Probiotics in Animal Feed 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: CR0185716
  • Format: Electronic (PDF)
  • Number of Pages: 222
  • Author(s): Joshi, Madhavi

Report Overview

The Probiotics in Animal Feed Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 5.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024-2030).

Probiotics in Animal Feed Market

(Market Size)
$3.2 billion
$5.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.80%
2023 Market Size USD 3.2 billion
2030 Market Size USD 5.2 billion
Key Players Chr. Hansen, Lallemand, DuPont, Novozymes, DSM

Market Summary

The probiotics in animal feed market is a dynamic and rapidly expanding segment within the global agriculture industry, focused on enhancing animal health and productivity through natural means. This market revolves around the incorporation of beneficial live microorganisms, primarily bacteria and yeast, into feed formulations for livestock, poultry, aquaculture, and other animals. The primary objective is to improve gut health, which directly correlates to enhanced nutrient absorption, stronger immune responses, and overall better growth performance. The shift towards reducing antibiotic use in animal husbandry, driven by growing antimicrobial resistance concerns and stringent regulatory policies, is a fundamental force propelling the adoption of probiotic feed additives. Manufacturers and suppliers are continuously innovating to develop advanced, strain-specific solutions tailored to different animal species and production stages. The market is characterized by significant research and development activities aimed at proving efficacy and gaining regulatory approvals across various regions. This sector represents a crucial intersection of animal nutrition, health, and sustainable farming practices, attracting investment from major animal health and nutrition corporations worldwide.

Key Highlights

The probiotics in animal feed market is distinguished by several pivotal developments that underscore its strategic importance. A key highlight is the scientific validation of specific probiotic strains, such as Lactobacillus, Bifidobacterium, and Bacillus subtilis, for their proven benefits in improving feed conversion ratios and reducing mortality rates in commercial farming. The integration of probiotics with other feed additives, like prebiotics and organic acids, to create synergistic synbiotic solutions is another significant trend, enhancing overall product efficacy. The market is also witnessing a surge in demand within the aquaculture sector, where probiotics are crucial for maintaining water quality and preventing diseases in high-density fish farming. Furthermore, advancements in microencapsulation technologies are improving the stability and survivability of probiotics through the harsh conditions of feed processing and the animal's digestive tract. The growing consumer demand for antibiotic-free meat, milk, and eggs is compelling producers to adopt these natural alternatives, thereby creating a robust and resilient market pipeline.

Drivers, Opportunities & Restraints

The growth of the probiotics in animal feed market is propelled by a confluence of powerful drivers. The foremost driver is the global push to curb antibiotic growth promoters (AGPs) in livestock production, mandated by regulations in regions like Europe and North America, creating a vacuum filled by probiotic solutions. Increasing consumer awareness and demand for naturally produced animal protein with no antibiotic residues significantly influence producer choices. Additionally, the intensification of animal farming operations necessitates effective health management tools to prevent economic losses from diseases, further driving adoption. The market presents substantial opportunities in the form of untapped potential in emerging economies across Asia-Pacific and Latin America, where meat consumption is rising. Developing multi-strain and targeted-species probiotics represents another lucrative avenue for innovation. However, the market faces notable restraints, including the high cost of research, development, and commercialization of effective probiotic strains compared to conventional antibiotics. The lack of universal regulatory standards and the challenge of ensuring probiotic viability throughout the supply chain also pose significant hurdles to widespread market penetration.

Concentration Insights

The competitive landscape of the probiotics in animal feed market is moderately concentrated, featuring a mix of established multinational corporations and specialized niche players. A handful of leading companies, including Chr. Hansen Holding A/S, Koninklijke DSM N.V., and Novozymes A/S, command a significant market share due to their extensive research capabilities, robust product portfolios, and strong global distribution networks. These industry giants often engage in strategic mergers, acquisitions, and partnerships to expand their microbial strain libraries and geographic reach. Alongside them, numerous smaller and medium-sized enterprises compete by focusing on innovation, such as developing novel strains for specific applications or offering customized solutions for regional farming practices. The market concentration is also influenced by high barriers to entry, including the need for substantial capital investment in R&D, stringent regulatory compliance, and the necessity to build trust with feed manufacturers and farmers through proven product efficacy. This structure fosters an environment of continuous innovation and competition.

