European Food Safety Testing 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: CR0196139
  • Format: Electronic (PDF)
  • Number of Pages: 208
  • Author(s): Joshi, Madhavi

Report Overview

The European Food Safety Testing 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 12.00% during the forecast period (2024-2030).

European Food Safety Testing 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) 12.00%
2023 Market Size USD 3.8 billion
2030 Market Size USD 8.5 billion
Key Players SGS, Eurofins, Intertek, Bureau Veritas, ALS Limited

Market Summary

The European food safety testing market is a critical and expanding segment within the food and beverages industry, dedicated to ensuring the quality and safety of food products consumed across the region. This market is characterized by a sophisticated network of laboratories, technology providers, and regulatory bodies working in concert to mitigate risks associated with foodborne illnesses and contamination. The demand for rigorous testing protocols is driven by stringent European Union regulations, heightened consumer awareness regarding food quality, and the increasing complexity of global food supply chains. Key testing parameters include pathogens, pesticides, genetically modified organisms (GMOs), and allergens, among others. Companies operating in this space are continually investing in advanced technologies such as rapid testing methods and molecular diagnostics to enhance accuracy and reduce turnaround times. The market's growth is further supported by the rising consumption of processed and packaged foods, which necessitates comprehensive safety checks to comply with established standards and maintain consumer trust.

Key Highlights

The European food safety testing market is distinguished by several key highlights that underscore its dynamism and importance. A primary feature is the region's exceptionally strict regulatory framework, governed largely by the European Food Safety Authority (EFSA), which sets high benchmarks for food safety and quality that must be adhered to by all member states. This has catalyzed the adoption of advanced testing technologies, including PCR-based assays, immunoassays, and chromatography techniques, which offer high sensitivity and specificity. Another significant highlight is the increasing consumer demand for transparency and clean-label products, pushing manufacturers to implement more rigorous and frequent testing throughout their production processes. The market also sees a trend towards the outsourcing of testing services to specialized third-party laboratories, as food producers seek expertise and cost efficiencies. Furthermore, the focus on rapid on-site testing solutions is gaining momentum, allowing for immediate corrective actions and enhancing overall supply chain safety.

Drivers, Opportunities & Restraints

The growth of the European food safety testing market is propelled by a combination of powerful drivers, promising opportunities, and notable restraints. Key drivers include the implementation of stringent food safety regulations and standards mandated by the EU, which compel food producers to conduct regular and comprehensive testing. Increasing incidences of foodborne illnesses and product recalls have also heightened awareness and necessitated robust safety measures. Additionally, the globalization of food supply chains introduces complex risks, further driving the need for advanced testing protocols to ensure imported foods meet European safety criteria. Significant opportunities exist in the development and integration of rapid testing technologies that provide faster results and are easier to deploy at various points in the supply chain. The growing consumer interest in organic, non-GMO, and allergen-free foods opens new avenues for specialized testing services. However, the market faces restraints such as the high cost of advanced testing equipment and the need for skilled personnel to operate sophisticated instruments, which can be a barrier for smaller enterprises. The lack of harmonization in testing standards across different European countries can also create challenges for multinational food companies.

Concentration Insights

The European food safety testing market exhibits a concentration that is characterized by the presence of both large multinational corporations and specialized regional players. The market is relatively consolidated, with leading companies such as SGS SA, Eurofins Scientific, Bureau Veritas, and Intertek Group plc holding significant shares. These major players possess extensive laboratory networks across Europe and offer a broad portfolio of testing services, leveraging their global expertise and brand reputation. They compete on the basis of technological advancement, service accuracy, turnaround time, and geographic coverage. Alongside these giants, there is a substantial number of smaller, niche laboratories that focus on specific testing parameters or cater to local markets, often providing personalized services. The concentration is also influenced by ongoing mergers and acquisitions, as larger entities seek to expand their capabilities and geographic footprint. This competitive landscape ensures a high standard of service but also pressures companies to continuously innovate and improve their offerings to maintain and grow their market position.

