Nutraceutical Ingredients Market

Nutraceutical Ingredients Market Size by Product Type (Proteins, Probiotics, Phytochemicals & Plant Extracts, Amino Acids, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), By Form (Dry, Liquid), End-User, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12934
  • Published Date: Sep, 2022
  • Pages: 235
  • Category: Food & Beverages
  • Format: PDF
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The global nutraceutical ingredients market was valued at USD 163.8 billion in 2021. The global nutraceutical ingredients market is expected to reach USD 308.8 billion by 2030 at a CAGR of 7.3% from 2022 to 2030. The North America is expected to grow the fastest during the forecast period. The demand for nutraceuticals ingredients has been increasing owing to the factors such as rising awareness regarding health & wellness among consumers. Furthermore, the increasing demand for fortified food products propels the market's growth. The rising incidences of chronic diseases worldwide also drive the market's growth. On the other hand, the increasing mandates on food fortification by government organizations will bode well for the market. The market is further growing owing to consumers' increasing demand for nutraceutical products such as prebiotics, probiotics, and vitamins.

Market Introduction:

The increasing consumption of nutraceutical supplements also accelerates market growth for nutraceutical ingredients in the forecast period. Furthermore, the demand for natural nutraceutical ingredients such as ginkgo Biloba, garlic, cranberry, and ginseng extracts, such as chondroitin and glucosamine, has increased owing to the rising popularity of preventive medicines, homeopathic remedies, and self-treatment. Moreover, nutraceutical manufacturing companies have started including new ingredients in their products, such as polyphenols, plant sterols, probiotics, and fatty acids, along with traditional ingredients such as minerals, vitamins, and proteins.

Recent Development

In March 2022, Tate & Lyle acquired Quantum Hi-Tech Biological, a prebiotic dietary fiber business in China, from ChemPartner Pharmatech for a value of USD 237 million. The main aim of this strategic acquisition is to strengthen the dietary fiber market of Tate & Lyle in Asia and China.

In February 2022, Fytexia Group was acquired by ABF Ingredients, a subsidiary of Associated British Foods. Pyrexia Group is a developer of active ingredients for various dietary supplements. The main aim of this acquisition was to expand ABFI's product portfolio in the pharmaceutical, nutritional, and food sectors.

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Market Dynamics:

Drivers:

Increasing incidences of chronic diseases- The increasing incidences of chronic diseases such as diabetes, blood pressure, obesity, and cardiovascular diseases and the deaths due to diabetes and respiratory diseases drive the market's growth. This has increased awareness among consumers about having a healthy diet. It is a clear fact that there is an excellent link between food and health. And once the eating pattern improves, health starts falling in place. So, consumers are looking for options that provide the right combination of taste and nutrition. This increases the demand for nutraceutical ingredients as they are healthier alternatives and offer specific functionalities.

Restraints:

High cost- Nutraceutical ingredients are rare to find and are used in various applications, such as animal nutrition, pharmaceuticals, functional food & beverages, and personal care products. However, the inclusion of nutraceutical ingredients in pharmaceuticals, feed products, food & beverage products, and personal care products increases the price of the final products. This increased price of the final products hampers the market's growth as most consumers refrain from buying expensive food products and prefer having natural ones.

Opportunities:

New advanced technologies- Most nutraceutical ingredient manufacturers are adopting personalized healthcare technologies to formulate customized and better-suited end products for consumers. Furthermore, the companies operating in consumer products are increasingly collecting data for proper analysis of consumers' lifestyles and purchasing behavior to help provide tailored options per their needs and requirements. Using the latest technologies for studying consumer behavior towards food and lifestyle is expected to offer growth opportunities for the market over the forecast period.

Challenges:

Consumer skepticism towards new products- Even though consumers are aware of better dietary choices and increasing health awareness, consumers remain skeptical about using nutraceutical products. Apart from this, many consumers are aware of their manufacturing, including synthetic sourcing and unsubstantiated health claims, which refrains consumers from using these products. This is expected to challenge the market's growth over the forecast period. Furthermore, manufacturers' various health claims for marketing and selling purposes do not result in successful fruition, making consumer skepticism toward these products challenging the market's growth.

