Food Testing 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: CR0195385
  • Format: Electronic (PDF)
  • Number of Pages: 197
  • Author(s): Joshi, Madhavi

Report Overview

The Food Testing Market size was estimated at USD 28 billion in 2023 and is projected to reach USD 58 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Food Testing Market

(Market Size)
$28 billion
$58 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.50%
2023 Market Size USD 28 billion
2030 Market Size USD 58 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS

Market Summary

The food testing market is an integral segment of the global food and beverage industry, dedicated to ensuring the safety, quality, and authenticity of food products consumed worldwide. This market encompasses a wide range of analytical services and technologies designed to detect contaminants, verify nutritional content, and confirm compliance with stringent international food safety standards. Increasing consumer awareness regarding foodborne illnesses and the growing demand for transparent labeling are major factors propelling the need for rigorous testing protocols. Companies operating in this space provide essential services to food manufacturers, retailers, and regulatory bodies, helping to mitigate risks associated with adulteration, pathogens, and chemical residues. The market is characterized by continuous advancements in testing methodologies, including rapid testing kits and sophisticated instrumentation, which enhance accuracy and reduce turnaround times. As global supply chains become more complex, the role of food testing laboratories becomes increasingly critical in maintaining public health and consumer trust. The industry is also witnessing a shift towards automation and digitalization, enabling more efficient data management and traceability throughout the food production process.

Key Highlights

The food testing market is distinguished by several key highlights that underscore its importance and dynamism. One significant aspect is the increasing adoption of rapid testing technologies, which allow for on-site detection of contaminants and significantly shorten analysis times compared to traditional laboratory methods. Another highlight is the rising emphasis on testing for allergens, driven by growing consumer sensitivity and stricter labeling regulations in many regions. The market is also seeing expanded testing for genetically modified organisms (GMOs) as consumer preferences shift towards non-GMO products. Furthermore, there is a notable trend towards outsourcing testing services to specialized third-party laboratories, as food companies seek expertise and cost efficiencies. The integration of blockchain and other digital technologies for enhancing traceability and transparency in test results is gaining traction. Key players in the market are continuously engaging in strategic collaborations and expansions to broaden their geographic reach and testing capabilities. The development of multi-residue testing methods that can detect multiple contaminants in a single analysis is improving operational efficiency for testing laboratories.

Drivers, Opportunities & Restraints

The food testing market is primarily driven by increasing global concerns over food safety, spurred by frequent incidents of food contamination and recalls. Stringent government regulations and food safety standards across various countries mandate comprehensive testing, compelling food producers to adhere to these requirements. The growing consumer demand for high-quality, safe, and authentic food products further fuels market growth, as does the expansion of the global food trade, which necessitates compliance with international safety norms. Opportunities in this market are abundant, particularly in the development and adoption of novel testing technologies such as biosensors, chromatography, and spectroscopy-based methods that offer higher sensitivity and specificity. The rise of organic and clean-label products presents new avenues for specialized testing services. Emerging economies offer significant growth potential due to improving regulatory frameworks and increasing health consciousness. However, the market faces restraints including the high cost of advanced testing equipment and the need for skilled professionals to operate sophisticated instruments. Lack of harmonization in food safety regulations across different regions can also pose challenges for multinational food companies. Additionally, the complexity of testing certain food matrices and the time-consuming nature of some traditional methods can hinder market progression.

Concentration Insights

The food testing market exhibits a moderately concentrated landscape with the presence of several established international players and numerous regional laboratories. Leading companies such as SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas, and ALS Limited hold significant market shares due to their extensive service portfolios, global network of laboratories, and strong reputations for reliability. These major players often engage in mergers and acquisitions to enhance their technological capabilities and expand their geographic presence. Despite the dominance of these giants, the market also includes many small and medium-sized enterprises that cater to local or niche testing requirements. The concentration is higher in developed regions like North America and Europe, where regulatory environments are strictest. In contrast, emerging markets in Asia-Pacific and Latin America are more fragmented, with local laboratories playing a crucial role. The competitive intensity is high, with companies competing on factors such as testing accuracy, turnaround time, price, and range of services offered. Technological innovation is a key differentiator, prompting continuous investment in research and development.

