Forage Analysis 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: CR0185674
  • Format: Electronic (PDF)
  • Number of Pages: 214
  • Author(s): Joshi, Madhavi

Report Overview

The Forage Analysis Market size was estimated at USD 650 million in 2023 and is projected to reach USD 1.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024-2030).

Forage Analysis Market

(Market Size)
$650 million
$1.1 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.00%
2023 Market Size USD 650 million
2030 Market Size USD 1.1 billion
Key Players SGS, Eurofins Scientific, Intertek, Bureau Veritas, ALS Limited

Market Summary

The forage analysis market is a critical segment within the global agriculture industry, focusing on the scientific evaluation of animal feed quality and nutritional composition. This market encompasses a range of analytical services and products designed to assess parameters such as protein content, fiber levels, energy values, and mineral presence in forage materials like hay, silage, and pasture grasses. The primary objective is to enable livestock producers and feed manufacturers to formulate optimized diets that enhance animal health, improve productivity, and increase operational efficiency. Demand is driven by the escalating global consumption of animal-based products, which necessitates improved animal nutrition management. Technological advancements in near-infrared spectroscopy (NIRS) and other rapid testing methods have revolutionized the speed and accuracy of forage analysis, making these services more accessible and actionable for stakeholders. The market is characterized by the presence of specialized laboratories, agricultural cooperatives, and equipment manufacturers serving diverse clients from dairy and beef farms to equine operations and research institutions.

Key Highlights

The forage analysis market is distinguished by several key factors that underscore its importance and growth trajectory. A major highlight is the increasing adoption of precision agriculture techniques, where forage testing is integral to data-driven decision-making for feed management and ration formulation. This shift is supported by the development of portable and in-field analysis tools that provide real-time results, reducing reliance on centralized laboratories and speeding up the feedback loop for farmers. Another significant aspect is the growing emphasis on sustainability within animal husbandry; optimized feeding based on precise analysis reduces waste, lowers greenhouse gas emissions per unit of production, and promotes efficient resource use. The market also sees consistent innovation in analytical methodologies, expanding the range of detectable nutritional parameters and contaminants, including mycotoxins and pesticides. Furthermore, the integration of digital platforms and data management software allows for the tracking of forage quality over time, enabling trend analysis and predictive nutrition, which adds substantial value for large-scale operations.

Drivers, Opportunities & Restraints

The expansion of the forage analysis market is propelled by a confluence of drivers, primarily the intensification of livestock production systems worldwide. As operations scale up to meet protein demand, the economic imperative to maximize feed efficiency and animal performance becomes paramount, directly fueling the need for detailed forage quality data. Rising awareness among producers about the direct correlation between precise nutrition and animal health outcomes, such as milk yield, growth rates, and reproductive success, acts as a powerful motivator for market adoption. Significant opportunities lie in emerging economies where modern agricultural practices are being rapidly adopted, presenting a vast untapped customer base. The development of cost-effective, user-friendly analysis technologies also opens new application areas for small and medium-sized farms. However, the market faces restraints including the high initial cost of advanced analytical equipment for some end-users and a lack of awareness or technical expertise among traditional livestock farmers in certain regions. Additionally, the logistical challenges of sample collection and transport from remote farms to testing facilities can hinder market penetration in geographically dispersed agricultural areas.

Concentration Insights

The competitive landscape of the forage analysis market features a mix of large international companies, specialized regional laboratories, and university-affiliated service providers. Leading players such as SGS, Intertek, and Eurofins Scientific have established extensive global networks of laboratories offering a comprehensive suite of agricultural testing services, including forage analysis. Their strength lies in brand reputation, accreditation, and the ability to handle high volumes of samples. Alongside these giants, numerous regional and local laboratories, including dairy cooperatives like Dairy One Forage Lab in the US, hold significant market share due to their deep understanding of local forage varieties and strong relationships with farming communities. These entities often provide tailored services and faster turnaround times. The market concentration is relatively fragmented, with no single player dominating globally, but it is consolidating as larger firms acquire smaller labs to expand their geographical footprint and service capabilities. This creates a dynamic environment where scale, technological prowess, and customer proximity are key determinants of success.

