Food Certification Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0196546
  • Format: Electronic (PDF)
  • Number of Pages: 196
  • Author(s): Joshi, Madhavi

Report Overview

The Food Certification Market size was estimated at USD 4.5 billion in 2023 and is projected to reach USD 7.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024-2030).

Food Certification Market

(Market Size)
$4.5 billion
$7.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.80%
2023 Market Size USD 4.5 billion
2030 Market Size USD 7.5 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS

Market Summary

The food certification market is a critical and expanding segment within the global food and beverages industry, dedicated to verifying that food products meet established safety, quality, and sustainability standards. This market encompasses a wide array of certification schemes administered by various international and national bodies, designed to mitigate risks, ensure regulatory compliance, and build consumer trust. The increasing incidence of food-borne illnesses and heightened consumer awareness regarding food origins and production methods are primary factors propelling market growth. Companies across the supply chain, from agricultural producers to processors and retailers, are increasingly seeking certifications to enhance their brand reputation, access new markets, and demonstrate a commitment to ethical and responsible practices. The market is characterized by a diverse range of certification types, including organic, halal, kosher, and food safety standards, each catering to specific consumer demands and regulatory environments. This sector is integral to modern food commerce, providing a framework for transparency and accountability that benefits all stakeholders.

Key Highlights

The food certification market is distinguished by several key factors that underscore its importance and dynamism. A significant highlight is the critical role of third-party auditors, whose independent validation is essential for the credibility and global acceptance of certifications. Leading organizations such as SGS SA, Intertek Group plc, and NSF International are pivotal in setting industry benchmarks. The market is also experiencing a notable shift towards digitalization, with blockchain and IoT technologies being increasingly integrated to enhance traceability and streamline the audit process, making it more efficient and tamper-proof. Furthermore, the demand for clean-label and non-GMO products is driving the adoption of corresponding certifications, as consumers actively seek these attributes on packaging. The competitive landscape is intense, with service providers continually expanding their portfolio of offered certifications and geographic reach to serve multinational food corporations, highlighting the market's response to globalization and complex supply chains.

Drivers, Opportunities & Restraints

The growth of the food certification market is fueled by a confluence of powerful drivers. Stringent government regulations and food safety laws across the globe mandate certain certifications, compelling industry compliance. Simultaneously, rising consumer consciousness about health, ethical sourcing, and environmental sustainability is creating a powerful pull from the demand side, encouraging brands to pursue certifications voluntarily to gain a competitive edge. The globalization of food supply chains further acts as a catalyst, as certifications serve as a universal language of trust and quality, facilitating international trade. Significant opportunities lie in the untapped potential of emerging economies, where growing middle-class populations are becoming more quality-conscious. The expansion of certification schemes into new areas, such as plant-based products and carbon-neutral claims, also presents fertile ground for market development. However, the market faces restraints including the high cost and complexity of obtaining and maintaining certifications, which can be prohibitive for small and medium-sized enterprises. Additionally, a lack of harmonization between different national and private standards can create confusion and increase the compliance burden for global operators.

Concentration Insights

The global food certification market exhibits a concentration of activity and value in specific geographic and industrial segments. Developed regions, particularly North America and Europe, represent a high concentration of demand due to their well-established regulatory frameworks and highly discerning consumer bases with significant purchasing power. These regions are home to the headquarters of many leading certification bodies and a large number of multinational food corporations that require extensive certification services. In terms of industry verticals, concentration is notably high in segments such as meat and poultry, dairy products, and infant food, where safety concerns are paramount and regulatory scrutiny is most intense. The market is also seeing growing concentration in the organic and sustainable product categories. While the market features several large, multinational players, there is also a presence of numerous regional and local certification agencies that cater to specific domestic standards and smaller producers, creating a layered competitive environment.

Type Insights

The food certification landscape is diverse, comprising several key types that cater to different aspects of food production and consumer preferences. ISO 22000 and FSSC 22000 are globally recognized food safety management system certifications that are often prerequisites for supplying major retailers and exporters. Organic certification is another major category, verifying that products are grown and processed without synthetic pesticides, fertilizers, or GMOs, a segment experiencing robust demand. Halal and Kosher certifications are essential for accessing specific religious consumer markets and have significant global economic influence. Certifications like Non-GMO Project Verified directly address consumer concerns about genetic modification. Furthermore, sustainability certifications such as Rainforest Alliance and Fair Trade are gaining prominence, focusing on environmental stewardship and ethical labor practices throughout the supply chain. Each certification type involves a rigorous process of documentation, audits, and ongoing surveillance to ensure continuous compliance.

Application Insights

Food certification applications span the entire breadth of the food and beverage industry, ensuring integrity from farm to fork. A primary application is in the realm of food safety for processed and packaged foods, including ready-to-eat meals, canned goods, and baked products, where hazards must be controlled. The meat and seafood industry is a critical application area due to its high risk of contamination; certifications here are vital for preventing foodborne illnesses and ensuring animal welfare standards. The dairy industry relies heavily on certifications to guarantee product purity and safety from pathogens. Furthermore, the application extends to beverages, including juices, alcoholic drinks, and bottled water, requiring verification of content and quality. The rapidly growing segments of health foods, dietary supplements, and infant formula represent highly sensitive application areas where certifications are not just a market differentiator but often a regulatory requirement to assure parents and health-conscious consumers of product safety and nutritional claims.

