Biorationals Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0196326
  • Format: Electronic (PDF)
  • Number of Pages: 187
  • Author(s): Joshi, Madhavi

Report Overview

The Biorationals Market size was estimated at USD 3.8 billion in 2023 and is projected to reach USD 8.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.30% during the forecast period (2024-2030).

Biorationals Market

(Market Size)
$3.8 billion
$8.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 12.30%
2023 Market Size USD 3.8 billion
2030 Market Size USD 8.5 billion
Key Players Bayer, Syngenta, BASF, UPL, Corteva

Market Summary

The biorationals market within the food and beverages industry represents a rapidly evolving segment focused on sustainable agricultural inputs derived from biological origins. These products, including biopesticides, biofungicides, and biofertilizers, are gaining significant traction as alternatives to conventional synthetic chemicals. The market is driven by the increasing consumer demand for organic and residue-free food products, coupled with stringent regulatory frameworks limiting chemical pesticide usage. Key players are investing in research and development to enhance product efficacy and expand application ranges. The adoption of integrated pest management (IPM) practices further propels market growth, as biorationals offer targeted action with minimal environmental impact. Geographically, North America and Europe lead in adoption due to advanced agricultural practices and high consumer awareness, while Asia-Pacific shows promising growth potential owing to expanding agricultural sectors and government initiatives promoting sustainable farming.

Key Highlights

The biorationals market is characterized by its strong alignment with global sustainability trends and the circular economy. A key highlight is the innovative use of botanical extracts, microbials, and semiochemicals to develop products that are effective yet environmentally benign. Companies like Bayer AG, BASF SE, and Syngenta AG are at the forefront, launching novel solutions that cater to specific crop needs. The market benefits from collaborations between agricultural giants and biotech startups, fostering innovation and accelerating product commercialization. Another significant aspect is the growing integration of digital agriculture tools, such as precision farming technologies, which optimize the application of biorationals, enhancing their efficiency and reducing waste. The regulatory landscape is increasingly supportive, with faster approval processes for bio-based products in many regions, facilitating market entry and expansion.

Drivers, Opportunities & Restraints

Primary drivers of the biorationals market include escalating consumer preference for organic food, heightened awareness of environmental sustainability, and stringent government regulations phasing out hazardous agrochemicals. The push for food security and the need to improve crop yields without compromising ecological balance further accelerate adoption. Significant opportunities lie in the untapped potential of emerging economies, where agricultural modernization is underway, and in the development of next-generation biorationals with enhanced stability and broader spectrum efficacy. However, the market faces restraints such as higher costs compared to conventional chemicals, limited shelf life of some biological products, and challenges in achieving consistent performance under varying field conditions. Overcoming these barriers through technological advancements and educational initiatives for farmers is crucial for sustained market growth.

Concentration Insights

The competitive landscape of the biorationals market is moderately concentrated, with a mix of multinational corporations and specialized niche players dominating the scene. Leading companies like UPL Limited, Marrone Bio Innovations, and Valent BioSciences leverage extensive R&D capabilities and robust distribution networks to maintain significant market shares. There is a noticeable trend of strategic acquisitions and partnerships, as larger firms seek to enhance their biological portfolios by integrating innovative technologies from smaller enterprises. Regional players also hold substantial influence in local markets, often focusing on specific crop types or indigenous biological sources. The market concentration is evolving with increased investment flow into bio-agriculture, prompting more entrants and intensifying competition, which ultimately drives innovation and product diversification.

Type Insights

Biorationals are categorized primarily into biopesticides, biofertilizers, and biostimulants, each playing a distinct role in sustainable agriculture. Biopesticides, including microbial pesticides and botanical insecticides, are widely used for pest control with minimal non-target effects. Biofertilizers, such as nitrogen-fixing and phosphate-solubilizing microbes, enhance soil fertility and nutrient uptake, reducing dependency on chemical fertilizers. Biostimulants, comprising seaweed extracts and amino acids, promote plant growth and stress tolerance. Among these, biopesticides hold a substantial market share due to their critical role in integrated pest management programs and their effectiveness against resistant pest strains. Continuous research is expanding the scope of these types, with innovations like RNA interference-based products and microbial consortia gaining attention for their precision and efficacy.

