Meal Replacement Market

Meal Replacement Market Size by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12764
  • Published Date: May, 2022
  • Pages: 234
  • Category: Food & Beverages
  • Format: PDF
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The global meal replacement market is expected to reach USD 22.18 billion by 2030, at a CAGR of 6.3% from 2022 to 2030. Meal replacement market growth would be driven by the rising trend of plant-based and organic food products over the forecast period.

Market Overview:

Meal replacement is a nutritious supplement that is being used for replacing regular meals with shakes and bars. These meal replacement products are easy to use and store as they take up less time in making and come in pouches or bottles which can be easily stored. Regular changes in lifestyle and increasing incidences of health-related issues have caused people to focus on healthy diets. But due to lack of time, many people are unable to give time to cooking and sit and eat properly a three-time meals per day. So, these meal replacements have been designed in such a way that they can be used anywhere and can provide the human body with all the nutrition supplements which the body requires for a healthy life. They act as a substitute for a whole meal with controlled quantities of calories and carbohydrates. These are also suitable for controlling hunger and providing nutrients such as fibers, proteins, minerals, and vitamins which are required in day-to-day life. These meal replacements also provide a balance of calories to the body which can easily replace all those fast foods and high-calorie food that makes the body obese and unhealthy.

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Market Dynamics:

Drivers:
  • The increasing population of health-conscious people

Changing lifestyles of people across the world coupled with rising demand for high-quality, tasty, and healthy food products are anticipated to drive the market growth. There is an increase in the adoption of a nutritious food diet that can replace traditional meals. The replacement meals must be healthy and easy to make so that they can fit into the changing and busy lifestyle of people these days. No one wants to play with their health thus the population of health-conscious people is increasing. But apart from this they also want to have easy meals which can take less time in making to suffice their needs of the nutrition to the body. This factor is driving the growth of the market.

Restraints:
  • High cost

Because of the involvement of the additional processes of manufacturing to improve the nutritional value of the product, the cost of meal replacements is higher compared to regular meals. This high cost of manufacturing could act as a restrain to the market. The high cost of manufacturing is because of the research and development involved in customizing the food supplements as per the needs of the human body. As the meal replacement products are less economic for all sections of the society, this might affect the growth of the market.

Opportunities:
  • Demand from emerging economies

The emerging economies saw a surge in spending on nutritious food, which is attributed to the rising awareness among people of healthy and nutritious food among consumers. The rising demand for nutritious food in emerging economies is also owing to the rising cases of obesity in these regions because of an increase in sedentary lifestyles and increasing global warming. Countries in Asia Pacific regions such as Australia, China, India, and Japan registered the highest cases of overweight and obesity. These geographies with the highest young population are anticipated to create opportunities for the players in the meal replacement market to expand their business.

Challenges:
  • Misinterpretation as protein shakes

Most often meal replacements are being misinterpreted as protein shakes which is a challenge to the growth of the market. Meal replacements are nutritious supplements for regular meals while protein shakes are designed for improving athletic performances and gaining muscles. Protein shakes are usually taken before and after intense exercise, while meal replacements are meant for replacing breakfast, lunch, and dinner. This misunderstanding of meal replacements as protein shakes can impact the growth of meal replacement markets in the forecast period.

Segmentation Analysis:

The global meal replacement market has been segmented based on Product Type, distribution channel, and regions.

  • The product type segment is divided into ready-to-drink, bars, and powder. The powder segment dominated the market with a market share of around 41% in 2021. The convenience and easy usage of powder meal replacement drive the growth of the market. The rapid adoption of powder meal replacements as a part of weight management is expected to generate a positive outlook for the market in the forecast period.
  • The distribution channel segment is divided into online & offline modes. Over the forecast period, the offline segment is expected to grow at the fastest CAGR of 6.6%. Because of the rising health concerns among people meal replacement products have been distributed through hypermarkets and supermarkets.
Regional Segmentation Analysis:

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

  • Asia Pacific region currently dominates the meal replacement market as this region has the highest young population which is health-conscious and prefers taking meal replacements as supplementary diets. The meal replacements taken by the younger population in countries such as China, India, Japan, and Australia are for weight management or for nutrients supplements. Many European regions are also likely to impact the growth of the market because of the increasing awareness regarding the health benefits of meal replacements.

Asia Pacific region Meal Replacement Market Share in 2021 - 35.6%

 

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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 meal replacement market industry.

Graze was taken over by Unilever in September 2019 to expand its presence in the snacks category. Graze is a producer of healthy snacks from Carlyle Group.

In September 2019, Kraft Heinz partnered with Diageo P.L.C. Bailey in order to launch a line of non-alcoholic coffee products. The portfolio includes ready-to-drink coffee, ground coffee, and K-cup formats with the flavors of Bailey's original Irish cream.