Regional Insights

The adoption and emphasis of food certification vary significantly across different global regions, influenced by economic development, cultural norms, and regulatory maturity. North America and Europe are mature markets characterized by stringent regulatory environments, high consumer awareness, and a strong presence of major certification bodies. These regions often set global standards that are adopted elsewhere. The Asia-Pacific region is identified as the fastest-growing market, driven by rising disposable incomes, increasing health consciousness, and the implementation of stronger food safety laws in countries like China and India. The Middle East and Africa show strong demand particularly for religious certifications like Halal, both for domestic consumption and for export purposes. Latin America, a major agricultural exporter, has a strong focus on certifications related to organic produce, fair trade, and global food safety standards to maintain access to international markets. Each region presents a unique set of drivers and challenges for food certification providers.

Company Insights

The competitive landscape of the food certification market is composed of a mix of international giants, specialized firms, and non-profit organizations. Dominant players include SGS SA, a Swiss multinational renowned for its extensive global network and comprehensive service portfolio. Bureau Veritas SA from France and Intertek Group plc from the UK are other key multinationals offering a wide spectrum of testing, inspection, and certification services. NSF International, based in the United States, is a leading public health and safety organization with a strong focus on food and water. The market also includes prominent entities like DNV GL and Eurofins Scientific, which provide specialized certification and testing solutions. These companies compete on the basis of their accreditation, global reach, technical expertise, and reputation for integrity. Many are actively engaging in mergers and acquisitions to expand their service capabilities and geographic footprint, consolidating their positions in this essential market.

Recent Developments

The food certification market is continuously evolving, with recent developments reflecting broader technological and societal trends. A major trend is the accelerated adoption of digital tools, including remote auditing technologies and blockchain platforms, which gained significant traction during the COVID-19 pandemic to ensure business continuity and enhance supply chain transparency. There is a growing emphasis on the development of new standards and certifications addressing emerging consumer concerns, such as animal welfare, plastic neutrality, and carbon footprint labeling. Leading certification bodies are also expanding their service offerings through strategic acquisitions to provide more integrated solutions. Furthermore, there is an increased collaboration between certification providers, governments, and industry groups to harmonize standards and reduce trade barriers, simplifying the process for food producers operating in multiple international markets and responding to the demand for greater efficiency and global consistency.

Report Segmentation

This comprehensive market research report on the food certification market provides a detailed analysis segmented across multiple dimensions to offer granular insights. The segmentation by type delves into the various certification schemes, including Food Safety (ISO 22000, FSSC 22000, SQF), Organic, Halal, Kosher, and Sustainability certifications, analyzing the adoption and growth trends for each. The segmentation by application examines the demand across key industry verticals such as Meat & Poultry, Dairy Products, Infant Food, Beverages, and Processed Foods, highlighting the specific drivers and requirements in each segment. Geographically, the report provides an in-depth analysis of major regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, assessing regional market dynamics, regulatory landscapes, and growth potential. This multi-faceted segmentation allows stakeholders to identify precise opportunities, understand competitive landscapes in specific niches, and make informed strategic decisions based on robust, categorized data.

FAQs

What is the purpose of food certification?

The primary purpose of food certification is to provide independent verification that food products, processes, and management systems comply with specific standards related to safety, quality, authenticity, or sustainability. This builds trust among consumers, retailers, and regulators, facilitates market access, and helps protect brand reputation by demonstrating a commitment to defined best practices.

What are the different types of food certifications?

There are numerous types of food certifications, each serving a distinct purpose. Major categories include food safety certifications like ISO 22000 and BRCGS, organic certifications verifying natural farming practices, religious certifications such as Halal and Kosher, and sustainability certifications like Rainforest Alliance and Fair Trade that focus on environmental and social welfare.

How does a company get a food certification?

A company obtains food certification by first selecting an accredited certification body. The process typically involves an application, a thorough documentation review of their systems and processes, followed by an on-site audit conducted by qualified auditors to assess compliance with the relevant standard. If successful, the company receives certification, which is maintained through ongoing surveillance audits.

Why is food certification important for consumers?

Food certification is critically important for consumers as it provides an independent assurance of safety, quality, and ethical production practices. Certifications help consumers make informed purchasing decisions by quickly identifying products that meet their specific needs, whether related to health (organic, non-GMO), religious beliefs (Halal, Kosher), or personal values (sustainable, fair trade).

What is the difference between organic and non-GMO certification?

Organic certification is a comprehensive standard that prohibits the use of synthetic pesticides, fertilizers, antibiotics, and genetically modified organisms (GMOs), while also encompassing soil health and animal welfare. Non-GMO certification is a more focused claim that verifies a product was produced without genetic engineering but does not necessarily address other farming practices like pesticide use, which are covered under organic standards.

Citius Research has developed a research report titled “Food Certification Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Food Certification Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Food Certification Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Food Certification Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Food Certification Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Food Certification Market
• Research Methodology
• Executive Summary
• Market Dynamics of Food Certification Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Food Certification Market
• Cost and Gross Margin Analysis of Food Certification Market
• Food Certification Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Food Certification Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Food Certification Market Key Stakeholders

Below are the key stakeholders for the Food Certification Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Food Certification Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Food Certification Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Food Certification Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Food Certification Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Food Certification Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Food Certification Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Food Certification Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Food Certification Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Food Certification Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Food Certification Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Food Certification Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Food Certification Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Food Certification Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Food Certification Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Food Certification Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Food Certification Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Food Certification Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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