Food Diagnostics 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: CR0196155
  • Format: Electronic (PDF)
  • Number of Pages: 209
  • Author(s): Joshi, Madhavi

Report Overview

The Food Diagnostics Market size was estimated at USD 5.2 billion in 2023 and is projected to reach USD 11 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Food Diagnostics Market

(Market Size)
$5.2 billion
$11 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.50%
2023 Market Size USD 5.2 billion
2030 Market Size USD 11 billion
Key Players Thermo Fisher Scientific, Agilent, Shimadzu, PerkinElmer, Mettler Toledo

Market Summary

The food diagnostics market is an integral component of the global food and beverage industry, dedicated to ensuring food safety, quality, and authenticity through advanced testing and detection technologies. This market encompasses a wide array of products and services designed to identify contaminants, pathogens, allergens, and adulterants in food products across the supply chain. The increasing incidence of foodborne illnesses and stringent regulatory frameworks imposed by authorities worldwide are primary factors propelling the adoption of food diagnostics solutions. Companies operating in this sector focus on developing rapid, accurate, and cost-effective diagnostic tools to meet the evolving demands of food manufacturers, processors, and retailers. The market is characterized by continuous innovation, with significant investments in research and development to enhance detection capabilities and streamline testing processes. As consumer awareness regarding food safety rises, the reliance on diagnostic technologies becomes more pronounced, driving market expansion. The integration of automation and digitalization in diagnostic procedures further augments efficiency and reliability, positioning the food diagnostics market as a critical enabler of public health and regulatory compliance.

Key Highlights

The food diagnostics market is distinguished by several key highlights that underscore its importance and growth trajectory. Advanced technologies such as polymerase chain reaction (PCR), immunoassays, and biosensors are revolutionizing pathogen and contaminant detection, offering high sensitivity and specificity. Leading companies like Thermo Fisher Scientific, bioM?rieux, and Neogen Corporation are at the forefront, providing comprehensive diagnostic solutions that cater to diverse food safety needs. The market is witnessing a surge in demand for rapid testing kits and systems that deliver results in minutes, significantly reducing downtime and enhancing operational efficiency for food businesses. Additionally, the emphasis on preventive measures rather than reactive responses is driving the adoption of diagnostic tools at various stages of production and distribution. The globalization of food supply chains necessitates robust diagnostic frameworks to mitigate risks associated with cross-contamination and adulteration, further fueling market growth. Innovations in portable and on-site testing devices are also gaining traction, enabling real-time monitoring and compliance checks, which are crucial for maintaining brand integrity and consumer trust.

Drivers, Opportunities & Restraints

The food diagnostics market is driven by a combination of factors that foster its development while facing certain restraints that challenge growth. Key drivers include the rising prevalence of foodborne diseases, which heightens the need for effective detection mechanisms, and stringent government regulations mandating rigorous food safety standards. Increasing consumer awareness and demand for safe, high-quality food products also propel market expansion. Opportunities abound in the form of technological advancements, such as the integration of artificial intelligence and machine learning for predictive analytics and automated testing processes. The growing trend towards organic and clean-label products opens new avenues for diagnostic applications to verify authenticity and purity. However, the market encounters restraints like high costs associated with advanced diagnostic equipment and reagents, which may limit adoption among small and medium-sized enterprises. Additionally, the lack of standardized protocols across regions can complicate compliance and interoperability. Despite these challenges, the continuous evolution of diagnostic technologies and increasing investment in food safety initiatives present significant growth potential for market participants.

Concentration Insights

The food diagnostics market exhibits a concentrated landscape with a few major players dominating the industry, alongside numerous specialized firms catering to niche segments. Companies such as Thermo Fisher Scientific, bioM?rieux, Neogen Corporation, and PerkinElmer hold significant market shares due to their extensive product portfolios, global presence, and strong research and development capabilities. These industry leaders focus on strategic acquisitions, partnerships, and innovations to strengthen their market position and expand their customer base. The concentration is also evident in the technological domain, where molecular diagnostics and immunoassays are predominant, driven by their accuracy and reliability. Regional players and startups are increasingly emerging, offering innovative solutions and intensifying competition. The market's concentration is further influenced by regulatory environments, with North America and Europe being highly regulated regions that foster the adoption of advanced diagnostic technologies. This competitive dynamics encourage continuous improvement and cost optimization, benefiting end-users through enhanced product offerings and service quality.

Type Insights

The food diagnostics market is segmented by type into various categories, including systems, consumables, and software, each playing a crucial role in ensuring food safety. Diagnostic systems encompass instruments like PCR machines, spectrometers, and chromatography systems, which are essential for detecting contaminants and pathogens with high precision. Consumables, such as reagents, test kits, and assays, are disposable components that facilitate the testing process and are in constant demand due to their recurrent use. Software solutions integrate with diagnostic equipment to manage data, automate processes, and ensure compliance with regulatory standards. Among these, rapid test kits are gaining significant traction due to their ease of use, portability, and ability to deliver quick results, making them ideal for on-site testing in production facilities and supply chains. The adoption of advanced technologies like biosensors and nanotechnology is also rising, offering enhanced detection capabilities for a broader range of contaminants. The diversity in product types allows food industry stakeholders to choose solutions that best fit their specific needs, driving innovation and customization in the market.

Application Insights

The application of food diagnostics spans multiple critical areas within the food and beverage industry, focusing primarily on safety and quality assurance. Key applications include pathogen detection, which identifies harmful microorganisms like Salmonella, E. coli, and Listeria to prevent foodborne illnesses. Allergen testing is another vital application, ensuring that products are free from common allergens such as peanuts, gluten, and dairy, which is crucial for consumer safety and regulatory compliance. GMO testing verifies the presence of genetically modified organisms, addressing consumer concerns and labeling requirements. Spoilage detection helps in identifying microbial contamination that leads to product degradation, thereby extending shelf life and reducing waste. Additionally, food diagnostics are used for authenticity testing to detect adulteration and mislabeling, such as in meat species identification or olive oil purity verification. These applications are essential across various segments, including meat and poultry, dairy products, fruits and vegetables, and processed foods, highlighting the comprehensive role of diagnostics in maintaining integrity throughout the food supply chain.

