GMO 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: CR0196172
  • Format: Electronic (PDF)
  • Number of Pages: 190
  • Author(s): Joshi, Madhavi

Report Overview

The GMO Testing Market size was estimated at USD 850 million in 2023 and is projected to reach USD 1.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

GMO Testing Market

(Market Size)
$850 million
$1.8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.00%
2023 Market Size USD 850 million
2030 Market Size USD 1.8 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS Limited

Market Summary

The GMO testing market is a critical segment within the food and beverage industry, dedicated to detecting and quantifying genetically modified organisms in food products and agricultural commodities. This market has evolved significantly due to increasing consumer awareness about food safety, stringent government regulations mandating GMO labeling, and the expansion of international trade which requires compliance with diverse biotech policies. Testing is essential for verifying non-GMO claims, ensuring supply chain integrity, and meeting the standards set by regulatory bodies across different regions. The market encompasses a range of technologies and services provided by specialized laboratories and companies that cater to food manufacturers, processors, retailers, and agricultural producers. The demand is further propelled by the rising cultivation of genetically modified crops globally and the subsequent need for monitoring from farm to fork. As the food industry continues to globalize, the role of GMO testing in ensuring transparency and building consumer trust becomes increasingly paramount, making it an indispensable component of modern food quality assurance and safety protocols.

Key Highlights

The GMO testing market is characterized by the adoption of advanced molecular diagnostic techniques such as polymerase chain reaction (PCR) and immunoassays, which offer high specificity and sensitivity in detecting genetic modifications. Key industry players include SGS SA, Bureau Veritas SA, Intertek Group plc, Eurofins Scientific, and T?V S?D, which provide comprehensive testing services globally. A significant highlight is the development of rapid testing kits that enable on-site screening, providing quicker results for stakeholders in the supply chain. The market is also witnessing a trend towards multi-plex testing, which allows for the simultaneous detection of multiple GMO traits in a single assay, enhancing efficiency and reducing costs. Additionally, there is a growing emphasis on testing processed foods, where DNA degradation can pose challenges, necessitating sophisticated extraction and analysis methods. The enforcement of regulations like the European Union's stringent GMO labeling laws and the U.S. National Bioengineered Food Disclosure Standard continues to drive market growth and innovation in testing methodologies.

Drivers, Opportunities & Restraints

Primary drivers of the GMO testing market include the implementation of strict governmental regulations worldwide that require mandatory labeling of genetically modified food products, compelling manufacturers to conduct rigorous testing. Increasing consumer awareness and demand for transparency in food ingredients are significantly boosting market growth, as shoppers become more vigilant about non-GMO and organic choices. The expansion of international trade in agricultural commodities necessitates GMO testing to comply with import-export regulations, preventing trade disputes and ensuring market access. However, the market faces restraints such as the high cost of advanced testing equipment and the need for skilled personnel to operate sophisticated laboratory instruments, which can be prohibitive for small-scale laboratories. Complexities in testing processed foods due to DNA degradation during manufacturing processes also present technical challenges. Opportunities lie in the development of cost-effective and rapid testing technologies, expansion into emerging markets with growing regulatory frameworks, and increased outsourcing of testing services by food companies to specialized third-party providers.

Concentration Insights

The GMO testing market exhibits a concentrated competitive landscape with a few major international companies holding significant market share. Leading players such as SGS SA, Eurofins Scientific, Intertek Group plc, Bureau Veritas SA, and T?V S?D dominate the market, offering a wide array of testing services across multiple geographies. These companies have extensive laboratory networks, advanced technological capabilities, and strong reputations for reliability, which allows them to serve large multinational food corporations and comply with diverse international standards. The market concentration is further reinforced by frequent mergers and acquisitions, enabling these entities to expand their service portfolios and geographic reach. Despite the dominance of these giants, there are numerous smaller regional and specialized laboratories that cater to local markets or niche segments, often focusing on specific crops or testing methods. The high barriers to entry, including substantial capital investment for laboratory setup and accreditation requirements, contribute to this concentrated nature, though technological advancements in portable testing devices may eventually enable greater participation from smaller firms.

Type Insights

GMO testing methods are primarily categorized into polymerase chain reaction (PCR) based tests and immunoassay-based tests. PCR testing is the most widely adopted technology due to its high accuracy, sensitivity, and ability to detect even minute quantities of genetically modified material, even in highly processed foods. This method targets specific DNA sequences that are indicative of genetic modification, providing qualitative and quantitative results. Immunoassay tests, such as ELISA (enzyme-linked immunosorbent assay), detect the proteins expressed by genetically modified genes and are often used for rapid, initial screening due to their cost-effectiveness and simplicity, though they may be less effective in processed foods where proteins can denature. Other emerging technologies include DNA microarrays and next-generation sequencing, which offer comprehensive profiling capabilities but are currently used more in research than routine testing. The choice of testing type depends on factors like the food matrix, required sensitivity, regulatory needs, and cost considerations, with many laboratories employing a combination of methods to ensure thorough analysis.

Application Insights

GMO testing applications within the food and beverages industry are diverse, covering raw agricultural commodities, processed foods, animal feed, and even food additives. Testing of crops such as corn, soybean, canola, and cotton is predominant, as these are among the most widely genetically modified crops globally. Processed food testing is particularly challenging yet crucial, as ingredients like soy lecithin, corn syrup, and canola oil are ubiquitous in packaged foods and undergo manufacturing processes that can degrade DNA and proteins. Meat, dairy, and seafood products are also tested to verify claims about non-GMO feed used in animal production. Furthermore, there is growing application in testing organic products to certify their non-GMO status, which is a key marketing attribute. The pet food industry represents another significant application area, with increasing consumer demand for transparency in ingredients. Each application requires tailored testing protocols to address matrix-specific interferences and ensure accurate detection and quantification of GMO content.

