Starter Cultures 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: CR0196222
  • Format: Electronic (PDF)
  • Number of Pages: 193
  • Author(s): Joshi, Madhavi

Report Overview

The Starter Cultures Market size was estimated at USD 1.8 billion in 2023 and is projected to reach USD 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.50% during the forecast period (2024-2030).

Starter Cultures Market

(Market Size)
$1.8 billion
$4 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.50%
2023 Market Size USD 1.8 billion
2030 Market Size USD 4 billion
Key Players Chr. Hansen, DuPont, DSM, Kerry, Lallemand

Market Summary

The starter cultures market is a critical and expanding segment within the global food and beverages industry, fundamentally centered on the production of microorganisms used to initiate and control fermentation processes. These live bacteria and yeast strains are indispensable for manufacturing a wide array of fermented products, ensuring consistent quality, flavor, texture, and safety. The market is characterized by continuous innovation in strain development, with a strong focus on enhancing product functionality, extending shelf life, and meeting the rising consumer demand for natural and clean-label ingredients. Key players are heavily invested in research and development to create specialized cultures that cater to specific regional tastes and emerging product categories. The industry's growth is inextricably linked to the broader trends in the dairy, meat, and alcoholic beverages sectors, making it a vital component of the modern food supply chain. Its dynamics are shaped by technological advancements in biotechnology and a deepening understanding of microbial applications in food science.

Key Highlights

The starter cultures market is distinguished by several pivotal factors that underscore its importance. A primary highlight is the critical role these cultures play in ensuring food safety by outcompeting pathogenic and spoilage microorganisms, thereby naturally preserving products without the need for excessive artificial preservatives. The market is also witnessing a significant trend towards the development of multifunctional cultures that not only ferment but also impart specific health benefits, such as probiotics, aligning with the burgeoning health and wellness movement. Furthermore, there is a notable surge in demand for organic and non-genetically modified organism (GMO) starter cultures, driven by discerning consumer preferences for natural food production methods. The technological sophistication involved in freeze-drying and deep-freezing these live microorganisms for storage and transportation represents a major operational achievement within the industry. The strategic collaborations and acquisitions among leading biotechnology firms highlight the competitive and innovative nature of this market.

Drivers, Opportunities & Restraints

The expansion of the starter cultures market is propelled by several powerful drivers. The most significant is the escalating global consumer demand for fermented food and beverages, including yogurt, cheese, sourdough bread, fermented meats, and craft beers, which inherently require these cultures. A parallel driver is the increasing health consciousness among consumers, who actively seek out probiotic-rich foods for digestive and immune health benefits, a property directly provided by specific bacterial strains. The stringent food safety regulations imposed by governments worldwide also act as a catalyst, mandating the use of standardized cultures to ensure product consistency and safety. A major opportunity lies in the exploration and commercialization of novel strains from unique sources, which can lead to new flavors and improved functional properties in end-products. However, the market faces restraints, including the high cost associated with research, development, and the production of specialized cultures. Additionally, the need for precise temperature control throughout the cold chain logistics for live microorganism viability presents a significant operational and financial challenge for manufacturers.

Concentration Insights

The competitive landscape of the global starter cultures market is moderately concentrated, featuring a mix of large multinational corporations and specialized niche players. A handful of established biotechnology giants, such as Chr. Hansen, DuPont, and DSM, command a significant portion of the market share. These companies possess extensive research capabilities, broad product portfolios spanning multiple applications, and a strong global distribution network, giving them a formidable competitive edge. Their dominance is reinforced by continuous investment in proprietary strain development and strategic acquisitions of smaller firms to bolster their technological expertise. Alongside these leaders, numerous regional and application-specific players compete effectively by offering tailored solutions for local dairy, meat, or alcohol producers. This structure fosters a highly innovative environment where competition is based on technological superiority, product efficacy, and the ability to form long-term partnerships with major food and beverage manufacturers.

Type Insights

Starter cultures are broadly categorized based on their composition and functionality, primarily into multi-strain mixed, single-strain, and multi-strain defined cultures. Multi-strain mixed cultures consist of undefined mixtures of microorganisms and are traditionally valued for their robustness and ability to produce complex flavor profiles, commonly used in cheese and sourdough production. Single-strain cultures contain a single, well-defined microbial species and are prized for their predictability and control, making them ideal for specific fermentation steps or for producing standardized industrial products like certain yogurts. Multi-strain defined cultures represent the cutting edge, comprising a specific and known combination of strains selected to deliver precise attributes such as accelerated fermentation, phage resistance, or specific health benefits. Beyond bacteria, yeast and mold cultures form another crucial segment, essential for producing alcoholic beverages, certain cheeses like blue cheese, and fermented soy products. The selection of culture type is a critical decision for manufacturers, directly influencing the organoleptic properties, texture, and functional benefits of the final food product.

Application Insights

The application of starter cultures is vast and predominantly segmented into dairy, meat, and alcoholic beverages. The dairy industry remains the largest and most traditional application segment, utilizing cultures extensively in the production of cheese, yogurt, buttermilk, sour cream, and other fermented milk products. In this segment, cultures are responsible for acidification, flavor development, and texture formation. The meat application segment is growing steadily, where starter cultures are used in the production of fermented sausages like salami and pepperoni to ensure safety, develop characteristic tangy flavors, and achieve desired curing colors. Within alcoholic beverages, yeast cultures are fundamental for fermenting sugars into alcohol and carbon dioxide in beer, wine, and spirits production. Furthermore, cultures are finding new applications in the fermentation of vegetables for products like sauerkraut and kimchi, and in the development of non-dairy alternatives such as fermented plant-based yogurts and cheeses, representing a promising growth frontier.