Regional Insights

The food diagnostics market demonstrates distinct regional dynamics influenced by regulatory frameworks, technological adoption, and consumer behavior. North America holds a significant market share, driven by stringent food safety regulations enforced by agencies like the FDA and USDA, high consumer awareness, and the presence of major diagnostic companies. Europe follows closely, with robust regulatory standards from bodies such as EFSA and a strong emphasis on quality and authenticity, particularly in countries like Germany and France. The Asia-Pacific region is experiencing rapid growth due to increasing urbanization, rising disposable incomes, and growing concerns about food safety, with countries like China and India investing heavily in diagnostic infrastructure. Latin America and the Middle East & Africa are emerging markets, where improving regulatory standards and expanding food industries are fostering adoption. Each region presents unique opportunities and challenges, with localized trends such as the demand for halal certification in Muslim-majority countries or organic verification in Western markets shaping the diagnostic landscape and driving regional strategies for market players.

Company Insights

The food diagnostics market features a competitive landscape with several key companies leading innovation and market presence. Thermo Fisher Scientific is a prominent player, offering a wide range of diagnostic solutions including advanced instruments and reagents for pathogen and allergen detection. bioM?rieux specializes in microbiology and immunoassay technologies, providing rapid testing systems that are widely used in food safety applications. Neogen Corporation focuses on developing diagnostic kits and tests for toxins, allergens, and pathogens, emphasizing user-friendly and reliable products. PerkinElmer is known for its analytical instruments and software that enhance detection accuracy and data management. Other significant players include Qiagen, with its molecular diagnostics expertise, and Merck KGaA, offering comprehensive testing solutions. These companies invest heavily in research and development to introduce cutting-edge technologies, such as next-generation sequencing and automated platforms, to stay competitive. Strategic collaborations, mergers, and acquisitions are common, enabling firms to expand their product portfolios and geographic reach, thereby strengthening their market positions and addressing the evolving needs of the food industry.

Recent Developments

Recent developments in the food diagnostics market reflect a trend towards innovation, automation, and expansion to meet growing food safety demands. Companies are increasingly integrating artificial intelligence and machine learning into diagnostic systems to enhance predictive capabilities and automate data analysis, improving accuracy and efficiency. There has been a surge in the development of portable and rapid testing devices that enable on-site detection, reducing the time and cost associated with laboratory testing. Strategic acquisitions and partnerships are prevalent, such as Thermo Fisher Scientific's acquisition of Qiagen, which aims to bolster its molecular diagnostics portfolio. bioM?rieux has launched new automated platforms for high-throughput screening, catering to large-scale food producers. Additionally, there is a growing focus on sustainability, with efforts to develop eco-friendly diagnostic products and reduce waste. Regulatory approvals for novel testing methods are also on the rise, facilitating faster adoption of innovative technologies. These developments underscore the market's dynamic nature, driven by technological advancements and the continuous pursuit of enhanced food safety solutions to address global challenges.

Report Segmentation

The food diagnostics market report is segmented to provide a detailed analysis of various aspects influencing the industry. Segmentation by type includes systems, consumables, and software, each critical for different diagnostic applications and offering insights into product demand and innovation trends. By technology, the market is divided into molecular diagnostics, immunoassays, chromatography, and biosensors, highlighting the technological advancements and adoption rates across these categories. Application-based segmentation covers pathogen detection, allergen testing, GMO analysis, spoilage detection, and authenticity testing, reflecting the diverse needs of the food industry. Geographically, the report examines North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, analyzing regional regulatory environments, market growth, and competitive landscapes. Additionally, segmentation by end-user includes food manufacturers, processors, retailers, and regulatory bodies, offering perspectives on demand drivers and usage patterns. This comprehensive segmentation enables stakeholders to identify key growth areas, understand market dynamics, and make informed decisions based on detailed, categorized insights into the food diagnostics landscape.

FAQs

What are the common technologies used in food diagnostics? Common technologies include polymerase chain reaction (PCR) for DNA-based detection, immunoassays for antigen-antibody reactions, chromatography for separating and analyzing compounds, and biosensors for real-time monitoring of contaminants.

How does food diagnostics help in allergen management? Food diagnostics detect and quantify allergens like peanuts, gluten, and dairy in products, ensuring accurate labeling and preventing cross-contamination, which is vital for consumer safety and regulatory compliance.

What drives the growth of the food diagnostics market? Growth is driven by increasing foodborne illnesses, stringent government regulations, rising consumer awareness about food safety, and technological advancements in rapid testing methods.

Which regions lead in the adoption of food diagnostics? North America and Europe lead due to strict regulatory standards and high consumer awareness, while Asia-Pacific is rapidly growing owing to urbanization and increasing food safety concerns.

What are the challenges faced by the food diagnostics industry? Challenges include high costs of advanced diagnostic equipment, lack of standardized testing protocols across regions, and the need for skilled personnel to operate complex systems.

Citius Research has developed a research report titled “Food Diagnostics 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

• Food Diagnostics 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 Food Diagnostics 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.

Food Diagnostics Market Segmentation

Market Segmentation

Regions Covered

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

Food Diagnostics Market Analysis

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

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

Food Diagnostics Market Key Stakeholders

Below are the key stakeholders for the Food Diagnostics Market:

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

Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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 Food Diagnostics 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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