Type Insights

Forage analysis services and products are broadly categorized based on the technology and parameters tested. The most fundamental type is wet chemistry analysis, which is considered the gold standard for its high accuracy. This method involves intricate laboratory procedures to quantify specific nutrients like crude protein, acid detergent fiber (ADF), and neutral detergent fiber (NDF) through chemical extraction and reactions. While highly accurate, it is often more time-consuming and expensive. In contrast, Near-Infrared Spectroscopy (NIRS) has become the dominant type due to its speed, non-destructive nature, and cost-effectiveness for high-volume testing. NIRS instruments are calibrated using wet chemistry data to predict the nutritional composition of new samples rapidly. Other types include mycotoxin screening tests, which are crucial for identifying feed safety hazards, and mineral analysis to ensure proper micronutrient balance. The choice between these types depends on the required precision, budget, and turnaround time, with many providers offering a tiered service model to cater to different client needs.

Application Insights

The application of forage analysis is pervasive across various segments of animal production, each with distinct objectives. In the dairy industry, it is indispensable for formulating total mixed rations (TMR) that maximize milk production and maintain herd health. Precise knowledge of forage energy and protein content allows nutritionists to balance diets with the correct supplements, directly impacting profitability. The beef cattle sector utilizes analysis for backgrounding and finishing programs, optimizing feed-to-gain ratios and ensuring carcass quality specifications are met. Equine operations are a significant application area, where analysis is critical for designing diets that prevent metabolic disorders like laminitis and meet the high nutritional demands of performance horses. Furthermore, forage analysis is applied in sheep and goat production, aquaculture for certain species, and by hay producers who use certification of nutritional value as a marketing tool to command premium prices. Research institutions and government agencies also represent key application segments, using analysis for agricultural studies and quality monitoring programs.

Regional Insights

Geographical demand for forage analysis is closely tied to the concentration and sophistication of livestock production. North America, particularly the United States, represents a mature and highly developed market. This is driven by a large dairy industry in states like California and Wisconsin, extensive beef feedlots, and a strong culture of equine sports, all of which rely heavily on nutritional testing. Europe follows a similar pattern, with countries like Germany, France, the Netherlands, and the UK demonstrating high adoption rates due to stringent quality standards and advanced farming practices. The Asia-Pacific region is identified as a high-growth market, with rapid expansion of commercial dairy and poultry operations in countries such as China, India, and New Zealand fueling demand. South America, with its major beef exporting nations like Brazil and Argentina, also presents a substantial market. Meanwhile, adoption in parts of Africa and the Middle East is emerging but often constrained by infrastructure and awareness, though development initiatives are gradually promoting its use.

Company Insights

The forage analysis market is served by a diverse array of companies ranging from global testing conglomerates to specialized agricultural service firms. SGS SA, a world leader in inspection, verification, and testing, offers forage analysis through its extensive network of laboratories, leveraging its global reputation for quality and reliability. Intertek Group PLC provides similar comprehensive agricultural testing services to a worldwide clientele. Eurofins Scientific is another major player, known for its strong focus on food and feed safety testing, including advanced forage contaminant analysis. Regionally, companies like Dairy One Cooperative Inc. in the US have built a strong reputation specifically within the dairy industry, offering tailored forage and feed analysis services. Cumberland Valley Analytical Services is another prominent US-based lab known for its equine and livestock testing. Other notable participants include commercial feed companies like Cargill and ADM that often have internal analysis capabilities, and manufacturers of NIRS equipment such as Foss Analytical and Bruker, who supply the tools that enable the analysis.