Regional Insights

The demand for GMO testing varies significantly by region, influenced by local regulations, consumer attitudes, and agricultural practices. Europe represents a major market due to its highly stringent and precautionary regulatory framework, which mandates labeling for foods containing more than 0.9% GMO content and has led to widespread testing across the supply chain. North America, particularly the United States, has a large market driven by the implementation of the National Bioengineered Food Disclosure Standard and high adoption of GM crops, though testing practices are often influenced by supply chain requirements and export needs rather than domestic consumer labeling. The Asia-Pacific region is experiencing rapid growth, fueled by increasing import-export activities, growing consumer awareness, and the development of regulatory systems in countries like Japan, South Korea, and Australia. Latin American countries, being major producers of GM crops such as soybeans and corn, have significant testing volumes for export certification. Meanwhile, regions like Africa and the Middle East are emerging markets, with growing interest in establishing their own GMO regulations and testing capabilities.

Company Insights

Prominent companies in the GMO testing market include SGS SA, a global leader in inspection, verification, testing, and certification, offering a comprehensive suite of GMO detection services through its extensive network of laboratories. Eurofins Scientific is another key player, renowned for its food testing expertise and advanced genomic analysis capabilities. Intertek Group plc provides tailored GMO testing solutions to support quality, safety, and sustainability claims for food brands worldwide. Bureau Veritas SA offers authentication and testing services, including GMO analysis, to ensure regulatory compliance and consumer safety. T?V S?D is a recognized provider of safety and quality services, including food testing for genetically modified organisms. These companies compete on the basis of technical expertise, accreditation, turnaround time, global reach, and the ability to provide a one-stop-shop for various food safety tests. They continuously invest in research and development to enhance their testing methodologies, expand their service offerings, and improve detection limits to meet evolving regulatory and client demands.

Recent Developments

The GMO testing market has seen several recent developments aimed at enhancing efficiency, accuracy, and accessibility. Key players have been investing in the expansion of their laboratory networks and capabilities, particularly in high-growth regions like Asia-Pacific. There is a notable trend towards the automation of laboratory processes to increase throughput and reduce human error, utilizing robotic systems for sample preparation and analysis. The development of digital PCR (dPCR) technology represents a significant advancement, offering absolute quantification of GMOs without the need for standard curves, thus providing higher precision, especially for complex matrices. Companies are also launching new rapid testing kits designed for on-site use at ports, warehouses, and processing facilities, enabling faster decision-making. Furthermore, there is increasing collaboration between testing service providers and food companies to develop customized testing protocols for specific products and supply chains. The market is also responding to the emergence of new breeding techniques (NBTs) like CRISPR, with research ongoing to develop detection methods for these edits which may not involve foreign DNA.

Report Segmentation

This market research report on the GMO testing market provides a detailed segmentation to offer a granular understanding of the industry dynamics. The market is segmented by technology into polymerase chain reaction (PCR) and immunoassays, with further breakdown into qualitative and quantitative PCR, and various types of immunoassays like ELISA strips and plates. By trait, the market is segmented into stacked, herbicide tolerance, and insect resistance, reflecting the common genetic modifications in crops. Crop type segmentation includes major tested commodities such as corn, soybean, canola, potato, and others. The processed food segment is analyzed separately due to its unique testing challenges and includes sub-segments like bakery products, meat products, breakfast cereals, and food additives. Geographically, the report provides in-depth analysis for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, highlighting regional regulations, key players, and market trends. This multi-faceted segmentation allows stakeholders to identify specific growth pockets and tailor their strategies accordingly.

FAQs

What is GMO testing? GMO testing refers to the analytical processes used to detect and quantify the presence of genetically modified organisms in food products, agricultural commodities, and animal feed. It involves techniques like PCR and immunoassays to identify specific DNA sequences or proteins that indicate genetic modification.

Why is GMO testing important? GMO testing is crucial for regulatory compliance with labeling laws in many countries, ensuring consumer right-to-know, verifying non-GMO claims for marketing purposes, preventing fraudulent labeling, and facilitating international trade by meeting the import requirements of different nations.

What are the methods used for GMO testing? The primary methods are polymerase chain reaction (PCR), which detects modified DNA sequences, and immunoassays like ELISA, which detect proteins expressed from modified genes. PCR is favored for its high sensitivity and ability to test processed foods, while immunoassays are often used for rapid initial screening.

Which foods are most commonly tested for GMOs? The most commonly tested foods include crops with high rates of genetic modification such as corn, soybeans, canola, cotton, sugar beets, and alfalfa. Processed foods containing derivatives of these crops, like soy protein, corn starch, and canola oil, are also frequently tested.

What are the challenges in GMO testing? Key challenges include the high cost of sophisticated equipment, the need for skilled technicians, difficulties in extracting detectable DNA from highly processed foods where it may be degraded, the emergence of new genetic engineering techniques that are harder to detect, and keeping pace with the increasing number of approved GMO events worldwide.

Citius Research has developed a research report titled “GMO 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

• GMO 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 GMO 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.

GMO Testing Market Segmentation

Market Segmentation

Regions Covered

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

GMO Testing Market Analysis

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

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

GMO Testing Market Key Stakeholders

Below are the key stakeholders for the GMO Testing Market:

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

GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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 GMO 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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