Regional Insights

The demand and production of starter cultures exhibit distinct regional patterns influenced by dietary habits and industrial development. Europe stands as the historically dominant region, driven by its deep-rooted tradition of cheese-making and fermented meat products. Countries like Denmark, France, and the Netherlands are global hubs for culture production, housing several leading companies. North America represents another major market, characterized by high consumption of yogurt and cheese and a strong presence of key industry players. The Asia Pacific region is identified as the fastest-growing market, fueled by rising disposable incomes, urbanization, and the increasing adoption of Western dietary habits, which is boosting the demand for dairy and baked goods. Emerging economies in Latin America and the Middle East and Africa are also witnessing gradual growth, supported by the expansion of local food processing industries and increasing awareness of food safety standards, creating new opportunities for market penetration.

Company Insights

The starter cultures market is led by a cohort of specialized biotechnology and food ingredient companies that drive innovation and set industry standards. Chr. Hansen Holding A/S, a Danish company, is a globally recognized leader, renowned for its extensive portfolio of microbial solutions for dairy, meat, and pharma. International Flavors & Fragrances Inc. (IFF), following its merger with DuPont's Nutrition & Biosciences division, is another powerhouse, offering a wide spectrum of cultures and enzymes under the Danisco brand. Koninklijke DSM N.V. (DSM) from the Netherlands is a key player, focusing on health and nutrition through its innovative culture offerings. Sacco S.r.l., an Italian firm, has a strong reputation, particularly in the dairy culture segment. Other significant contributors include Biochem S.r.l., Dalton Biotecnologie, and Lactina Ltd., which often specialize in specific regional markets or application niches. These companies compete intensely on the basis of research and development prowess, product quality, and the ability to provide comprehensive technical support to their customers.

Recent Developments

The starter cultures market is dynamic, with recent developments focused on sustainability, health, and technological innovation. A prominent trend is the increased investment in developing probiotic strains with clinically proven health benefits beyond basic digestion, targeting areas like mental wellness and metabolic health. Companies are also launching cultures specifically designed for the rapidly growing plant-based fermentation segment, enabling the production of dairy-free yogurt, cheese, and fermented drinks with improved taste and texture. Sustainability initiatives are gaining traction, with efforts to optimize production processes to reduce energy and water consumption. Furthermore, advancements in precision fermentation and microbiome research are opening new avenues for creating novel ingredients and flavors. Strategic movements have continued, with leading firms acquiring smaller biotech startups to gain access to proprietary strains and cutting-edge technology, thereby consolidating their market position and expanding their innovative capabilities to meet future challenges.

Report Segmentation

This comprehensive market research report on the starter cultures industry provides a detailed and structured analysis to furnish businesses with actionable intelligence. The report is meticulously segmented to allow for a deep dive into specific areas of interest. The segmentation is primarily based on type, distinguishing between bacterial, yeast, and mold cultures, with further breakdown into multi-strain mixed, single-strain, and multi-strain defined categories. The application segmentation covers the key end-use industries: dairy, meat, alcoholic beverages, and others which include plant-based and vegetable fermentation. Geographically, the market is analyzed across major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with further country-level analysis for the most significant markets. This multi-dimensional segmentation enables stakeholders to understand niche trends, identify growth pockets, evaluate the competitive landscape for specific product types, and formulate region-specific strategies for market entry or expansion.

FAQs

What are starter cultures? Starter cultures are preparations of live microorganisms, including specific bacteria, yeast, or molds, which are intentionally used to initiate and control the fermentation process in food and beverage production. They are essential for developing the desired flavor, aroma, texture, and safety in products like cheese, yogurt, sausage, bread, and beer.

How are starter cultures used in food production? In food production, starter cultures are inoculated into a raw substrate, such as milk or meat. The microorganisms then metabolize the available nutrients, primarily producing lactic acid or alcohol. This acidification or alcoholic fermentation preserves the food, inhibits the growth of spoilage organisms, and creates the characteristic sensory properties of the final product.

What is the difference between probiotics and starter cultures? While all probiotics are microorganisms, not all starter cultures are probiotics. Starter cultures are primarily selected for their ability to efficiently ferment a food substrate. Probiotics are a specific subset of microorganisms that, when administered in adequate amounts, confer a documented health benefit on the host. Some starter cultures, particularly in dairy, are also chosen for their probiotic properties.

Which companies are the key players in the starter cultures market? The market is led by several major biotechnology companies. Prominent players include Chr. Hansen Holding A/S, International Flavors & Fragrances Inc. (IFF) with its Danisco line, Koninklijke DSM N.V., Sacco S.r.l., and Biochem S.r.l. These companies are known for their extensive research, broad product portfolios, and global reach.

What are the main applications of starter cultures? The main applications of starter cultures are overwhelmingly found in the dairy industry for products like cheese and yogurt. They are also critically important in meat processing for fermented sausages, in baking for sourdough breads, and in beverage production for beer, wine, and spirits. New applications in plant-based food fermentation are emerging rapidly.

Citius Research has developed a research report titled “Starter Cultures 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

• Starter Cultures 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 Starter Cultures 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.

Starter Cultures Market Segmentation

Market Segmentation

Regions Covered

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

Starter Cultures Market Analysis

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

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

Starter Cultures Market Key Stakeholders

Below are the key stakeholders for the Starter Cultures Market:

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

Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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 Starter Cultures 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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