Recent Developments

The forage analysis market is undergoing significant transformation driven by technological innovation and strategic industry movements. A prominent recent development is the accelerated integration of digital and IoT technologies with analytical equipment. Leading providers are launching cloud-connected NIRS instruments and mobile applications that allow farmers to scan samples in the field, upload data instantly, and receive interpreted results and ration recommendations directly on digital devices, enhancing the speed and utility of the information. There has also been a notable expansion in the scope of analysis, with labs increasingly offering packages that include sustainability metrics, such as carbon footprint estimation based on feed efficiency. In terms of corporate activity, the market has witnessed strategic acquisitions as larger firms seek to bolster their geographical presence and technical expertise; for instance, Eurofins has acquired several regional agricultural testing laboratories to expand its footprint. Furthermore, collaborations between analysis companies and animal nutrition software platforms are becoming more common, creating seamless workflows from sample analysis to diet formulation.

Report Segmentation

This comprehensive market report on forage analysis is meticulously segmented to provide a detailed and structured analysis of the industry landscape. The segmentation is designed to cater to the specific information needs of various stakeholders, including manufacturers, service providers, and end-users. The report is first segmented by type of analysis, distinguishing between key methodologies such as Wet Chemistry and Near-Infrared Spectroscopy (NIRS), as the choice of technology represents a fundamental strategic decision for both providers and consumers of these services. Furthermore, the report is segmented by application, providing deep dives into the distinct needs and dynamics of the Dairy Farms, Beef Cattle Farms, Equine Industry, and Other Livestock segments, as the nutritional priorities and economic drivers vary significantly across these groups. An essential component of the segmentation is the geographical analysis, which breaks down the market into key regions and major countries within North America, Europe, Asia-Pacific, and the Rest of the World, highlighting regional production patterns, adoption rates, and growth potential. This multi-dimensional segmentation ensures the report delivers targeted and actionable insights.

FAQs

What is forage analysis? Forage analysis is the scientific process of evaluating the nutritional composition and quality of animal feed sources, primarily hay, silage, and pasture grasses. It involves laboratory testing to measure key components such as protein, fiber, energy, minerals, and moisture content to enable optimal animal diet formulation.

Why is forage analysis important? Forage analysis is critically important because it provides the data necessary to formulate balanced and cost-effective animal rations. It helps maximize animal productivity and health, improve feed efficiency, reduce waste, prevent nutritional disorders, and ultimately enhance the profitability and sustainability of livestock operations.

What are the methods of forage analysis? The two primary methods of forage analysis are wet chemistry and Near-Infrared Spectroscopy (NIRS). Wet chemistry involves precise chemical procedures in a lab and is considered the reference method for accuracy. NIRS is a faster, non-destructive technology that uses light absorption to predict nutritional values based on pre-established calibrations.

How often should forage be tested? Forage should be tested with every new harvest or batch, as nutritional content can vary significantly due to factors like plant species, maturity at harvest, growing conditions, and storage methods. For operations using stored forages like haylage or balage, testing each silo or bunker at feed-out is also recommended to account for any changes during storage.

What does a forage analysis report include? A standard forage analysis report typically includes values for dry matter, crude protein, acid detergent fiber (ADF), neutral detergent fiber (NDF), total digestible nutrients (TDN), net energy for lactation (NEL), and macro minerals like calcium and phosphorus. It may also include recommendations for supplementing the forage based on the animal type and production stage.

Citius Research has developed a research report titled “Forage Analysis 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

• Forage Analysis 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 Forage Analysis 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.

Forage Analysis Market Segmentation

Market Segmentation

Regions Covered

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

Forage Analysis Market Analysis

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

• Overview of Forage Analysis Market
• Research Methodology
• Executive Summary
• Market Dynamics of Forage Analysis 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 Forage Analysis Market
• Cost and Gross Margin Analysis of Forage Analysis Market
• Forage Analysis 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 “Forage Analysis 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.

Forage Analysis Market Key Stakeholders

Below are the key stakeholders for the Forage Analysis Market:

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

Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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 Forage Analysis 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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