Forskolin Market

Global Forskolin Market Size By Purity (Low, Medium, High), By Application (Glaucoma, Psoriasis, Cardiovascular Disorders, Hypothyroidism, Allergy Treatment, Respiratory Problems, Weight Management and Others), By End-user (Dietary Supplements, Nutraceuticals, Cosmetics, Pharmaceuticals, Food and Beverage and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12773
  • Published Date: May, 2022
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The global forskolin market is expected to reach USD 889.3 million by 2030, at a CAGR of 7.9% from 2022 to 2030. The forskolin market has been growing owing to the multiple application of forskolin, and the increasing healthcare benefits of the forskolin.

Market Overview:

Forskolin is a chemical compound that occurs naturally in the roots of the Indian Coleus (Coleus forskohlii). Indian Coleus is a tropical plant that belongs to the family of mints. Forskolin is used as an herbal compound to treat various health issues such as respiratory disorders, digestive disorders, weight management, insomnia, etc. The preferences for herbal supplements started increasing in recent years for curing several diseases. There has been an increase in health consciousness and chemical-free medications among consumers of different age groups, increasing the demand for forskolin. The Indian Coleus plant was used in Ayurveda but has gained importance in the allopathy industry. The Indian coleus plant is typically found in countries of Southeast Asia, such as India and Thailand. Forskolin is also effective in treating allergies and other skin-related issues. It also helps suppress hunger and increases the body's energy level. The health benefits of the forskolin extracts from the Indian Coleus are increasing its usage in all medicinal values. Moreover, forskolin also helps in boosting the level of the cyclic AMP. Cyclic AMP is a prevalent ingredient that helps with nutrition supplements.

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Market Dynamics:

Drivers:
  • Multiple health benefits

There are several health benefits of forskolin that are widely used to treat chronic diseases such as respiratory disorders, digestive disorders, weight management, insomnia, etc., driving the market's growth. In addition to this, they are also used for curing skin allergies and other skin conditions and suppressing hunger. Forskolin is the main ingredient used in the production of healthcare supplements, medicines, and fitness products. The rising concern about health and fitness is driving the growth of the forskolin marker.

Restraints:
  • Rare availability

Indian Coleus is a rare plant that is difficult to find, which restraints the market's growth. They only flower for a shorter period between August to October. They are only found at altitudes above 1200 m, making them a rare flowering plant. This infrequent availability hampers the growth of the market.

Opportunities:
  • The rise in demand for natural products

The increased awareness among consumers for health and rising demand for natural and plant-based products is expected to propel the market's growth during the forecast period. The increased demand for weight loss or dietary supplements is also expected to boost the market's growth during the forecast period.

Challenges:
  • Covid-19 Pandemic

The Covid-19 pandemic had a significant impact on the supply chain of the forskolin, and companies experienced substantial delays in obtaining the raw materials they require for producing healthcare supplements from forskolin. Lockdown restrictions and workforce shortage resulted in the decline of forskolin production, which challenged the market's growth.

Segmentation Analysis:

The global forskolin market has been segmented based on purity, application, end-user, and regions.

  • The purity type segment is divided into low, medium, and high. The high purity segment dominated the market with a market share of around 38% in 2021. High-purity forskolin is derived from the roots of the Indian coleus plant. This extraction from the roots of the plant results in the purest form of forskolin, which is widely used for manufacturing cosmetics and skincare products. This propels the growth of the segment during the forecast period.
  • The application segment is divided into weight management, psoriasis, allergy treatment, respiratory problems, glaucoma, cardiovascular disorders, and others. Over the forecast period, the weight management segment is expected to grow at the fastest CAGR of 8.6%. The sedentary lifestyle of humans has resulted in weight gain. However, with time people are becoming more health-conscious and opting for natural and plant-based products for weight loss which boosts the market's growth.
  • The end-user segment is divided into food and beverage, nutraceuticals, cosmetics, dietary supplements, pharmaceuticals, and others. In 2021, the dietary supplements segment dominated the market with a market share of around 28% and a market revenue of 125.6 million. The non-toxic nature of the nutritional supplements makes forskolin safe for human consumption, which drives the market's growth in the segment over the forecast period.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe region emerged as the largest market for the global forskolin market with a 36.6% share of the market revenue in 2021.

