Pet Grooming Market

Pet Grooming Market Size by Product Type (Conditioners & Shampoos, Scissors & Clippers, Combs & Brushes), Distribution Channel (Online, Offline), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12538
  • Published Date: Oct, 2021
  • Pages: 239
  • Category: Healthcare
  • Format: PDF
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Global pet grooming market is expected to reach USD 14.00 billion by 2028, at a CAGR of 5.81% from 2021 to 2028. The global demand for pet grooming is rising at a steady pace attributable to the accessibility of frequent mobile pet groomers who carry out pet grooming services in compliance with pet owners' convenience. Due to the affordability and accessibility of mobile groomer services the pet grooming market is expanding rapidly. The method is effective and time-saving, proving to be suitable for pet owners and pets, removing the need to wait in long lines. Compared to grooming salons, the procedure is cheaper and is expected to fuel the demand for pet grooming over the projected period.

Market Overview:

Pet grooming is for maintaining animals' health and well being. Basic pet grooming tools include combs & brushes, bathing shampoos & conditioners, nail clipping and trimming clippers & scissors. Other items include massage oils that relax the dogs andtooth paste for brushing the teeth.Grooming is an important part in the well-being and healthiness of a pet, which can improve its quality of life. Regular grooming helps to ensure that the pet is healthy and comfortable. The main reasons for daily grooming include: general cleanliness of the pet, decreased chance of various health problems, monitoring of the pet's health by checking for cuts, swelling, or changes in temperament, all of which could be indicative of illness and forging of a closer bond between pet and owner. Pet groomer duties involve bathing, conditioning and drying pets, detanglingand dematting hair when required, styling and grooming pets in accordance with instructions from pet owners or regular grooming styles, trimming pets' nails, accommodating specific requirements that pet owners might have, cleaning their earsand brushing their teeth, recognizing health issues in pets, such as ear infections, informing pet owners about these findings and focus on ensuring that pets are safe in the grooming period, regularly inspecting work environments and recommending suitable items to pet owners. Consumers are increasingly looking for natural or organic pet grooming products, including shampoo and sprays. Deodorants, dog sunscreen and other cosmetics are becoming extremely popular among pet owners.

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Market Dynamics:

Drivers:
  • High rate of pet adoption and increasing animal health spending

The pet industry has expanded rapidly with several countries seeing high pet adoption rates and rising the spending on animal health. Consumers focus more on their companion animals’ health as they consider them as their family member and are therefore willing to invest in maintaining their health. This situation has contributed to a rise in the expenditure on health and grooming for companion animals, thus, boosting the growth of the pet grooming market.

  • Increasing popularity of mobile pet grooming services

Mobile pet grooming services are becoming common around the globe, with specifically equipped vehicles traveling to the pet owner's home delivering a wide spectrum of services at the doorstep. This removes the need wait for pet grooming service in long queues. Consequently, all of these aspects contribute significantly to the growth of the global pet grooming market.

Restraints:
  • Lack of knowledge

Lack of knowledge and experience to handle multiple pets, breeds, and animal temperaments may restrain the market growth. While some dogs are highly trained and will do well with grooming, others will resist, meaning pet grooming requires highly trained people to deal with them.

Opportunities:
  • Increase in disposable income of pet owners

Increase in disposable income of pet owners is anticipated to provide huge opportunity for the growth of the global pet grooming market. Consumers are now opting for high-end accessories and a variety of pet grooming services for their pets, which further fuels the market growth.

Challenges:
  • Rise in incidence of pet allergies among caregivers

Rise in incidence of pet allergies among caregivers is a major challenge for the pet grooming market as allergies to fur-bearing pets are common, especially among people with other allergies or asthma. Across the US, as many as three out of ten individuals with allergies had allergic reactions to dogs and cats. Cat allergies are about twice as common as dog allergies.

Segmentation Analysis:

The global pet grooming market has been segmented based on product type, form, distribution channel, and regions.

  • The product type segment is divided intoscissors and clippers, conditioners and shampoos, and combs and brushes. The conditioners and shampoos segment held the major market share of around 46.20% in 2020.This was attributed to the pet owners purchasing different types of shampoos and conditioners for allergy prevention, colour enhancement, odor reduction, natural oils protection, and coat care among others. Growing demand for safe and healthy goods is projected to boost the segment of conditioners and shampoos over the forecast period.
  • The distribution channel segment includes online and offline distribution channel. The online distribution channel segment dominates the market and valued around USD 6.34 billion in 2020 due to the rise in penetration of smartphones& internet and advancement in the e-commerce industry.
Regional Segmentation Analysis:

The regions evaluated for the pet grooming market include Europe, North America, South America, Asia Pacific, and the Middle East and Africa.The North America region emerged as the largest market for the pet grooming market with around 40% share of the market revenue in 2020.

  • It was attributed to the high pet care expenditure and adoption in the U.S. The nation owns the world's highest number of companion animals. In Canada, at least one dog is owned by about 41 per cent of households and about 38 per cent possess at least one cat. Increasing domestic companion animal adoption in these countries is leading to increasing demand for different pet grooming items.
  • The Asia Pacific region is anticipated to grow at a considerable growth rate in the global pet grooming market over the forecast period. Japan and China are amongst the main markets leading to regional growth. Rapid urbanization has been a major factor driving consumer adoption of companion animals in this region.