Segmentation analysis:

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global nutraceutical ingredients market, with a 35.92% market revenue share in 2021.

The Asia Pacific currently dominates the nutraceutical ingredients market due to changing dietary patterns, changing lifestyles, and growing awareness about nutrition. Furthermore, the demand for better and healthy food items with multiple nutrients, such as vitamins and minerals, is expected to increase the demand for nutraceutical ingredients in the region. Consumers in this region are increasingly spending on better food supplements and fortified products, which increasingly helped manufacturers of nutraceutical ingredients to find growth opportunities for the market. North America is expected to grow the fastest during the forecast period, owing to the increasing need to enhance nutritional content in food & beverages. Furthermore, the rising demand for functional food ingredients in the region is also expected to propel the market's growth.

Asia Pacific Region Nutraceutical Ingredients Market Share in 2021 - 35.92%

 

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Product type segment analysis

The product type segment is divided into proteins, probiotics, phytochemicals & plant extracts, amino acids, and fibers & specialty carbohydrates. The probiotic segment dominated the market, with a market share of around 29% in 2021. Consumers are increasingly consuming probiotic ingredients with several health benefits and nutritional applications. Furthermore, they have positive effects on the health of humans. Owing to this, probiotic ingredients are increasingly being used in various applications such as beverages, dietary supplements, functional food, and animal nutritional industries.

Application segment analysis

The application segment is divided into food, beverages, animal nutrition, and dietary supplements. Over the forecast period, the dietary supplements segment is expected to grow at the fastest CAGR of 8.8%. The demand for dietary supplements has been increasing owing to the several health benefits offered by them, such as increased absorption of calcium and bone density improvement, improvement of gut microflora balance, control of blood sugar, improvement of intestinal functions such as regularity and bulking, enhancement of immune functions, reduction in the release of toxins that can cause fatty liver and other diseases, decreased risk of cardiovascular diseases, possible removal of the risk of obesity & metabolic syndrome, and improvement in bloating, abdominal pain, and constipation.

Form segment analysis

The form segment is divided into dry and liquid. In 2021, the dry segment dominated the market, accounting for around 55% of global revenue. Most nutraceutical ingredients are in dry forms, such as vitamins, proteins, prebiotic & probiotic premixes, amino acids, and some minerals such as folic acid and zinc. These nutraceutical ingredients are extracted from several sources in dry form. For instance, vitamin C is extracted from the acerola plant, and amino acids and fiber are extracted from the hemp plant. Furthermore, the dry form of nutraceutical ingredients helps preserve the color and flavor of food & beverage products and is easy to handle and store. The dry form of nutraceutical ingredients is available in capsule or tablet form for dietary supplements.

Some of the Key Market Players:

  • Archer Daniels Midland Company (ADM)
  • BASF
  • Arla Foods
  • Roquette Freres
  • Cargill
  • DSM
  • Ingredion
  • Tate & Lyle PLC
  • Ingredion Incorporated
  • Ajinomoto Co., Inc.
Attribute Description
Market Size Revenue (USD Billion), Volume (Kg)
Market size value in 2021 USD 163.8 billion
Market size value in 2030 USD 308.8 billion
CAGR (2022 to 2030) 7.3%
Historical data 2019-2020 (Customizable to 2015 - 2018)
Base Year 2021
Forecast 2022-2030
Segments Product Type, Application, By Form, End-Use
Regional Segments Region includes Europe, Asia Pacific, North America, South America, and Middle East & Africa.

