Gelatin Market

Gelatin Market Size by Function (Thickener, Stabilizer, Gelling Agents, Others), By Application (Food & Beverages, Healthcare), By Source (Bovine, Porcine, Poultry, Marine, Others) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13515
  • Published Date: Sep, 2024
  • Pages: 237
  • Category: Food & Beverages
  • Format: PDF
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The global gelatin market was valued at USD 6.8 billion in 2023 and grew at a CAGR of 8.5% from 2024 to 2033. The market is expected to reach USD 15.5 billion by 2033. Due to its capacity to improve food quality, prevent several diseases, and be used in food fortification, gelatin is expected to see significant demand from functional food applications. Gelatin is a very viscous semi-solid gel that contains 85% to 90% protein, 2% to 4% salts of minerals, and 8% to 12% water. The most widely used commercially accessible form is edible gelatin, it is edible gelatin, which is free of any additional additions or preservatives. Glue, polish, and nail photographic films and sheets are the most common non-edible materials used in photography and cosmetics. Gelatin is also used in the Cosmetic and Personal Care Industry. Gelatin is used in anti-ageing products and collagen supplements. Nails, hair and skin can be kept healthy with the help of gelatin. Today's generation is very conscious about health. Weight can be managed by using gelatin. This is because gelatin has satiating properties that help control appetite.

Market Introduction:

The market for functioning food and drinks has increased and there is a rise in the number of medicinal applications, which is driving up the global market. The market is driven by the escalating demand for clean-label goods and their expanding use in cosmetics. Due to the product's exceptional gelling, stabilizing, and foaming qualities, it is widely used as a food stabilizer. The rising popularity of foods like pasta, yogurt, jams, and jellies may be to blame for its expanding use as a food stabilizer. Additionally, during the pandemic, individuals experimented with cooking and baking, which raised the need for gelatin. Gelatin is used to prevent cross-linkage reactions and enhances dissolution in soft capsule applications. These capsules are easy to digest and can easily preserve the ingredients present in them. The use of gelatin also helps keep joints, skin, and bones healthy.

Gelatin Market Size

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Recent Development
  • In January 2022: According to a report from Darling Ingredients Inc., the Terasaki Institute for Biomedical Innovation (TIBI), a regenerative medicine research center with a Californian basis, collaborated with the company's worldwide brand, Rousselot Health. With this alliance, the businesses will concentrate on creating gelatin-based treatments that will eventually find use in clinical settings.
  • In October 2021: Darling Ingredients' health brand Rousselot introduced QualiPure, a line of products with regulated endotoxin levels for use in biomedical applications. It was created for hemostatics, medication administration, vaccinations, and wound healing.
  • In January 2021: In the HoReCa segment, Nitta Gelatin India introduced premium gelatin of high international standards. According to the manufacturer, food enthusiasts could prepare and enjoy a variety of sweets, jellies, marshmallows, and other culinary products that met international standards.

Market Dynamics:

Drivers

Gelatin is frequently utilized in food and beverage manufacturing because of its special properties to gel, stabilize, and dissolve. It is used in a variety of foods, including desserts, drinks, dairy items, meat products, and confectionery. The market for gelatin in the food and beverage industry is being driven by factors such as growing populations, rising disposable incomes, and shifting customer preferences for convenience meals.

Restraints:

Substitute ingredients and plant-based gelatin substitutes are in higher demand as customers grow more environmentally friendly and health-conscious. As a result, alternatives like agar, carrageenan, and pectin were created and made commercially available; these substances may perform comparable tasks in a variety of applications. Also, the environment and sustainability are impacted by the manufacture of gelatin from animal sources. Significant amounts of energy, water, and land are needed. Additionally, customer perceptions and decisions may be impacted by worries regarding animal welfare and the effects of intensive farming methods.

