Vegan Cheese Market

Vegan Cheese Market Size by Source (Soy, Cashew, Almond, Coconut, Others), By Product (Cheddar, Parmesan, Cream Cheese, Mozzarella, Ricotta, Others), By End-use (B2B, B2C) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13587
  • Published Date: Jul, 2023
  • Pages: 236
  • Category: Food & Beverages
  • Format: PDF
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The global vegan cheese market was valued at USD 2.7 billion in 2022 and grew at a CAGR of 12.8% from 2023 to 2032. The market is expected to reach USD 9.1 billion by 2032. The market is growing as veganism, particularly among millennials, becomes more and more well-liked. Due to growing public awareness of animal cruelty and the damaging effects the dairy industry has on the environment, consumers are being encouraged to prefer plant-based products. The demand for vegan food products has significantly increased throughout this time. For instance, in the United States, the commerce in plant-based meals went from USD 5.0 billion in 2019 to USD 7.0 billion in 2020. In this circumstance, it is projected that the market prospects would continue positive.

Market Introduction:

A global trend is the introduction of plant-based goods that can replace dairy products. This is related to an increase in vegans, a rise in animal welfare and health concerns, and a trend for those with dairy allergies to eat more plant-based cuisine. The same proteins, carbohydrates, and vitamins are present in vegan cheese as in dairy cheese. Additionally, vegan cheese contains a lot less fat than dairy cheese. Eating vegan cuisine benefits people's health.

Vegan Cheese Market Size

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Recent Development
  • In July 2021: In the Middle East, Upfield introduced the vegan cheese brand Violife. The product line is a dairy replacement that is allergen-free and comes in slices, boxes, and grated forms in two tastes, such as cheddar and mozzarella.
  • In March 2020: A range of vegan cream cheeses produced with cultured cashew nuts and other plant-based components was introduced by Treeline Cheese. Three tastes are offered: basic, chive and onion, and strawberry.

Market Dynamics:

Drivers

Many people are looking for cruelty-free substitutes because they have concerns about how animals are treated in the dairy business. For individuals who prefer to stay away from supporting animal abuse, vegan cheese, which is composed completely of plant-based components, offers an ethical option. Additionally, growing knowledge of the advantages of plant-based diets for health has affected consumer decisions. Vegan cheese is a desirable alternative for people who care about their health since it is frequently lower in saturated fats, cholesterol-free, and lactose-free than typical dairy cheese.

Restraints:

Due to the higher expense of plant-based components and manufacturing techniques, vegan cheese, particularly artisanal or specialized types, can be more costly than dairy cheese. For certain users, the availability and affordability of vegan cheese may be constrained by higher price points.  Compared to regular cheese, certain vegan cheese items may have a shorter duration of shelf life, which could impact distribution and availability. To assure freshness and reduce waste, this restriction could force manufacturers and merchants to establish effective supply chain management.

Opportunities:

There is room to increase the selection of vegan cheese items on the market. To accommodate a range of consumer tastes, manufacturers might develop new tastes, textures, and forms. This involves creating aged cheeses, spreadable cheeses, artisanal variants, and cheese substitutes made particularly for melting or grating.

Regional segmentation analysis:

Europe led the market in 2022 with the largest market share of 36.1%. Customers are increasingly choosing more ecologically friendly and vegan items as a result of growing awareness of animal cruelty and the region's rising carbon footprint caused by the use of foods produced from animals, such as milk, honey, eggs, cattle, pig, and seafood.

Europe Vegan Cheese Market Share in 2022 - 36.1%

 

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Source Segment Analysis

The cashew segment dominated the global market in 2022 with a market share of 37.2% and throughout the predicted period, is anticipated to keep up its leading position. Vegan cheese made from cashews is low in fat and includes vitamins B2 and B12. This makes it popular with people that care about their health all around the world. Due to its health advantages, free of gluten and free of cholesterol cashew products are also becoming increasingly popular.

Product Segment Analysis

The mozzarella segment held a significant market share of 31.6% in 2022. Pizza toppings commonly include mozzarella cheese, and the increasing demand for vegan pizzas has driven the expansion of the vegan mozzarella market. Excellent vegan mozzarella cheese which melts stretches and imparts the same taste and texture as regular mozzarella is excellent potential as more customers look for plant-based alternatives. Adding vital elements like calcium and vitamin B12 to vegan mozzarella alternatives might boost their nutritional value and draw in health-conscious customers. A selling pitch for this market might be emphasizing the nutritional advantages of vegan mozzarella, such as its reduced amount of saturated fat and lack of cholesterol.

End-use Segment Analysis

 The B2C segment held a significant market share of 52.3% in 2022. The market for plant-based products in the B2C market has grown as a result of factors such as rising consumer disposable income levels and their desire to spend on high-end goods. The simple availability of products in convenience stores and supermarkets has also aided in this segment's expansion.