The Europe region currently dominates the forskolin market as this region has emerged as the top market for personal care and cosmetics. People in Europe are more concerned about their health and have increased the consumption of plant-based products and natural products, which drives the growth of the market in the region. Along with this, the region has high production of customized personal care products which propels the market’s growth in the region. Many European regions are also likely to impact the market's growth because of the increasing awareness regarding the health benefits of forskolin.

Europe Region Forskolin Market Share in 2021 - 36.6%

 

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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 forskolin market industry.

List of Key Market Players:

  • Alchem International Ltd.
  • Shaanxi Jiahe Phytochem
  • Nutra Green Biotechnology
  • Flavour Trove
  • Alpspure Lifesciences Pvt. Ltd.
  • Cymbio Pharma Pvt. Ltd.
  • Bioprex Labs
  • Glentham Life Sciences
  • Sabinsa Corporation
  • Varion Lifesciences Pvt. Ltd.

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 Forskolin 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 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 forskolin market is based on revenue (USD Million). 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 forskolin 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 Forskolin based on purity, application, end-user, 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 forskolin 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 forskolin 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 informations. 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'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 forskolin 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 forskolin market was valued at USD 448.6 million in 2021 to USD 889.3 million by 2030.

The global forskolin market is growing at a CAGR of 7.9% during the forecast period 2022-2030.

The global forskolin market has been segmented based on purity, application, end-user, and regions. The high purity segment led the market in 2021. The weight management segment led the market in 2021.

Europe emerged as the largest market for forskolin.

The market's growth will be influenced by the multiple health benefits.

The rare availability of the plant could hamper the market growth.

The rise in demand for natural products will provide huge opportunities to the market.

Key players are Alchem International Ltd., Shaanxi Jiahe Phytochem, Nutra Green Biotechnology, Flavour Trove, Alpspure Lifesciences Pvt. Ltd., Cymbio Pharma Pvt. Ltd., Bioprex Labs, Glentham Life Sciences, Sabinsa Corporation, Varion Lifesciences Pvt. Ltd.

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 Purity
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By End-user
          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. Multiple health benefits
    5.3. Restraints
          5.3.1. Rare availability
    5.4. Opportunities
          5.4.1. Rise in demand for natural products
    5.5. Challenges
          5.5.1. Covid-19 Pandemic

6. Global Forskolin Market Analysis and Forecast, By Purity
    6.1. Segment Overview
    6.2. Low
    6.3. Medium
    6.4. High

7. Global Forskolin Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Glaucoma
    7.3. Psoriasis
    7.4. Cardiovascular Disorders
    7.5. Hypothyroidism
    7.6. Allergy Treatment
    7.7. Respiratory Problems
    7.8. Weight Management
    7.9. Others

8. Global Forskolin Market Analysis and Forecast, By End-user
    8.1. Segment Overview
    8.2. Dietary Supplements
    8.3. Nutraceuticals
    8.4. Cosmetics
    8.5. Pharmaceuticals
    8.6. Food
    8.7. Beverage
    8.8. Others

9. Global Forskolin 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 Forskolin Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Forskolin 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. Alchem International Ltd.
          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. Shaanxi Jiahe Phytochem
          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. Nutra Green Biotechnology
          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. Flavour Trove
          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. Alpspure Lifesciences Pvt. Ltd.
          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. Cymbio Pharma Pvt. Ltd.
          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. Bioprex Labs
          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. Glentham Life Sciences
          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. Sabinsa Corporation
          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
    11.10. Varion Lifesciences Pvt. Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Forskolin Market, By Purity, 2019-2030 (USD Million) 

