Impact Analysis: China Food Safety 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: CR0196176
  • Format: Electronic (PDF)
  • Number of Pages: 221
  • Author(s): Joshi, Madhavi

Report Overview

The Impact Analysis: China Food Safety Testing Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.00% during the forecast period (2024-2030).

Impact Analysis: China Food Safety Testing Market

(Market Size)
$3.2 billion
$7 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 3.2 billion
2030 Market Size USD 7 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS Limited

Market Summary

The China food safety testing market is a critical component of the broader food and beverages industry, driven by increasing consumer awareness and stringent regulatory frameworks. This market encompasses a wide range of testing methodologies aimed at detecting contaminants, pathogens, and adulterants in food products. With China being one of the largest food producers and consumers globally, the demand for robust testing solutions has surged, particularly in response to past food safety incidents that have heightened public and governmental concern. The market is characterized by continuous advancements in testing technologies and a growing emphasis on rapid and accurate detection methods. Key players include both international and domestic companies offering diverse testing services and equipment. The integration of advanced technologies such as biosensors and PCR-based methods is becoming more prevalent, enhancing the efficiency and reliability of food safety assessments. Additionally, the market is supported by government initiatives and policies aimed at improving food safety standards, which further propels the adoption of testing services across various food segments.

Key Highlights

The China food safety testing market is distinguished by several key highlights that underscore its dynamic nature and growth potential. One significant aspect is the increasing adoption of rapid testing technologies, which provide quicker results compared to traditional methods, thereby enabling faster decision-making for food manufacturers and regulators. Another highlight is the rising investment in research and development by leading companies to introduce innovative testing solutions that cater to evolving regulatory requirements and consumer demands. The market also sees a growing trend towards outsourcing testing services to specialized third-party laboratories, which offer expertise and advanced equipment, ensuring compliance with national and international standards. Furthermore, there is a noticeable shift towards testing for a broader range of contaminants, including pesticides, heavy metals, and allergens, reflecting comprehensive safety approaches. The emphasis on traceability and transparency in the food supply chain is another critical highlight, driving the integration of testing with digital solutions for better monitoring and reporting.

Drivers, Opportunities & Restraints

Several drivers propel the China food safety testing market, including stringent government regulations aimed at ensuring food safety and protecting public health. The increasing incidence of foodborne illnesses and contamination scandals has heightened consumer awareness, driving demand for rigorous testing protocols. Technological advancements in testing equipment and methods also serve as a significant driver, enabling more accurate and efficient detection of contaminants. Opportunities in this market are abundant, particularly in the development of portable and user-friendly testing devices that can be deployed at various points in the supply chain. The growing trend of organic and natural foods presents another opportunity, as these products often require specialized testing to verify claims and ensure safety. However, the market faces restraints such as high costs associated with advanced testing technologies and equipment, which can be prohibitive for small and medium-sized enterprises. Additionally, a lack of standardized regulations across different regions in China can create challenges for companies operating nationwide, necessitating adaptable testing strategies.

Concentration Insights

The concentration of the China food safety testing market reveals a competitive landscape with a mix of international giants and local players. Major international companies such as SGS, Bureau Veritas, and Intertek have a strong presence, leveraging their global expertise and extensive service networks. These companies often focus on offering comprehensive testing solutions that cover a wide array of contaminants and food types. Domestic firms are also significant, with companies like China National Center for Food Safety Risk Assessment and local laboratories expanding their capabilities to meet growing demand. The market concentration is influenced by factors such as technological capability, regulatory compliance, and geographic coverage. There is a notable trend towards mergers and acquisitions, as companies seek to enhance their service offerings and expand their market reach. Additionally, partnerships between testing companies and food manufacturers are becoming more common, aimed at ensuring continuous monitoring and compliance throughout the production process.

Type Insights

In terms of type, the China food safety testing market is segmented into various testing methodologies, each catering to specific detection needs. Microbiological testing is predominant, focusing on pathogens such as Salmonella, E. coli, and Listeria, which are critical for preventing foodborne illnesses. Chemical testing is another major segment, involving the detection of residues like pesticides, veterinary drugs, and heavy metals, which can have adverse health effects. Allergen testing is gaining importance due to increasing consumer sensitivity and regulatory requirements for labeling. Additionally, there is growing attention towards GMO testing, as genetically modified organisms become more prevalent in the food supply. Each testing type employs different technologies, from traditional culture methods to advanced molecular techniques like PCR and immunoassays. The choice of testing method often depends on the specific food product, regulatory mandates, and the desired speed and accuracy of results.

Application Insights

The application of food safety testing in China spans across various food categories, each with unique testing requirements. Meat and poultry products undergo rigorous testing for pathogens and chemical residues, given their high risk of contamination. Dairy products are frequently tested for adulterants and microbiological contaminants to ensure safety and quality. Processed foods require comprehensive testing for preservatives, additives, and allergens to comply with labeling and safety standards. Fruits and vegetables are tested for pesticide residues and microbial contamination, reflecting concerns over agricultural practices. Seafood is another critical category, with testing focused on heavy metals and toxins due to environmental factors. Each application segment demands tailored testing protocols, driven by regulatory standards and consumer expectations. The diversity in applications underscores the need for versatile testing solutions that can adapt to different food matrices and contamination risks.