Application Insights

In the food and beverages industry, biorationals find extensive application in crop protection, soil health management, and yield enhancement. They are pivotal in producing high-value crops such as fruits, vegetables, and cereals, where residue tolerance is low and consumer safety is paramount. Post-harvest applications are also emerging, utilizing biorationals to extend shelf life and reduce spoilage during storage and transportation. The beverage sector, particularly vineyards and orchards supplying raw materials, increasingly adopts these solutions to meet organic certification standards and cater to premium markets. The versatility of biorationals allows for use in various farming systems, from conventional to organic, making them integral to modern agricultural practices aimed at sustainability and productivity.

Regional Insights

Regionally, North America and Europe are mature markets for biorationals, driven by advanced agricultural practices, strong regulatory support for sustainable products, and high consumer awareness. The United States, with its well-established organic food sector, and countries like Germany and France, with stringent environmental policies, are key contributors. The Asia-Pacific region is experiencing rapid growth due to expanding agricultural activities, government initiatives promoting green agriculture, and increasing investments from global players. Latin America and the Middle East & Africa are emerging markets, with potential fueled by the need to improve agricultural output and growing export demands for organic produce. Each region presents unique dynamics influenced by local crop patterns, regulatory environments, and adoption rates of innovative agricultural technologies.

Company Insights

Prominent companies in the biorationals market include Bayer AG, BASF SE, Syngenta AG, UPL Limited, and Marrone Bio Innovations. Bayer AG emphasizes its BioSolutions platform, integrating biologicals with digital tools for precision agriculture. BASF SE focuses on expanding its biological crop protection portfolio through acquisitions and in-house research. Syngenta AG leverages its global reach to promote integrated solutions combining chemicals and biologicals. UPL Limited strengthens its position via strategic partnerships and a diverse product range targeting various crops. Marrone Bio Innovations specializes in innovative microbial and botanical products, often catering to niche segments. These companies invest heavily in R&D to develop advanced formulations, improve efficacy, and address specific regional challenges, thereby consolidating their market presence and driving industry standards.

Recent Developments

Recent developments in the biorationals market highlight a wave of innovation and strategic movements. Key players have launched new products, such as Bayer's latest biological fungicide and BASF's novel bioinsecticide, designed for enhanced efficacy and broader application. acquisitions have been prominent, with Syngenta acquiring Valagro, a leading biostimulant company, to bolster its biological offerings. Partnerships between agricultural technology firms and research institutions are accelerating the development of next-generation biorationals, including those based on RNAi technology. Regulatory approvals for new active ingredients have increased, facilitating market expansion. Additionally, companies are focusing on sustainability commitments, aligning product portfolios with carbon footprint reduction goals and circular economy principles, reflecting the industry's shift towards greener solutions.

Report Segmentation

This comprehensive report on the biorationals market is segmented to provide detailed analysis across multiple dimensions. It covers types such as biopesticides, biofertilizers, and biostimulants, delving into their sub-categories and market dynamics. Application segmentation includes crop-based uses like cereals, fruits, vegetables, and non-crop applications, highlighting specific needs and adoption patterns. The report also segments by source, distinguishing between botanical, microbial, and non-organic biorationals. Geographically, it offers in-depth analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, examining regional trends, key countries, and growth drivers. This structured approach ensures a holistic view of the market, catering to stakeholders seeking targeted insights for strategic decision-making.

FAQs

What are biorationals? Biorationals are derived from natural sources and include biopesticides, biofertilizers, and biostimulants used in agriculture for pest control, soil health, and plant growth enhancement with minimal environmental impact.

How do biorationals work? They work through specific mechanisms like disrupting pest life cycles, enhancing nutrient availability, or stimulating plant defense systems, offering targeted action unlike broad-spectrum synthetic chemicals.

What is driving the growth of the biorationals market? Key drivers include increasing demand for organic food, stringent regulations against chemical pesticides, and the adoption of sustainable farming practices globally.

Which regions are leading in biorationals adoption? North America and Europe are leaders due to advanced agriculture and supportive policies, while Asia-Pacific is rapidly growing due to agricultural expansion and government initiatives.

Who are the key players in the biorationals market? Major companies include Bayer AG, BASF SE, Syngenta AG, UPL Limited, and Marrone Bio Innovations, who focus on innovation and expanding their biological product portfolios.

Citius Research has developed a research report titled “Biorationals 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

• Biorationals 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 Biorationals 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.

Biorationals Market Segmentation

Market Segmentation

Regions Covered

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

Biorationals Market Analysis

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

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

Biorationals Market Key Stakeholders

Below are the key stakeholders for the Biorationals Market:

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

Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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 Biorationals 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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