2. Global Low Forskolin Market, By Region, 2019-2030 (USD Million) 

3. Global Medium Forskolin Market, By Region, 2019-2030 (USD Million) 

4. Global High Forskolin Market, By Region, 2019-2030 (USD Million) 

5. Global Forskolin Market, By Application, 2019-2030 (USD Million) 

6. Global Glaucoma Forskolin Market, By Region, 2019-2030 (USD Million)

7. Global Psoriasis Forskolin Market, By Region, 2019-2030 (USD Million)

8. Global Cardiovascular Disorders Forskolin Market, By Region, 2019-2030 (USD Million) 

9. Global Hypothyroidism Forskolin Market, By Region, 2019-2030 (USD Million)

10. Global Allergy Treatment Forskolin Market, By Region, 2019-2030 (USD Million)

11. Global Respiratory Problems Forskolin Market, By Region, 2019-2030 (USD Million)

12. Global Weight Management Forskolin Market, By Region, 2019-2030 (USD Million)

13. Global Others Forskolin Market, By Region, 2019-2030 (USD Million)

14. Global Forskolin Market, By End-user, 2019-2030 (USD Million) 

15. Global Dietary Supplements Forskolin Market, By Region, 2019-2030 (USD Million) 

16. Global Nutraceuticals Forskolin Market, By Region, 2019-2030 (USD Million) 

17. Global Cosmetics Forskolin Market, By Region, 2019-2030 (USD Million)

18. Global Pharmaceuticals Forskolin Market, By Region, 2019-2030 (USD Million)

19. Global Food Forskolin Market, By Region, 2019-2030 (USD Million)

20. Global Beverage Forskolin Market, By Region, 2019-2030 (USD Million)

21. Global Other Forskolin Market, By Region, 2019-2030 (USD Million)

22. Global Forskolin Market, By Region, 2019-2030 (USD Million) 

23. North America Forskolin Market, By Purity, 2019-2030 (USD Million) 

24. North America Forskolin Market, By Application, 2019-2030 (USD Million) 

25. North America Forskolin Market, By End-user, 2019-2030 (USD Million) 

26. U.S. Forskolin Market, By Purity, 2019-2030 (USD Million) 

27. U.S. Forskolin Market, By Application, 2019-2030 (USD Million) 

28. U.S. Forskolin Market, By End-user, 2019-2030 (USD Million) 

29. Canada Forskolin Market, By Purity, 2019-2030 (USD Million) 

30. Canada Forskolin Market, By Application, 2019-2030 (USD Million) 

31. Canada Forskolin Market, By End-user, 2019-2030 (USD Million) 

32. Mexico Forskolin Market, By Purity, 2019-2030 (USD Million) 

33. Mexico Forskolin Market, By Application, 2019-2030 (USD Million) 

34. Mexico Forskolin Market, By End-user, 2019-2030 (USD Million) 

35. Europe Forskolin Market, By Purity, 2019-2030 (USD Million) 

36. Europe Forskolin Market, By Application, 2019-2030 (USD Million) 

37. Europe Forskolin Market, By End-user, 2019-2030 (USD Million) 

38. Germany Forskolin Market, By Purity, 2019-2030 (USD Million) 

39. Germany Forskolin Market, By Application, 2019-2030 (USD Million) 

40. Germany Forskolin Market, By End-user, 2019-2030 (USD Million) 

41. France Forskolin Market, By Purity, 2019-2030 (USD Million) 

42. France Forskolin Market, By Application, 2019-2030 (USD Million) 

43. France Forskolin Market, By End-user, 2019-2030 (USD Million) 

44. U.K. Forskolin Market, By Purity , 2019-2030 (USD Million) 

45. U.K. Forskolin Market, By Application, 2019-2030 (USD Million) 

46. U.K. Forskolin Market, By End-user, 2019-2030 (USD Million) 

47. Italy Forskolin Market, By Purity, 2019-2030 (USD Million) 

48. Italy Forskolin Market, By Application, 2019-2030 (USD Million) 

49. Italy Forskolin Market, By End-user, 2019-2030 (USD Million) 