Regional Insights

Regionally, the China food safety testing market exhibits variations influenced by economic development, regulatory enforcement, and consumer awareness. Eastern China, including major cities like Shanghai and Beijing, represents a significant market due to higher disposable incomes, greater consumer awareness, and stringent regulatory oversight. These regions have well-established testing infrastructure and a high concentration of food processing industries. Southern China, with its extensive agricultural and seafood production, also demands robust testing services, particularly for export-oriented products. Western and Central China, while developing, show growing potential due to increasing industrialization of food production and rising government focus on food safety. However, these regions may face challenges related to testing accessibility and technological adoption. Overall, regional disparities highlight the need for targeted strategies that address local regulatory requirements and market conditions, ensuring comprehensive food safety coverage across the country.

Company Insights

Key companies in the China food safety testing market include both international and domestic players that offer a range of services and solutions. International leaders such as SGS, Eurofins Scientific, and Thermo Fisher Scientific are prominent, providing advanced testing technologies and global benchmarking standards. These companies often invest heavily in local laboratories and partnerships to enhance their market presence. Domestic firms like China Food and Drug Inspection Institute and local testing laboratories are also crucial, offering specialized services tailored to regional needs and regulations. The competitive landscape is characterized by continuous innovation, with companies developing new testing kits and automated systems to improve efficiency and accuracy. Strategic collaborations with food manufacturers and regulatory bodies are common, aimed at staying ahead of emerging contaminants and regulatory changes. The presence of these companies ensures a diverse and dynamic market, capable of addressing the evolving challenges in food safety.

Recent Developments

Recent developments in the China food safety testing market reflect ongoing advancements and strategic initiatives aimed at enhancing testing capabilities. There has been a notable increase in the adoption of blockchain technology for traceability, allowing for more transparent and secure recording of testing results throughout the supply chain. Companies are also investing in artificial intelligence and machine learning to predict contamination risks and optimize testing protocols. Regulatory updates have introduced stricter standards for certain contaminants, prompting testing firms to develop new assays and validation methods. Additionally, several mergers and acquisitions have taken place, enabling companies to expand their service portfolios and geographic reach. Partnerships between testing companies and academic institutions are fostering research into novel detection technologies, such as biosensors and nanotechnology-based tests. These developments indicate a market that is rapidly evolving to meet future challenges and opportunities in food safety.

Report Segmentation

This report on the China food safety testing market is segmented to provide detailed insights into various aspects influencing the industry. The segmentation includes by type, covering microbiological, chemical, allergen, and GMO testing, each analyzed for their market dynamics and technological trends. By application, the report examines key food categories such as meat and poultry, dairy products, processed foods, fruits and vegetables, and seafood, highlighting specific testing requirements and regulatory influences. Regional segmentation offers a breakdown of market performance across Eastern, Southern, Western, and Central China, addressing local regulatory frameworks and consumer behaviors. Additionally, the report includes segmentation by technology, distinguishing between traditional methods and rapid testing techniques, and their adoption rates. This comprehensive segmentation allows stakeholders to identify growth opportunities, understand competitive landscapes, and make informed decisions based on detailed, category-specific analysis.

FAQs

What are the common methods used in food safety testing in China? Common methods include microbiological testing for pathogens, chemical testing for residues, and advanced techniques like PCR and immunoassays for rapid detection.

How does government regulation impact the food safety testing market in China? Government regulations set stringent standards for contaminants, driving demand for testing services and encouraging adoption of advanced technologies to ensure compliance.

What are the major contaminants tested in China's food safety market? Major contaminants include pathogens such as Salmonella, chemical residues like pesticides and heavy metals, and allergens that require accurate detection and labeling.

Which food segments require the most testing in China? Meat and poultry, dairy products, and seafood are among the most tested segments due to their high risk of contamination and regulatory scrutiny.

Who are the key players in the China food safety testing market? Key players include international companies like SGS and Eurofins, as well as domestic firms such as China National Center for Food Safety Risk Assessment, offering diverse testing solutions.

Citius Research has developed a research report titled “Impact Analysis: China Food Safety 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

• Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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.

Impact Analysis: China Food Safety Testing Market Segmentation

Market Segmentation

Regions Covered

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

Impact Analysis: China Food Safety Testing Market Analysis

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

• Overview of Impact Analysis: China Food Safety Testing Market
• Research Methodology
• Executive Summary
• Market Dynamics of Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety Testing Market
• Cost and Gross Margin Analysis of Impact Analysis: China Food Safety Testing Market
• Impact Analysis: China Food Safety 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 “Impact Analysis: China Food Safety 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.

Impact Analysis: China Food Safety Testing Market Key Stakeholders

Below are the key stakeholders for the Impact Analysis: China Food Safety Testing Market:

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

Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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 Impact Analysis: China Food Safety 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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