Type Insights

In the European food safety testing market, testing is segmented into various types based on the contaminants and parameters analyzed. Pathogen testing represents a dominant segment due to the critical need to detect harmful microorganisms like Salmonella, Listeria, and E. coli that can cause serious foodborne illnesses. This is followed by testing for pesticides and residues, which is crucial for ensuring compliance with maximum residue levels (MRLs) set by regulatory authorities, particularly for fruit and vegetable imports. Genetically modified organism (GMO) testing is another significant category, driven by strict EU labeling laws and consumer skepticism towards bioengineered foods. Allergen testing has gained considerable importance with the rising prevalence of food allergies, requiring manufacturers to accurately detect and label potential allergens like nuts, gluten, and soy. Other key testing types include analysis for toxins, such as mycotoxins in grains, and nutritional labeling verification to ensure the accuracy of product information presented to consumers.

Application Insights

The application of food safety testing in Europe spans across various categories within the food and beverages industry. Meat and poultry products constitute a major application segment, subjected to rigorous testing for pathogens, veterinary drug residues, and other contaminants due to their high-risk nature. The dairy industry is another critical application area, with testing focused on antibiotics, adulterants, and microbiological quality to ensure product safety from farm to table. Processed foods represent a rapidly growing segment, as their complex ingredients and longer shelf lives necessitate comprehensive checks for preservatives, additives, and contaminants. Fruit and vegetable testing is essential for monitoring pesticide residues and microbial contamination, especially with a high volume of produce being imported. Beverages, including alcoholic and non-alcoholic drinks, are tested for impurities, chemical residues, and labeling accuracy. This diverse application landscape ensures that every facet of the food supply chain is monitored to uphold the highest safety standards for European consumers.

Regional Insights

The European food safety testing market demonstrates distinct characteristics across its various regions, influenced by local regulations, dietary habits, and economic factors. Western Europe, including major economies like Germany, France, and the United Kingdom, represents the most mature and largest market share. This region has well-established regulatory frameworks, high consumer awareness, and a strong presence of leading testing companies and advanced laboratory infrastructure. Southern European countries, such as Italy and Spain, with their significant agricultural and seafood sectors, show strong demand for residue and contaminant testing in fresh produce and seafood products. Northern Europe, including the Nordic countries, is characterized by high standards for organic and sustainable food products, driving specialized testing in these areas. Eastern Europe is an emerging region for food safety testing, with growth fueled by the modernization of food safety regulations to align with EU standards and increasing investment in food production and processing capabilities. This regional diversity necessitates tailored approaches to testing and offers varied growth opportunities across the continent.

Company Insights

The competitive landscape of the European food safety testing market is shaped by several key players who drive innovation and set industry standards. Eurofins Scientific stands as a global leader, with an extensive network of laboratories across Europe offering a wide array of testing services for food, environmental, and pharmaceutical products. SGS SA is another major force, providing comprehensive inspection, verification, testing, and certification services, leveraging its global reach and expertise. Bureau Veritas is renowned for its quality assurance and testing services, helping clients comply with stringent food safety regulations. Intertek Group plc offers a broad spectrum of assurance, testing, inspection, and certification services to the food industry. These companies compete not only on the scale of their operations but also on their technological capabilities, investing heavily in research and development to introduce faster, more accurate, and cost-effective testing solutions. Their strategies often include geographic expansion through acquisitions and partnerships to strengthen their market presence and service offerings.

Recent Developments

The European food safety testing market has witnessed several significant recent developments that reflect its evolving nature and response to new challenges. A prominent trend is the accelerated adoption of rapid testing technologies and portable devices that enable on-site detection of contaminants, reducing reliance on centralized laboratories and speeding up the testing process. There has been a notable increase in strategic mergers and acquisitions, as leading companies like Eurofins and SGS acquire smaller specialized laboratories to expand their service portfolios and geographic coverage. The market has also seen a surge in demand for testing services related to novel food ingredients and alternative proteins, such as plant-based and insect-based products, as they gain consumer acceptance. Furthermore, the integration of digital technologies, including blockchain for traceability and data analytics for predicting contamination risks, is becoming more prevalent. These developments are collectively enhancing the efficiency, scope, and reliability of food safety testing across Europe.