List of Key Market Players:

  • Amway
  • Abbott Laboratories
  • Trinkkost GmbH
  • Futricio
  • Saturo Foods GmbH
  • Orgain  Inc.
  • Herbalife International of America, Inc.
  • Atlantic Essentials Products, Inc.
  • Sklew Biotech
  • RITS Health Care Products

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 Meal Replacement 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 meal replacement market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global meal replacement 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 meal replacement based on product type, distribution channel, 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 meal replacement 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 meal replacement 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 meal replacement 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 meal replacement market was valued at USD 12.8 billion in 2021 to USD 22.18 billion by 2030.

The global meal replacement market is growing at a CAGR of 6.3% during the forecast period 2022-2030.

The global meal replacement market has been segmented based on product type, distribution channel, and regions. The powder segment led the market in 2021. The offline segment led the market in 2021.

Asia Pacific region emerged as the largest market for meal replacement.

The market's growth will be influenced by the increasing population of health-conscious people.

High manufacturing costs could hamper the market growth.

Demand from emerging economies will provide huge opportunities to the market.

Key players are Amway, Abbott Laboratories, Trinkkost GmbH, Futricio, Saturo Foods GmbH, Orgain Inc., Herbalife International of America, Inc., Atlantic Essentials Products, Inc., Sklew Biotech, and RITS Health Care Products among others.

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 Product Type
          4.3.2. Market Attractiveness Analysis By Distribution Channel
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing population of health-conscious people
    5.3. Restraints
          5.3.1. High Cost
    5.4. Opportunities
          5.4.1. Demand from emerging economies
    5.5. Challenges
          5.5.1. Misinterpretation as protein shakes

6. Global Meal Replacement Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Ready to Drink
    6.3. Bars
    6.4. Powder

7. Global Meal Replacement Market Analysis and Forecast, By Distribution Channel
    7.1. Segment Overview
    7.2. Online
    7.3. Offline

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

9. Global Meal Replacement Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Meal Replacement Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Amway
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Component Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Abbott Laboratories
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Component Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Trinkkost GmbH
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Component Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Futricio
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Component Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Saturo Foods GmbH
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Component Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Orgain Inc.
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Component Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Herbalife International of America, Inc.
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Component Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Atlantic Essentials Products, Inc.
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Component Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Sklew Biotech
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Component Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. RITS Health Care Products
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
 

List of Table

1. Global Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Ready to Drink Meal Replacement Market, By Region, 2019-2030 (USD Billion) 

3. Global Bars Meal Replacement Market, By Region, 2019-2030 (USD Billion) 

4. Global Powder Meal Replacement Market, By Region, 2019-2030 (USD Billion) 

5. Global Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

6. Global Online Meal Replacement Market, By Region, 2019-2030 (USD Billion) 

7. Global Offline Meal Replacement Market, By Region, 2019-2030 (USD Billion) 

8. North America Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

9. North America Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

10. U.S. Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

11. U.S. Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

12. Canada Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

13. Canada Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

14. Mexico Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

15. Mexico Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

16. Europe Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

17. Europe Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

18. Germany Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

19. Germany Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

20. France Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

21. France Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

22. U.K. Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

23. U.K. Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

24. Italy Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

25. Italy Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

26. Spain Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

27. Spain Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

28. Asia Pacific Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

29. Asia Pacific Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

30. Japan Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

31. Japan Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

32. China Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

33. China Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

34. India Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

35. India Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

36. South America Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

37. South America Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

38. Brazil Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

39. Brazil Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

40. Middle East and Africa Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

41. Middle East and Africa Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

42. UAE Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

43. UAE Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

44. South Africa Meal Replacement Market, By Product Type, 2019-2030 (USD Billion) 

45. South Africa Meal Replacement Market, By Distribution Channel, 2019-2030 (USD Billion) 

List of Figures 

1. Global Meal Replacement Market Segmentation

2. Meal Replacement 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 Meal Replacement Market Attractiveness Analysis By Product Type

9. Global Meal Replacement Market Attractiveness Analysis By Distribution Channel

10. Global Meal Replacement Market Attractiveness Analysis By Region

11. Global Meal Replacement Market: Dynamics

12. Global Meal Replacement Market Share By Product Type (2022 & 2030)

13. Global Meal Replacement Market Share By Distribution Channel (2022 & 2030)

14. Global Meal Replacement Market Share by Regions (2022 & 2030)

15. Global Meal Replacement Market Share by Company (2019)

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

Global Meal Replacement Market by Product Type:

  • Ready-to-Drink Bars
  • Powder

Global Meal Replacement Market by Distribution Channel:

  • Online
  • Offline

Global Meal Replacement 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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