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 Application
          4.3.3. Market Attractiveness Analysis By Form
          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. Increasing incidences of chronic diseases
    5.3. Restraints
          5.3.1. High cost
    5.4. Opportunities
          5.4.1. New advanced technologies
    5.5. Challenges
          5.5.1. Consumer skepticism towards new products



6. Global Nutraceutical ingredients Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Proteins
    6.3. Probiotics
    6.4. Phytochemicals & Plant Extracts
    6.5. Amino Acids
    6.6. Fibers & Specialty Carbohydrates

7. Global Nutraceutical ingredients Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Food
    7.3. Beverages
    7.4. Animal Nutrition
    7.5. Dietary Supplements

8. Global Nutraceutical ingredients Market Analysis and Forecast, By Form
    8.1. Segment Overview
    8.2. Dry
    8.3. Liquid

9. Global Nutraceutical ingredients 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 Nutraceutical ingredients Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Nutraceutical ingredients Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Archer Daniels Midland Company (ADM)
          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. BASF
          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. Arla Foods
          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. Roquette Freres
          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. Cargill
          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. DSM
          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. Ingredion
          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. Tate & Lyle PLC
          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. Ingredion Incorporated
          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. Ajinomoto Co., Inc.
          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 Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Proteins Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion) 

3. Global Probiotics Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

4. Global Phytochemicals & Plant Extracts Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

5. Global Amino Acids Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

6. Global Fibers & Specialty Carbohydrates Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

7. Global Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

8. Global Food Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion) 

9. Global Beverages Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

10. Global Animal Nutrition Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

11. Global Dietary Supplements Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

12. Global Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

13. Global Dry Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion) 

14. Global Liquid Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

15. Global  Nutraceutical Ingredients Market, By Region, 2019-2030 (USD Billion)

16. North America Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

17. North America Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

18. North America Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

19. U.S. Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

20. U.S. Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

21. U.S. Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

22. Canada Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

23. Canada Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

24. Canada Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

25. Mexico Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

26. Mexico Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

27. Mexico Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

28. Europe Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

29. Europe Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

30. Europe Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

31. Germany Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

32. Germany Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

33. Germany Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

34. France Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

35. France Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

36. France Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

37. U.K. Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

38. U.K. Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

39. U.K. Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

40. Italy Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

41. Italy Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

42. Italy Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

43. Spain Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

44. Spain Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

45. Spain Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

46. Asia Pacific Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

47. Asia Pacific Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

48. Asia Pacific Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

49. Japan Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

50. Japan Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

51. Japan Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

52. China Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

53. China Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

54. China Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

55. India Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

56. India  Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

57. India Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

58. South America Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

59. South America Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

60. South America Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

61. Brazil Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

62. Brazil Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

63. Brazil Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

64. The Middle East and Africa Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

65. The Middle East and Africa Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

66. The Middle East and Africa Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

67. UAE Nutraceutical Ingredients Market, By Product Type, 2019-2030 (USD Billion) 

68. UAE Nutraceutical Ingredients Market, By Application, 2019-2030 (USD Billion) 

69. UAE Nutraceutical Ingredients Market, By Form, 2019-2030 (USD Billion) 

70. South Africa Nutraceutical ingredients Market, By Product Type, 2019-2030 (USD Billion) 

71. South Africa Nutraceutical ingredients Market, By Application, 2019-2030 (USD Billion) 

72. South Africa Nutraceutical ingredients Market, By Form, 2019-2030 (USD Billion) 

List of Figures 

1. Global Nutraceutical ingredients Market Segmentation

2. Nutraceutical ingredients 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 Nutraceutical Ingredients Market Attractiveness Analysis By Product Type

9. Global Nutraceutical Ingredients Market Attractiveness Analysis By Application

10. Global Nutraceutical Ingredients Market Attractiveness Analysis By Form

11. Global Nutraceutical Ingredients Market Attractiveness Analysis By Region

12. Global Nutraceutical Ingredients Market: Dynamics

13. Global Nutraceutical Ingredients Market Share by Product Type (2022 & 2030)

14. Global Nutraceutical Ingredients Market Share By Application (2022 & 2030)

15. Global Nutraceutical Ingredients Market Share by Form (2022 & 2030)

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

17. Global Nutraceutical Ingredients Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global nutraceutical ingredients market based on the below-mentioned segments:

Global Nutraceutical Ingredients Market by Product Type: 

  • Proteins
  • Probiotics
  • Phytochemicals & Plant Extracts
  • Amino Acids
  • Fibers & Specialty Carbohydrates

Global Nutraceutical Ingredients Market by Application:

  • Food
  • Beverages
  • Animal Nutrition
  • Dietary Supplements

Global Nutraceutical Ingredients Market by Form:

  • Dry
  • Liquid

Global Nutraceutical Ingredients 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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