Dairy Testing Market

Dairy Testing Market Size by testing Type (Safety Testing, Quality Testing), Product Type (Milk & Milk Products, Cheese, Butter & Spreads, Infant Food, Ice Cream & Desserts, Yogurt and others), Technology, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12671
  • Published Date: Mar, 2022
  • Pages: 235
  • Category: Agriculture
  • Format: PDF
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Global dairy testing market is expected to reach USD 10.5 billion by 2030, at a CAGR of 7.9% from 2022 to 2030. Dairy testing market growth would be driven by rising instances of diseases due to consumption of food contaminated by pathogens, bacteria, rodents, insects and other animal vectors.  Unhygienic surroundings, poor handling of products during packaging and distribution, faulty equipment etc. also expose food to contamination.

Market Overview:

The Covid-19 pandemic has highlighted the importance of sanitation as the one of the most effective practices which can save individuals from mild to severe diseases of every kind. Following protocols like wearing a mask, sanitizing one’s hands and surroundings frequently can prevent the spread of diseases or downscale its impact by restricting it. Similarly, everyone’s daily habits have been more vigilant regarding the safety and hygiene of the food that is consumed daily due to Covid-19. Dairy is amongst the products which is consumed in every household in the form of milk and its derivatives. Ensuring that the dairy consumed by consumers is free from pathogens, foreign impure material, harmful chemicals, dust or any other unwanted substances is important, dairy testing is a process which ensures this. This testing ensures that the highest standards of quality and safety are maintained. Safe dairy reduces the occurrence of diseases and its effects on the health of the consumers in the short as well as the long run. Dairy testing is done by a variety of methods and is an established market in Europe due to stringent guidelines about safety and quality of dairy products in that region. The lack of infrastructure and regulations are the reasons for its low uptick in the Asian region.

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Market Dynamics:

Drivers:
  • Increase in the instances of food borne diseases

Dairy products are consumed in every household, especially by children, which exposes them to a wide variety of diseases that can happen due to the consumption of contaminated dairy and dairy products. The CDC of the US has said that out of every 10 children, 1 is infected due to such contaminated products. Close to 100000 children die because of this. With these concerns about food safety, increased awareness about adulteration, quality standards, government guidelines have led to market players adopting dairy testing to retain customer base and stay in the market. Advancement in technologies with sophisticated processes to test products has also increased the adoption of these methods.

Restraints:
  • Lack of uniform guidelines and infrastructure

The infrastructure and guidelines are only established in the developed world like the European countries. Despite Asia being a huge market for dairy and dairy products, there is poor infrastructure when it comes to dairy testing.  Packaged dairy and dairy products are only limited to urban clusters and there are no guidelines ensuring safety and quality of products.

Opportunities:
  • Technological advancements in testing equipment

The various methods that are utilized to test products are evolving with new equipment being introduced in the market. The testing market is dominated by major players with capital, leading to the exclusion of smaller players. However, with constant innovations the new equipment is now comprehensive, reliable, simplified, accurate, cost effective with decreased turnaround time.

Challenges:
  • No uniform regulations and guidelines

Every nation has its own safety and quality standards, which are implemented and kept-in-check by applying various methods and guidelines. The world is a global village and with trade and supply chains becoming resilient and seamless with time, the mismatch and duplication of guidelines to be followed has resulted in increased costs and waste of time. A uniform code adopted and ratified by all the countries will make the process of testing, compliance, audit and delivery of products cost-efficient.

Segmentation Analysis:

The global dairy testing market has been segmented based on testing type, product type, technology and regions.