Type Insights

Food testing encompasses various types of analyses tailored to detect specific contaminants and verify quality parameters. Microbiological testing is a fundamental type, focusing on the detection of pathogens such as Salmonella, Listeria, E. coli, and Campylobacter, which are major causes of foodborne illnesses. This segment is critical for ensuring the safety of perishable products like meat, dairy, and ready-to-eat meals. Chemical testing constitutes another major category, involving the analysis of pesticides, antibiotics, heavy metals, toxins, and food additives to prevent chemical hazards. Nutritional labeling testing is increasingly important, verifying the accuracy of claims regarding calories, vitamins, fats, and other nutrients on product packaging. Allergen testing has gained prominence due to the rising prevalence of food allergies, requiring detection of traces of peanuts, gluten, soy, and other common allergens. GMO testing is performed to identify genetically modified ingredients, catering to regulatory and consumer demands. Additionally, authenticity testing is employed to combat food fraud, ensuring that products are not adulterated or misrepresented, such as verifying the origin of olive oil or the purity of honey.

Application Insights

The application of food testing services spans across various categories within the food and beverage industry, each with specific safety and quality concerns. Meat and poultry products represent a significant application segment due to their high susceptibility to microbial contamination; testing here is crucial for detecting pathogens and ensuring proper handling. Dairy products undergo rigorous testing for antibiotics, adulterants, and microbiological quality to maintain safety standards from farm to table. Processed foods are tested for preservatives, additives, and contaminants introduced during manufacturing. Fruits and vegetables are analyzed for pesticide residues and microbial contamination to meet safety guidelines. Beverages, including alcoholic and non-alcoholic drinks, are tested for alcohol content, impurities, and additives. The bakery and confectionery segment requires testing for allergens, shelf-life determination, and quality parameters like texture and moisture. Additionally, there is growing testing application in emerging areas such as dietary supplements, functional foods, and infant formula, where precise compositional analysis is vital. Each application demands tailored testing protocols to address unique risks and regulatory requirements.

Regional Insights

The food testing market demonstrates distinct regional characteristics influenced by economic development, regulatory stringency, and consumer behavior. North America is a prominent region, driven by strict food safety regulations enforced by agencies like the FDA and USDA, high consumer awareness, and a well-established food processing industry. Europe follows closely, with robust frameworks such as the European Food Safety Authority guidelines and strong demand for organic and non-GMO product verification. The Asia-Pacific region is experiencing rapid growth due to expanding population, increasing disposable incomes, rising health consciousness, and gradual strengthening of food safety laws in countries like China and India. Latin America shows steady growth, supported by agricultural exports which require compliance with international standards. The Middle East and Africa region is evolving, with growth fueled by imports dependency necessitating stringent inbound testing and gradual development of local food safety regulations. Each region presents unique challenges and opportunities, with testing preferences and regulatory focus varying accordingly, influencing the strategies of global and local testing service providers.

Company Insights

The competitive landscape of the food testing market includes a mix of multinational corporations and specialized regional players. SGS SA is a global leader offering a comprehensive suite of testing, inspection, and certification services across the food supply chain. Eurofins Scientific has a strong focus on food, environmental, and pharmaceutical testing, with a vast network of laboratories worldwide. Intertek Group plc provides quality assurance solutions including extensive food testing services for safety, quality, and performance. Bureau Veritas is another key player known for its testing, inspection, and certification expertise in various industries including food and beverages. ALS Limited offers analytical testing services with a significant presence in food and environmental sectors. These companies invest heavily in technology, accreditation, and geographic expansion to maintain their competitive edge. Other notable participants include NSF International, Merieux NutriSciences, and Microbac Laboratories, which specialize in food safety and quality solutions. Companies compete on technical capabilities, service reliability, speed, customer service, and ability to offer a one-stop-shop for multiple testing needs.

