Food Fortifying Agents Market

Food Fortifying Agents Market Size By Type (Proteins & Amino Acids, Vitamins, Lipids, Prebiotics & Probiotics, Carbohydrates, Minerals, and Others), By Application (Infant Formula, Dairy & Dairy-based Products, Cereals & Cereal-based Products, Fats & oils, Beverages, Dietary supplements, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13160
  • Published Date: Sep, 2024
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global food fortifying agents market is expected to reach USD 212.70 billion by 2033, at a CAGR of 9.10% during the forecast period 2024 to 2033. Growing consumer awareness and the prevalence of chronic diseases like cardiovascular disease, Alzheimer's disease, high blood pressure, and many others are the main factors driving the demand for food-fortifying agents.

Market Overview:

Food fortification is a technique used to increase a food item's nutritional value by adding micronutrients. The use of food-fortifying agents in dietary supplements is on the rise. Food fortifying agents are also used in infant formula, pet food, animal feed, animal nutrition, bulk food items, dairy and dairy products, dietary supplements, fats and oils, and sports nutrition products, in addition to nutritional supplements. Governments or food manufacturers typically carry out food fortification, also known as food enrichment. A significant driver of the market expansion for food fortifying agents is the increasing desire for healthier, more nutritious foods and growing health consciousness. Other factors affecting market expansion include evolving lifestyles, increased demand for healthy foods and beverages, and rising disposable income. Growing awareness of the importance and advantages of food-fortifying agents and the increased prevalence of chronic diseases will significantly boost the market's growth pace. The demand for food fortifying agents will see further profitable growth prospects due to continuous technological advancements in the food and beverage industries.

Food Fortifying Agents Market Size

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Market Dynamics:

Drivers
  • Increasing prevalence of chronic diseases 

Growing consumer awareness and the prevalence of chronic diseases like cardiovascular disease, Alzheimer's disease, high blood pressure, and many others are the main factors driving the demand for food-fortifying agents. Another significant factor driving sales in the global market for food fortifying agents is the rise in cases of vitamin deficiency.

Restraints:
  • High Cost

The market growth rate will be slowed down by the high expenses associated with food-fortifying agent research and development activities.

Opportunities:

  • Rapid Innovations

Rapid advancements in the food fortification sector have greatly improved the ease of raising the nutrient value of the diet, which has dramatically increased the demand for food-fortifying agents. In addition, the market for food fortifying agents is growing due to rising awareness of consuming high-quality, healthy foods and changes in health trends.

Challenges:
  • Availability of cheaper alternative

The availability of cheaper and counterfeit products is expected to challenge the market’s growth over the forecast period. There are several local vendors and manufacturers supplying food fortifying agents at cheaper prices as they as manufactured using cheaper raw materials. This alters the quality of the product, thus challenging the market’s growth over the forecast period.

Segmentation Analysis:

The global food fortifying agents market has been segmented based on the type, application, and region.

  • The type segment is divided into proteins & amino acids, vitamins, lipids, prebiotics & probiotics, carbohydrates, minerals, and others. The vitamins segment dominated the market, with a market share of around 29.56% in 2023. Vitamin D is present in the majority of fortified foods, such as ready-to-eat cereals, milk, yogurts, margarine, and other useful foods. The implementation of milk fortification programs across the world is anticipated to drive market growth over the forecast period.
  • The application segment is divided into infant formula, dairy & dairy-based products, cereals & cereal-based products, fats & oils, beverages, dietary supplements, and others​. Over the forecast period, the cereals & cereal-based products segment dominated the market, with a CAGR value of 11.34%. Cereals and cereal-based foods are examples of basic fortified foods. The addition of these vitamins to food helps pregnant and nursing women satisfy their nutrient needs.
Regional segmentation analysis:

The regions analyzed for the food fortifying agents market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global food fortifying agents market, with a 35.11% share of the market revenue in 2023.

North America Region Food Fortifying Agents Market Share in 2023 - 35.11%

 

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  • North America currently dominates the food fortifying agents market with a 35.11% market revenue share in 2023. Programs relating to food fortification for maintaining a healthy diet and combating health issues like malnutrition and micronutrient deficiencies are among the factors driving growth in this region. Growing consumer awareness of nutrient deficiencies, such as those in iodine, vitamins A & D, and myopia, is anticipated to fuel the expansion of the market for fortified foods in this region.
  • The Asia Pacific is expected to witness the fastest growth during the forecast period. The market in this region is anticipated to be driven by the promotion of fortified foods by China's Ministry of Health, as well as rising health concerns connected to aging, adult myopia, and other disorders.
Competitive Analysis:

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

List of Key Market Players:
  • Cargill Incorporated
  • I. du Pont de Nemours and Company
  • Royal DSM
  • BASF SE
  • Arla Foods
  • Archer Daniels Midland Company
  • Hansen Holdings A/S
  • Nestle Sa
  • Ingredion Incorporated
  • Evonik Industries AG
  • Kellogg Co.
  • PPG Industries Inc.
Key Target Audience
  • Market Players
  • Investors
  • End-Users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description: 

  • Global Food Fortifying Agents Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered the base year of the report. 2020, 2021 and 2022 are considered as the historic years and 2024 to 2033 are forecast years. The global food fortifying agents 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 the global food fortifying agents 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 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 food fortifying agents based on the type, application, 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 the global food fortifying agents market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global food fortifying agents 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 porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. 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 influence the company's 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 food fortifying agents market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the food fortifying agents market was valued at USD 89.03 billion in 2023 to USD 212.70 billion by 2033.