  • The testing type segment is divided into quality testing and safety testing. The safety testing segment dominated the market with a market share of around 75% in 2021. In the present scenario, ensuring safety of products is the prime focus of market players and governments around the world. This is aimed at reducing deaths which are a result of consuming unsafe food.
  • The product type segment is divided into milk and milk powder, cheese, butter & spreads, infant food, ice cream & desserts, yogurt and others. Over the forecast period, the milk & milk powder segment is expected to grow at the fastest CAGR of 8.3%. Milk is consumed the most and is the foundation for other derivatives. It has a long shelf life, but can be contaminated due to poor packaging, improper handling, faulty equipment and hence the need to test it to ensure safety and security becomes important as it can be transferred to its derivatives and reach the end users in contaminated form.
  • The technology segment is divided into traditional and rapid. During the forecast period of 2022-2030, the rapid technology segment is going to dominate the market and may as well replace the traditional technology segment completely. Rapid technologies are newer, faster, accurate, reliable, cost effective with a low turnaround time compared to traditional technology.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Europe region emerged as the largest market for the global dairy testing market with a 29.6% share of the market revenue in 2021.

  • Europe currently dominates the dairy testing market due to stringent food safety standards of the regulatory authorities in the European countries and their effective implementation, while North America is expected to rise in the forecast period due to the increased consumption of dairy and hence the need to develop the testing infrastructure will provide the necessary investment for the market.

Europe region Dairy Testing Market Share in 2021 - 29.6%

 

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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 dairy testing industry.

AET is a company which has its expertise in laboratory testing aimed at sustainable testing along with its own R&D services which facilitate product development. AET was acquired by Bureau Veritas with the goal of expanding globally and diversifying its client portfolio.

List of Key Market Players:

  • SGS
  • Intertek
  • ALS Limited
  • Bureau Veritas
  • Romer Labs
  • Neogen Corporation
  • AsureQuality
  • Microbac Laboratories
  • Eurofins

Key Target Audience

  • Restaurant chains
  • Dairy Product (Ice-cream, cheese etc.) Manufacturers
  • Milk cooperatives
  • Government authorities
  • Consulting And Research Firm
  • Laboratories
  • Value-Added Resellers (VARs)

Report Description:

  • Global dairy testing Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global dairy testing 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 dairy testing 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 dairy testing based on testing type, product type, technology 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 dairy testing 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 dairy testing market and a comparative assessment based on their product offering, 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 dairy testing 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 Dairy Testing market was valued at USD 5.3 Billion in 2021 to USD 10.5 Billion by 2030.

Global Dairy Testing market is growing at a CAGR of 7.9% during the forecast period 2022-2030.

The global Dairy Testing market has been segmented based on testing type, product type, technology and regions. The safety testing segment led the market in 2021. The milk & milk powder segment led the market in 2020.

Europe region emerged as the largest market for the Dairy Testing.

The market's growth will be influenced by the increase in the instances of food borne diseases.

Lack of uniform guidelines and infrastructure could hamper the market growth.

Technological advancements in testing equipment in Dairy Testing will provide huge opportunities to the market.

Key players are SGS, Intertek, ALS Limited, Bureau Veritas, Romer Labs, Neogen Corporation, AsureQuality, Microbac Labrotaries and Eurofins.

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 By Testing Type
          4.3.2. Market Attractiveness Analysis By Product Type
          4.3.3. Market Attractiveness Analysis By Technology
          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. Increase in instances of food borne diseases
    5.3. Restraints
          5.3.1. Lack of uniform guidelines and infrastructure
    5.4. Opportunities
          5.4.1. Technological advancements in testing equipment
    5.5. Challenges
          5.5.1. No uniform regulations and guidelines

6. Global Dairy Testing Market Analysis and Forecast, By Testing Type
    6.1. Segment Overview
    6.2. Quality Testing
    6.3. Safety Testing

7. Global Dairy Testing Market Analysis and Forecast, By Product Type
    7.1. Segment Overview
    7.2. Milk And Milk Powder
    7.3. Cheese
    7.4. Butter & Spreads
    7.5. Infant Food
    7.6. Ice Cream & Desserts
    7.7. Yogurt
    7.8. Others

