Food Waste Management Market

Food Waste Management Market Size By Type (Fruits & Vegetables, Fish & Sea Food, Meat, Cereals, Dairy Products, and Processed Foods), By Process (Aerobic Digestion, Combustion/Incineration, Anaerobic Digestion, and Others), By Application (Fertilizers, Biofuel, Animal Feed, and Power Generation), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13546
  • Published Date: Jun, 2023
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The global food waste management market was valued at USD 70.0 billion in 2022, growing at a CAGR of 6% from 2023 to 2032. The market is expected to reach USD 125.3 billion by 2032. Population growth, along with higher production and consumption rates, has led to an increase in food waste. Additionally, the market has expanded due to consumer interest and preference changes. Roadblocks, transit restrictions, and quarantine measures disrupted the supply chain, causing significant increases in food waste, particularly for perishable agricultural products, including fruits, vegetables, fish, meat, and dairy products, which fueled the market's expansion.

Market Introduction:

Due to growing worries about global food waste, the food waste management market has experienced tremendous expansion over the past few years. Food waste has increased due to rising manufacturing and consumption rates brought on by the world's expanding population. The shift in customer tastes and preferences, as well as their propensity for novel and exotic foods, tropical fruits, the desire for imported goods, etc., have all contributed to the market's expansion. Food waste generation has increased due to new supply chains being established due to international trade in food ingredients and completed goods. This has helped the food waste management market expand. Waste produced during food production, transportation, the supply chain, distribution, product expiration, etc., is considered food waste. In hotel chains and supply chains alike, food waste is a problem. Additionally, it has been noticed that food waste is a significant problem in developing nations. To address this problem, governments around the world have developed strict guidelines for reducing food waste. Concerns about a sufficient food supply have been highlighted by the changing agricultural practices and the limited number of farming lands, highlighting the significance of practices for managing food waste.

Food Waste Management Market Size

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Recent Development

Market Dynamics:

Drivers

Rising Popularity- Food waste has increased due to the expansion of international trade in food and food ingredients, which has led to the development of new supply chains. Due to consumers' rising popularity of convenience foods, hotels, restaurants, and fast-food franchises are now producing significant amounts of food waste. The calls mentioned above are for adopting food waste management technologies to collect and separate food waste at the source level effectively. This is a result of the growing world population and rising disposable incomes.

Restraints:

Environmental Issues- Rising environmental harm from pyre techniques and an increase in population that reduces consumption losses collectively serve as major restraints and will present additional challenges for the food waste management market over the forecast period.

Opportunities:

Government Initiatives- Governmental efforts to decrease food waste have led to the adoption of rigorous regulations by governments and food management groups, which has sped up food waste management market growth. Governments worldwide are taking steps to prevent food waste, including Love Food, Hate Waste in the U.K. and the Stop Wasting Food movement in Denmark. The UN Environment Programme (UNEP), FAO, and Messe Düsseldorf are collaborating globally under the Think Eat Save initiative to promote food waste management in support of the UN Secretary-General's Hunger Challenge. Around 1.6 billion tonnes, or more than one-third, of the food produced yearly is lost or wasted.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for global food waste management market, with a 46% market revenue share in 2022.

According to FAO, the United States discards between 40 and 80 billion pounds of food yearly, while over 1.4 billion tonnes of food are wasted globally each year. According to the U.S. Department of Agriculture, each American produces 219 pounds of garbage annually, positively affecting the food waste management market. The prevalence of health-conscious customers in the U.S. is projected to raise the nation's intake of fruits and vegetables, increasing the amount of food waste produced. Furthermore, it is predicted that the government's increased emphasis on educating the public about good fruit and vegetable preservation practices will affect the amount of waste produced.

Through its Department of Agriculture (USDA) and Environmental Protection Agency (EPA) efforts, the United States has set a target of reducing food waste by 50% by 2030.

North America Region Food Waste Management Market Share in 2022 - 46%

 

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Type Segment Analysis

The type segment is divided into fruits & vegetables, fish & sea food, meat, cereals, dairy products, and processed foods. The fruits & vegetables segment dominated the market, with a market share of around 40% in 2022. Market expansion for the fruits and vegetable segment is anticipated to benefit from easier waste control of fresh products in the food management sector. The Food and Agriculture Organisation (FAO) claims that more than 45% of the fruits and vegetables grown worldwide are wasted. Due to poor storage and delivery methods, more than 30% of cereals are well-spent. Governments in many nations are making considerable efforts to preserve food goods, which is anticipated to fuel market expansion.

Process Segment Analysis

The process segment is divided into aerobic digestion, combustion/incineration, anaerobic digestion, and others. The anaerobic digestion segment dominated the market, with a market share of around 37% in 2022. Anaerobic digestion processes handle less pathogenic food waste, which minimizes the spread of disease and odours and promotes cleanliness and sanitation. This process fosters market growth by aiding in the recovery of nutrients and energy from waste. Combustion/incineration technology is used for all types of food waste, saving time and money on trash sorting. During the combustion/incineration process, food waste is burned to produce heat and ashes. Additionally, sophisticated economies like Japan, Germany, Denmark, and Sweden regularly use it to generate heat and electricity.