Type Insights

The probiotics in animal feed market is segmented based on the type of microorganisms used, with bacteria dominating the landscape and yeast gaining considerable traction. Bacterial probiotics are primarily represented by lactic acid bacteria, including various Lactobacillus and Enterococcus species, renowned for their ability to produce lactic acid and create an unfavorable environment for pathogens in the gut. Spore-forming bacteria, such as Bacillus and Clostridium species, are highly valued for their innate resilience, forming spores that withstand heat and pressure during feed pelleting, ensuring delivery of viable cells to the animal's intestine. On the other hand, yeast-based probiotics, notably Saccharomyces cerevisiae, are praised for their role in stabilizing the rumen environment in ruminants and enhancing fiber digestion. Some products also utilize specific yeast cultures. The selection of probiotic type is critically dependent on the target animal species, its digestive physiology, and the desired health outcome, leading to a diverse and specialized product offering from suppliers.

Application Insights

The application of probiotics in animal feed spans across various livestock categories, each with distinct requirements and adoption rates. The poultry segment represents a largest application area, driven by the high intensity of broiler and layer production where gut health is directly linked to productivity and profitability. Probiotics are used to combat pathogens like Salmonella and E. coli, improve growth rates, and enhance egg quality. In the ruminant sector, which includes cattle and sheep, probiotics are crucial for optimizing rumen fermentation, improving feed efficiency, and preventing metabolic disorders such as acidosis. The swine industry is another major consumer, utilizing probiotics to strengthen the gut barrier function and improve weight gain in piglets post-weaning. The aquaculture application is experiencing the fastest growth, with probiotics being added to water or feed to promote shrimp and fish health, control diseases, and improve water quality by reducing nitrogenous waste. Other applications include equine, pet, and poultry feed.

Regional Insights

The demand for probiotics in animal feed exhibits distinct regional patterns influenced by regulatory frameworks, livestock production intensity, and awareness levels. North America and Europe are established, mature markets characterized by high adoption rates. This is largely due to early bans on antibiotic growth promoters, well-defined regulatory pathways, and a strong presence of leading probiotic manufacturers. The Asia-Pacific region is identified as the fastest-growing market, fueled by expanding livestock production in China and India, rising meat consumption, and increasing awareness of animal health and food safety. Government initiatives in these countries to modernize the agricultural sector further support this growth. Latin America, with powerhouse nations like Brazil and Mexico, shows significant potential due to its massive commercial poultry and beef industries. The Middle East and Africa region presents emerging opportunities, though market development is at a earlier stage, hindered by less structured farming practices and lower awareness, but is gradually evolving.

Company Insights

The probiotics in animal feed market is served by a roster of prominent companies that are pivotal in shaping industry trends and technological advancements. Chr. Hansen Holding A/S from Denmark is a global leader, renowned for its extensive collection of microbial strains and strong focus on research in animal health and nutrition. Koninklijke DSM N.V. of the Netherlands is another key player, offering a wide array of animal nutrition solutions, including probiotics under its branded products. Novozymes A/S, also based in Denmark, leverages its expertise in biotechnology and enzymes to develop effective microbial solutions. Other significant contributors include Lallemand Inc., which specializes in yeast-based probiotics, and Adisseo France SAS, known for its comprehensive feed additive portfolio. Companies like Evonik Industries AG and Bluestar Adisseo Company are also actively involved, investing heavily in R&D to discover new strains and demonstrate their efficacy through scientific trials, thereby strengthening their market positions.

