

39. Italy Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

40. Italy Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

41. Spain Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

42. Spain Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

43. Spain Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

44. Asia Pacific Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

45. Asia Pacific Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

46. Asia Pacific Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

47. Japan Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

48. Japan Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

49. Japan Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

50. China Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

51. China Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

52. China Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

53. India Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

54. India Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

55. India Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

56. South America Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

57. South America Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

58. South America Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

59. Brazil Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

60. Brazil Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

61. Brazil Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

62. Middle East and Africa Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

63. Middle East and Africa Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

64. Middle East and Africa Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

65. UAE Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

66. UAE Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

67. UAE Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

68. South Africa Biofertilizers Market, By Product, 2018-2030 (USD Billion) 

69. South Africa Biofertilizers Market, By Crop Type, 2018-2030 (USD Billion) 

70. South Africa Biofertilizers Market, By Application, 2018-2030 (USD Billion) 

List of Figures 

1. Global Biofertilizers Market Segmentation

2. Biofertilizers Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Biofertilizers Market Attractiveness Analysis ByProduct

9. Global Biofertilizers Market Attractiveness Analysis ByCrop Type

10. Global Biofertilizers Market Attractiveness Analysis By Application

11. Global Biofertilizers Market Attractiveness Analysis By Region

12. Global Biofertilizers Market: Dynamics

13. Global Biofertilizers Market Share by Product (2020 & 2030)

14. Global Biofertilizers Market Share by Crop Type (2020 & 2030)

15. Global Biofertilizers Market Share by Application (2020 & 2030)

16. Global Biofertilizers Market Share by Regions (2020 & 2030)

17. Global Biofertilizers Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global biofertilizersmarket based on below mentioned segments:

Global Biofertilizers Market by Product:

  • Nitrogen fixing
  • Phosphate solubilizing
  • Others

Global Biofertilizers Market by Application:

  • Soil treatment
  • Seed treatment

Global Biofertilizers Market by Crop Type:

  • Cereals & Grains
  • Fruits & Vegetables
  • Oilseeds & Pulses
  • Others

Global Biofertilizers Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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