8. Global Dairy Testing Market Analysis and Forecast, By Technology
    8.1. Segment Overview
    8.2. Traditional technology
    8.3. Rapid technology

9. Global Dairy Testing Market Analysis 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 Dairy Testing Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Dairy Testing 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. SGS
          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. Intertek
          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. ALS Limited
          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. Bureau Veritas
          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. Romer Labs
          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. Neogen Corporation
          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
    11.7. AsureQuality
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Microbac Laboratories
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Eurofins
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
 

List of Table

1. Global Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

2. Global Quality Testing Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

3. Global Safety Testing Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

4. Global Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

5. Global Milk and Milk powder Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

6. Global Cheese Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

7. Global Butter & Spreads Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

8. Global Infant Food Dairy Testing Market, By Region, 2022-2030 (USD Billion)

9. Global Ice cream & Desserts Dairy Testing Market, By Region, 2022-2030 (USD Billion)

10. Global Yogurt Dairy Testing Market, By Region, 2022-2030 (USD Billion)

11. Global Other products Dairy Testing Market, By Region, 2022-2030 (USD Billion)

12. Global Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

13. Global Traditional Technology Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

14. Global Rapid Technology Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

15. Global Dairy Testing Market, By Region, 2022-2030 (USD Billion) 

16. North America Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

17. North America Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

18. North America Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

19. U.S. Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

20. U.S. Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

21. U.S. Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

22. Canada Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

23. Canada Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

24. Canada Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

25. Mexico Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

26. Mexico Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

27. Mexico Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

28. Europe Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

29. Europe Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

30. Europe Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

31. Germany Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

32. Germany Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

33. Germany Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

34. France Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

35. France Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

36. France Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

37. U.K. Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

38. U.K. Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

39. U.K. Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

40. Italy Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

41. Italy Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

42. Italy Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

43. Spain Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

44. Spain Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

45. Spain Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

46. Asia Pacific Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

47. Asia Pacific Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

48. Asia Pacific Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

49. Japan Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

50. Japan Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

51. Japan Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

52. China Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

53. China Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

54. China Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

55. India Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

56. India Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

57. India Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

58. South America Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

59. South America Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

60. South America Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

61. Brazil Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

62. Brazil Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

63. Brazil Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

64. Middle East and Africa Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

65. Middle East and Africa Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

66. Middle East and Africa Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

67. UAE Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

68. UAE Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

69. UAE Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

70. South Africa Dairy Testing Market, By Testing Type, 2022-2030 (USD Billion) 

71. South Africa Dairy Testing Market, By Product Type, 2022-2030 (USD Billion) 

72. South Africa Dairy Testing Market, By Technology, 2022-2030 (USD Billion) 

List of Figures 

1. Global Dairy Testing Market Segmentation

2. Dairy Testing 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 Dairy Testing Market Attractiveness Analysis By Testing Type

9. Global Dairy Testing Market Attractiveness Analysis By Product Type

10. Global Dairy Testing Market Attractiveness Analysis By Technology

11. Global Dairy Testing Market Attractiveness Analysis By Region

12. Global Dairy Testing Market: Dynamics

13. Global Dairy Testing Market Share by Testing Type (2021 & 2030)

14. Global Dairy Testing Market Share by Product Type (2021 & 2030)

15. Global Dairy Testing Market Share by Technology (2021 & 2030)

16. Global Dairy Testing Market Share by Regions (2021 & 2030)

17. Global Dairy Testing Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2022 to 2030. The Brainy Insights has segmented the global Dairy Testing market based on below mentioned segments:

Global Dairy Testing Market by Testing Type:

  • Quality testing
  • Safety testing

Global Dairy Testing Market by Product Type:

  • Milk and milk powder
  • Cheese
  • Butter & spreads
  • Infant food
  • Ice cream & desserts
  • Yogurt
  • Others

Global Dairy Testing Market by Technology:

  • Traditional
  • Rapid

Global Dairy Testing 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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