Opportunities:

Modern medication delivery methods and innovative drug formulations are being developed in the pharmaceutical business. In the pharmaceutical industry, gelatin-based capsules, pills, and coatings are often utilized. Gelatin producers have the chance to work with pharmaceutical firms to provide unique solutions in response to the rising need for personalized medicine, nutrients, and cutting-edge drug delivery methods.

Regional segmentation analysis:

Europe led the market in 2023 with the largest market share of 38.9%. The increased demand from end-use sectors including cosmetics, food & beverage, and healthcare is to blame for this. In addition, the proliferation of manufacturing firms like Biogel AG, Prowico, and Gelita, among others, is a sign of the market's increasing need for the product. Because of the considerable consumption of pork and beef in the region, the gelatin that is utilized there frequently comes from sources that are bovine or porcine. The region’s increasing sales of cosmetic goods can also be credited with increasing demand for the product.

Europe Region Gelatin Market Share in 2023 - 38.9%

 

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Function Segment Analysis

The stabilizer segment dominated the global market in 2023 with a market share of 42.3%. This significant percentage is explained by characteristics like emulsifying effects. They also assist the body get nourishment and smooth out the texture of the meal. Additionally, they are in charge of providing the product with a consistent nature or consistency and keeping the flavoring ingredients in dispersion forms. These characteristics of gelatin make it perfect for stabilizing a variety of foods, including frozen desserts, margarine, spreads, dairy goods, salad dressings, and mayonnaise.

Application Segment Analysis

The food & beverages segment held a significant market share of 57.8% in 2023. Due to the rising demand for different food and beverage items such as desserts, nutritious foods, functional beverages, confectionary goods, and meat products globally, it has a large market share. Products that are marketed as functional foods have extra nutritional advantages, such as boosting immunity and decreased fatigue. According to New Food Magazine, many people have examined their attitudes regarding health, food, and fitness during the past two years as a result of COVID-19.

Source Segment Analysis

The bovine segment dominated the global market in 2023 with a market share of 36.1%. This is a result of more and more food and beverage applications using bovine-based gelatin. Additionally, the shift in consumer preferences toward a healthy, protein-rich diet is anticipated to increase the need for nutritional products globally and drive market expansion. Factors including the expanding population, shifting consumer tastes, and increased usage of gelatin in a variety of sectors all contribute to the need for bovine gelatin. The market for bovine gelatin is rising because of the rise in applications in the food and beverage industry, the pharmaceutical and nutraceutical industries, and the expanding cosmetic and personal care industries.

Some of the Key Market Players:
  • STERLING GELATIN
  • Weishardt Holding SA
  • Junca Gelatines SL
  • Nitta Gelatin, Inc.
  • PAN Biotech GmbH
  • Shanghai Al-Amin Biotechnology Co., Ltd.
  • Tessenderlo Group
  • GELITA AG
  • Rousselot
  • PB Leiner

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 6.8 Billion
Market size value in 2033 USD 15.5 Billion
CAGR (2024 to 2033) 8.5%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
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 Function, Application, Source

Frequesntly Asked Questions

As per The Brainy Insights, the size of the gelatin market was valued at USD 6.8 billion in 2023 to USD 15.5 billion by 2033.

The global gelatin market is growing at a CAGR of 8.5% during the forecast period 2024-2033.

The Europe region emerged as the largest market for the gelatin.

Shifting customer preferences for convenience meals will influence the market's growth.

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 Function
          4.3.2. Market Attractiveness Analysis by Application
          4.3.3. Market Attractiveness Analysis by Source
          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. Shifting customer preferences for convenience meals
    5.3. Restraints
          5.3.1. Presence of substitute ingredients
    5.4. Opportunities
          5.4.1. Rise in demand from pharmaceutical sector

6. Global Gelatin Market Analysis and Forecast, By Function
    6.1. Segment Overview
    6.2. Thickener
    6.3. Stabilizer
    6.4. Gelling Agents
    6.5. Others

