Food Fortifying Agents 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: CR0196157
  • Format: Electronic (PDF)
  • Number of Pages: 190
  • Author(s): Joshi, Madhavi

Report Overview

The Food Fortifying Agents Market size was estimated at USD 12.5 billion in 2023 and is projected to reach USD 25 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2024-2030).

Food Fortifying Agents Market

(Market Size)
$12.5 billion
$25 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.00%
2023 Market Size USD 12.5 billion
2030 Market Size USD 25 billion
Key Players DSM, BASF, ADM, Glanbia, SternVitamin

Market Summary

The food fortifying agents market is a critical segment within the global food and beverages industry, focused on enhancing the nutritional profile of various food products. These agents, which include vitamins, minerals, proteins, and other essential nutrients, are added to address widespread nutrient deficiencies and meet the rising consumer demand for healthier food options. The market is driven by increasing health consciousness, government initiatives promoting fortified foods, and the growing prevalence of malnutrition and lifestyle diseases. Key players are continuously innovating to develop effective and stable fortification solutions that do not compromise taste or texture. The market encompasses a wide range of applications, from staple foods like flour and milk to beverages and snacks, catering to diverse demographic needs. With advancements in food technology and a shift towards preventive healthcare, the food fortifying agents market is poised for sustained growth, offering significant opportunities for stakeholders across the value chain.

Key Highlights

The food fortifying agents market is characterized by several key highlights that underscore its dynamic nature and growth potential. There is a pronounced trend towards clean label and natural fortifying agents, as consumers increasingly seek transparency and minimal processing in their food choices. Technological advancements in encapsulation and stabilization techniques have significantly improved the efficacy and shelf-life of fortified products, enabling manufacturers to maintain nutrient integrity during processing and storage. The market is also witnessing robust growth in functional foods and beverages, which are specifically designed to offer health benefits beyond basic nutrition. Major industry players such as BASF SE, DSM, and Cargill are leading the way with extensive R&D investments and strategic collaborations to expand their product portfolios. Additionally, regulatory support and public health initiatives in various regions are accelerating the adoption of food fortification, making it a pivotal strategy in combating micronutrient deficiencies globally.

Drivers, Opportunities & Restraints

Several drivers are propelling the growth of the food fortifying agents market, including increasing consumer awareness about health and wellness, which is fueling demand for nutrient-enriched food products. Government regulations and public health programs mandating fortification of staple foods to address nutritional gaps are also significant catalysts. The rising incidence of chronic diseases and micronutrient deficiencies further drives the need for fortified foods as a preventive health measure. Opportunities abound in the development of innovative fortification solutions for emerging application areas such as sports nutrition, infant formula, and geriatric foods, catering to specific demographic needs. The expansion of distribution channels, including e-commerce, provides greater market access and consumer reach. However, the market faces restraints such as high costs associated with research, development, and compliance with stringent regulatory standards across different regions. Fluctuations in raw material prices and potential sensory alterations in fortified products that may affect consumer acceptance also pose challenges to market growth.

Concentration Insights

The food fortifying agents market exhibits a concentrated landscape with a few major players dominating the global scene. Companies like BASF SE, DSM, Archer Daniels Midland Company, Cargill, and DuPont de Nemours hold significant market shares due to their extensive product portfolios, strong R&D capabilities, and global distribution networks. These industry leaders are actively engaged in strategic initiatives such as mergers, acquisitions, and partnerships to strengthen their market position and expand their geographical presence. There is also a notable presence of regional players who cater to local tastes and regulatory requirements, contributing to market diversity. The competitive intensity is high, with firms focusing on innovation, sustainability, and cost-effectiveness to gain a competitive edge. The market concentration is further influenced by stringent regulatory frameworks that necessitate substantial investments in compliance and quality assurance, often favoring established players with robust resources.

Type Insights

Food fortifying agents are categorized into various types based on the nutrients they provide, with vitamins, minerals, proteins, and prebiotics being among the most prominent. Vitamins such as Vitamin D, Vitamin B complex, and Vitamin C are widely used to address specific deficiencies and enhance immune function and overall health. Minerals including iron, zinc, calcium, and iodine are essential for fortifying staple foods to prevent common deficiencies like anemia and bone disorders. Proteins and amino acids are increasingly incorporated into products aimed at muscle building, weight management, and general wellness, catering to the growing fitness and health-conscious consumer base. Prebiotics and probiotics are gaining traction for their role in promoting gut health and digestive wellness. Each type of fortifying agent requires tailored application techniques to ensure stability, bioavailability, and consumer acceptability, driving continuous innovation in formulation and delivery systems within the industry.