Some of the Key Market Players:
  • Dr-Cow Tree Nut Cheese
  • Tofutti Brands, Inc.
  • Tyne Cheese Limited
  • Miyoko's Creamery
  • Parmela Creamery
  • Treeline Cheese
  • Follow Your Heart
  • Daiya Foods Inc.
  • Kite Hill
  • Violife

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 2.7 Billion
Market size value in 2032 USD 9.1 Billion
CAGR (2023 to 2032) 12.8%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Source, Product, End-use

Frequesntly Asked Questions

As per The Brainy Insights, the size of the vegan cheese market was valued at USD 2.7 billion in 2022 to USD 9.1 billion by 2032.

The global vegan cheese market is growing at a CAGR of 12.8% during the forecast period 2023-2032.

The Europe region emerged as the largest market for the vegan cheese.

Rise in concerns regarding animal cruelty will influence the market's growth.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Source
          4.3.2. Market Attractiveness Analysis by Product
          4.3.3. Market Attractiveness Analysis by End-Use
          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. Rise in concerns regarding animal cruelty
    5.3. Restraints
          5.3.1. High cost of the Vegan Cheese
    5.4. Opportunities
          5.4.1. Product development
    5.5. Challenges
          5.5.1. Issues with supply chain

6. Global Vegan Cheese Market Analysis and Forecast, By Source
    6.1. Segment Overview
    6.2. Soy
    6.3. Cashew
    6.4. Almond
    6.5. Coconut
    6.6. Others

7. Global Vegan Cheese Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Cheddar
    7.3. Parmesan
    7.4. Cream Cheese
    7.5. Mozzarella
    7.6. Ricotta
    7.7. Others

8. Global Vegan Cheese Market Analysis and Forecast, By End-Use
    8.1. Segment Overview
    8.2. B2B
    8.3. B2C

9. Global Vegan Cheese 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 Vegan Cheese Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Vegan Cheese Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Dr-Cow Tree Nut Cheese
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Tofutti Brands, Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Tyne Cheese Limited
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Miyoko's Creamery
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Parmela Creamery
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Parmela Creamery
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Follow Your Heart
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Daiya Foods Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Kite Hill
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Violife
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

2. Global Soy, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

3. Global Cashew, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

4. Global Almond, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

5. Global Coconut, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

6. Global Others, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

7. Global Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

8. Global Cheddar, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

9. Global Parmesan, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

10. Global Cream Cheese, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

11. Global Mozzarella, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

12. Global Ricotta, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

13. Global Others, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

14. Global Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

15. Global B2B, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

16. Global B2C, Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

17. Global Vegan Cheese Market, By Region, 2019-2032 (USD Billion) 

18. North America Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

19. North America Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

20. North America Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

21. U.S. Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

22. U.S. Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

23. U.S. Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

24. Canada Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

25. Canada Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

26. Canada Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

27. Mexico Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

28. Mexico Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

29. Mexico Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

30. Europe Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

31. Europe Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

32. Europe Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

33. Germany Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

34. Germany Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

35. Germany Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

36. France Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

37. France Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

38. France Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

39. U.K. Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

40. U.K. Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

41. U.K. Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

42. Italy Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

43. Italy Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

44. Italy Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

45. Spain Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

46. Spain Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

47. Spain Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

48. Asia Pacific Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

49. Asia Pacific Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

50. Asia Pacific Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

51. Japan Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

52. Japan Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

53. Japan Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

54. China Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

55. China Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

56. China Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

57. India Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

58. India Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

59. India Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

60. South America Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

61. South America Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

62. South America Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

63. Brazil Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

64. Brazil Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

65. Brazil Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

66. Middle East and Africa Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

67. Middle East and Africa Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

68. Middle East and Africa Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

69. UAE Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

70. UAE Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

71. UAE Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

72. South Africa Vegan Cheese Market, By Source, 2019-2032 (USD Billion) 

73. South Africa Vegan Cheese Market, By Product, 2019-2032 (USD Billion) 

74. South Africa Vegan Cheese Market, By End-Use, 2019-2032 (USD Billion) 

List of Figures 

1. Global Vegan Cheese Market Segmentation

2. Vegan Cheese 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 Vegan Cheese Market Attractiveness Analysis by Source

9. Global Vegan Cheese Market Attractiveness Analysis by Product

10. Global Vegan Cheese Market Attractiveness Analysis by End-Use

11. Global Vegan Cheese Market Attractiveness Analysis by Region

12. Global Vegan Cheese Market: Dynamics

13. Global Vegan Cheese Market Share by Source (2022 & 2032)

14. Global Vegan Cheese Market Share by Product (2022 & 2032)

15. Global Vegan Cheese Market Share by End-Use (2022 & 2032)

16. Global Vegan Cheese Market Share by Regions (2022 & 2032)

17. Global Vegan Cheese Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global vegan cheese market based on below-mentioned segments:

Global Vegan Cheese Market by Source:

  • Soy
  • Cashew
  • Almond
  • Coconut
  • Others

Global Vegan Cheese Market by Product:

  • Cheddar
  • Parmesan
  • Cream Cheese
  • Mozzarella
  • Ricotta
  • Others

Global Vegan Cheese Market by End-Use:

  • B2B
  • B2C

Global Vegan Cheese 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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