7. Global Gelatin Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Food & Beverages
    7.3. Healthcare

8. Global Gelatin Market Analysis and Forecast, By Source
    8.1. Segment Overview
    8.2. Bovine
    8.3. Porcine
    8.4. Poultry
    8.5. Marine
    8.6. Others

9. Global Gelatin 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 Gelatin Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Gelatin 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. STERLING GELATIN
          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. Weishardt Holding SA
          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. Junca Gelatines SL
          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. Nitta Gelatin, 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. PAN Biotech GmbH
          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. Shanghai Al-Amin Biotechnology Co., Ltd.
          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. Tessenderlo Group
          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. GELITA AG
          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. Rousselot
          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. PB Leiner
          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

List of Table

1. Global Gelatin Market, By Function, 2020-2033 (USD Billion) 

2. Global Thickener, Gelatin Market, By Region, 2020-2033 (USD Billion) 

3. Global Stabilizer, Gelatin Market, By Region, 2020-2033 (USD Billion) 

4. Global Gelling Agents, Gelatin Market, By Region, 2020-2033 (USD Billion) 

5. Global Others, Gelatin Market, By Region, 2020-2033 (USD Billion) 

6. Global Gelatin Market, By Application, 2020-2033 (USD Billion) 

7. Global Food & Beverages, Gelatin Market, By Region, 2020-2033 (USD Billion) 

8. Global Healthcare, Gelatin Market, By Region, 2020-2033 (USD Billion) 

9. Global Gelatin Market, By Source, 2020-2033 (USD Billion) 

10. Global Bovine, Gelatin Market, By Region, 2020-2033 (USD Billion) 

11. Global Porcine, Gelatin Market, By Region, 2020-2033 (USD Billion) 

12. Global Poultry, Gelatin Market, By Region, 2020-2033 (USD Billion) 

13. Global Marine, Gelatin Market, By Region, 2020-2033 (USD Billion) 

14. Global Others, Gelatin Market, By Region, 2020-2033 (USD Billion) 

15. Global Gelatin Market, By Region, 2020-2033 (USD Billion) 

16. North America Gelatin Market, By Function, 2020-2033 (USD Billion) 

17. North America Gelatin Market, By Application, 2020-2033 (USD Billion) 

18. North America Gelatin Market, By Source, 2020-2033 (USD Billion) 

19. U.S. Gelatin Market, By Function, 2020-2033 (USD Billion) 

20. U.S. Gelatin Market, By Application, 2020-2033 (USD Billion) 

21. U.S. Gelatin Market, By Source, 2020-2033 (USD Billion) 

22. Canada Gelatin Market, By Function, 2020-2033 (USD Billion) 

23. Canada Gelatin Market, By Application, 2020-2033 (USD Billion) 

24. Canada Gelatin Market, By Source, 2020-2033 (USD Billion) 

25. Mexico Gelatin Market, By Function, 2020-2033 (USD Billion) 

26. Mexico Gelatin Market, By Application, 2020-2033 (USD Billion) 

27. Mexico Gelatin Market, By Source, 2020-2033 (USD Billion) 

28. Europe Gelatin Market, By Function, 2020-2033 (USD Billion) 

29. Europe Gelatin Market, By Application, 2020-2033 (USD Billion) 

30. Europe Gelatin Market, By Source, 2020-2033 (USD Billion) 

31. Germany Gelatin Market, By Function, 2020-2033 (USD Billion) 

32. Germany Gelatin Market, By Application, 2020-2033 (USD Billion) 

33. Germany Gelatin Market, By Source, 2020-2033 (USD Billion) 

34. France Gelatin Market, By Function, 2020-2033 (USD Billion) 

