Nutricosmetics Market

Global Nutricosmetics Market Size By Product Type (Vitamins, Omega 3 fatty acids, Carotenoids, and Others), Distribution Channel (Online, Offline), Application (Skincare, Personal Care, Weight Management, Haircare, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12805
  • Published Date: Jun, 2022
  • Pages: 135
  • Category: Food & Beverages
  • Format: PDF
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The global nutricosmetics market is expected to reach USD 13.4 billion by 2030, at a CAGR of 7.9% from 2022 to 2030. The demand for nutricosmetics has grown due to an increasing preference of consumers toward natural alternatives to beauty and skin health. These days, the aging population spends billions of dollars to improve overall well-being and retain a youthful appearance, driving the market's growth during the forecast period.

Market Overview:

Nutricosmetics are functional food and dietary supplements taken orally by consumers that provide beauty benefits. They act as nutritional supplements to care for nails, skin, and hair to provide natural beauty. Nutricosmetics are manufactured using the combination of various nutrients that support the skin's structure and function without side effects. Different vitamins like Vitamin C, A, and E, along with collagen, proteins, minerals, peptides, carotenes, and omega-3 fatty acids, are used in making nutricosmetics that act as antioxidants and help reduce the influence of the free radicals on the skin. These nutrient-based products benefit collagen production and protect the skin from the sun's ultraviolet rays. The growing popularity of healthy aging, and awareness, especially among women, is increasing the demand in the nutricosmetics market. Various research and developments are being conducted to utilize the organic nutrients in beauty products. The manufacturers make high investments in various research-related projects to accelerate nutricosmetics growth. The growth in health awareness, the growing elderly population's demand for cosmetic assistance, the need for organic products, and changes in customer preferences are expected to accelerate the market growth.

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Market Dynamics:

Drivers:
  • Costumers' inclination towards natural products

Nowadays, consumers are more inclined to use natural products for skin care and good health than synthetic formulations. Leading cosmetic brands are increasingly using herbal products for manufacturing cosmetics and dietary supplements, which drives the growth of the nutricosmetics market. The ingredients used in nutricosmetic products are obtained naturally and are suitable for health and skin. The growing aging population is very conscious about their looks and appearance and wants to improve their lifestyle to look younger. Consumers are becoming more aware of the connection between health and diet, including appearances that propel the market's growth.

Restraints:
  • Less awareness

Many underdeveloped countries are unaware of the advantages of these nutricosmetics products and are unaware of their availability in the market. The positive side of the market is yet to be accepted by a large population. People are still unaware of the health benefits of these products. Various complexities in legislative and regulatory, and other technical aspects are hindering the growth of the nutricosmetics market. Another restraining factor is the lack of distinctions among multiple products based on nutraceuticals used in different regions.

Opportunities:
  • Increasing demand in the healthcare sector

Women's increasing demand for nutricosmetics for their facial beauty, skin, and hair significantly influences the market. Vitamin A, Vitamin D, and Omega-3 are essential for skin care. The combination of health and beauty is rapidly evolving, and hence the concept of beauty-from-within appears. People these days are widely facing skin-related issues such as wrinkles, hair loss, and scalp problems associated with the deficiency of various nutrients, so they prefer to move towards some preventive healthcare management measures. All these factors provide opportunities for the growth of the nutricosmetics market.

Challenges:
  • Lack of innovations

Various cosmetics companies are struggling in terms of innovations. They face difficulties in packaging material, product forms, and ingredients. After the outbreak of the Covid-19 pandemic, nutricosmetic companies are facing huge losses because of the market shutdown. They also ran out of stock during the outbreak of Covid-19. All these factors challenge the growth of the nutricosmetics market.

Segmentation Analysis:

The global nutricosmetics market has been segmented based on product type, distribution channel, application, and regions.

  • The product type segment comprises vitamins, omega 3 fatty acids, carotenoids, and others. The carotenoids segment dominated the market, with a market share of around 36% in 2021. Carotenoids have antioxidant properties, which benefit hair, skin, and overall health, propelling the segment's growth.
  • The distribution channel segment is divided into online and offline. Over the forecast period, the online distribution channel segment is expected to grow at the fastest CAGR of 8.8%. The increasing penetration of the internet is driving the growth of the segment. The sale of nutricosmetics is rapidly increasing through online retailers such as Amazon and Flipkart, adding to the segment's growth.
  • The application segment is divided into skin care, personal care, weight management, and haircare. In 2021, the skin care segment dominated the market, accounting for around 33% of global revenue. Increasing demand for skin care products due to the increasing elderly population and rising skin issues such as sagging, wrinkles, and tanning drive the segment's growth.
Regional Segmentation Analysis:

The regions analyzed for the nutricosmetics market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe emerged as the largest market for the global nutricosmetics market, with a 42% share of the market revenue in 2021.

The Europe region currently dominates the nutricosmetics market with a 42% share of the market revenue in 2021. The demand for nutricosmetics in Europe has been growing owing to the higher penetration of nutricosmetics products in the European market and rising product launches in some major countries of Europe. Furthermore, the rising elderly population in the region also propels the growth of the market in the region.