North America Pet Grooming Market Share in 2020- 40%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies like adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global pet grooming industry.

In November, 2019, leading pet food manufacturer Pets Choice declared the purchase of the Bob Martin Healthcare Factory, Goodwill and Assetsafter the administration of Bob Martin (UK) Ltd on 26 November 2019.

List of Key Market Players:

  • Ancol
  • Beaphar
  • Bob Martin
  • BOSHEL
  • earthbath
  • Ferplast
  • Hartz Mountain
  • Johnson's Veterinary Products
  • Just for Pets
  • Oster
  • Rolf C Hagen
  • Rosewood Pet Products

Key Target Audience

  • Pet Grooming Product Manufacturers
  • Pet Owners
  • Traders and Distributors of Pet Grooming Products
  • Raw Material Suppliers
  • Potential Investors
  • Research and Consulting Firms

Report Description:

  • Global Pet Grooming Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global pet grooming market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global pet grooming 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 with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of pet grooming and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future 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 global pet grooming market.  This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global pet grooming 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 so as to provide business related data and information’s. 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 growth and development in order 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 acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global pet grooming market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the pet grooming market was valued at USD 8.73 billion in 2020 and is anticipated to reach USD 14.00 billion by 2028.

Global pet grooming market is growing at a CAGR of 5.81% during the forecast period 2021-2028.

The global pet grooming market has been segmented based on product type, form, distribution channel, and regions. The conditioners and shampoos held the major market share in 2020. The offline distribution channel segment dominates the market.

The North America region emerged as the largest market for the pet grooming.

High rate of pet adoption and increasing animal health spending is the key driving factor for the pet grooming market.

Lack of knowledge hamper the market growth.

Increase in disposable income of pet owners will going to be a huge opportunities to the market.

Key players are Ancol, Beaphar, Bob Martin, BOSHEL, earthbath, Ferplast, Hartz Mountain, Johnson's Veterinary Products

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. High rate of pet adoption and increasing animal health spendingand grooming expenditure for companion animals.
          5.2.2. Increasing popularity of mobile pet grooming services
    5.3. Restrains
          5.3.1. Lack of knowledge
    5.4. Opportunities
          5.4.1. Increase in disposable income of pet owners

6. Global Pet Grooming Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Conditioners & Shampoos
    6.3. Scissors & Clippers
    6.4. Combs & Brushes

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

8. Global Pet Grooming 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 Pet Grooming Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in GlobalPet Grooming 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. Ancol
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Beaphar
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Bob Martin
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. BOSHEL
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. earthbath
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Ferplast
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Hartz Mountain
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Johnson's Veterinary Products
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Just for Pets
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Oster
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Rolf C Hagen
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Rosewood Pet Products
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis

List of Table

1. Global Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

2. Global Conditioners & Shampoos, Pet Grooming Market, By Region, 2018–2028 (USD Billion)

3. Global Scissors & Clippers, Pet Grooming Market, By Region, 2018–2028 (USD Billion)

4. Global Combs & Brushes, Pet Grooming  Market, By Region, 2018–2028 (USD Billion)

5. Global Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

6. Global Online Pet Grooming Market, By Region, 2018–2028 (USD Billion)

7. Global Offline Pet Grooming Market, By Region, 2018–2028 (USD Billion)

8. Global Pet Grooming Market, By Region, 2018–2028 (USD Billion)

9. Global Pet Grooming Market, By North America, 2018–2028 (USD Billion)

10. North America Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

11. North America Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

12. U.S. Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

13. U.S. Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

14. Canada Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

15. Canada Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

16. Mexico Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

17. Mexico Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

18. Europe Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

19. Europe Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

20. Germany Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

21. Germany Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

22. France Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

23. France Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

24. U.K. Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

25. U.K. Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

26. Italy Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

27. Italy Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

28. Spain Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

29. Spain Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

30. Asia Pacific Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

31. Asia Pacific Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

32. Japan Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

33. Japan Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

34. China Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

35. China Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

36. India Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

37. India Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

38. South America Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

39. South America Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

40. Brazil Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

41. Brazil Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

42. Middle East and Africa Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

43. Middle East and Africa Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

44. UAE Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

45. UAE Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

46. South Africa Pet Grooming Market, By Product Type, 2018–2028 (USD Billion)

47. South Africa Pet Grooming Market, By Distribution Channel , 2018–2028 (USD Billion)

List of Figures 

1. Global Pet Grooming Market Segmentation

2. Pet Grooming 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 Pet Grooming Market Attractiveness Analysis By Product Type

9. Global Pet Grooming Market Attractiveness Analysis By Distribution Channel 

10. Global Pet Grooming Market Attractiveness Analysis By Region

11. Global Pet Grooming Market: Dynamics

12. Global Pet Grooming Market Share By Product Type (2021&2028)

13. Global Pet Grooming Market Share By Distribution Channel  (2021&2028)

14. Global Pet Grooming Market Share by Regions (2021&2028)

15. Global Pet Grooming Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global pet grooming market on the basis of below mentioned segments:

Global Pet Grooming Market by Product Type:

  • Conditioners and Shampoos
  • Scissors and Clippers
  • Combs and Brushes

Global Pet Grooming Market by Distribution Channel:

  • Online
  • Offline

Global Pet Grooming 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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