35. France Gelatin Market, By Application, 2020-2033 (USD Billion) 

36. France Gelatin Market, By Source, 2020-2033 (USD Billion) 

37. U.K. Gelatin Market, By Function, 2020-2033 (USD Billion) 

38. U.K. Gelatin Market, By Application, 2020-2033 (USD Billion) 

39. U.K. Gelatin Market, By Source, 2020-2033 (USD Billion) 

40. Italy Gelatin Market, By Function, 2020-2033 (USD Billion) 

41. Italy Gelatin Market, By Application, 2020-2033 (USD Billion) 

42. Italy Gelatin Market, By Source, 2020-2033 (USD Billion) 

43. Spain Gelatin Market, By Function, 2020-2033 (USD Billion) 

44. Spain Gelatin Market, By Application, 2020-2033 (USD Billion) 

45. Spain Gelatin Market, By Source, 2020-2033 (USD Billion) 

46. Asia Pacific Gelatin Market, By Function, 2020-2033 (USD Billion) 

47. Asia Pacific Gelatin Market, By Application, 2020-2033 (USD Billion) 

48. Asia Pacific Gelatin Market, By Source, 2020-2033 (USD Billion) 

49. Japan Gelatin Market, By Function, 2020-2033 (USD Billion) 

50. Japan Gelatin Market, By Application, 2020-2033 (USD Billion) 

51. Japan Gelatin Market, By Source, 2020-2033 (USD Billion) 

52. China Gelatin Market, By Function, 2020-2033 (USD Billion) 

53. China Gelatin Market, By Application, 2020-2033 (USD Billion) 

54. China Gelatin Market, By Source, 2020-2033 (USD Billion) 

55. India Gelatin Market, By Function, 2020-2033 (USD Billion) 

56. India Gelatin Market, By Application, 2020-2033 (USD Billion) 

57. India Gelatin Market, By Source, 2020-2033 (USD Billion) 

58. South America Gelatin Market, By Function, 2020-2033 (USD Billion) 

59. South America Gelatin Market, By Application, 2020-2033 (USD Billion) 

60. South America Gelatin Market, By Source, 2020-2033 (USD Billion) 

61. Brazil Gelatin Market, By Function, 2020-2033 (USD Billion) 

62. Brazil Gelatin Market, By Application, 2020-2033 (USD Billion) 

63. Brazil Gelatin Market, By Source, 2020-2033 (USD Billion) 

64. Middle East and Africa Gelatin Market, By Function, 2020-2033 (USD Billion) 

65. Middle East and Africa Gelatin Market, By Application, 2020-2033 (USD Billion) 

66. Middle East and Africa Gelatin Market, By Source, 2020-2033 (USD Billion) 

67. UAE Gelatin Market, By Function, 2020-2033 (USD Billion) 

68. UAE Gelatin Market, By Application, 2020-2033 (USD Billion) 

69. UAE Gelatin Market, By Source, 2020-2033 (USD Billion) 

70. South Africa Gelatin Market, By Function, 2020-2033 (USD Billion) 

71. South Africa Gelatin Market, By Application, 2020-2033 (USD Billion) 

72. South Africa Gelatin Market, By Source, 2020-2033 (USD Billion) 

List of Figures 

1. Global Gelatin Market Segmentation

2. Gelatin 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 Gelatin Market Attractiveness Analysis by Function

9. Global Gelatin Market Attractiveness Analysis by Application

10. Global Gelatin Market Attractiveness Analysis by Source

11. Global Gelatin Market Attractiveness Analysis by Region

12. Global Gelatin Market: Dynamics

13. Global Gelatin Market Share by Function (2023 & 2033)

14. Global Gelatin Market Share by Application (2023 & 2033)

15. Global Gelatin Market Share by Source (2023 & 2033)

16. Global Gelatin Market Share by Regions (2023 & 2033)

17. Global Gelatin Market Share by Company (2023)

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

Global Gelatin Market by Function:

  • Thickener
  • Stabilizer
  • Gelling Agents
  • Others

Global Gelatin Market by Application:

  • Food & Beverages
  • Healthcare

Global Gelatin Market by Source:

  • Bovine
  • Porcine
  • Poultry
  • Marine
  • Others

Global Gelatin 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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