Recent Developments

The probiotics in animal feed market is characterized by continuous innovation and strategic movements among key industry participants. A prominent recent development is the increased investment in research to identify and commercialize next-generation probiotic strains with enhanced functionality, such as those targeting specific pathogens or environmental stressors. Several leading companies have announced the expansion of their production capacities to meet the rising global demand, particularly in the Asia-Pacific region. There has been a noticeable trend of strategic collaborations and partnerships between probiotic manufacturers and academic research institutions to accelerate product development and validation. Furthermore, market players are focusing on obtaining regulatory approvals for new strains in different geographical markets, which is a critical step for commercialization. The development of combination products, such as synbiotics that merge probiotics with prebiotics, represents another significant area of recent activity, offering more comprehensive gut health solutions to farmers.

Report Segmentation

This comprehensive market report on probiotics in animal feed provides a detailed analysis segmented across multiple dimensions to offer a granular view of the industry. The segmentation is primarily based on type, categorizing the market into bacteria (further broken down into Lactobacillus, Bacillus, and others) and yeast (including Saccharomyces cerevisiae and others). The application segment analysis covers key animal types: poultry (broilers, layers, turkeys), swine, ruminants (dairy and beef cattle, calves), aquaculture (fish, shrimp), and others such as pets and horses. Geographically, the report provides an in-depth examination of major regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, with further country-level analysis for key markets within these regions. This multi-faceted segmentation allows stakeholders to understand specific dynamics, growth patterns, and opportunities within each distinct segment of the market.

FAQs

What are probiotics in animal feed?

Probiotics in animal feed are dietary supplements containing live beneficial microorganisms, such as specific bacteria and yeast strains. When administered in adequate amounts, these microbes confer a health benefit on the host animal by improving its intestinal microbial balance, enhancing nutrient absorption, bolstering the immune system, and helping to prevent the colonization of pathogenic bacteria.

What is the role of probiotics in animal feed?

The primary role of probiotics in animal feed is to promote and maintain a healthy gut microbiome in livestock, poultry, and aquaculture species. This leads to improved overall animal health, enhanced growth performance and feed efficiency, reduced incidence of digestive disorders, and a decreased reliance on antibiotic treatments, contributing to more sustainable and productive farming operations.

What are the benefits of probiotics in animal feed?

The benefits of incorporating probiotics into animal feed are multifaceted. They include improved animal growth rates and weight gain, better feed conversion ratios, enhanced disease resistance and reduced mortality, strengthened immune responses, lower shedding of zoonotic pathogens, and overall improved animal welfare. For producers, this translates to higher productivity, improved profitability, and the ability to meet consumer demand for antibiotic-free animal products.

How are probiotics used in animal feed?

Probiotics are used in animal feed primarily as direct-fed microbials. They are manufactured, stabilized, and then incorporated into feed formulations during the mixing process, either as a powder, liquid, or in encapsulated forms to protect viability. They can also be administered through water systems or, in aquaculture, directly added to the water. The dosage and specific strain used are carefully calibrated based on the animal species, age, and production goals.

What are the types of probiotics used in animal feed?

The main types of probiotics used in animal feed are bacterial probiotics and yeast-based probiotics. Bacterial probiotics predominantly include lactic acid bacteria like Lactobacillus, and spore-forming genera like Bacillus. Yeast probiotics most commonly feature strains of Saccharomyces cerevisiae. The selection is made based on the desired function, such as pathogen inhibition, enzyme production, or rumen stabilization, and the target animal's digestive system.

Citius Research has developed a research report titled “Probiotics in Animal Feed 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

• Probiotics in Animal Feed 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 Probiotics in Animal Feed 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.

Probiotics in Animal Feed Market Segmentation

Market Segmentation

Regions Covered

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

Probiotics in Animal Feed Market Analysis

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

• Overview of Probiotics in Animal Feed Market
• Research Methodology
• Executive Summary
• Market Dynamics of Probiotics in Animal Feed 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 Probiotics in Animal Feed Market
• Cost and Gross Margin Analysis of Probiotics in Animal Feed Market
• Probiotics in Animal Feed 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 “Probiotics in Animal Feed 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.

Probiotics in Animal Feed Market Key Stakeholders

Below are the key stakeholders for the Probiotics in Animal Feed Market:

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

Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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 Probiotics in Animal Feed 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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