The global food fortifying agents market is growing at a CAGR of 9.10% during the forecast period 2024-2033.

North American region emerged as the largest market for food fortifying agents.

The market's growth will be influenced by the increasing prevalence of chronic diseases.

The rapid innovation will provide huge opportunities to the market.

Key players are include Cargill Incorporated, I. du Pont de Nemours and Company, Royal DSM, BASF SE, Arla Foods, Archer Daniels Midland Company, Hansen Holdings A/S, Nestle Sa, Ingredion Incorporated, Evonik Industries AG, Kellogg Co., PPG Industries Inc.

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 Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing prevalence of chronic diseases
    5.3. Restraints
          5.3.1. High Cost
    5.4. Opportunities
          5.4.1. Rapid Innovations
    5.5. Challenges
          5.5.1. Availability of cheaper alternative

6. Global Food Fortifying Agents Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Proteins & Amino Acids
    6.3. Vitamins, Lipids, Prebiotics & Probiotics
    6.4. Carbohydrates
    6.5. Minerals
    6.6. Others

7. Global Food Fortifying Agents Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Infant Formula
    7.3. Dairy & Dairy-based Products
    7.4. Cereals & Cereal-based Products
    7.5. Fats & oils
    7.6. Beverages
    7.7. Dietary supplements
    7.8. Others

8. Global Food Fortifying Agents Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Food Fortifying Agents Market-Competitive Landscape
    9.1. Overview
          9.1.1. Market Share of Key Players in the Food Fortifying Agents Market
          9.1.2. Global Company Market Share
          9.1.3. North America Company Market Share
          9.1.4. Europe Company Market Share
          9.1.5. APAC Company Market Share
    9.2. Competitive Situations and Trends
          9.2.1. Product Launches and Developments
          9.2.2. Partnerships, Collaborations, and Agreements
          9.2.3. Mergers & Acquisitions
          9.2.4. Expansions

10. Company Profiles
    10.1. Cargill Incorporated
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Component Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. I. du Pont de Nemours and Company
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Component Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Royal DSM
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Component Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. BASF SE
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Component Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Arla Foods
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Component Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Archer Daniels Midland Company
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Component Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Hansen Holdings A/S
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Component Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Nestle Sa
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Component Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Ingredion Incorporated
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Component Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Evonik Industries AG
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

2. Global Proteins & Amino Acids, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion) 

3. Global Vitamins, Lipids, Prebiotics & Probiotics, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

4. Global Carbohydrates, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

5. Global Minerals, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

6. Global Others, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

7. Global Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

8. Global Infant Formula, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

9. Global Dairy & Dairy-based Products, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

10. Global Cereals & Cereal-based Products, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

11. Global Fats & oils, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

12. Global Beverages, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

13. Global Dietary supplements, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

14. Global Others, Food Fortifying Agents Market, By Region, 2020-2033 (USD Billion)

15. North America Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

16. North America Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

17. U.S. Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

18. U.S. Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

19. Canada Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

20. Canada Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

21. Mexico Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

22. Mexico Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

23. Europe Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

24. Europe Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

25. Germany Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

26. Germany Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

27. France Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

28. France Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

29. U.K. Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

30. U.K. Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

31. Italy Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

32. Italy Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

33. Spain Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

34. Spain Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

35. Asia Pacific Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

36. Asia Pacific Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

37. Japan Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

38. Japan Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

39. China Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

40. China Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

41. India Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

42. India  Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

43. South America Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

44. South America Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

45. Brazil Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

46. Brazil Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

47. The Middle East and Africa Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

48. The Middle East and Africa Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

49. UAE Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

50. UAE Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

51. South Africa Food Fortifying Agents Market, By Type, 2020-2033 (USD Billion) 

52. South Africa Food Fortifying Agents Market, By Application, 2020-2033 (USD Billion) 

List of Figures 

1. Global Food Fortifying Agents Market Segmentation

2. Food Fortifying Agents 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 Food Fortifying Agents Market Attractiveness Analysis By Type

9. Global Food Fortifying Agents Market Attractiveness Analysis By Application

10. Global Food Fortifying Agents Market Attractiveness Analysis By Region

11. Global Food Fortifying Agents Market: Dynamics

12. Global Food Fortifying Agents Market Share by Type (2023 & 2033)

13. Global Food Fortifying Agents Market Share by Application (2023 & 2033)

14. Global Food Fortifying Agents Market Share by Regions (2023 & 2033)

15. Global Food Fortifying Agents Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Brainy Insights has segmented the global food fortifying agents based on the below-mentioned segments:

Global Food Fortifying Agents by Type:

  • Proteins & Amino Acids
  • Vitamins
  • Lipids
  • Prebiotics & Probiotics
  • Carbohydrates
  • Minerals
  • Others

Global Food Fortifying Agents by Application:

  • Infant Formula
  • Dairy & Dairy-based Products
  • Cereals & Cereal-based Products
  • Fats & oils
  • Beverages
  • Dietary supplements
  • Others

Global Food Fortifying Agents 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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