Application Insights

The application of food fortifying agents spans a diverse range of product categories within the food and beverages industry. Staples such as flour, rice, and edible oils are commonly fortified with vitamins and minerals to address public health concerns related to micronutrient deficiencies. Dairy products, including milk and yogurt, are frequently enriched with calcium, Vitamin D, and probiotics to enhance their nutritional value and support bone and digestive health. Beverages, both alcoholic and non-alcoholic, are increasingly fortified with vitamins, minerals, and herbal extracts to meet the demand for functional drinks that offer health benefits. Snacks and convenience foods are also emerging as key application areas, with fortification aimed at providing quick nutrition for on-the-go consumers. Infant formula and clinical nutrition products represent specialized segments where precise fortification is critical to meet the specific dietary needs of vulnerable populations. The broad applicability of fortifying agents underscores their importance in modern food production and public health nutrition.

Regional Insights

The food fortifying agents market demonstrates distinct regional dynamics influenced by varying dietary habits, health awareness levels, and regulatory environments. North America and Europe are mature markets characterized by high consumer awareness, stringent food safety regulations, and a strong presence of major industry players. These regions see significant demand for fortified products driven by health trends and preventive healthcare approaches. The Asia-Pacific region is experiencing rapid growth due to rising disposable incomes, increasing urbanization, and government initiatives to combat malnutrition. Countries like India and China are prominent markets where fortification of staples is actively promoted to address widespread nutrient deficiencies. Latin America and the Middle East & Africa are emerging markets with growing potential, supported by public health programs and increasing investment in food processing infrastructure. Each region presents unique opportunities and challenges, necess tailored strategies for market entry and expansion by industry participants.

Company Insights

Key companies in the food fortifying agents market include globally recognized players such as BASF SE, DSM, Archer Daniels Midland Company, Cargill, and DuPont de Nemours. These companies leverage their extensive research and development capabilities to innovate and offer a wide range of high-quality fortifying agents. BASF SE is notable for its comprehensive portfolio of vitamins and carotenoids, while DSM excels in nutritional products and sustainability initiatives. Archer Daniels Midland Company and Cargill are prominent for their broad ingredient solutions and strong supply chain networks. DuPont de Nemours focuses on health and nutrition technologies, including probiotics and proteins. These industry leaders engage in strategic activities such as acquisitions, partnerships, and capacity expansions to enhance their market presence and cater to evolving consumer demands. Their emphasis on regulatory compliance, product quality, and customer-centric approaches solidifies their competitive positions in the global market.

Recent Developments

Recent developments in the food fortifying agents market reflect ongoing innovation and strategic moves by key players. There has been a surge in product launches featuring clean label and organic fortifying agents, responding to consumer demand for natural and transparent ingredients. Companies are investing in advanced technologies such as microencapsulation to improve the stability and efficacy of nutrients in fortified foods. Strategic collaborations and partnerships between ingredient suppliers and food manufacturers are becoming common to co-develop customized fortification solutions. Regulatory approvals for new health claims and fortified products are also on the rise, enabling market expansion. Additionally, sustainability initiatives are gaining prominence, with firms focusing on eco-friendly sourcing and production processes to reduce environmental impact. These developments indicate a market that is rapidly evolving to meet health, taste, and sustainability expectations while navigating complex regulatory landscapes.

Report Segmentation

The food fortifying agents market report is segmented based on type, application, and region to provide a detailed analysis of market dynamics and opportunities. By type, the market is divided into vitamins, minerals, proteins, prebiotics & probiotics, and others, each catering to specific nutritional needs and consumer preferences. The application segment covers staples, dairy products, beverages, snacks, infant formula, and others, highlighting the diverse usage of fortifying agents across food categories. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, offering insights into regional trends, growth drivers, and competitive landscapes. This comprehensive segmentation enables stakeholders to identify niche markets, understand demand patterns, and make informed strategic decisions. The report also examines factors such as consumer behavior, regulatory frameworks, and technological advancements influencing each segment, providing a holistic view of the market structure and future potential.

FAQs

What are food fortifying agents? Food fortifying agents are substances added to food products to enhance their nutritional value by providing essential vitamins, minerals, proteins, or other nutrients that may be lacking in the diet.

Why is food fortification important? Food fortification is crucial for addressing micronutrient deficiencies, improving public health, and preventing diseases related to malnutrition, making it a key strategy in global nutrition initiatives.

What are the common types of food fortifying agents? Common types include vitamins such as Vitamin D and B vitamins, minerals like iron and calcium, proteins, and prebiotics or probiotics, each serving specific health purposes.

Which foods are typically fortified? Staples like flour, rice, and salt are often fortified, along with dairy products, beverages, and infant formula, to ensure widespread nutrient availability.

How do food fortifying agents affect taste and texture? Advances in food technology allow fortifying agents to be incorporated without significantly altering taste or texture, though careful formulation is required to maintain product quality and consumer acceptance.

Citius Research has developed a research report titled “Food Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents Market Segmentation

Market Segmentation

Regions Covered

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

Food Fortifying Agents Market Analysis

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

• Overview of Food Fortifying Agents Market
• Research Methodology
• Executive Summary
• Market Dynamics of Food Fortifying Agents 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 Fortifying Agents Market
• Cost and Gross Margin Analysis of Food Fortifying Agents Market
• Food Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents Market Key Stakeholders

Below are the key stakeholders for the Food Fortifying Agents Market:

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

Food Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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 Fortifying Agents 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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