Report Segmentation

This market research report on the European food safety testing market provides a detailed and structured analysis through comprehensive segmentation. The report is segmented by type of test, which includes key categories such as pathogen testing, pesticide and residue testing, genetically modified organism (GMO) testing, allergen testing, and others like mycotoxin and nutritional labeling analysis. This allows readers to understand the demand and technological advancements in each specific testing domain. Furthermore, the report is segmented by application, covering major food segments like meat and poultry, dairy products, processed foods, fruits and vegetables, and beverages. This application-based segmentation offers insights into which food categories are driving testing demand and the unique safety concerns associated with each. Additionally, the report provides a geographical segmentation, breaking down the market into key regional markets such as Western Europe, Eastern Europe, Southern Europe, and Northern Europe, highlighting regional regulatory differences, market sizes, and growth patterns. This multi-faceted segmentation provides a holistic view of the market dynamics.

FAQs

What are the main types of food safety tests conducted in Europe?

The main types of food safety tests conducted in Europe encompass pathogen detection, pesticide and chemical residue analysis, genetically modified organism (GMO) screening, allergen testing, and checks for toxins such as mycotoxins. Each test is designed to identify specific contaminants that could compromise food safety and violate stringent EU regulations.

Which companies are the leaders in the European food testing market?

The European food testing market is led by globally recognized companies including Eurofins Scientific, SGS SA, Bureau Veritas, and Intertek Group plc. These firms operate extensive laboratory networks and provide a comprehensive suite of testing, inspection, and certification services to the food industry across the region.

How are food safety regulations enforced in the European Union?

Food safety regulations in the European Union are primarily enforced through a framework established by the European Food Safety Authority (EFSA), which provides scientific advice and communication on risks. Member states have national authorities that conduct inspections, monitoring, and control measures to ensure compliance with regulations such as the General Food Law, often resulting in mandatory testing protocols for food businesses.

What is driving the growth of the food safety testing market in Europe?

The growth of the food safety testing market in Europe is driven by the implementation of strict government regulations, a rise in foodborne illness outbreaks and subsequent recalls, increasing consumer awareness about food quality, and the complexities introduced by globalized food supply chains which require vigilant safety checks.

What are the emerging technologies in food safety testing?

Emerging technologies in food safety testing include rapid methods like polymerase chain reaction (PCR) and immunoassays for faster pathogen detection, biosensors for on-site analysis, next-generation sequencing for detailed microbiological characterization, and the use of blockchain technology to improve traceability and transparency throughout the food supply chain.

Citius Research has developed a research report titled “European Food Safety Testing Market Report - 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

• European Food Safety Testing Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The European Food Safety Testing Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

European Food Safety Testing Market Segmentation

Market Segmentation

Regions Covered

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

European Food Safety Testing Market Analysis

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

• Overview of European Food Safety Testing Market
• Research Methodology
• Executive Summary
• Market Dynamics of European Food Safety Testing Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of European Food Safety Testing Market
• Cost and Gross Margin Analysis of European Food Safety Testing Market
• European Food Safety Testing Market Report - 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 “European Food Safety Testing Market Report - 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.

European Food Safety Testing Market Key Stakeholders

Below are the key stakeholders for the European Food Safety Testing Market:

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

European Food Safety Testing Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the European Food Safety Testing Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the European Food Safety Testing Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in European Food Safety Testing Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global European Food Safety Testing Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global European Food Safety Testing Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global European Food Safety Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global European Food Safety Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global European Food Safety Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global European Food Safety Testing Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America European Food Safety Testing Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America European Food Safety Testing Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe European Food Safety Testing Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA European Food Safety Testing Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific European Food Safety Testing Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa European Food Safety Testing Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia European Food Safety Testing Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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