Application Segment Analysis

The application segment is divided into fertilizers, biofuel, animal feed, and power generation. The animal feed segment dominated, with a market share of around 38% in 2022. Food waste can be fed to cattle directly as animal feed or after being converted and processed without incurring additional costs. Since alternative food waste applications are more expensive, waste in animal feed is far more widespread. Digestate, a byproduct of composting or anaerobic digestion of food waste, is rich in carbon, micronutrients, microbes, and other nutrients like potash, nitrogen, calcium, sulphur, magnesium, and phosphate. By employing digestate as fertilizer in the proper methods, farmers may manage their soil more effectively and stop the pollution of land and water caused by the leaching of synthetic fertilizers.

Some of the Key Market Players:
  • Veolia
  • Suez
  • Waste Management, Inc.
  • Republic Services, Inc.
  • Covanta Ltd.
  • Stericycle, Inc.
  • Remondis SE & Co., KG
  • Clean Harbors, Inc.
  • Biffa
  • Rumpke
  • Advanced Disposal Services, Inc.
  • Cleanaway
  • FCC Recycling (UK) Limited
  • DS Smith

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 70.0 Billion
Market size value in 2032 USD 125.3 Billion
CAGR (2023 to 2032) 6%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type, Process, Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the food waste management market was valued at USD 70.0 billion in 2022 to USD 125.3 billion by 2032.

The global food waste management market is growing at a CAGR of 6% during the forecast period 2023-2032.

North America emerged as the largest food waste management market.

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 Process
          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. Rising Popularity
    5.3. Restraints
          5.3.1. Environmental Issues
    5.4. Opportunities
          5.4.1. Government Initiatives
    5.5. Challenges
          5.5.1. Rise of Fire Incidents

6. Global Food Waste Management Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Fruits & Vegetables
    6.3. Fish & Sea Food
    6.4. Meat
    6.5. Cereals
    6.6. Dairy Products
    6.7. Processed Foods

7. Global Food Waste Management Market Analysis and Forecast, By Process
    7.1. Segment Overview
    7.2. Aerobic Digestion
    7.3. Combustion/Incineration
    7.4. Anaerobic Digestion
    7.5. Others

8. Global Food Waste Management Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Fertilizers
    8.3. Biofuel
    8.4. Animal Feed
    8.5. Power Generation

9. Global Food Waste Management 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 Food Waste Management Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Food Waste Management 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. Veolia
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Suez
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Waste Management, Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Republic Services, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Covanta Ltd.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Stericycle, Inc.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Remondis SE & Co., KG
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Clean Harbors, Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Biffa
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Rumpke
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Advanced Disposal Services, Inc.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Cleanaway
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. FCC Recycling (UK) Limited
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. DS Smith
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis

List of Table

1. Global Food Waste Management Market, By Type, 2019-2032 (USD Billion)

2. Global Fruits & Vegetables, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

3. Global Fish & Sea Food, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

4. Global Meat, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

5. Global Cereals, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

6. Global Dairy Products, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

7. Global Processed Foods, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

8. Global Food Waste Management Market, By Process, 2019-2032 (USD Billion)

9. Global Aerobic Digestion, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

10. Global Combustion/Incineration, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

11. Global Anaerobic Digestion, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

12. Global Others, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

13. Global Food Waste Management Market, By Application, 2019-2032 (USD Billion)

14. Global Fertilizers, Food Waste Management Market, By Region, 2019-2032 (USD Billion) 

15. Global Biofuel, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

16. Global Animal Feed, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

17. Global Power Generation, Food Waste Management Market, By Region, 2019-2032 (USD Billion)

18. North America Food Waste Management Market, By Type, 2019-2032 (USD Billion)

19. North America Food Waste Management Market, By Process, 2019-2032 (USD Billion)

20. North America Food Waste Management Market, By Application, 2019-2032 (USD Billion)

21. U.S. Food Waste Management Market, By Type, 2019-2032 (USD Billion)

22. U.S. Food Waste Management Market, By Process, 2019-2032 (USD Billion)

23. U.S. Food Waste Management Market, By Application, 2019-2032 (USD Billion)

24. Canada Food Waste Management Market, By Type, 2019-2032 (USD Billion)

25. Canada Food Waste Management Market, By Process, 2019-2032 (USD Billion)

26. Canada Food Waste Management Market, By Application, 2019-2032 (USD Billion)

27. Mexico Food Waste Management Market, By Type, 2019-2032 (USD Billion)

28. Mexico Food Waste Management Market, By Process, 2019-2032 (USD Billion)

29. Mexico Food Waste Management Market, By Application, 2019-2032 (USD Billion)

30. Europe Food Waste Management Market, By Type, 2019-2032 (USD Billion)

31. Europe Food Waste Management Market, By Process, 2019-2032 (USD Billion)

32. Europe Food Waste Management Market, By Application, 2019-2032 (USD Billion)

33. Germany Food Waste Management Market, By Type, 2019-2032 (USD Billion)

34. Germany Food Waste Management Market, By Process, 2019-2032 (USD Billion)

35. Germany Food Waste Management Market, By Application, 2019-2032 (USD Billion)

36. France Food Waste Management Market, By Type, 2019-2032 (USD Billion)

37. France Food Waste Management Market, By Process, 2019-2032 (USD Billion)

38. France Food Waste Management Market, By Application, 2019-2032 (USD Billion)

39. U.K. Food Waste Management Market, By Type, 2019-2032 (USD Billion)

40. U.K. Food Waste Management Market, By Process, 2019-2032 (USD Billion)

41. U.K. Food Waste Management Market, By Application, 2019-2032 (USD Billion)

42. Italy Food Waste Management Market, By Type, 2019-2032 (USD Billion)

43. Italy Food Waste Management Market, By Process, 2019-2032 (USD Billion)

44. Italy Food Waste Management Market, By Application, 2019-2032 (USD Billion)

45. Spain Food Waste Management Market, By Type, 2019-2032 (USD Billion)

46. Spain Food Waste Management Market, By Process, 2019-2032 (USD Billion)

47. Spain Food Waste Management Market, By Application, 2019-2032 (USD Billion)

48. Asia Pacific Food Waste Management Market, By Type, 2019-2032 (USD Billion)

49. Asia Pacific Food Waste Management Market, By Process, 2019-2032 (USD Billion)

50. Asia Pacific Food Waste Management Market, By Application, 2019-2032 (USD Billion)

51. Japan Food Waste Management Market, By Type, 2019-2032 (USD Billion)

52. Japan Food Waste Management Market, By Process, 2019-2032 (USD Billion)

53. Japan Food Waste Management Market, By Application, 2019-2032 (USD Billion)

54. China Food Waste Management Market, By Type, 2019-2032 (USD Billion)

55. China Food Waste Management Market, By Process, 2019-2032 (USD Billion)

56. China Food Waste Management Market, By Application, 2019-2032 (USD Billion)

57. India Food Waste Management Market, By Type, 2019-2032 (USD Billion)

58. India Food Waste Management Market, By Process, 2019-2032 (USD Billion)

59. India Food Waste Management Market, By Application, 2019-2032 (USD Billion)

60. South America Food Waste Management Market, By Type, 2019-2032 (USD Billion)

61. South America Food Waste Management Market, By Process, 2019-2032 (USD Billion)

62. South America Food Waste Management Market, By Application, 2019-2032 (USD Billion)

63. Brazil Food Waste Management Market, By Type, 2019-2032 (USD Billion)

64. Brazil Food Waste Management Market, By Process, 2019-2032 (USD Billion)

65. Brazil Food Waste Management Market, By Application, 2019-2032 (USD Billion)

66. Middle East and Africa Food Waste Management Market, By Type, 2019-2032 (USD Billion)

67. Middle East and Africa Food Waste Management Market, By Process, 2019-2032 (USD Billion)

68. Middle East and Africa Food Waste Management Market, By Application, 2019-2032 (USD Billion)

69. UAE Food Waste Management Market, By Type, 2019-2032 (USD Billion)

70. UAE Food Waste Management Market, By Process, 2019-2032 (USD Billion)

71. UAE Food Waste Management Market, By Application, 2019-2032 (USD Billion)

72. South Africa Food Waste Management Market, By Type, 2019-2032 (USD Billion)

73. South Africa Food Waste Management Market, By Process, 2019-2032 (USD Billion)

74. South Africa Food Waste Management Market, By Application, 2019-2032 (USD Billion)

List of Figures 

1. Global Food Waste Management Market Segmentation

2. Global Food Waste Management 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 Waste Management Market Attractiveness Analysis by Type

9. Global Food Waste Management Market Attractiveness Analysis by Process

10. Global Food Waste Management Market Attractiveness Analysis by Application

11. Global Food Waste Management Market Attractiveness Analysis by Region

12. Global Food Waste Management Market: Dynamics

13. Global Food Waste Management Market Share by Type (2023 & 2032)

14. Global Food Waste Management Market Share by Process (2023 & 2032)

15. Global Food Waste Management Market Share by Application (2023 & 2032)

16. Global Food Waste Management Market Share by Regions (2023 & 2032)

17. Global Food Waste Management Market Share by Company (2022)

This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global food waste management market based on the below-mentioned segments:

Global Food Waste Management Market By Type:

  • Fruits & Vegetables
  • Fish & Sea Food
  • Meat
  • Cereals
  • Dairy Products
  • Processed Foods

Global Food Waste Management Market By Process:

  • Aerobic Digestion
  • Combustion/Incineration
  • Anaerobic Digestion
  • Others

Global Food Waste Management Market By Application:

  • Fertilizers
  • Biofuel
  • Animal Feed
  • Power Generation

Global Food Waste Management 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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