Recent Developments

The food testing market is continuously evolving with recent developments focusing on technological innovation, strategic expansions, and regulatory adaptations. There has been a significant increase in the adoption of rapid testing methods and portable devices that enable faster on-site detection of contaminants, reducing reliance on traditional lab-based assays. Major companies are investing in automation and robotics to enhance throughput and minimize human error in sample analysis. The integration of artificial intelligence and machine learning for data analysis is becoming more prevalent, improving the prediction of contamination patterns and test result accuracy. Strategic mergers and acquisitions continue to shape the market, as larger entities acquire niche laboratories to broaden their service offerings and geographic footprint. Collaborations between testing companies and food manufacturers are increasing to develop customized testing solutions for specific product lines. Furthermore, there is a growing emphasis on sustainability testing, assessing aspects like carbon footprint and water usage in food production. The market is also responding to new regulatory requirements emerging from global incidents, leading to expanded testing for novel contaminants and adulterants.

Report Segmentation

This market research report on the food testing market provides a detailed segmentation to facilitate a comprehensive understanding of the industry dynamics. The report is segmented by type of testing, which includes microbiological testing, chemical testing, nutritional labeling testing, allergen testing, GMO testing, and authenticity testing. Each segment is analyzed in terms of market trends, technological advancements, and growth prospects. The application segmentation covers key areas such as meat and poultry products, dairy products, processed foods, fruits and vegetables, beverages, and bakery and confectionery products, highlighting specific testing requirements and demand drivers for each category. Geographical segmentation offers insights into regional markets including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, examining local regulatory environments, consumer preferences, and competitive landscapes. Additionally, the report includes segmentation by technology, distinguishing between traditional methods and rapid testing methods. This structured approach allows stakeholders to identify targeted opportunities and understand sector-specific challenges within the broader food testing ecosystem.

FAQs

What is food testing? Food testing is a systematic process of analyzing food products to ensure they are safe for consumption, meet quality standards, and comply with regulatory requirements. It involves detecting harmful contaminants, verifying nutritional information, and confirming the authenticity of ingredients.

Why is food testing important? Food testing is crucial for preventing foodborne illnesses, protecting public health, and maintaining consumer trust. It helps enforce food safety regulations, prevents economic losses from recalls, and ensures fair trade practices by verifying product quality and labeling accuracy.

What are the common methods of food testing? Common methods include microbiological techniques like PCR and culturing for pathogens, chemical methods such as chromatography and spectroscopy for residues and additives, and immunological assays for allergen detection. Rapid methods are gaining popularity for their speed and portability.

What contaminants are tested in food? Food is tested for a range of contaminants including pathogenic bacteria (e.g., Salmonella, E. coli), viruses, parasites, pesticide residues, heavy metals, mycotoxins, illegal additives, allergens, and genetically modified organisms to ensure safety and compliance.

How much does food testing cost? The cost of food testing varies widely depending on the type of test, the complexity of the food matrix, the number of analytes, and the required turnaround time. Basic tests may be relatively inexpensive, while comprehensive panels or expedited services command higher fees.

Citius Research has developed a research report titled “Food Testing 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 Testing 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 Testing 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 Testing Market Segmentation

Market Segmentation

Regions Covered

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

Food Testing Market Analysis

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

• Overview of Food Testing Market
• Research Methodology
• Executive Summary
• Market Dynamics of Food Testing 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 Testing Market
• Cost and Gross Margin Analysis of Food Testing Market
• Food Testing 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 Testing 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 Testing Market Key Stakeholders

Below are the key stakeholders for the Food Testing Market:

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

Food Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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 Testing 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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