50. Spain Forskolin Market, By Purity, 2019-2030 (USD Million) 

51. Spain Forskolin Market, By Application, 2019-2030 (USD Million) 

52. Spain Forskolin Market, By End-user, 2019-2030 (USD Million) 

53. Asia Pacific Forskolin Market, By Purity, 2019-2030 (USD Million) 

54. Asia Pacific Forskolin Market, By Application, 2019-2030 (USD Million) 

55. Asia Pacific Forskolin Market, By End-user, 2019-2030 (USD Million) 

56. Japan Forskolin Market, By Purity, 2019-2030 (USD Million) 

57. Japan Forskolin Market, By Application, 2019-2030 (USD Million) 

58. Japan Forskolin Market, By End-user, 2019-2030 (USD Million) 

59. China Forskolin Market, By Purity, 2019-2030 (USD Million) 

60. China Forskolin Market, By Application, 2019-2030 (USD Million) 

61. China Forskolin Market, By End-user, 2019-2030 (USD Million) 

62. India Forskolin Market, By Purity, 2019-2030 (USD Million) 

63. India Forskolin Market, By Application, 2019-2030 (USD Million) 

64. India Forskolin Market, By End-user, 2019-2030 (USD Million) 

65. South America Forskolin Market, By Purity, 2019-2030 (USD Million) 

66. South America Forskolin Market, By Application, 2019-2030 (USD Million) 

67. South America Forskolin Market, By End-user, 2019-2030 (USD Million) 

68. Brazil Forskolin Market, By Purity, 2019-2030 (USD Million) 

69. Brazil Forskolin Market, By Application, 2019-2030 (USD Million) 

70. Brazil Forskolin Market, By End-user, 2019-2030 (USD Million) 

71. Middle East and Africa Forskolin Market, By Purity, 2019-2030 (USD Million) 

72. Middle East and Africa Forskolin Market, By Application, 2019-2030 (USD Million) 

73. Middle East and Africa Forskolin Market, By End-user, 2019-2030 (USD Million) 

74. UAE Forskolin Market, By Purity , 2019-2030 (USD Million) 

75. UAE Forskolin Market, By Application, 2019-2030 (USD Million) 

76. UAE Forskolin Market, By End-user, 2019-2030 (USD Million) 

77. South Africa Forskolin Market, By Purity, 2019-2030 (USD Million) 

78. South Africa Forskolin Market, By Application, 2019-2030 (USD Million) 

79. South Africa Forskolin Market, By End-user, 2019-2030 (USD Million) 

List of Figures 

1. Global Forskolin Market Segmentation

2. Forskolin 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 Forskolin Market Attractiveness Analysis By Purity 

9. Global Forskolin Market Attractiveness Analysis By Application

10. Global Forskolin Market Attractiveness Analysis By End-user

11. Global Forskolin Market Attractiveness Analysis By Region

12. Global Forskolin Market: Dynamics

13. Global Forskolin Market Share by Purity (2022 & 2030)

14. Global Forskolin Market Share by Application (2022 & 2030)

15. Global Forskolin Market Share by End-user (2022 & 2030)

16. Global Forskolin Market Share by Regions (2022 & 2030)

17. Global Forskolin 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 forskolin market based on the below-mentioned segments:

Global Forskolin Market by Purity:

  • Low
  • Medium
  • High

Global Forskolin Market by Application:

  • Glaucoma
  • Psoriasis
  • Cardiovascular Disorders
  • Hypothyroidism
  • Allergy Treatment
  • Respiratory Problems
  • Weight Management
  • Others

Global Forskolin Market by End-User:

  • Dietary Supplements
  • Nutraceuticals
  • Cosmetics
  • Pharmaceuticals
  • Food
  • Beverage
  • Others

Global Forskolin 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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