Europe region Nutricosmetics Market Share in 2021 - 42%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global nutricosmetics market.

List of Key Market Players:

  • Cargill
  • Incorporated
  • DuPont
  • Nestle
  • L'Oreal International
  • Skinside AG
  • Croda International Plc
  • Pfizer Inc.
  • Ashland
  • Vitabiotics Ltd

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Nutricosmetics 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 the historic years and 2022 to 2030 are the forecast years. The global nutricosmetics 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 nutricosmetics 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 nutricosmetics based on product type, distribution channel, application, 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, and key developments, along with the crucial strategies adopted by key organizations catering to the global nutricosmetics market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study of the company profiles of key organizations operating in the global nutricosmetics market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & amp; 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 porter's five forces analysis coupled with SWOT analysis to provide business-related data and information. 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 influence 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 nutricosmetics 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 nutricosmetics market was valued at USD 6.8 billion in 2021 to USD 13.4 billion by 2030.

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

The global nutricosmetics market has been segmented based on product type, distribution channel, application, and regions. The carotenoids segment led the market in 2021.

The Europe region emerged as the largest market for Nutricosmetics.

The market's growth will be influenced by the customers' inclination toward natural products.

A lack of innovations could hamper market growth.

Increasing demand in the healthcare sector will provide huge opportunities to the market.

Key players are Cargill, Incorporated, DuPont, Nestle, L’Oreal International, Skinside AG, Croda International Plc, Pfizer Inc., Ashland, and Vitabiotics Ltd

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product Type
          4.3.2. Market Attractiveness Analysis By Distribution Channel
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Costumers' inclination towards natural products
    5.3. Restraints
          5.3.1. Less awareness
    5.4. Opportunities
          5.4.1. Increasing demand in the healthcare sector
    5.5. Challenges
          5.5.1. Lack of innovations

6. Global Nutricosmetics Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Vitamins
    6.3. Omega 3 fatty acids
    6.4. Carotenoids
    6.5. Others

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

8. Global Nutricosmetics Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Skincare
    8.3. Personal care
    8.4. Weight Management
    8.5. Haircare
    8.6. Others

9. Global Nutricosmetics 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 Nutricosmetics Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Nutricosmetics 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. Cargill
          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. Incorporated
          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. DuPont
          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. Nestle
          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. L’Oreal International
          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. Skinside AG
          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. Croda International Plc
          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. Pfizer Inc.
          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. Ashland
          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. Vitabiotics Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

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

2. Global Vitamins Nutricosmetics Market, By Region, 2019-2030 (USD Billion) 

3. Global Omega 3 fatty acids Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

4. Global Carotenoids Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

5. Global Others Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

6. Global Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

7. Global Online Nutricosmetics Market, By Region, 2019-2030 (USD Billion) 

8. Global Offline Nutricosmetics Market, By Region, 2019-2030 (USD Billion) 

9. Global Nutricosmetics Market, By Application, 2019-2030 (USD Billion) 

10. Global Skincare Nutricosmetics Market, By Region, 2019-2030 (USD Billion) 

11. Global Personal care Nutricosmetics Market, By Region, 2019-2030 (USD Billion) 

12. Global Weight Management Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

13. Global Haircare Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

14. Global Others Nutricosmetics Market, By Region, 2019-2030 (USD Billion)

15. North America Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

16. North America Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

18. U.S. Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

19. U.S. Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

21. Canada Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

22. Canada Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

24. Mexico Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

25. Mexico Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

27. Europe Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

28. Europe Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

30. Germany Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

31. Germany Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

33. France Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

34. France Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

36. U.K. Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

37. U.K. Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

39. Italy Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

40. Italy Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

42. Spain Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

43. Spain Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

45. Asia Pacific Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

46. Asia Pacific Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

48. Japan Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

49. Japan Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

51. China Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

52. China Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

54. India Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

55. India  Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

57. South America Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

58. South America Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

60. Brazil Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

61. Brazil Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

63. The Middle East and Africa Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

64. The Middle East and Africa Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

66. UAE Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

67. UAE Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

69. South Africa Nutricosmetics Market, By Product Type, 2019-2030 (USD Billion) 

70. South Africa Nutricosmetics Market, By Distribution Channel, 2019-2030 (USD Billion) 

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

List of Figures 

1. Global Nutricosmetics Market Segmentation

2. Nutricosmetics 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 Nutricosmetics Market Attractiveness Analysis By Product Type

9. Global Nutricosmetics Market Attractiveness Analysis By Distribution Channel

10. Global Nutricosmetics Market Attractiveness Analysis By Application

11. Global Nutricosmetics Market Attractiveness Analysis By Region

12. Global Nutricosmetics Market: Dynamics

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

14. Global Nutricosmetics Market Share by Distribution Channel (2022 & 2030)

15. Global Nutricosmetics Market Share by Application (2022 & 2030)

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

17. Global Nutricosmetics 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 nutricosmetics market based on the below-mentioned segments:

Global Nutricosmetics Market by Product Type:

  • Vitamins
  • Omega 3 fatty acids
  • Carotenoids
  • Others

Global Nutricosmetics Market by Distribution Channel:

  • Online
  • Offline

Global Nutricosmetics Market by Application:

  • Skincare
  • Personal care
  • Weight Management
  • Haircare
  • Others

Global Nutricosmetics 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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